Blocking Event definition

Blocking Event shall occur if either (a) all of the directors elected to Dynegy’s Board of Directors pursuant to the terms of the Class B Shares present at the meeting where a Covered Transaction is considered vote against a Covered Transaction and such Covered Transaction is otherwise approved by at least a majority of the directors elected to Dynegy’s Board of Directors then in office, or (b) any of the Class B Shares are voted against a Covered Transaction and such Covered Transaction is otherwise approved by at least two-thirds of those shares entitled to vote on the transaction (other than the Class B Shares and other than shares that are beneficially owned by members of Dynegy’s Board of Directors and the executive officers of Dynegy or any Subsidiary of Dynegy). Notwithstanding the foregoing, no “Blocking Event” shall be deemed to occur with respect to (x) any Covered Transaction which is a substantially similar transaction as a Covered Transaction previously acted upon, the intent of the parties being that repetitive submissions of substantially similar proposals shall not result in additional Blocking Events having occurred or (y) any event that would otherwise constitute a Blocking Event pursuant to clause (a) or (b) of the preceding sentence with respect to which a majority of the directors elected to Dynegy’s Board of Directors then in office (other than the directors elected by the holders of the Class B Shares) determines that such event shall not be deemed to be a Blocking Event.

Blocking Event shall have the meaning set forth in Section 2.5(a) hereof.

Blocking Event means any of the following events:

Examples of Blocking Event in a sentence

• The maximum number of shares of Stock and the maximum number of Options permitted to be purchased or paid for by the Company at any time without resulting in a Blocking Event shall be referred to herein as the "Maximum Repurchase Amount".

• The Company shall be obligated to notify the Underwriter in writing using the form attached hereto as Exhibit 3.3 immediately upon the occurrence of a Blocking Event.

• A Blocking Event is "continuing" if any event or circumstance set out in any paragraph of the definition thereof has occurred and the circumstances set out therein continue to apply.

• If the Company discloses material nonpublic information to the Underwriter, advisors to or representatives of the Underwriter prior to disclosure of such information in a registration statement, prospectus or amendment thereto, such event shall constitute a Blocking Event pursuant to Section 2.5(a).

• The Investor's obligation to purchase shares of the Company's Common Stock shall be null and void if (i) a Blocking Event occurs (as provided in Section 2.4); or (ii) the remaining Selling Period Obligation multiplied by the Purchase Price is less than $100,000.

More Definitions of Blocking Event

Blocking Event means an event described in Subsection 2.5(a)(i), (ii), (iii), (iv), (v) or (vi).

Blocking Event means, in respect of any day, any of the following events:

Blocking Event being outstanding means:

Blocking Event has the meaning set forth in Section 4(a).

Blocking Event means (a) the occurrence of an Event of Default under Section 8(a) of the Bank Facility Agreement (Payment Default) or (b) that the Bank Secured Obligations have become due and payable in full (whether at maturity, upon acceleration or otherwise).

Blocking Event means an event described in Section 2.5(a) of this Agreement.

Blocking Event has the meaning assigned to such term in Section 9.01(e)(ii).