Default Purchase Option definition

Default Purchase Option means the option granted to the Indenture Trustee on behalf of the Second Mortgage Note Holders pursuant to Section 6 hereof to purchase the Bank Secured Obligations.
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Default Purchase Option has the meaning given in Section 4.5(b).
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Default Purchase Option. Section 15.1.
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Examples of Default Purchase Option in a sentence

  • Disposal of non-controlled medications is documented on the Drug Disposal form.

  • The foregoing power of attorney is irrevocable and coupled with an interest, and shall survive the death, disability, incapacity, dissolution, Bankruptcy or termination of any Class A Member and the closing of the Default Purchase Option, and it shall extend to such Class A Member’s heirs, successors, assigns and personal representatives.

  • This City right is separate and distinct from the Default Purchase Option described above and no other provisions of this Section 17 shall limit or invalidate City's rights contained in this paragraph.

  • The Default Purchase Option is given in consideration of the economic benefits received by Owner from ownership of the Residence made possible by City requiring the Developer to sell the Residence at less than its fair market value.

  • Default Purchase Option.....................................................

  • If there is a Permitted Mortgagee, the CLT may exercise the Default Purchase Option as provided in the Rider or Standard Permitted Mortgage Agreement, as applicable.

  • If there is no Permitted Mortgagee, the CLT may exercise the Default Purchase Option within 30 days after an Event of Default by notifying the Homeowner and if the CLT sends timely notification the CLT and the Homeowner shall proceed under the section with the descriptive heading Purchase Option as if the CLT timely issued an exercise notice.


More Definitions of Default Purchase Option

Default Purchase Option means the right (without any obligation) to purchase, at any time in the period that begins when all commitments to extend credit constituting all Priority Lien Indebtedness have terminated and all Priority Lien Indebtedness has matured (whether at the stated maturity, upon acceleration or otherwise, including by virtue of the commencement of an Insolvency or Liquidation Proceeding) and ends on the 20th Business Day after receipt by the Trustee of written notice of such maturity or termination from the Priority Lien Agent, all, but not less than all, of the principal of and interest on and all prepayment or acceleration penalties and premiums in respect of all Priority Lien Indebtedness outstanding at the time of purchase and all other Priority Lien Obligations (except Unasserted Contingent Obligations) then outstanding, together with all Liens securing such Priority Lien Indebtedness and all Guarantees and other supporting obligations relating to such Priority Lien Indebtedness:
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Default Purchase Option means the right (without any obligation) to purchase, at any time in the period that begins when all commitments to extend credit
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Default Purchase Option means the option granted to a representative on behalf of the Second Lien Secured Parties pursuant to Section 7 to purchase all but not less than all of the First Lien Secured Obligations.
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Related to Default Purchase Option

  • Purchase Option Notice As defined in Section 3.18(e).

  • Purchase Option Period As defined in Section 9.03(a) hereof.

  • Purchase Option Price means the amount payable by a Lessee upon the exercise of its option to purchase a related 2018-1 Vehicle which amount equals (a) with respect to a Matured Vehicle, the Contract Residual Value plus any fees, taxes and other charges imposed in connection with such purchase and (b) with respect to a related 2018-1 Vehicle for which the related 2018-1 Lease has been terminated early by the Lessee, the sum of (i) any unpaid Monthly Payments due, (ii) any fees, taxes and other charges imposed in connection with the related 2018-1 Lease, (iii) an early termination fee and (iv) the Actuarial Payoff.

  • Repurchase Option has the meaning set forth in Section 1.3(a) hereto.

  • Conversion Right has the meaning provided in Section 4.5(a) hereof.

  • Purchase Option As defined in Section 3.18(c).

  • Conversion Option means the Company’s option to convert some or all of the Series D Preferred Stock into that number of shares of Common Stock that are issuable at the then-applicable conversion rate as described in Section 8(c) of these Articles Supplementary.

  • Note Shares means the shares of Common Stock issuable upon conversion of the Notes.

  • Conversion Securities has the meaning set forth in Section 4.08(b).

  • Put Right has the meaning set forth in Section 8.05(a).

  • Warrant Securities means this Warrant and the Warrant Shares, collectively.

  • Early Preference Share Redemption Notice means a notice of early redemption of some or all of the Preference Shares given by or on behalf of the Company in accordance with Condition 6 (Notices).

  • Series 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 from the Closing Date and have a term of exercise equal to five (5) years, in the form of Exhibit A attached hereto.

  • SPAC Warrants means SPAC Private Warrants and SPAC Public Warrants, collectively.

  • Series A Purchase Agreement means the Series A Preferred Unit Purchase Agreement, dated as of June 20, 2017, by and among the Partnership and the Series A Purchasers thereunder, as may be amended from time to time.

  • Interest Shares means the shares of Common Stock and the related Preferred Share Purchase Rights issuable in payment of interest on the Note.

  • Option Warrants shall have the meaning ascribed to such term in Section 2.2(a).

  • Conversion Rights means exchange of, or the rights to exchange, the Principal Amount of the Loan, or any part thereof, for fully paid and nonassessable Common Stock on the terms and conditions provided in the Debentures.

  • Series C Warrants means, collectively, the Series C 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 9 months, in the form of Exhibit A attached hereto.

  • 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.

  • Shoe Option means the Initial Purchasers’ option to purchase up to seventy five million dollars ($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement.

  • Series B Warrants means, collectively, the Series B Common Stock purchase warrants delivered to the Purchasers at the Closing in accordance with Section 2.2(a) hereof and the other Series B Warrants contemplated under Section 2.1 to be issued concurrently at the Closing, which Series B Warrants shall be exercisable beginning immediately and have a term of exercise equal to five (5) years, in the form of Exhibit B-2 attached hereto.

  • Series D Warrants means series D share purchase warrants of the Corporation issued to RTIH on May 22, 2012 in connection with the 2012 Rights Offering in accordance with the 2012 MoA, the terms of which are more particularly described under the heading “General Development of the Business – Agreements with the Rio Tinto Group – 2012 MoA”.

  • First Refusal Right means the right granted to the Corporation in accordance with Article E.

  • Registration Notice has the meaning specified in Section 2.1(a).

  • Conversion Shares means, collectively, the shares of Common Stock issuable upon conversion of the shares of Preferred Stock in accordance with the terms hereof.