Class B Purchase Right definition

Class B Purchase Right has the meaning given to such term in Section 4.11.
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Class B Purchase Right has the meaning specified in Section 6.03(a).
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Class B Purchase Right. Within ten (10) Business Days after the occurrence of a Triggering Event, the Facility Agent shall deliver written notice to the Agents for the Class B Lenders of (i) the Class A Obligations, (ii) the Class A Obligations expected to accrue through the Class B Purchase Option Exercise Date and (iii) the amount of all liabilities (without duplication) that it has incurred in the nature of indemnification obligations of the Borrower hereunder which have resulted in any loss, cost, damage or expense (including reasonable counsel fees and legal expenses) to the Class A Revolving Lenders (collectively, “Class A Indemnification Liabilities”). The Class B Purchase Right shall be exercisable by all or any of the Class B Lenders for a period of twenty (20) days, commencing on the date on which the Facility Agent provides the notice described in the preceding sentence to the Agents for the Class B Lenders (the “Class B Purchase Right Termination Date”). Prior to the Class B Purchase Right Termination Date, the Class B Lenders may exercise the Class B Purchase Right upon written notice to the Facility Agent (the “Class B Purchase Option Notice”), which notice shall be irrevocable and shall specify the date on which such right is to be exercised by the Class B Lenders (such date, the “Class B Purchase Option Exercise Date”), which shall be a Business Day not more than twenty (20) days after receipt by the Facility Agent of such notice. On the Business Day prior to the Class B Purchase Option Exercise Date, the Facility Agent shall deliver written notice to the Agents for the Class B Lenders specifying the Class A Obligations and the Class A Indemnification Liabilities of which it is then aware (collectively, the “Class B Purchase Option Amount”). Notwithstanding the foregoing, following the occurrence of a Triggering Event, but prior to the Agents’ and the Class B Lenders’ receipt of the notice required to be delivered by the Facility Agent pursuant to this Section 0, neither the Collateral Agent nor the Directing Agent may sell or liquidate any of the Collateral.
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Examples of Class B Purchase Right in a sentence

  • Upon receipt of any such notice, the Administrator will calculate the then Class B Purchase Right Outstanding Priority Balance.

  • The rights of the Class C Purchasers pursuant to this Section 4.12 shall continue regardless of whether any Noteholder of Class B Notes previously exercised the Class B Purchase Right pursuant to Section 4.11.

  • Following all Class B Purchaser’s payment of their portion of the Class B Purchase Right Outstanding Priority Balance, each applicable Class B Purchaser shall be the Noteholder of the applicable Class A Notes and shall be entitled to all rights and interests to which a Noteholder of the Class A Notes would be entitled.

  • Payment of the Class B Purchase Right Outstanding Priority Balance will in each case be made ratably by each Class B Purchaser based on the ratio of the Outstanding Principal Balance of the Class B Notes held by such Class B Purchaser to the Outstanding Principal Balance of the Class B Notes held by all Class B Purchasers.