Consent Payments definition
Examples of Consent Payments in a sentence
Notwithstanding the foregoing, the Company and its Subsidiaries may not, subsequent to the payment by the Company of the Additional Consent Payments, directly or indirectly, make any Investment in Wireless Cable Related Assets other than Permitted Assets, except as permitted under clause (xv) of the following paragraph.
Subject to the satisfaction of the conditions set forth in Section 5.2 hereof, NSC and CSX shall ensure that CRC has sufficient cash to make, and CRC shall make, the Secured Cash Payments and the Lease Consent Payments at the Closing.
The Company also hereby instructs the Trustee to distribute to the Consenting Holders the Consent Payments (as each such term is defined in the Consent Solicitation Statement) in the amounts, and at the times, specified in the Consent Solicitation Statement.
The parties shall seek such consents on the terms and subject to the conditions set forth herein and/or on such other terms as may be agreed by CRC, NSC and CSX as necessary or appropriate in order to facilitate obtaining such consents, including without limitation, the amount of the Secured Cash Payments and any payments required to obtain the Lease Consents (the "Lease Consent Payments").
Notwithstanding anything contained herein, Seller and Buyer each agree to pay 50% of all Consent Payments; provided, however, the decision to accept a Consent Payment shall be in the Buyer’s sole discretion.
Notwithstanding the foregoing, the amendments set forth in Sections 3 and 4 below shall not become operative until the time the Co-Obligors accept for payment the Notes tendered in the Offer, the tender of which represents the principal amount of the Notes outstanding at least equal to the Requisite Consents, and any Subordinated Notes Tender Consideration and any Subordinated Notes Consent Payments (as defined in the Offer to Purchase) are paid for in accordance with the Offer to Purchase.
Treatment of Consent Payments There is no direct authority with respect to the federal income tax consequences of receiving the consent payment.
If, after the date hereof, the Offer is terminated or withdrawn, the Notes accepted for payment pursuant to the Offer are not paid, or the Consent Payments (as defined in the Statement) are not made, on the Payment Date (as defined in the Statement), this Supplemental Indenture shall no longer be effective.
The Trustee shall be entitled to rely conclusively on a certificate from the President or Chief Financial Officer of Metrocall that the Securities have been accepted for payment and the Offer Consideration and Consent Payments have been paid to or deposited with the Depositary.
This Supplemental Indenture shall become effective immediately upon its execution and delivery by the Company, the Guarantor and the Trustee but the amendments to the Indenture set forth in Article One shall become operative only upon payment of the Consent Payments (as defined in the Consent Solicitation Statement) and shall thereafter bind, or inure to the benefit of, every Holder.