Postponement Period Sample Clauses

Postponement Period. (a) Upon receipt by the holders of Subordinated Debt of a notice of a Payment Default, which notice shall specify that it is a Default Notice (as hereinafter defined) delivered pursuant to this Section 2.2(a), no payment of any kind or character shall be made by or on the behalf of the Obligors or any other Person acting on its or their behalf on or with respect to the Subordinated Debt (nor shall the Obligors or any other Person acting on its or their behalf acquire any Subordinated Debt for cash or property or otherwise) during the continuance of such Payment Default (a "Payment Postponement Period"). A copy of any such Default Notice shall be sent to the Borrower as well, although the failure to deliver same shall not affect or postpone a Payment Postponement Period. (b) Upon receipt by the Borrower and the holders of Subordinated Debt of a notice of a Non-Payment Event of Default, which notice shall specify that it is a Default Notice delivered pursuant to this Section 2.2(b), no payment of any kind or character shall be made by or on behalf of the Obligors or any other Person acting on its or their behalf on or with respect to the Subordinated Debt (nor shall the Obligors or any other Person acting on its or their behalf acquire any Subordinated Debt for cash or property or otherwise) for a period of 180 days (any such period being herein called a "Non-Payment Postponement Period" and, together with the Payment Postponement Period, the "Postponement Periods") following receipt of such notice by the Borrower and the holders of Subordinated Debt, subject to the provisions of Section 2.3. (c) Any notice under paragraphs (a) and (b) above (each a "Default Notice") shall set forth the Payment Default or Non-Payment Event of Default the subject of such Default Notice. Notwithstanding the foregoing and whether or not a Postponement Period shall be in effect, upon the final maturity of the Senior Debt or upon the acceleration thereof no payment or distribution of any kind or character shall be made on, or in respect of, any Subordinated Debt (nor shall any Subordinated Debt be acquired by any Obligor or any Person acting on its or their behalf for cash or property or otherwise) and the holders of Subordinated Debt shall not receive or accept any of the foregoing until the Senior Debt has been irrevocably paid in full in cash or cash equivalents acceptable to the holders of the Senior Debt and the irrevocable termination of the lending commitments thereunder.
Sample 1
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Related to Postponement Period

  • Postponement The Company shall be entitled once in any six-month period to postpone for a reasonable period of time (but not exceeding 90 days) (the “Postponement Period”) the filing of any registration statement required to be prepared and filed by it pursuant to this Section 2.1 if the Company determines, in its reasonable judgment, that such registration and offering would materially interfere with any material financing, corporate reorganization or other material transaction involving the Company or any subsidiary, or would require premature disclosure thereof, and promptly gives Mitsui written notice of such determination, containing a general statement of the reasons for such postponement and an approximation of the anticipated delay. If the Company shall so postpone the filing of a registration statement, (i) the Company shall use its reasonable best efforts to limit the delay to as short a period as is practicable and (ii) Mitsui shall have the right to withdraw the request for registration by giving written notice to the Company at any time and, in the event of such withdrawal, such request shall not be counted for purposes of the requests for registration to which Mitsui is entitled pursuant to this Section 2.1.

  • AGREEMENT PERIOD The terms of this Agreement and the performance of the parties hereto shall commence, or be deemed to have commenced, the 1st day of January 2020 and will continue through the 31st day of December 2020, both dates inclusive, unless sooner terminated or extended as provided for herein.

  • Vacation Postponement If a bargaining unit employee’s vacation becomes due during a period when he/she is on leave due to illness or injury, he/she may request: 1. that his/her vacation date be changed. The District shall grant such request in accordance with vacation dates available at that time. 2. to carry over his/her vacation to the following year. Such request shall be made through submission (within two (2) weeks of the employee’s return to duty) of a written vacation plan to the employee’s supervisor for approval.

  • Payment Period Whenever a payment under this Agreement specifies a payment period with reference to a number of days, the actual date of payment within the specified period shall be within the sole discretion of Company.

  • Settlement Period (a) For recording time worked, there shall be a settlement period of four weeks. (b) The settlement period shall commence at the beginning of a pay period.

  • HSR Waiting Period The waiting period applicable to the consummation of the Merger under the HSR Act shall have expired or been terminated.

  • Meal Period Employees shall receive a meal period which shall commence no less than two (2) hours nor more than five (5) hours from the beginning of the employee's regular shift or when the employee is called in to work on their regular day off. The meal period shall be no less than one-half (½) hour nor more than one (1) hour in duration and shall be without compensation. Should an employee be required to work in excess of five (5) continuous hours from the commencement of their regular shift without being provided a meal period, the employee shall be compensated two (2) times the employee's straight-time hourly rate of pay for the time worked during their normal meal period and be afforded a meal period at the first available opportunity during working hours without compensation.

  • Funding Period The Funding Period, if any, shall not have terminated.

  • Enrollment Period Educational Support Professionals may elect to participate in the Career Transition Trust annually during a two (2) week enrollment period determined by the District, but that will occur no later than May 1st each year, provided they have met the eligibility requirements for participation in Subdivision. 2.

  • week period If an employee fails to return at the end of the family care or medical leave, the CSU may require repayment of insurance premiums paid during the unpaid portion of the leave. The CSU shall not require repayment of premiums if the employee's failure to return is due to his/her serious health condition or due to circumstances beyond the employee's control.

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