Article 74 Event definition

Article 74 Event means, in respect of the Issuer, the issue of a resolution pursuant to Article 74 of the Consolidated Banking Act.
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Examples of Article 74 Event in a sentence

  • Suspension of Payments If a resolution pursuant to Article 74 of the Consolidated Banking Act is passed in respect of the Issuer (the "Article 74 Event"), the Guarantor, in accordance with Decree No. 310, shall be responsible for the payments of the Guaranteed Amounts due and payable within the entire period in which the suspension continues (the "Suspension Period").

  • If an Issuer Event of Default occurs, the Representative of the Covered Bondholders will serve a notice (the “Notice to Pay”) on the Issuer and Guarantor that an Issuer Event of Default has occurred (specifying, in case of an Article 74 Event that the Issuer Event of Default may be temporary) unless an Extraordinary Resolution is passed resolving otherwise.

  • If, after the delivery of an Issuer Default Notice (provided that, should such Issuer Default Notice consists of an Article 74 Event, an Article 74 Event Cure Notice has not been served), a breach of the Amortisation Test occurs, the Representative of the Bondholders will deliver a Guarantor Default Notice.

  • Article 74 Event means the issuance of a resolution pursuant to Article 74 of the Consolidated Banking Act in respect of the Issuer.

  • Article 74 Event"), the Guarantor, in accordance with Article 7-quaterdecies of the Securitisation and Covered Bond Law, shall be responsible for the payments of the Guaranteed Amounts due and payable within the entire period in which the suspension continues (the "Suspension Period").

  • If, after the delivery of an Issuer Default Notice (provided that, should such Issuer Default Noticeconsists of an Article 74 Event, an Article 74 Event Cure Notice has not been served), a breach of the Amortisation Test occurs, the Representative of the Bondholders will deliver a Guarantor Default Notice.

  • The obligations of the Guarantor to make payments in respect of such Guaranteed Amounts when Due for Payment are subject to the conditions that an Issuer Event of Default has occurred, and an Issuer Default Notice has been served on the Issuer and on the Guarantor, provided that, to the extent the Issuer Event of Default consists of an Article 74 Event, no Article 74 Event Cure Notice has been delivered.

  • Article 74 Event Cure Notice means the notice to be served by the Representative of the Bondholders on the Issuer, the Guarantor and the Asset Monitor, stating that the Article 74 Event has been revoked.Asset Monitor means BDO Italia S.p.A. or any other entity appointed from time to time to act as such in accordance with the Asset Monitor Agreement.

Related to Article 74 Event

  • Acquisition Event means a merger or consolidation in which the Company is not the surviving entity, any transaction that results in the acquisition of all or substantially all of the Company’s outstanding Common Stock by a single person or entity or by a group of persons and/or entities acting in concert, or the sale or transfer of all or substantially all of the Company’s assets.

  • Terminating Event means any of the following events:

  • Change of Control Triggering Event means the occurrence of both a Change of Control and a Rating Event.

  • Change of Control Repurchase Event means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

  • Triggering Event means any Section 11(a)(ii) Event or any Section 13 Event.

  • Change of Control Transaction means the occurrence after the date hereof of any of (a) an acquisition after the date hereof by an individual or legal entity or “group” (as described in Rule 13d-5(b)(1) promulgated under the Exchange Act) of effective control (whether through legal or beneficial ownership of capital stock of the Company, by contract or otherwise) of in excess of 33% of the voting securities of the Company (other than by means of conversion or exercise of the Debentures and the Securities issued together with the Debentures), (b) the Company merges into or consolidates with any other Person, or any Person merges into or consolidates with the Company and, after giving effect to such transaction, the stockholders of the Company immediately prior to such transaction own less than 66% of the aggregate voting power of the Company or the successor entity of such transaction, (c) the Company sells or transfers all or substantially all of its assets to another Person and the stockholders of the Company immediately prior to such transaction own less than 66% of the aggregate voting power of the acquiring entity immediately after the transaction, (d) a replacement at one time or within a three year period of more than one-half of the members of the Board of Directors which is not approved by a majority of those individuals who are members of the Board of Directors on the Original Issue Date (or by those individuals who are serving as members of the Board of Directors on any date whose nomination to the Board of Directors was approved by a majority of the members of the Board of Directors who are members on the date hereof), or (e) the execution by the Company of an agreement to which the Company is a party or by which it is bound, providing for any of the events set forth in clauses (a) through (d) above.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Dissolution Event means (i) a voluntary termination of operations, (ii) a general assignment for the benefit of the Company’s creditors or (iii) any other liquidation, dissolution or winding up of the Company (excluding a Liquidity Event), whether voluntary or involuntary.