Alternate Structure definition
Examples of Alternate Structure in a sentence
To the extent a Board-approved transaction accomplishes such objectives pursuant to an Alternate Structure then the Board may determine that the full amount of the Transaction Bonus or any portion thereof shall be payable, with such payment to be made within five days following the date of such Board determination.
In no event shall the Members undertake the Alternate Structure if it would constitute a violation of any terms under the Loan, or expose any Member to any additional liability, expense, cost or recourse under the Loan, any agreement to which the Company or any Owner is bound, or other applicable law, code, statute, regulation or order.
If an Alternate Structure is implemented, appropriate credits against the Completion Support Agreement Fee (as defined in the TRQ Financing Support Agreement) will also be implemented.
The Company shall present any Alternate Structure to the Company Board of Managers no later than the later of (i) June 30, 2007 and (ii) the date that is the 6 month anniversary of the Closing Date.
This Section 6.14 shall become inapplicable if an Alternate Structure Event occurs.
Once the Alternate Structure is in place, if the Target Financial Covenant is met for three consecutive calendar months, upon Borrower’s receipt of notice thereof from Bank, the Alternate Structure shall no longer be in effect for so long as the Target Financial Covenant continues to be met.
Upon transition to the Alternate Structure, a Loan Fee of $12,500.
As promptly as practicable after occurrence of an Alternate Structure Event, Parent shall cause (1) Alternate Holdco to amend its certificate of incorporation and bylaws to be substantially identical in form and substance to the certificate of incorporation and bylaws of Parent at that time; and (2) Alternate Holdco's board of directors to adopt a shareholder rights plan substantially identical in form and substance to the Parent Rights Agreement, as it existed on October 1, 2001.
If the Alternate Structure is approved by the Joint Majority Holders, then the transactions necessary for the creation of the Alternate Structure shall be consummated on or before the later of (i) December 31, 2008 and (ii) the date that is the 24-month anniversary of the Closing Date.
At all times when the Alternate Structure is in effect, a fee (the “Unused Revolving Line Facility Fee”), which fee shall be paid monthly, in arrears, on a calendar year basis, in an amount equal to one half of one percent (0.50%) per annum of the average unused portion of the Revolving Line, as determined by Bank.