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Declassification Event definition

Declassification Event means a failure by the relevant Parties to agree the amendments referred to in Section 10.02(e)(ii) (in accordance with the terms of that Section) within thirty (30) Business Days following the occurrence of a Sustainability Amendment Event.
Declassification Event means a failure by the Canadian Borrower and the Administration Agent (acting on the instructions of the Majority Lenders) to establish SPT Metrics in respect of GHG Emissions and Percentage of Women in Management Roles, or one or more Alternative SPT Metrics in accordance with Section 4.14(c), within 15 months after the last Applicable Sustainability Margin Adjustment; provided, that, the last day of effectiveness of the most recent Applicable Sustainability Margin Adjustment shall be the day that is 12 months after the most recent Sustainability Margin Adjustment Date.”;
Declassification Event means failure by the Borrower to deliver a Sustainability Certificate pursuant to Section 1.6(e) (by the last day such Sustainability Certificate could have been timely delivered in accordance with the terms of such Section) for two (2) consecutive Reference Years.

Examples of Declassification Event in a sentence

  • On and at any time after the occurrence of a Declassification Event the Agent may, and shall if so directed by the Majority Lenders, by no less than 30 (thirty) Business Days' notice to the Borrower, declassify the Facility as "sustainability- linked".


More Definitions of Declassification Event

Declassification Event means (a) failure by the relevant parties to enter into a Sustainability Amendment within 90 days of the occurrence of a Sustainability Amendment Event or (b) a failure by the Borrower to deliver a Pricing Certificate pursuant to Section 2.19.(a) (by the last day such Pricing Certificate could have been delivered pursuant to the terms of such Section) for two consecutive calendar years.
Declassification Event means a failure by the relevant Parties to, agree the amendments referred to in sub-clause 34.4.2 of Clause 34.4 (Sustainability amendments) following the occurrence of a Sustainability Amendment Event, within the time periods, and otherwise in the manner, in each case, set out in that Clause; 1.1.28. "Default" means an Event of Default or any event or circumstance specified in Clause 22 (Events of Default) which would (with the expiry of any applicable grace period, the giving of notice, the making of any determination under the Finance Documents or any combination of any of the foregoing) be an Event of Default; 1.1.29. "Disruption Event" means either or both of: 1.
Declassification Event means an event which would eliminate the need for continued classification.
Declassification Event means: (a) a failure by the Parties to agree the amendments referred to in sub-clause 27.5.2 (Sustainability Amendments) (in accordance with the terms of Clause 27.5 (Sustainability Amendments)) within 40 Business Days following notification by the Parent to the Facility Agent of the occurrence of a Sustainability Amendment Event in accordance with Clause 27.5.1 (Sustainability Amendments); or (b) a failure by the Parent to deliver a Sustainability Certificate in accordance with Clause 14.5 (Compliance certificates) for two consecutive Sustainability Performance Periods. "Defaulting Lender" means any Lender: (a) which has failed to make its participation in an Advance available or has notified the Facility Agent or the Swingline Agent (as appropriate) that it will not make its participation in an Advance available by the Drawing Date of that Advance in accordance with Clause 3.1 (Participation in Revolving Facility Advances) or sub- clause 6.
Declassification Event means: (a) the Company fails to deliver a Sustainability KPI Certificate pursuant to Clause 9.10 ( Sustainability reporting) on two consecutive dates on which such Sustainability KPI Certificate should have been delivered (or within any applicable grace period); or (b) the Sustainability KPI Certificate delivered by the Company pursuant to Clause 9.10 ( Sustainability reporting) on two consecutive dates includes material reserves from the Sustainability Auditor. "Iponweb" means the companies, business and assets of IPONWEB acquired by the Company, as further described and disclosed by the Company in a Form 8-K dated 3 August 2022. "KPI Overperforming Event" means, with respect to Sustainability Sub-KPI 1.2 or Sustainability KPI 2, the achievement of one or more Target Score(s) one year or more ahead of time (unless the level of the relevant Target Score for the current KPI Relevant Period and the following KPI Relevant Period is the same). "SLLP" means the Sustainability-Linked Loan Principles published by the LMA and updated from time to time. "Sustainability Coordinator" means any Lender appointed from time to time by the Company to act in such capacity, and which has become Party to this Agreement in such capacity pursuant to Clause 33.19 (Appointment of Sustainability Coordinator(s)). "Sustainability Information" means all information (including sustainability performance projections and forecasts) which has been: (a) provided by or on behalf of a member of the Group to a Finance Party and/or to the Sustainability Coordinators; or

Related to Declassification Event

  • MREL Disqualification Event means that, at any time, all or part of the outstanding nominal amount of Securities is or will be excluded fully or partially from the eligible liabilities available to meet the MREL Requirements provided that: (a) the exclusion of a Series of such Securities from the MREL Requirements due to the remaining maturity of such Securities being less than any period prescribed thereunder, does not constitute a MREL Disqualification Event; (b) the exclusion of all or some of a Series of Securities due to there being insufficient headroom for such Securities within a prescribed exception to the otherwise applicable general requirements for eligible liabilities does not constitute a MREL Disqualification Event; and (c) the exclusion of all or some of a Series of Securities as a result of such Securities being purchased by or on behalf of the Issuer or as a result of a purchase which is funded directly or indirectly by the Issuer, does not constitute a MREL Disqualification Event.

  • Dissolution Event means (i) a voluntary termination of operations, (ii) a general assignment for the benefit of the Company’s creditors or (iii) any other liquidation, dissolution or winding up of the Company (excluding a Liquidity Event), whether voluntary or involuntary.

  • Conversion Event means the cessation of use of (i) a Foreign Currency both by the government of the country or the confederation which issued such Foreign Currency and for the settlement of transactions by a central bank or other public institutions of or within the international banking community or (ii) any currency unit or composite currency for the purposes for which it was established.

  • 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.

  • Adjustment Event means each of the following events:

  • Reclassification means the upgrading of a position to a higher classification as a result of the gradual increase of the duties being performed by the incumbent in that position.