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

  • The date of the intended sale of Collateral (the “Intended Collateral Sale Date”) need not be specified in the Collateral Sale Notice but shall be a date after the related Class B Purchase Right Termination Date described in Section 6.3(B).

  • 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 Equipment Notes held by such Class B Purchaser to the Outstanding Principal Balance of the Class B Equipment Notes held by all Class B Purchasers.

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

  • Unless the Administrative Agent (acting at the direction of the Majority Lenders), in each case, agrees in writing to a longer time period, the Class B Purchase Right shall be exercisable by any one or more Class B Lenders for a period of ten (10) Business Days, commencing on the date on which the Administrative Agent provides the Triggering Event Notice (each such date, a “Class B Purchase Right Termination Date”).

  • 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 Equipment Notes and shall be entitled to all rights and interests to which a Noteholder of the Class A Equipment Notes would be entitled.

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

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

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

  • The Class B Purchase Right shall be exercisable by the Initial Class B Lender for a period of ten (10) Business Days, commencing on the date on which the Administrative Agent provides notice to the Initial Class B Lender of the Expected Class A Lender Interests (the “Class B Purchase Right Termination Date”).

  • The rights of the Class E Purchasers pursuant to this Section 4.13 shall continue regardless of whether (x) any Holder of Class B Equipment Notes previously exercised the Class B Purchase Right pursuant to Section 4.11 or (y) any Holder of Class C Equipment Notes previously exercised the Class C Purchase Right pursuant to Section 4.12.

Related to Class B Purchase Right

  • Stock Purchase Right means a right to purchase Common Stock pursuant to Section 11 below.

  • Stock Purchase Rights means any warrants, options or other rights to subscribe for, purchase or otherwise acquire any shares of Common Stock or any Convertible Securities.

  • Restricted Stock Purchase Right means a right to purchase Stock granted to a Participant pursuant to Section 8.

  • Class C Shares means shares of the Class C Common Stock.

  • Class B Warrants means, collectively, the Common Stock purchase warrants in the form of Exhibit C attached hereto delivered to the Purchasers at the Closing in accordance with Section 2.2(a) hereof, which warrants shall be exercisable immediately and have a term of exercise equal to one year.

  • Class B Investor Interest means, on any date of determination, an amount equal to (a) the Class B Initial Investor Interest, minus (b) the aggregate amount of principal payments made to Class B Certificateholders prior to such date, minus (c) the aggregate amount of Class B Investor Charge-Offs for all prior Transfer Dates pursuant to subsection 4.10(b), minus (d) the amount of the Reallocated Class B Principal Collections allocated pursuant to subsection 4.12(a) on all prior Transfer Dates for which the Collateral Interest Amount has not been reduced, minus (e) an amount equal to the amount by which the Class B Investor Interest has been reduced on all prior Transfer Dates pursuant to subsection 4.10(a) and plus (f) the aggregate amount of Excess Spread allocated and available on all prior Transfer Dates pursuant to subsection 4.11(d) for the purpose of reimbursing amounts deducted pursuant to the foregoing clauses (c), (d) and (e); provided, however, that the Class B Investor Interest may not be reduced below zero.

  • Initial Optional Purchase Date The first Distribution Date following the date on which the Aggregate Loan Balance is less than 10.00% of the Cut-off Date Balance.

  • Purchase Right means an option to purchase shares of Common Stock granted pursuant to the Plan.

  • Class B Shares means the Class B ordinary Shares in the capital of the Company of $0.0001 nominal or par value designated as Class B Shares, and having the rights provided for in these Articles.

  • Class A Warrants means, collectively, the Common Stock purchase warrants delivered to the Purchasers at the Closing in accordance with Section 2.2(a) hereof, which Warrants shall be exercisable immediately and have a term of exercise equal to five (5) years, in the form of Exhibit A attached hereto.

  • Class B Units means the Class B Units of the Company.

  • Repurchase Right means the right granted to the Corporation in accordance with Article D.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Optional Purchase Percentage means 5%.

  • Purchase Rights shall have the meaning set forth in Section 5(c).

  • Class I Shares means Class I Shares in the Company as set forth in the relevant

  • Class B Ordinary Shares shall have the meaning ascribed to it in Section 2.4(a).

  • Optional Purchase Price has the meaning set forth in Section 8.1 of the Sale and Servicing Agreement.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Class D Units has the meaning ascribed to such term in the LLC Agreement.

  • Offering Shares means the shares of Common Stock included in the Units issued pursuant to this Agreement and Investor Warrant Shares.

  • Class A Preferred Shares shall have the meaning ascribed to it in Section 2.4(a).

  • Class A Ordinary Shares shall have the meaning ascribed to it in Section 2.4(a).

  • Initial Note A-7 Holder shall have the meaning assigned to such term in the preamble to this Agreement.

  • Rights Offering Shares means the shares of New Common Stock (including all Unsubscribed Shares purchased by the Commitment Parties pursuant to this Agreement) distributed pursuant to and in accordance with the Rights Offering Procedures.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.