Debt Event definition

Debt Event means the date on which the Issuer and any Subsidiary of the Issuer enters into one or more transactions for the incurrence or guarantee of indebtedness greater than US$25,000,000 (or its equivalent) in any one financial year of the Issuer that is not linked to the Business;
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Debt Event means the issuance or incurrence by the Borrower or any Significant Subsidiary of any Debt other than under this Agreement or under the Other Credit Agreements. "DEBTOR LAWS" means the Bankruptcy Code of the United States of America and all other applicable liquidation, conservatorship, bankruptcy, moratorium, rearrangement, receivership, insolvency, re-organization, suspension of payments or similar Legal Requirements affecting creditors' Rights.
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Debt Event means the incurring of any Finance Debt by HE. Relevant Event means any of the following: (a) the initial public offering of shares in HE, (b) the issuing of shares or notes or the raising of financial accommodation by HE (or an entity controlled by HE) which raises in excess of $7,000,000, (c) the sale, or transfer of the assets of HE or a substantial part of the assets of HE (without the consent of RLB or
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Examples of Debt Event in a sentence

  • After the occurrence and during the continuance of a Sub Debt Event of Default (as defined below), in addition to all other rights and remedies, the outstanding principal balance of this Note (and to the extent permitted by applicable law, all unpaid interest) shall bear interest at a rate equal to fifteen percent (15%) per annum, or such lesser rate which is the maximum rate of interest permitted by law.

  • In case of the Market Debt Event, the Interest rate for the next and each further charging period until repayment shall be reset to the coupon rate on such market debt plus a premium (“Premium”), but in no case will exceed 8.25%.

  • Such step-up applies for each Senior Debt Event but can only occur once in relation to a single Senior Debt Event.

  • Any waive of a Subordinated Debt Event of Default shall be effective only in accordance with its terms and may be restricted or conditioned n any way.

  • No Subordinated Debt Event of Default, or event which, with the passing of time or the giving of Notice, or both, would constitute a Subordinated Debt Event of Default, has occurred and is continuing.

  • The Holders of the Trust Common Securities will be entitled to receive Liquidation Distributions upon any such dissolution, pro rata (determined as aforesaid) with Holders of Trust Preferred Securities, except that, if a Debt Event of Default has occurred and is continuing, the Trust Preferred Securities shall have a priority over the Trust Common Securities as provided in Section 403.

  • No waiver of any Subordinated Debt Event of Default shall constitute a waiver of continuance or recurrence of such Subordinated Debt Event of Default or of any other Subordinated Debt Event of Default, except as provided in such waiver.

  • If a Subordinated Debt Event of Default shall occur, it may be waived by Notice form Lender; however, any such waiver shall be subject to the Lender's rights under Section 8.2.

  • The Escrow Bonds will have the same terms as the Bonds in all respects, save that the Escrow Bonds will benefit from certain escrow and security arrangements and holders of Escrow Bonds will have an option to redeem the Escrow Bonds if a Stage 2 Debt Event does not occur, all as provided in the terms and conditions of the Escrow Bonds.

  • The New Lender hereby agrees that the Company may pay to the Junior Creditor, and the Junior Creditor may accept from the Company, the Permitted Payments as and when due and payable in accordance with the Junior Note, provided that no event of default under the Protected Indebtedness (a “New Debt Event of Default”) has occurred or would occur upon the making of such Permitted Payment.


More Definitions of Debt Event

Debt Event means a Change in Law, Change in Tax, Force Majeure Event, Buyer Default, Expropriation or the implementation of a Restoration that has the effect stated in Clause 14.7.
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Debt Event means the issuance or incurrence by the Borrower or any Significant Subsidiary of any Debt other than under this Agreement or under the Other Credit Agreements.
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Debt Event means, the issuance or incurrence by the Parent or any of its Subsidiaries after December 15, 2002 of any Indebtedness in excess of $10,000,000 other than (A) Indebtedness hereunder, under the Parent Facility, any of the Utility Facilities, the AER Notes, the Wxxxxxx Financing or any other revolving credit facilities of Subsidiaries of the Parent (in each case described in this clause (A) including refinancings and extensions thereof but without giving effect to any increases thereto subsequent to the date hereof), (B) Nonrecourse Debt, in an aggregate principal amount not to exceed $62,000,000 (up to $6,000,000 of which may be guaranteed by the Parent and which may also include a letter of credit in the amount of $10,764,000), in connection with the purchase by the Parent or any of its Subsidiaries of a 309 megawatt natural gas fired power plant in Neenah, Wisconsin from Mirant Corporation, (C) Indebtedness issued by any Foreign Subsidiary of the Parent, so long as it is not Indebtedness of the Parent or any Subsidiary of the Parent that is not a Foreign Subsidiary and the proceeds of the issuance of such Indebtedness is not repatriated to the Parent or any Subsidiary of the Parent that is not a Foreign Subsidiary, (D) the issuance of commercial paper by the Parent or any of its Subsidiaries, (E) the issuance or incurrence of any Indebtedness by either of the Utilities, except to the extent that the proceeds of such Indebtedness are paid by such Utility to the Parent as a dividend (as declared by the Board of Directors of such Utility in its sole discretion in compliance with all applicable regulatory restrictions) and (F) any intercompany Indebtedness issued by the Parent to any of its wholly-owned Subsidiaries or by any such Subsidiary to the Parent or any of its wholly-owned Subsidiaries (including, without limitation, Indebtedness incurred under the Utility Money Pool and the Non-Utility Money Pool); provided, that the foregoing shall not be deemed to imply that any such Debt Event is permitted under this Agreement.
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Debt Event means, on any date before December 31, 2002, the issuance or incurrence (i) by the Borrower of any Debt, or (ii) by any Subsidiary of the Borrower of any Debt in excess of $15,000,000, other than (A) Debt hereunder or under the Utility Facilities, (B) Nonrecourse Debt, in an aggregate principal amount not to exceed $60,000,000, in connection with the purchase by the Borrower or any of its Subsidiaries of a 309 mega-watt natural gas fired power plant in Neenah, Wisconsin from Mirant Corporation, (C) Debt issued by any Foreign Subsidiary of the Borrower, so long as it is not Debt of the Borrower or any Subsidiary of the Borrower that is not a Foreign Subsidiary and the proceeds of the issuance of such Debt is not repatriated to the Borrower or any Subsidiary of the Borrower that is not a Foreign Subsidiary, (D) the issuance of commercial paper by the Borrower or any of its Subsidiaries, and (E) any intercompany Debt issued by the Borrower to any of its wholly-owned Subsidiaries or by any such Subsidiary to the Borrower or any of its wholly-owned Subsidiaries; provided, that the foregoing shall not be deemed to imply that any such Debt Event is permitted under this Agreement.
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Related to Debt Event

  • Acquisition Event means a merger or consolidation in which the Company is not the surviving entity, any transaction that results in the acquisition of all or substantially all of the Company’s outstanding Common Stock by a single person or entity or by a group of persons and/or entities acting in concert, or the sale or transfer of all or substantially all of the Company’s assets.

  • Equity Event is the receipt by Borrower on or after the Effective Date of unrestricted net cash proceeds of not less than Forty Million Dollars ($40,000,000.00) from the issuance and sale by Borrower of its equity securities, on or before March 31, 2016 and the receipt of evidence thereof by Collateral Agent on or before such date, which evidence must be reasonably acceptable to Collateral Agent.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Put Event means the occurrence of:

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • Debt Incurrence Prepayment Event means any issuance or incurrence by the Borrower or any of the Restricted Subsidiaries of any Indebtedness (excluding any Indebtedness permitted to be issued or incurred under Section 10.1 other than Section 10.1(w)(i)).

  • Realization Event means (i) the consummation of a Sale of the Company; or (ii) any transaction or series of related transactions in which the Investor sells at least 50% of the Shares directly or indirectly acquired by it (from the Company or otherwise) and at least 50% of the aggregate of all Investor Investments.

  • 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.

  • Debt Repayment Triggering Event means any event or condition which gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

  • Reinvestment Event any Asset Sale or Recovery Event in respect of which the Borrower has delivered a Reinvestment Notice.

  • Capital Event means and includes: (i) any transaction involving the sale, exchange or other disposition of the Project or the Company (but excluding any incidental sales or exchanges of tangible personal property and fixtures), (ii) any financing, refinancing or borrowing secured by the Project or the Company, and (iii) any condemnation or recovery of damage awards and property insurance proceeds (excluding proceeds from any rent or business interruption insurance).

  • Asset Sale Prepayment Event shall not include any transaction permitted by Section 10.4 (other than transactions permitted by Section 10.4(b) and Section 10.4(o), which shall constitute Asset Sale Prepayment Events).

  • Repayment Event means any event or condition which gives the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • Qualified Equity Financing means the first sale (or series of related sales) by the Company of its Preferred Stock following the Date of Issuance from which the Company receives gross proceeds of not less than $1,000,000 (excluding the aggregate amount of securities converted into Preferred Stock in connection with such sale or series of related sales).

  • Deemed Liquidation Event means (a) a merger or consolidation in which (i) the Corporation is a constituent party or (ii) a subsidiary of the Corporation is a constituent party and the Corporation issues shares of its capital stock pursuant to such merger or consolidation, except any such merger or consolidation involving the Corporation or a subsidiary in which the shares of capital stock of the Corporation outstanding immediately prior to such merger or consolidation continue to represent, or are converted into or exchanged for shares of capital stock that represent, immediately following such merger or consolidation, at least a majority, by voting power, of the capital stock of (1) the surviving or resulting corporation; or (2) if the surviving or resulting corporation is a wholly owned subsidiary of another corporation immediately following such merger or consolidation, the parent corporation of such surviving or resulting corporation; or (b) the sale, lease, transfer, exclusive license or other disposition, in a single transaction or series of related transactions, by the Corporation or any subsidiary of the Corporation of all or substantially all the assets of the Corporation and its subsidiaries taken as a whole, or the sale or disposition (whether by merger, consolidation or otherwise) of one or more subsidiaries of the Corporation if substantially all of the assets of the Corporation and its subsidiaries taken as a whole are held by such subsidiary or subsidiaries, except where such sale, lease, transfer, exclusive license or other disposition is to a wholly owned subsidiary of the Corporation.

  • Liquidity Event means a Change of Control or an IPO.

  • Liquidation Event means, whether in a single transaction or series of transactions, the voluntary or involuntary liquidation, dissolution or winding up of the Company or such Subsidiaries the assets of which constitute all or substantially all of the assets of the business of the Company and its Subsidiaries, taken as a whole.

  • Disposition Event means any merger, consolidation or other business combination of the Corporation, whether effectuated through one transaction or series of related transactions (including a tender offer followed by a merger in which holders of Class A Common Stock receive the same consideration per share paid in the tender offer), unless, following such transaction, all or substantially all of the holders of the voting power of all outstanding classes of Common Stock and series of Preferred Stock that are generally entitled to vote in the election of Directors prior to such transaction or series of transactions, continue to hold a majority of the voting power of the surviving entity (or its parent) resulting from such transaction or series of transactions in substantially the same proportions as immediately prior to such transaction or series of transactions.

  • Significant Event means any Amortization Event or Event of Default.

  • Subordination Event means any one of the following events:

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

  • Qualified Financing is a transaction or series of transactions pursuant to which the Company issues and sells shares of its capital stock for aggregate gross proceeds of at least $5,000,000 (excluding all proceeds from the incurrence of indebtedness that is converted into such capital stock, or otherwise cancelled in consideration for the issuance of such capital stock) with the principal purpose of raising capital.

  • Restructuring Event means the occurrence of any one or more of the following events:

  • Recapitalization Event means any event of share combination or subdivision, distribution of bonus shares or any other similar reclassification, reorganization or recapitalization of the Company’s share where the shareholders retain their proportionate holdings in the Company.

  • Prepayment Event means any Asset Sale Prepayment Event, Debt Incurrence Prepayment Event, Casualty Event or any Permitted Sale Leaseback.