Further Backstop Election definition

Further Backstop Election means, in relation to a Backstop Party, an election (as set out in Part 1 (Backstop Parties) of Schedule 5 (Backstop Parties and Undertakings) in the case of an Initial Backstop Party and in its Accession Deed in the case of an Additional Backstop Party) to assume the Backstop Commitments that a Backstop Party is released from upon completion by it of a Permitted Transfer: (i) to a person that is neither its Affiliate nor another Backstop Party; and (ii) which results in the principal amount of its Senior Claims being less than the principal amount of its Backstop Claims.
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Examples of Further Backstop Election in a sentence

  • The Backstop Commitments of such transferring Backstop Party shall instead be assumed by the Backstop Parties that have exercised their Further Backstop Election in accordance with paragraph 2 of Part 2 (Backstop Undertakings) of Schedule 4 (Backstop Parties and Undertakings).

  • Backstop Parties should also notify the Information Agent if they are exercising their Further Backstop Election by the Backstop Deadline.

Related to Further Backstop Election

  • LCA Election has the meaning specified in Section 1.09(a).

  • 10) Election has the meaning set forth in Section 6.05(a).

  • Primary election means any regular primary election held under the election

  • Election Agreement means an agreement in the form that the Company may designate from time to time that is consistent with the terms of the Plan.

  • Local election means a regular county election, a regular municipal election, a

  • Section 336(e) Election has the meaning set forth in Section 7.06.

  • Exchange Election shall have the meaning specified in Section 14.12(a).

  • Special election means an election held as authorized by Section 20A-1-203.

  • Regular election means an election held on a regular election date to elect an individual to, or nominate an individual for, elective office in the regular course of the terms of that elective office.

  • Regular primary election means the election on the fourth Tuesday of June of

  • Qualified Election means a Participant's waiver of a Qualified Joint and Survivor Annuity or a Qualified Pre-Retirement Survivor Annuity. Any such waiver must be consented to in writing by the Participant's Spouse. The Spouse's consent must: designate a specific Beneficiary (including any class of Beneficiaries or any contingent Beneficiaries, which may not be changed without spousal consent) or expressly permits designations by the Participant without any further spousal consent; acknowledge the effect of the election; and be witnessed by a member of the Committee or a Notary Public. Additionally, a Participant's waiver of the Qualified Joint and Survivor Annuity shall not be effective unless the election designates a form of benefit payment which may not be changed without spousal consent (or the Spouse expressly permits designations by the Participant without any further spousal consent). Notwithstanding this consent requirement, if the Participant establishes to the satisfaction of a member of the Committee that there is no Spouse or the Spouse cannot be located, a waiver will be deemed a Qualified Election. Any spousal consent (or deemed spousal consent) obtained under this provision will be valid only with respect to such Spouse. A consent that permits designations by the Participant without further consent by such Spouse must acknowledge that the Spouse has the right to limit consent to a specific Beneficiary and, where applicable, a specific form of benefit, and that the Spouse voluntarily elects to relinquish either or both of such rights. A revocation of a prior waiver may be made by a Participant without the consent of the Spouse at any time before the commencement of benefits. The number of revocations shall not be limited. No consent obtained under this provision shall be valid unless the Participant has received notice as provided in paragraph (b) below.

  • Election Form means the form established from time to time by the Committee that a Participant completes, signs and returns to the Committee to make an election under the Plan.

  • Enrollment Agreement means an agreement between the Company and an employee, in such form as may be established by the Company from time to time, pursuant to which the employee elects to participate in this Plan, or elects changes with respect to such participation as permitted under the Plan.

  • Mixed Election has the meaning set forth in Section 3.01(b)(iii).

  • Deferral Election means the Participant’s election under Section 3.1 to defer all or a portion of his or her Compensation.

  • Share Termination Alternative If applicable, Dealer shall deliver to Counterparty the Share Termination Delivery Property on, or within a commercially reasonable period of time after, the date when the relevant Payment Obligation would otherwise be due pursuant to Section 12.7 or 12.9 of the Equity Definitions or Section 6(d)(ii) and 6(e) of the Agreement, as applicable, in satisfaction of such Payment Obligation in the manner reasonably requested by Counterparty free of payment. Share Termination Delivery Property: A number of Share Termination Delivery Units, as calculated by the Calculation Agent, equal to the Payment Obligation divided by the Share Termination Unit Price. The Calculation Agent shall adjust the Share Termination Delivery Property by replacing any fractional portion of a security therein with an amount of cash equal to the value of such fractional security based on the values used to calculate the Share Termination Unit Price.

  • Distribution Election With respect to any Series, as specified in the related Supplement.

  • General election means an election held in the Commonwealth on the Tuesday after the first

  • Investment Election means an election, made in such form as the Administrative Committee may direct, pursuant to which a Participant may elect the Investment Funds in which the amounts credited to his Account will be deemed to be invested.

  • Regular general election means the election held throughout the state on the first

  • Safe Harbor Election has the meaning set forth in Section 10.2(d).

  • Extension Election has the meaning set forth in Section 2.16(c).

  • Concurrent enrollment means the simultaneous enrollment of a qualified student in a district high school and in one or more postsecondary courses at an institution of higher education. Concurrent enrollment does not include a student’s simultaneous enrollment in: a district high school and in one or more secondary career and technical education courses, advanced placement courses, or international baccalaureate courses; an early college course and a postsecondary course; a p-tech school and a postsecondary course; or a district high school and a postsecondary course that does not fall within the definition of concurrent enrollment.

  • Election judge means a poll worker that is assigned to:

  • Cash Election shall have the meaning set forth in Section 3.2.2.

  • Election means an election by a constituency, or by a class within a constituency, to fill a vacancy among one or more posts on the council of governors;