Examples of Event of Review in a sentence
Provided that no Event of Default or Event of Review has occurred (in which case interest shall be added to the deposit) any such interest shall be paid to the relevant Borrower or as it may direct (subject to clause 16.
If an "Event of Default" or "Event of Review'' (however defined) occurs under any debt facility agreement, for which the indebtedness owned ranks in priority to the debt owed under the Investor Loan Facility, the Board shall be entitled to resolve, by a simple majority, to raise equity (on a pro-rata basis) amongst existing Shareholders and Classes of shares already on issue, and/or to incur further debt on behalf of the Company.
The Supervisor on 2 November 2020 has declared an Event of Review and an Event of Default which means that a nominee of the Supervisor will be able to attend meetings of the Committee of Management of NZECU and can request information about what will be done to rectify the situation.
If an "Event of Default" or "Event of Review" (however defined) occurs under any debt facility agreement, for which the indebtedness owed ranks in priority to the debt owed under the Investor Loan Facility, the Board shall be entitled to resolve, by a supermajority of the Board, being 80% of the votes to be cast by the Board, to raise equity (on a pro rata basis) amongst existing Shareholders and Classes of shares already on issue, and/or to incur further debt on behalf of the Company.
The Credit Union’s financial statements have now been filed with the relevant regulatory authorities and the Supervisor has declared an Event of Review that arose under the Credit Union’s Trust Deed as a result of thebreach to be at an end.