Burdensome Termination Event definition

Burdensome Termination Event means the occurrence of any event which gives a Facility Lessee the right to terminate a Facility Lease pursuant to Section 13.1
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Burdensome Termination Event means an event which shall be deemed to have occurred if (A) one or more events have occurred which give rise to an obligation on the part of Lessee to pay or indemnify any costs or expenses under Sections 6(b) or 6(c) of the Participation Agreement or under the Tax Indemnity Agreement if the aggregate amount of such indemnity or other payments would exceed (as to future payments on a present value basis discounted at the Debt Rate) 2.50% of Lessor's Cost or (B) Lessee plans non-severable improvements to the Aircraft which (i) are necessary or desirable in Lessee's sole discretion, (ii) are expected to cost in excess of $2.5 million and (iii) the Owner Participant will not permit to be financed under similar terms then available in the market for similar transaction.
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Burdensome Termination Event means an event which shall be deemed to have occurred if (A) one or more events have occurred which give rise to an obligation on the part of Lessee to pay any costs or expenses or indemnity under Sections 6(b) or 6(c) of the Participation Agreement or under the Tax Indemnity Agreement if the aggregate amount of such indemnity or other payments would exceed (as to future payments on a present value basis discounted semi-annually at the Debt Rate to the determination date) 2.50% of Lessor's Cost, (B) Lessee plans non-severable improvements to the Aircraft which (i) are necessary to comply with any applicable law, regulations, rules or orders or as required by Lessee's insurance policies maintained pursuant to Section 11 of the Lease, in Lessee's sole discretion, (ii) will cost in excess of $2.5 million and (iii) the Owner Participant will not permit to be financed under similar terms then available in the market for similar transactions or (C) Lessee has requested a change in registration or consent to enter into a Sublease with a Permitted Sublessee with respect to the Aircraft, at a time after the Depreciation Period and no Lease Event of Default has occurred and is continuing, in accordance with the procedures and requirements set forth in Section 7(d) of the Participation Agreement and Section 7(b)(x) of the Lease, and the Owner Participant does not consent to such change in registration or sublease in accordance with the provisions of such Section 7(d) and Section 7(b)(x) of the Lease.
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Examples of Burdensome Termination Event in a sentence

  • No Lease Event of Default, Indenture Event of Default, Event of Loss, Burdensome Termination Event or event that, with the passage of time or giving of notice or both, would constitute a Lease Event of Default, Indenture Event of Default, an Event of Loss or Burdensome Termination Event shall have occurred and be continuing.

  • No Event of Loss or Burdensome Termination Event has occurred and no event or condition has occurred which would, with the passage of time or the giving of notice, or both, constitute an Event of Loss or a Burdensome Termination Event.


More Definitions of Burdensome Termination Event

Burdensome Termination Event shall have the meaning set forth in Section 13.1 of the Facility Lease.
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Burdensome Termination Event means the occurrence of any event which gives a Facility Lessee the right to terminate a Facility Lease pursuant to Section 13.1 thereof
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Burdensome Termination Event means the occurrence of any event which gives the Lessee the right to terminate the Network Lease pursuant to Section 13.1 thereof.
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Related to Burdensome Termination Event

  • 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.

  • Company Termination Event means any of the following:

  • Forbearance Termination Event has the meaning set forth in Section 3(a) hereto.

  • Potential Termination Event means an event which, with the giving of notice and/or the lapse of time, would constitute a Termination Event.

  • Control Termination Event shall have the meaning given to such term or any one or more analogous terms in the Lead Securitization Servicing Agreement.

  • Additional Termination Event has the meaning specified in Section 5(b).

  • Termination Events means each of the events specified in Clause 10.3 of this Contract.

  • Consultation Termination Event shall have the meaning assigned to such term or an analogous term in the Servicing Agreement.

  • Swap Termination Event means the occurrence of a “Termination Event” under the Swap Agreement, as defined in the Swap Agreement.]

  • Commitment Termination Event means (a) the occurrence of any Event of Default described in clauses (a) through (d) of Section 8.1.9, or (b) the occurrence and continuance of any other Event of Default and either (i) the declaration of the Loans to be due and payable pursuant to Section 8.3, or (ii) in the absence of such declaration, the giving of notice to the Borrower by the Administrative Agent, acting at the direction of the Required Lenders, that the Commitments have been terminated.

  • Early Termination Event has the meaning specified in Section 9.2.

  • Outside Termination Date shall have the meaning set forth in Section 8.01(f).

  • Additional Disruption Event means any of Change in Law, Hedging Disruption and/or Increased Cost of Hedging.

  • Mandatory Termination Date means the "Termination Date" set forth under "Investment Summary--Essential Information" in the Prospectus for the Trust.

  • 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.

  • Incipient Event of Termination means an event that but for notice or lapse of time or both would constitute an Event of Termination.

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

  • Severe Disruption Event means any event specified as such in the Final Terms.

  • Termination Event means an Illegality, a Tax Event or a Tax Event Upon Merger or, if specified to be applicable, a Credit Event Upon Merger or an Additional Termination Event.

  • Servicer Termination Events (or any analogous term under the Lead Securitization Servicing Agreement) include customary market termination events with respect to failure to make advances, failure to timely remit payments to the Non-Lead Note Holders as required hereunder or under the Lead Securitization Servicing Agreement (subject to no more than one business day grace period), failure to timely deposit amounts into any REO Account or to remit to a Servicer for deposit into a related collection or custodial account, failure to deliver (or cause to be delivered) materials or information required in order for each Non-Lead Note Holder or each Non-Lead Depositor to timely comply with its obligations under the Exchange Act, the Securities Act and Form SF-3, and for rating agency downgrades or other triggers with respect to any certificates issued in connection with a Non-Lead Securitization, subject to customary grace periods (provided that, in the case of failures related to the securities laws, such grace periods will not cause a Non-Lead Depositor to fail to comply with the applicable provisions of such securities laws). Upon the occurrence of such a Servicer Termination Event with respect to the Master Servicer affecting a Non-Lead Securitization Note Holder and the Master Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Master Servicer shall be required, upon the direction of such Non-Lead Securitization Note Holder, to appoint a subservicer with respect to such Non-Lead Securitization Note. Upon the occurrence of a Servicer Termination Event with respect to the Special Servicer affecting a Non-Lead Securitization Note Holder and the Special Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Trustee shall, upon direction of such Non-Lead Securitization Note Holder, terminate the Special Servicer with respect to, but only with respect to, the Mortgage Loan;

  • Termination Upon Change of Control shall not include any termination of the employment of the Executive (a) by the Company for Cause; (b) as a result of the Permanent Disability of the Executive; (c) as a result of the death of the Executive; or (d) as a result of the voluntary termination of employment by the Executive for reasons other than Good Reason.

  • Termination Upon a Change in Control means a termination of Officer’s employment with Corporation within 12 months following a “Change in Control” that constitutes a Termination Other Than For Cause described in Section 2.1(b).

  • Unmatured Termination Event means an event that, with the giving of notice or lapse of time, or both, would constitute a Termination Event.

  • Standstill Termination Date means the earlier of (i) the first anniversary of the Board Rights Termination Date and (ii) the later of (A) the third anniversary of this Agreement or (B) the first anniversary of the date on which both the Purchaser Designated Director has resigned from the Board and the Purchaser has permanently waived and renounced the Purchaser’s Board observation rights and Board designation rights in Section 1 and Section 2 of this Agreement.

  • Effective Termination Date has the meaning set forth in Section 10(b) hereof.