Termination of Call Option. In the event the Company becomes a Public Company, the Call Option shall immediately terminate as to any Option Shares issued upon exercise of the Option.
Termination of Call Option. The option granted to the Subordination Agent pursuant to this Agreement shall terminate upon:
(a) the final discharge in full of the "Secured Obligations" under or pursuant to the Financing Agreements relating to each Aircraft, and provided no "Event of Default" pursuant to any Indenture has occurred and is continuing; or
(b) the occurrence of "Completion" as defined under the Put Option Agreement relating to the Shares.
Termination of Call Option. In the event of the consummation of any firm commitment underwritten public offering by the Company of its equity securities pursuant to an effective registration statement filed under the Securities Act of 1933, as amended, resulting in gross proceeds to the Company of not less than $60 million, the Call Option shall immediately terminate as to any Shares acquired upon exercise of the Option.
Termination of Call Option. (i) If, (A) an Event of Default shall have occurred and be continuing under Section 501 of the Original Indenture (in such event, a Callholder may terminate the Call Option by written notice to the Trustee) or (B) following the Call Notice, less than two Dealers (as defined below) have submitted Bids (as defined below) in a timely manner substantially as provided below then (a) the related Call Option shall immediately terminate and (b) no amount shall be payable as a result of such termination.
(ii) If a Callholder shall fail to deliver the Call Price by 2:00 p.m., New York time, on the Business Day prior to the Coupon Reset Date, then (a) its Call Option shall immediately terminate and (b) no amount shall be payable as a result of such termination.
(iii) If a Calculation Agent (as defined below) determines that a Market Disruption Event (as defined below) has occurred, then (a) the related Call Option shall immediately terminate and (b) no amount shall be payable as a result of such termination.
Termination of Call Option. All rights and obligations created pursuant to Section 11(a) shall be extinguished upon the earlier of (i) the fifth anniversary of this Agreement or (ii) a Public Offering.
Termination of Call Option. Except as otherwise specified in clause (a) below, the Call Option will automatically and immediately terminate, no payment will be due from the Callholder and the Coupon Reset Process will terminate, if any of the following occurs: (a) at any time prior to the sale of the Debentures on the third Business Day immediately preceding the Applicable Coupon Reset Date (the "Bid Date"), (i) an Event of Default has occurred and is continuing under Sections 501(1), (2), (3), (4) or (7) under the Original Indenture, (ii) a default, event of default or other similar condition or event (however described) in respect of the Company or any of its subsidiaries has occurred under one or more agreements or instruments relating to indebtedness of the Company or any of its subsidiaries (individually or collectively) in an aggregate amount of not less than $25,000,000, which has resulted in such indebtedness becoming due and payable, under such agreements or instruments, before it would otherwise have been due and payable, or (iii) the Company or any of its subsidiaries has defaulted in making one or more payments on the due date thereof in an aggregate amount of not less than $25,000,000 under such agreements or instruments (after giving effect to any applicable notice requirement or grace period) (in any such event, termination is at Callholder's option) or an Event of Default has occurred and is continuing under Sections 501(5) or (6) under the Original Indenture (in any such event, termination is automatic), (b) if following the Call Notice, less than two dealers named on a list of dealers provided by the Company to Xxxxxx Xxxxxxx & Co. Incorporated, as calculation agent (the "Calculation Agent"), have provided an irrevocable written offer for the purchase of the Debentures, settling on the Applicable Coupon Reset Date, in a timely manner as provided in the Calculation Agency Agreement, dated as of June 9, 1998 (the "Calculation Agency Agreement"), between the Company and the Calculation Agent, (c) if, following the Call Notice, the Callholder fails to pay the Call Price by 2:00 p.m., New York time, on the Business Day prior to the Applicable Coupon Reset Date due to the occurrence of a Market Disruption Event, (d) if the Company elects to have Section 1302 (Defeasance and Discharge) or Section 1303 (Covenant Defeasance) under the Original Indenture applied to any of its Securities or any series of its Securities or (e) if the Company exercises the Optional Redemption (a...
Termination of Call Option. If a Calculation Agent determines, following the exercise of its Call Option, that
(i) a Market Disruption Event (as defined below) has occurred or
(ii) two or more of the Dealers have failed to provide Bids in a timely manner substantially as provided above, such Call Option will be automatically revoked, and the Trustee will exercise the Put option on behalf of the Holders of the applicable principal amount of the Notes. "Market Disruption Event" shall mean any of the following: (i) a suspension or material limitation in trading in securities generally on the New York Stock Exchange or the establishment of minimum prices on such exchange; (ii) a general moratorium on commercial banking activities declared by either federal or New York State authorities; (iii) any material adverse change in the existing financial, political or economic conditions in the United States of America; (iv) an outbreak or escalation of major hostilities involving the United States of America or the declaration of a national
Termination of Call Option. All rights and obligations created pursuant to Section 11(a) shall be extinguished upon the earlier of (I) June 30, 2002 or (II) a Public Offering.
Termination of Call Option. The Creditor Trust acknowledges that the shares of the Company that are subject to the Call Option (as defined in the Section 4.3.6 of the trust agreement for the Creditor Trust) will be exchanged or cancelled in connection with the Transaction and the Call Option will not be exercisable for any post-Transaction shares of the Company.
Termination of Call Option. The call option granted to the Company pursuant to Article VIII is hereby termination and rescinded and Article VIII is hereby amended in its entirety to read as follows:
