Examples of Accelerated Redemption Event in a sentence
The NAEPI Series A preferred shares were mandatorily redeemable at $1,000 per share on the earlier of (1) December 31, 2011 and (2) an Accelerated Redemption Event, specifically (i) the occurrence of a change of control, or (ii) if there is an initial public offering of common shares, the later of (a) the consummation of the initial public offering or (b) the date on which all of the Company’s 9% senior notes and the Company’s 9% senior secured notes are no longer outstanding.
The Pledgors and the Secured Party agree that any written statement by an officer of the Secured Party asserting the occurrence of an Accelerated Redemption Event as the authorization for the exercise by the Secured Party of its rights hereunder shall be presumed to be true, and that any purchaser of the Pledged Securities at a foreclosure sale shall have the right to rely on such a statement.
Except after the occurrence of an Accelerated Redemption Event, the Secured Party shall give each Grantor at least one Business Day's telephonic notice before exercising the rights granted in the preceding sentence.
The Put/Call Right could only be exercised upon delivery by NACG of an “Event Notice”, being either: (i) a redemption or purchase call for the redemption or purchase of the NAEPI Series B preferred shares in connection with (A) a redemption on December 31, 2011, or (B) an Accelerated Redemption Event (as defined in note 18(a)(ii)); or (ii) a notice in connection with a Liquidation Event (defined as a liquidation, winding-up or dissolution of NAEPI, whether voluntary or involuntary).
The NAEPI Series A preferred shares were mandatorily redeemable at $1,000 per share on the earlier of (1) December 31, 2011 and (2) an Accelerated Redemption Event, specifically (i) the occurrence of a change of control, or (ii) if there is an initial public offering of common shares, the later of (a) the consummation of the initial public offering or (b) the date on which all of the Company’s 8 3/4% senior notes and the Company’s 9% senior secured notes are no longer outstanding.
Upon the occurrence of an Accelerated Redemption Event which is continuing, the Secured Party shall have those rights specified in Section 7.
As of such Closing Date, (i) no Default or Event of Default shall have occurred under the Credit Agreement, (ii) no Accelerated Redemption Event shall have occurred under the Articles of the Company and (iii) no default shall have occurred under any Equity Document.
The Put/Call Right could only be exercised upon delivery by NACG of an “Event Notice”, being either: (i) a redemption or purchase call for the redemption or purchase of the NAEPI Series B preferred shares in connection with (A) a redemption on December 31, 2011, or (B) an Accelerated Redemption Event (as defined in note 20(a)(ii)); or (ii) a notice in connection with a Liquidation Event (defined as a liquidation, winding-up or dissolution of NAEPI, whether voluntary or involuntary).
Each Grantor shall permit the Secured Party's representatives to have access to its books and records and the Collateral from time to time (which shall be during regular business hours provided that there is not then an Accelerated Redemption Event and at any time if an Accelerated Redemption Event has occurred and is continuing), as requested by such Person, for purposes of examination, verification, inspection, and appraisal thereof and/or any other purpose permitted by the Equity Documents.
Each Grantor agrees, after the occurrence of an Accelerated Redemption Event, to take any actions that the Secured Party may reasonably request in order to enable the Secured Party to obtain and enjoy the full rights and benefits granted to them by the Equity Documents.