Designated Interest definition

Designated Interest. The aggregate sum of $10,000,000.00, representing the portion of the interest of Tranche A Term Loan that would otherwise have accrued and become payable with respect to the Tranche A Term Loan during the first year of this Agreement but which will instead be prepaid on the Effective Date.
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Designated Interest has the meaning set forth in the recitals.
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Designated Interest means: (i) as to the West Hastings Unit, a working interest of 89.33682% and a net revenue interest of 78.94105%; (ii) as to the East Hastings Field, a working interest of 100% and a net revenue interest of 87.5%; (iii) as to a Lease in the West Hastings Unit, the working interest and net revenue interest set forth for such Lease in Exhibit “C”; (iv) as to a Lease in the East Hastings Field, the working interest and net revenue interest set forth for such Lease in Exhibit “C”; as to a well in the West Hastings Unit, the working interest and net revenue interest set forth for such well in Exhibit “B-1”; as to a well in the East Hastings Field, the working interest and net revenue interest set forth for such well in Exhibit “B-2”; and, as to any other Asset, the ownership interest of Optionor in such Asset to be conveyed to Optionee, less and except the Optionor’s reserved overriding royalty interest as set forth in Section 1.27(a). If following the Agreement Effective Time and prior to the Option Exercise Date Optionor acquires additional interests in the Hastings Field, the Designated Interests shall be adjusted to reflect such acquisitions(s). The Designated Interests for all of the above Assets are referred to collectively as the “Designated Interests.”
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Examples of Designated Interest in a sentence

  • Each Guaranteed Creditor that is a counterparty to a Designated Interest Rate Protection Agreement or Designated Treasury Services Agreement, in its capacity as such, agrees to be bound by this Section 12 to the same extent as a Lender hereunder.

  • Any reference herein to the satisfaction, repayment, or payment in full of the Secured Obligations shall mean the repayment in full of all of the Secured Obligations other than (x) contingent indemnification obligations not then due and (y) obligations and liabilities under Designated Interest Rate Protection Agreements, Designated Hedge Agreements and Designated Treasury Services Agreements.

  • Any reference herein to the satisfaction, repayment, or payment in full of the Secured Obligations shall mean the repayment in full of all of the Secured Obligations other than (x) contingent indemnification obligations not then due and (y) obligations and liabilities under Designated Interest Rate Protection Agreements and Designated Treasury Services Agreements.

  • Notwithstanding the foregoing, Obligations arising under Designated Interest Rate Protection Agreements, Designated Hedge Agreements and Designated Treasury Services Agreements shall be excluded from the application described above if the Administrative Agent has not received written notice thereof, together with such supporting documentation as the Administrative Agent may request, from the applicable Guaranteed Creditor.

  • The Borrower will not designate any Designated Interest Rate Agreement or Designated Cash Management Obligations as Secured Obligations for purposes of the Security Agreement if, immediately after giving effect to such designation, the aggregate notional principal amount of all such agreements then in effect which are Secured Obligations would exceed the lesser of the aggregate amount of the Commitments at such time in effect hereunder and the Borrowing Base in effect at such time.

  • After the expiry of the first Designated Interest Period for that overdue amount, the rate on the overdue amount will be calculated in accordance with sub-paragraph (i) above.

  • As used in this Agreement, “Termination Date” shall mean the date upon which the Total Commitment under the Credit Agreement has been terminated and all Credit Document Obligations have been paid in full, no Note under the Credit Agreement is outstanding and all Term Loans thereunder have been repaid in full (other than (x) contingent indemnification obligations and (y) obligations and liabilities under Designated Interest Rate Protection Agreements and Designated Treasury Services Agreements).

  • After the expiry of the first Designated Interest Period for that overdue amount, the rate on the overdue amount will be calculated in accordance with sub-paragraph (a) above.

  • If, within 120 days after the Majority Member gives such notice, the sale of the Designated Interest by the Majority Member in accordance herewith has not been completed, the Majority Member shall return to each Member all instruments or other documentation representing the Designated Interest that such Member delivered for sale pursuant hereto.

  • In the event that a Member should fail to deliver such instruments to the Majority Member, the Company shall cause its books and records to show that such Designated Interest is bound by the provisions of this Section 12.10(b) and that such Designated Interest shall be transferred only to the third party purchaser upon surrender for transfer by the holder thereof.


More Definitions of Designated Interest

Designated Interest. Rate." 8% per annum.
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Designated Interest means an allotment interest which has been designated to a defined individual through a valid will or other conveyance.
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Related to Designated Interest

  • related interest means (1) a company (other than an insured bank or a foreign bank) that is controlled by an executive officer, director, or principal shareholder or (2) a political or campaign committee that is controlled by or the funds or services of which will benefit an executive officer, director, or principal shareholder. See Section 215.11(a)(2) of

  • Related interests means the interests of a coastal State directly affected or threatened by a wreck, such as:

  • Accreted Interest Interest accrued on a Loan that is added to the principal amount of such Loan instead of being paid as it accrues.

  • Allocated interests means the following interests allocated to each unit:

  • registered interest means an international interest, a registrable non-consensual right or interest or a national interest specified in a notice of a national interest registered pursuant to Chapter V;

  • Vested Interest means a Participant’s nonforfeitable interest in his or her Account, determined in accordance with Article V.

  • Transferred Interest means, at any time of determination, an undivided percentage ownership interest in (i) each and every then outstanding Receivable, (ii) all Related Security with respect to each such Receivable, (iii) all Collections with respect thereto, and (iv) other Proceeds of the foregoing, which undivided ownership interest shall be equal to the Aggregate Percentage Factor at such time, and only at such time (without regard to prior calculations). The Transferred Interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, shall at all times be equal to the Transferred Interest in each other Receivable, together with Related Security, Collections and Proceeds with respect thereto. To the extent that the Transferred Interest shall decrease as a result of a recalculation of the Aggregate Percentage Factor, the Administrative Agent on behalf of the applicable Class Investors shall be considered to have reconveyed to the Transferor an undivided percentage ownership interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, in an amount equal to such decrease such that in each case the Transferred Interest in each Receivable shall be equal to the Transferred Interest in each other Receivable.

  • Class LB Uncertificated Interest An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement hereto.

  • Offered Interest has the meaning set forth in Section 11.2.1.

  • Class LE Uncertificated Interest An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement hereto.

  • Imputed Interest means any interest imputed under Section 1272, 1274 or 483 or other provision of the Code and any similar provision of state and local tax law with respect to the Corporate Taxpayer’s payment obligations under this Agreement.

  • Uncertificated Interest With respect to any REMIC I Regular Interest for any Distribution Date, one month's interest at the REMIC I Remittance Rate applicable to such REMIC I Regular Interest for such Distribution Date, accrued on the Uncertificated Balance thereof immediately prior to such Distribution Date. Uncertificated Interest in respect of any REMIC I Regular Interest shall accrue on the basis of a 360-day year consisting of twelve 30-day months. Uncertificated Interest with respect to each Distribution Date, as to any REMIC I Regular Interest, shall be reduced by an amount equal to the sum of (a) the aggregate Prepayment Interest Shortfall, if any, for such Distribution Date to the extent not covered by payments pursuant to Section 3.24 and (b) the aggregate amount of any Relief Act Interest Shortfall, if any allocated, in each case, to such REMIC I Regular Interest pursuant to Section 1.02. In addition, Uncertificated Interest with respect to each Distribution Date, as to any REMIC I Regular Interest shall be reduced by Realized Losses, if any, allocated to such REMIC I Regular Interest pursuant to Section 1.02 and Section 4.04.

  • Stated Interest Rate “Subordination Agent”, “Taxes”, “Threshold Rating”, “Transfer”, “Trust Agreement”, “Trustee”, “Underwriters”, “Underwriting Agreement”, “United”, and “United Bankruptcy Event”.

  • Class LD Uncertificated Interest An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement hereto.

  • Deferred Interest shall have the meaning set forth in Section 4.1.

  • Class LC Uncertificated Interest An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement hereto.

  • REO Imputed Interest As to any REO Property, for any calendar month during which such REO Property was at any time part of REMIC I, one month's interest at the applicable Net Mortgage Rate on the Stated Principal Balance of such REO Property (or, in the case of the first such calendar month, of the related Mortgage Loan, if appropriate) as of the close of business on the Distribution Date in such calendar month.

  • Purchased Interest means, at any time, the undivided percentage ownership interest in: (a) each and every Pool Receivable now existing or hereafter arising, (b) all Related Security with respect to such Pool Receivables and (c) all Collections with respect to, and other proceeds of, such Pool Receivables and Related Security. Such undivided percentage interest shall be computed as:

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Allowed Interest means an Interest in any Debtor, which has been or hereafter is listed by such Debtor in its books and records as liquidated in an amount and not disputed or contingent; provided, however, that to the extent an Interest is a Disputed Interest, the determination of whether such Interest shall be allowed and/or the amount of any such Interest shall be determined, resolved, or adjudicated, as the case may be, in the manner in which such Interest would have been determined, resolved, or adjudicated if the Chapter 11 Cases had not been commenced; and provided further, however, that proofs of Interest need not and should not be filed in the Bankruptcy Court with respect to any Interests; and provided further, however, that the Reorganized Debtors, in their discretion, may bring an objection or motion with respect to a Disputed Interest before the Bankruptcy Court for resolution.

  • Class C Additional Interest is defined in Section 4.1(c).

  • Class B Additional Interest shall have the meaning specified in subsection 4.02(b).

  • Transferred Interests has the meaning set forth in the Recitals.

  • Compound Interest shall have the meaning set forth in Section 4.1.

  • Carried Interest means an equity interest in the Partnership issued to a Person without consideration, in the form of cash or tangible property, in an amount proportionately equivalent to that received from the Participants.

  • Class A Additional Interest shall have the meaning specified in subsection 4.02(a).