Automatic Exchange Event definition

Automatic Exchange Event has the meaning ascribed to such term in the Share Exchange Agreement;
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Automatic Exchange Event means an event giving rise to the Automatic Exchange, being the occurrence of any one of the following: (i) the making by TCC or TCPL of a general assignment for the benefit of its creditors or a proposal (or the filing of a notice of its intention to do so) under the Bankruptcy and Insolvency Act (Canada), (ii) any proceeding instituted by TCC or TCPL seeking to adjudicate it a bankrupt or insolvent or seeking liquidation, winding up, dissolution, reorganization, arrangement, adjustment, protection, relief or composition of its debts under any law relating to bankruptcy, insolvency or reorganization, or seeking the entry of an order for the appointment of a receiver, interim receiver, trustee or other similar official for TCC or TCPL or any substantial part of its property and assets in circumstances where TCC or TCPL, as applicable, is adjudged a bankrupt or insolvent, (iii) a receiver, interim receiver, trustee or other similar official is appointed over TCC or TCPL or for any substantial part of its property and assets by a court of competent jurisdiction in circumstances where TCC or TCPL, as applicable, is adjudged a bankrupt or insolvent; or (iv) any proceeding is instituted against TCC or TCPL seeking to adjudicate it a bankrupt or insolvent or seeking liquidation, winding up, dissolution, reorganization, arrangement, adjustment, protection, relief or composition of its debts under any law relating to bankruptcy, insolvency or reorganization, or seeking the entry of an order for the appointment of a receiver, interim receiver, trustee or other similar official for TCC or TCPL or any substantial part of its property and assets in circumstances where TCC or TCPL, as applicable, is adjudged a bankrupt or insolvent, and either such proceeding has not been stayed or dismissed within sixty (60) days of the institution of any such proceeding or the actions sought in such proceedings occur (including the entry of an order for relief against TCC or TCPL or the appointment of a receiver, interim receiver, trustee, or other similar official for it or for any substantial part of its property and assets).
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Automatic Exchange Event means the occurrence of any of: (i) the making by the Issuer of a general assignment for the benefit of its creditors or a proposal (or the filing of a notice of its intention to do so) under the Bankruptcy and Insolvency Act (Canada); (ii) any proceeding instituted by the Issuer and/or the Partnership seeking to adjudicate them as bankrupt (including any voluntary assignment in bankruptcy) or insolvent or, where the Issuer and/or the Partnership are insolvent, seeking liquidation, winding up, dissolution, reorganization, arrangement, compromise, adjustment, protection, relief or composition of their debts under any law relating to bankruptcy or insolvency in Canada or Bermuda (as applicable), or seeking the entry of an order for the appointment of a receiver, interim receiver, trustee or other similar official for the Issuer and/or the Partnership or in respect of all or any substantial part of their property and assets in circumstances where the Issuer and/or the Partnership are adjudged as bankrupt (including any voluntary assignment in bankruptcy) or insolvent; (iii) a receiver, interim receiver, trustee or other similar official is appointed over the Issuer and/or the Partnership or for all or substantially all of their property and assets by a court of competent jurisdiction in circumstances where the Issuer and/or the Partnership are adjudged as bankrupt (including any voluntary assignment in bankruptcy) or insolvent under any law relating to bankruptcy or insolvency in Canada or Bermuda (as applicable); or (iv) any proceeding is instituted against the Issuer and/or the Partnership seeking to adjudicate them as bankrupt (including any voluntary assignment in bankruptcy) or insolvent, or where the Issuer and/or the Partnership are insolvent, seeking liquidation, winding up, dissolution, reorganization, arrangement, compromise, adjustment, protection, relief or composition of their debts under any law relating to bankruptcy or insolvency in Canada or Bermuda (as applicable), or seeking the entry of an order for the appointment of a receiver, interim receiver, trustee or other similar official for the Issuer and/or the Partnership or in respect of all or any substantial part of their property and assets in circumstances where the Issuer and/or the Partnership are adjudged as bankrupt or insolvent under any law relating to bankruptcy or insolvency in Canada or Bermuda (as applicable), and in any such case, such proceeding has not been stayed or dismisse...
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Examples of Automatic Exchange Event in a sentence

  • In addition, where MGL Ordinary Shares are required to be delivered to a holder of this Security upon an Exchange and the Issuer is required or entitled to make a FATCA Withholding, then the Issuer is entitled to take actions necessary to comply with that FATCA Withholding in accordance with paragraph 11 of “Description of the Securities – Exchange of Securities on an Exchange Event with, in the case of an Automatic Exchange Event, a fall back to Write-Off – Exchange Mechanics”.

  • The value of MGL Ordinary Shares is determined over a period of ASX Trading Days immediately prior to Exchange (generally the period is 20 ASX Trading Days, with 5 ASX Trading Days for Exchange due to an Automatic Exchange Event).

  • What happens if Automatic Exchange is not possible – Write-Off of BCN • If BCN have not been Exchanged, for any reason, within 5 Business Days of the Automatic Exchange Event, they must be Written-Off.

  • Any return in a Winding Up of MBL may be adversely affected if an Automatic Exchange Event occurs.

  • Exchange upon occurrence of an Automatic Exchange Event • On the occurrence of an Automatic Exchange Event (being a Common Equity Tier 1 Trigger Event or a Non-Viability Event), the Issuer is required to immediately Exchange some or all BCN into MGL Ordinary Shares.

  • Equal Ranking Obligations has the meaning given under the heading “— Exchange of Securities on an Exchange Event with, in the case of an Automatic Exchange Event, a fall back to Write-Off”.

  • See “— Exchange of Securities on an Exchange Event with, in the case of an Automatic Exchange Event, a fall back to Write-Off” below.

  • Further, the Ironshore Excess Policy clearly denotes where Team Health is to provide written notice of a Claim, Wrongful Act or Loss: Send to Company Indicated Above c/o Ironshore Insurance Services LLC.

  • Upon an Automatic Exchange Event, former holders of the SLEECS B will cease to have any claim or entitlement to distributions, interest or principal against SLCT I and will rank as preferred shareholders of Sun Life Assurance in a liquidation of Sun Life Assurance.

  • Upon no less than three Business Days’ notice by the Holdco Notes Issuer to the trustee under the Holdco Notes Indenture of the occurrence of the Automatic Exchange Event, all of the then outstanding amount of Holdco Notes will be automatically exchanged for an equal aggregate principal amount of Additional Notes to be issued by the Issuers under the Indenture (the “Automatic Exchange Transaction”).


More Definitions of Automatic Exchange Event

Automatic Exchange Event means either a Non-Viability Event or a Common Equity Tier 1 Trigger Event;.
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Automatic Exchange Event means the occurrence of any of: (i) the making by the Note Issuer of a general assignment for the benefit of its creditors or a proposal (or the filing of a notice of its intention to do so) under the Bankruptcy and Insolvency Act (Canada); (ii) any proceeding instituted by the Note Issuer and/or BIP seeking to adjudicate them as bankrupt (including any voluntary assignment in bankruptcy) or insolvent or, where the Note Issuer and/or BIP are insolvent, seeking liquidation, winding up, dissolution, reorganization, arrangement, compromise, adjustment, protection, relief or composition of their debts under any law relating to bankruptcy or insolvency in Canada or Bermuda (as applicable), or seeking the entry of an order for the appointment of a receiver, interim receiver, trustee or other similar official for the Note Issuer and/or BIP or in respect of all or any substantial part of their property and assets in circumstances where the Note Issuer and/or BIP are adjudged as bankrupt (including any voluntary assignment in bankruptcy) or insolvent; (iii) a receiver, interim receiver, trustee or other similar official is appointed over the Note Issuer and/or BIP or for all or substantially all of their property and assets by a court of competent jurisdiction in circumstances where the Note Issuer and/or BIP are adjudged as bankrupt (including any voluntary assignment in bankruptcy) or insolvent under any law relating to bankruptcy or insolvency in Canada or Bermuda (as applicable); or (iv) any proceeding is instituted against the Note Issuer and/or BIP seeking to adjudicate them as bankrupt (including any voluntary assignment in bankruptcy) or insolvent, or where the Note Issuer and/or BIP are insolvent, seeking liquidation, winding up, dissolution, reorganization, arrangement, compromise, adjustment, protection, relief or composition of their debts under any law relating to
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Automatic Exchange Event means any of (i) a Qualified Public Offering following the conversion of the Company into a Corporate Company or into a publicly traded partnership for tax purposes as defined in Section 7704 of the Code, (ii) the sale, lease or conveyance by the Company or any Subsidiary of all or substantially all of the assets of the Company to any other Person, including by consolidation with or merger into such other Person other than in connection with a Conversion as contemplated in Sections 5.7(a) and 12.1, (iii) the sale or conveyance of all or substantially all of the Equity Interests of the Company to any other Person, including by consolidation with or merger into such other Person, (iv) the decision by the Board of Directors to liquidate, wind-down or dissolve the Company, and (v) any other event such that if the holders of the Deferred Additional Interest Notes exchanged such Notes for Equity Interests, (A) the Company's assets would not be treated as Plan assets for purposes of Title I of ERISA or Section 4975 of the Code, (B) any income with respect to such Equity Interests would not be taxable as unrelated business taxable income with respect to any tax exempt holder, other than due to any debt of the holder, and (C) an Independent Legal Counsel provides an opinion to the effect of clauses (A) and (B) above; provided, however, that if the holders of at least a majority in the then outstanding principal amount of the Deferred Additional Notes reasonably determine, based on the written opinion of an Independent Legal Counsel that an event listed in any of clauses (i), (ii), (iii) or (iv) would result in (x) the Company's assets being treated as Plan Assets for purposes of Title I of ERISA or Section 4975 of the Code or (y) income with respect to such Equity Interests would be taxable as unrelated business taxable income with respect to any tax exempt holder, other than due to any debt of the holder, such event shall not be an Automatic Exchange Event for purposes hereof.
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Automatic Exchange Event has the meaning ascribed thereto in subsection 2.11(a) hereof .
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Related to Automatic Exchange Event

  • Automatic Early Redemption Event means that:

  • Make-Whole Fundamental Change Effective Date means (A) with respect to a Make-Whole Fundamental Change pursuant to clause (A) of the definition thereof, the date on which such Make-Whole Fundamental Change occurs or becomes effective; and (B) with respect to a Make-Whole Fundamental Change pursuant to clause (B) of the definition thereof, the applicable Redemption Notice Date.

  • Resale Restriction Termination Date shall have the meaning specified in Section 2.05(c).

  • Regulation S Global Note means a Global Note substantially in the form of Exhibit A hereto bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of and registered in the name of the Depositary or its nominee, issued in a denomination equal to the outstanding principal amount of the Notes sold in reliance on Rule 903 of Regulation S.

  • Exempted Fundamental Change means any Fundamental Change with respect to which, in accordance with Section 4.02(I), the Company does not offer to repurchase any Notes.

  • Ex-Dividend Date means the first date on which shares of the Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or distribution in question, from the Company or, if applicable, from the seller of Common Stock on such exchange or market (in the form of due bills or otherwise) as determined by such exchange or market.

  • Conversion Event means the cessation of use of (i) a Foreign Currency both by the government of the country or the confederation which issued such Foreign Currency and for the settlement of transactions by a central bank or other public institutions of or within the international banking community or (ii) any currency unit or composite currency for the purposes for which it was established.