Repayment Events Clause Samples

Repayment Events. G.1. The Participant(s) shall not commit to an Outright Sale prior to Full Repayment without a prior written notice from the Proposer to the Foundation and without the prior written consent of the Foundation, in its sole discretion.

Repayment Events. A Repayment Event occurs if: (a) the Borrower fails to pay any money owing to FSL under a Loan Agreement; (b) the Borrower is a corporation, and a liquidator, receiver, administrator or any similar officer is appointed over any part of the Borrower’s undertaking; (c) the Borrower is a partnership which is dissolved or has a receiver appointed to any of its assets; (d) the Borrower is declared or becomes insolvent or, if an individual, is declared bankrupt; or (e) the Borrower breaches any term of this PFMA or any Loan Agreement. If a Repayment Event occurs: (i) the Borrower is deemed to have repudiated the relevant Loan Agreement; (ii) the Debt the subject of the applicable Loan Agreement will become immediately due and payable by the Borrower to FSL without FSL having to make demand for the same;

Repayment Events. (a) With respect to any acquisition of FF&E by Ashford LLC pursuant to this ERFP Agreement, if prior to the date that is two years after such acquisition (the “Applicable Two Year Period”), (i) the Company is subject to a Company Change of Control (as defined in the Advisory Agreement) or (ii) the Company or the Advisor terminates the Advisory Agreement and the Company is required to pay the Termination Fee thereunder (each of clauses (i) and (ii), a “Repayment Event”), the Operating Partnership shall pay to Ashford LLC an amount equal to one hundred percent (100%) of any Enhanced Return Investments actually funded by Ashford LLC during such Applicable Two Year Period (less any amount that the Applicable TRS has previously paid to purchase any such FF&E from Ashford LLC, if any (the “Previously Repaid Amounts”)) and any amounts paid to or setoff by Applicable TRS pursuant to Section 2.01(e)(ii)(A) (provided that, with respect to amounts paid to or setoff by Applicable TRS pursuant to Section 2.01(e)(ii)(A), the Operating Partnership shall repay 100% of the Defaulted Funding Amount (and not the 125% thereof that was paid to or setoff by Applicable TRS)). The amount payable by the Operating Partnership pursuant to this Section 2.02(a) is referred to herein as a “Repayment”). (b) If the Operating Partnership or its subsidiaries dispose of or cause to be disposed any Enhanced Return Hotel Asset or other real property with respect to which Ashford LLC owns FF&E, including by way of a foreclosure or deed-in-lieu of foreclosure by a mortgage or mezzanine lender of the Operating Partnership or its subsidiaries (a “Disposition Replacement Event”), Braemar shall promptly identify, and Ashford LLC shall acquire in exchange for such FF&E, FF&E for use at another real property asset leased by the Applicable TRS and with a fair market value equal to the value of such FF&E as established in connection with such disposition. (c) Ashford LLC shall convey, at the time of payment by Operating Partnership under Section 2.02(a) or the time of a disposition under Section 2.02(b), all applicable FF&E to (i) with respect to Section 2.02(a), the Applicable TRS and (ii) with respect to Section 2.02(b), the particular transferee of such FF&E with respect to any Enhanced Return Hotel Asset or other real property asset, which conveyances by Ashford LLC shall be treated as a sale of such assets by Ashford LLC for income tax purposes. The payments required under Section 2.02(a) shall be...

Repayment Events. If at any time a Repayment Event has occurred in relation to a Purchased Receivable, the relevant Seller agrees to notify the Bank promptly. In relation to any Repayment Event affecting a Receivable, the Bank and the relevant Seller agree that the loss suffered by the Bank in respect of that Receivable as a result of that Repayment Event will be a sum equal to the difference between the Net Value of that Receivable and the amount that has actually been received by the Bank in respect of that Receivable at the time the Bank made the Request (as defined below). At the Bank’s determination in its sole discretion and upon the Bank’s request (the “Request”), the relevant Seller undertakes to carry out the following: (a) that Seller shall raise a credit note (or other similar book keeping entry) in favour of the relevant Eligible Buyer for an amount equal to that difference in accordance with its standard sales ledger practices; and/or (b) that Seller shall promptly on demand pay an amount equal to that difference to the Bank, in discharge of the loss suffered by the Bank as a result of the Repayment Event in respect of the relevant Receivable, provided that, notwithstanding any other provision of this Agreement, but subject to the relevant Seller having carried out the actions under paragraphs (a) and/or (b) above (as applicable) in accordance with the relevant Request, if the Bank subsequently receives any amount in respect of that Receivable after the time of that Request (other than pursuant to paragraph (b) above), the Bank shall hold such amount on trust absolutely for the relevant Seller and shall promptly pay such amount to the relevant Seller. ​ ​ ​ ​ ​

Repayment Events. The principal amount of each Note, together with interest thereon shall also be paid (together with the Payoff Fee then applicable) within thirty (30) days following any of the following events: (a) the receipt by Borrower of an amount of at least $2,550,000, net of attorneys fees and lawsuit costs related thereto, by way of settlement or judgment in connection with Borrower's lawsuit against The ▇▇▇▇ Disney Company and ABC Radio Networks Inc., or (b) receipt by Borrower of an amount of at least $2,500,000, net of transaction expenses, in connection with the sale of an operating division or subsidiary; each of such payments hereinafter referred to as an "Event Payoff." An Event Payoff shall not be deemed to be a prepayment for purposes of Section 3.5 of this Agreement.

Repayment Events. The Allowance will be subject to pro-rata reimbursement to ABC as follows if: (1) Allscripts terminates the Agreement prior to the expiration of the Term for any reason other than a default by ABC; or (2) ABC terminates the Agreement prior to the expiration of the Term as a result of a default by Allscripts. Such reimbursement will be the full amount of each Allowance paid to Allscripts for purchases during the calendar year during which termination occurs, less one-twelfth (1/12th) of such amount for each full month of the calendar year prior to the event giving rise to termination. By way of example and for purposes of illustration, should the Agreement be terminated on May 5th of the following years (with Allscripts earning its maximum Allowance and such Allowance having been paid on March 15th ), ABC will be entitled to reimbursement of $[ ]* in 2002 ($[ ]* less $[ ]* [$[ ]* x 4 full calendar months, January to April]); or $[ ]* in 2003 to 2006 ($[ ]* less [4 months x $[ ]*]).

Repayment Events. The following shall constitute Repayment Events for purposes of Sections 9.3 and 9.

Repayment Events. In addition to the prepayments required pursuant to clauses (c)(i) and (ii) above, upon the occurrence of any Repayment Event, the Borrower shall prepay Advances on the next Business Day after the Net Cash Proceeds from such Repayment Event are received by the Borrower or the Parent or one of their respective Subsidiaries, as applicable, in an amount equal to the lesser of (A) the amount of the outstanding Advances on such Business Day and (B) the Repayment Amount for such Repayment Event. Prepayments made pursuant to this clause (c)(iii) shall be applied (A) first, to outstanding Term Advances (and accrued Current Pay Interest related thereto), (B) second, to outstanding PIK Obligations (and accrued Current Pay Interest related thereto), (C) third, to accrued PIK Interest on all Advances and (C) fourth, to Revolving Advances (and accrued Current Pay Interest related thereto) and, thereafter, to the cash collateralization of outstanding Letter of Credit Exposure.

Repayment Events. Notwithstanding the aforesaid, unless previously converted or repaid, the Loan Amount shall be due and payable in full upon the occurrence of any of the following events (each, a “Repayment Event”): (i) the Company files a petition for bankruptcy, files a petition seeking any reorganization, arrangement, composition, or similar relief under any law regarding insolvency or relief for debtors, or makes an assignment for the benefit of creditors; (ii) a receiver, trustee, or similar officer is appointed for the business or property of the Company and any such receivership, trusteeship or the appointment of similar officer shall remain undischarged for a period of 60 days; (iii) any involuntary petition or proceeding under bankruptcy or insolvency laws is instituted against the Company or a lien is granted on all or substantially all of the of the Company’s assets and not stayed, enjoined, or discharged within 60 days; (iv) the Company adopts a resolution for discontinuance of its business or for dissolution; (v) the Company is in default on its conversion undertakings under Sections ‎2.1, 3 or 4‎ above; (vi) the Company has breached a material obligation of the Company under this Agreement, which was not cured, if curable, within 30 days following the receipt by the Company of a written notice of such breach; or (vii) the business of the Company is suspended or ceased for a period longer than 90 days.