Exchange Trigger Event definition

Exchange Trigger Event means (A) the recapitalization or reorganization of this corporation; (B) a registered, underwritten public offering of any capital stock of this corporation; (C) the sale or other disposition by Nextel Communications, Inc., a Delaware corporation ("Nextel Communications") or a wholly owned subsidiary of Nextel Communications, of shares of common stock of this corporation or (D) the issuance of shares of common stock by this corporation, such that following any event covered by clause (C) or (D) above, Nextel Communications owns less than fifty percent (50%) of this corporation's outstanding shares of common stock.

Exchange Trigger Event shall be deemed to have occurred on the first day after the Closing Date that the Administrative Agent shall have received Exchange Notices in accordance with Section 2.19(a) with respect to at least an aggregate of $50,000,000 principal amount of Loans.

Exchange Trigger Event shall be deemed to have occurred on each date that Administrative Agent shall have received requests from Lenders in accordance with Section 2.8 to exchange a principal amount of Rollover Loans (that are outstanding as Rollover Loans at such time) for Exchange Notes, which, for purposes of the first occurrence, shall be in an aggregate amount equal to or greater than £100,000,000 and for any other occurrence shall be in an aggregate amount equal to or greater than £25,000,000, or, if less than £25,000,000 aggregate principal amount of Rollover Loans remain outstanding, all outstanding remaining Rollover Loans.

Examples of Exchange Trigger Event in a sentence

• On or prior to the Exchange Date for the Mandatory Exchange, the Company shall deliver an Officer’s Certificate to the Trustee and the Exchange Agent (if other than the Trustee), stating that the Mandatory Exchange Trigger Event has occurred.

• The Mandatory Exchange Notice shall (i) state that the Mandatory Exchange Trigger Event has occurred, (ii) state the current Exchange Rate and the Settlement Method for the Mandatory Exchange as elected by the Company (and, in the case of an election of Combination Settlement, the Specified Dollar Amount per $1,000 principal amount of Notes) and (iii) include the Exchange Date for the Mandatory Exchange, which shall be the tenth Business Day following the date of such notice.

• Subject to the provisions of this Article 14, the Notes shall be automatically exchanged at the Exchange Rate following the occurrence of the Mandatory Exchange Trigger Event (the “Mandatory Exchange”).

• From and after the occurrence of an Exchange Trigger Event, the Preference Shares and Warrants may be exchanged, in whole or in part (provided that Preference Shares representing a minimum of $150 million in Liquidation Preference shall be required for the initial such exchange), for preference shares and warrants of Newco bearing identical rights and privileges, including the right to convert into, or be exercised for, common shares of Newco.

• Notwithstanding the foregoing, such Lender’s Senior Unsecured Term Loan shall only be exchanged for Senior Exchange Notes hereunder upon the occurrence of an Exchange Trigger Event, notice of which shall be provided to the Borrower and each such Lender that has delivered an Exchange Request that has given rise to such Exchange Trigger Event by the Agent.

More Definitions of Exchange Trigger Event

Exchange Trigger Event means on and after the Rollover Date, any receipt by the Administrative Agent of one or more Exchange Notices which, individually or together, represent at least (a) $25.0 million aggregate principal amount of Rollover Loans or (b) if less than $25.0 million aggregate principal amount of Rollover Loans are outstanding at such time, the remainder of the then outstanding Rollover Loans.

Exchange Trigger Event means any one or more of the following: (a) failure to obtain the Requisite Shareholder Approval (unless such failure was due to a breach by the Purchaser of a covenant hereunder) within five months of the Closing Date, (b) failure to obtain the Requisite Regulatory Approval (unless such failure was due to a breach by the Purchaser of a covenant hereunder) within six months of the Closing Date or (c) if the Adjustment Basket (as determined pursuant to paragraphs (a) through (g) of Section B.3) is less than zero and its absolute value at any time exceeds $250 million."

Exchange Trigger Event means on and after the Bridge Conversion Date, (a) with respect to the initial Exchange Trigger Event, the receipt by the Agent of one or more Exchange Requests which, individually or together, represent at least $500 million aggregate principal amount of Senior Unsecured Term Loans that have not been exchanged for Senior Exchange Notes and (b) thereafter (i) the receipt by the Agent of one or more Exchange Requests which, individually or together, represent at least $250 million aggregate principal amount of Senior Unsecured Term Loans that have not been exchanged for Senior Exchange Notes and (ii) if less than $250 million aggregate principal amount of Senior Unsecured Term Loans are outstanding at such time, the remainder of the then outstanding Senior Unsecured Term Loans.

Exchange Trigger Event means (A) the recapitalization or reorganization of the Corporation; (B) a registered, underwritten public offering of any capital stock of the Corporation; (C) the sale or other disposition by Nextel Communications, Inc., a Delaware corporation ("Nextel Communications") or a wholly owned subsidiary of Nextel Communications, of shares of common stock of the Corporation or (D) the issuance of shares of common stock by the Corporation, such that following any event covered by clause (C) or (D) above, Nextel Communications owns less than fifty percent (50%) of the Corporation's outstanding shares of common stock.

Exchange Trigger Event means any one or more of the following: (a) failure to obtain the Requisite Shareholder Approval (unless such failure was due to a breach by the Purchaser of a covenant hereunder) within five months of Closing Date, (b) failure to obtain the Requisite Regulatory Approval within six months of Closing Date or (c) if the Final Adjustment contemplated by Section B.3. of this Agreement is less than zero and its absolute value exceeds $250 million.

Exchange Trigger Event shall be deemed to have occurred on each date that the Administrative Agent shall have received requests in accordance with Section 2.20 to exchange at least an aggregate of $50.0 million principal amount of Loans (that are outstanding as Loans at such time) for Exchange Notes.

Exchange Trigger Event means (a) on and after the first anniversary of the Conversion Date, the first receipt by the Administrative Agent of one or more Exchange Notices representing at least 51% of the aggregate amount of all outstanding Term Loans held by Lenders not affiliated with the Borrower or its Affiliates, the Sponsors, Sponsor Affiliates or Sponsor Associates (such event, the “Initial Exchange Trigger Event”), and (b) at any time after the Initial Exchange Trigger Event, any receipt by the Administrative Agent of one or more Exchange Notices representing the lesser of (i) $10.0 million aggregate principal amount of Term Loans and (ii) the remainder of the then outstanding Term Loans.