Break Funding Event definition

Break Funding Event has the meaning specified in Section 2.09.
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Break Funding Event means an event that shall occur if the Borrower requests an Advance and either (a) subsequently revokes such request prior to the Funding Date for such Advance or (b) the conditions precedents for any Advance set forth in Section 2.02 and Article III are not satisfied such that the Advance is not made; provided, however, that a Break Funding Event shall not be deemed to have occurred if either (x) prior to the Borrower’s revocation of its request for an Advance or the Agent’s knowledge that the conditions precedent have not been satisfied, the Lender has not issued commercial paper or requested funds pursuant to a Liquidity Purchase Agreement to fund such Advance or (y) the failure of the conditions precedent to be met in clause (b) above, results from any act or omission of the Lender or the Agent that constitutes any willful misconduct or gross negligence of their respective obligations hereunder.
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Break Funding Event. Each such prepayment of Class A-R Notes or failed Borrowing as provided in the definition of the Breakage Costs.
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Examples of Break Funding Event in a sentence

  • Notwithstanding the foregoing, the Issuer shall not be required to compensate any Holder for any loss incurred more than six months prior to the date that such Class A-R Noteholder notifies the Issuer of the Break Funding Event or Class A-R Note Increased Costs giving rise to such loss and of such Class A-R Noteholder's intention to claim compensation therefor.

  • Notwithstanding the foregoing, the Issuer shall not be required to compensate any Class A-R Noteholder for any loss incurred more than six months prior to the date that such Class A-R Noteholder notifies the Issuer of the Break Funding Event giving rise to such loss or any Class A-R Note Increased Costs and of such Class A-R Noteholder's intention to claim compensation therefor.

  • Breakage Fee: Amount to be paid to the Purchaser and its counsel upon the occurrence of a Break Funding Event as provided in the Forward Delivery Agreement.

  • Notwithstanding the foregoing, the Issuer shall not be required to compensate any Holder for any loss incurred more than six months prior to the date that such Holder notifies the Issuer of the Break Funding Event or Class A-R Note Increased Costs giving rise to such loss and of such Holder's intention to claim compensation therefor.

  • The Issuer shall pay the fee of counsel to the Lender in the amount of $23,500, payable on the earlier of the Closing Date or the date on which a Break Funding Event or a determination by the Issuer of the occurrence of a Change in Law in which it has given notice to terminate, occurs.

  • In addition, if such notice and the certificate required pursuant to Section 3.08(d) are not delivered to the Issuer, the Collateral Manager and the Trustee at least two Business Days prior to a Distribution Date in the case of a Break Funding Event or ten Business Days prior to a Distribution Date in the case of Class A-R Note Increased Costs, payment of such Class A-R Note Additional Amounts shall be made on the next succeeding Distribution Date.

  • In addition, if such notice and the certificate required pursuant to the Class A-R Note Purchase Agreement are not delivered to the Issuer, the Collateral Manager and the Trustee at least two Business Days prior to a Distribution Date in the case of a Break Funding Event or 10 Business Days prior to a Distribution Date in the case of Class A-R Note Increased Costs, payment shall be made on the next succeeding Distribution Date.

  • In the event of the payment or redemption of any Principal of this Note pursuant to Section 6 that does not occur on the Interest Date or the Maturity Date (including as a result of an Event of Default) (any such event, a “Break Funding Event”), then, in any such Break Funding Event, the Issuer shall, within thirty (30) days after demand by the Noteholder, reimburse the Noteholder for the Break Funding Losses with respect to such Break Funding Event.

  • A certificate of the Lender setting forth any amount or amounts that the Lender is entitled to receive pursuant to this Section 2.11 shall be delivered to the Borrower not later than one month after the last day of such Interest Period (or, in the case of a failure to borrow or continue, the duration of the Interest Period that would have resulted from such Advance or continuation) with respect to each Break Funding Event and such certificate shall be conclusive absent manifest error.

  • Breakage Fee: Amount to be paid to the Purchaser and its counsel upon the occurrence of a Break Funding Event, as provided in the Forward Delivery Agreement.


More Definitions of Break Funding Event

Break Funding Event has the meaning specified in Section 3.08(d).
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Related to Break Funding Event

  • Initial Funding Date means the Funding Date on which the first Loan is made pursuant to this Agreement, as specified in the Initial Borrower Funding Request.

  • Disqualifying Event has the meaning specified in the definition of Eligible Currency.

  • Delaying Event means any failure of a Party to perform any of its obligations set forth in this Agreement, caused in whole or in part by: 2.63.1 the failure of the other Party to perform any of its obligations set forth in this Agreement, including but not limited to a Party’s failure to provide the other Party with accurate and complete Service Orders; 2.63.2 any delay, act or failure to act by the other Party or its End User, agent or subcontractor; or 2.63.3 any Force Majeure Event.

  • Pre-Funding Period The period commencing on the Closing Date and ending on the earliest to occur of (i) the date on which the amount on deposit in the Pre-Funding Account (exclusive of any investment earnings) is less than $100,000, and (ii) September 22, 2006.

  • Financing Event means the earlier of (i) a public offering by the Company of its Common Stock with aggregate gross proceeds of at least $5 million; or (ii) the listing of the Company’s Common Stock on a National Securities Exchange, as such term is defined under the Exchange Act.

  • Funding Default as defined in Section 2.22.

  • Qualifying Event means, during the Participant’s Services with the Company and its Affiliates, the Participant’s death or Disability.

  • Pre-Funding Earnings means any Investment Earnings on amounts on deposit in the Pre-Funding Account.

  • Sharing Event means (a) the occurrence of any Event of Default under Section 7.1(e), (b) the declaration of the termination of any Commitment, or the acceleration of the maturity of any Loans, in each case in accordance with Section 7.2 or (iii) the failure of any Borrower to pay any principal of, or interest on, any Loans or any LOC Obligations on the Maturity Date.

  • Capital Disqualification Event has the meaning specified in Section 1.1 of the Indenture.

  • Sporting event means any of the following athletic activities that is organized, operated, managed, or sponsored by the School:

  • Rating Event means the rating on the Notes is lowered by each of the Rating Agencies and the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on any day within the 60-day period (which 60-day period will be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) after the earlier of (a) the occurrence of a Change of Control and (b) public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control; provided that a Rating Event will not be deemed to have occurred in respect of a particular Change of Control (and thus will not be deemed a Rating Event for purposes of the definition of Change of Control Triggering Event) if each Rating Agency making the reduction in rating does not publicly announce or confirm or inform the Trustee in writing at the request of the Company that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the Change of Control (whether or not the applicable Change of Control has occurred at the time of the Rating Event).

  • Liquidating Event has the meaning set forth in Section 13.1.

  • Terminating Event means any of the following events:

  • Accounting Event means the receipt by the Issuer of an opinion of an Authorized Public Accountant in Finland (reputable and experienced in such matters) to the effect that, as a result of a change in the applicable accounting standards or interpretation thereof, the equity treatment of the Capital Notes as “equity” in full in the Issuer’s consolidated financial statements has or will cease.

  • Excess Funding Account shall have the meaning specified in Section 4.02.

  • MREL Disqualification Event means that, at any time, all or part of the outstanding nominal amount of Securities is or will be excluded fully or partially from the eligible liabilities available to meet the MREL Requirements provided that: (a) the exclusion of a Series of such Securities from the MREL Requirements due to the remaining maturity of such Securities being less than any period prescribed thereunder, does not constitute a MREL Disqualification Event; (b) the exclusion of all or some of a Series of Securities due to there being insufficient headroom for such Securities within a prescribed exception to the otherwise applicable general requirements for eligible liabilities does not constitute a MREL Disqualification Event; and (c) the exclusion of all or some of a Series of Securities as a result of such Securities being purchased by or on behalf of the Issuer or as a result of a purchase which is funded directly or indirectly by the Issuer, does not constitute a MREL Disqualification Event.

  • TLAC Disqualification Event means OSFI has advised the Bank in writing that the bail-inable notes issued under the applicable pricing supplement will no longer be recognized in full as TLAC under the TLAC Guideline as interpreted by the Superintendent, provided that a TLAC Disqualification Event will not occur where the exclusion of those bail-inable notes from the Bank’s TLAC requirements is due to the remaining maturity of those bail-inable notes being less than any period prescribed by any relevant eligibility criteria applicable as of the issue date of those bail-inable notes.

  • ERISA Termination Event means (i) a “Reportable Event” described in Section 4043 of ERISA and the regulations issued thereunder (other than a “Reportable Event” not subject to the provision for 30-day notice to the PBGC under such regulations), or (ii) the withdrawal of a Borrower or any of its ERISA Affiliates from a “single employer” Plan during a plan year in which it was a “substantial employer”, both of such terms as defined in Section 4001(a) of ERISA, or (iii) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section 4041 of ERISA, or (iv) the institution of proceedings to terminate a Plan by the PBGC or (v) any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan or (vi) the partial or complete withdrawal of a Borrower or any ERISA Affiliate of such Borrower from a “multiemployer plan” as defined in Section 4001(a) of ERISA.

  • Initial Funding means the funding of the initial Loans or issuance of the initial Letters of Credit upon satisfaction of the conditions set forth in Sections 6.01 and 6.

  • Repricing Event means (a) any prepayment, repayment, refinancing, substitution or replacement of all or a portion of the 2015 Term Loans with the proceeds of, or any conversion of 2015 Term Loans into, any new or replacement Class of, or new facility of, syndicated term loans by the Borrower in the principal amount of the 2015 Term Loans prepaid, repaid, refinanced, substituted, replaced or converted and secured by the Collateral (including Replacement Term Loans or other term loans under this Agreement) having an “effective yield,” determined by the Administrative Agent in consultation with the Borrower (taking into account interest rate margin and benchmark floors, recurring fees and all upfront or similar fees or original issue discount (amortized over four years) paid to the lenders providing such Indebtedness, but excluding any arrangement, structuring, syndication or other fees payable in connection therewith that are not shared ratably with all lenders or holders of such term loans in their capacities as lenders or holders of such term loans), less than the “effective yield” applicable to the 2015 Term Loans being prepaid, repaid, refinanced, substituted, replaced or converted (determined on the same basis as provided in the preceding parenthetical) and (b) any amendment to this Agreement (including pursuant to a Replacement Term Loan or other term loans under this Agreement) to the 2015 Term Loans or any tranche thereof which reduces the “effective yield” applicable to such 2015 Term Loans (as determined on the same basis as provided in clause (a)), in each case only if the primary purpose of such prepayment, repayment, substitution, replacement or amendment was to reduce the “effective yield” applicable to such 2015 Term Loans.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Special Servicer Termination Event shall have the meaning given to such term in the Lead Securitization Servicing Agreement.

  • Training Event means either a Course or Online Training, or both.

  • Vesting Event means the earliest to occur of the following events:

  • Servicer Termination Event shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous concept under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.