Grant Event definition

Grant Event means the occurrence of any of the following:

Grant Event means any occurrence described in Section 8.3 of the Merger Agreement.

Grant Event means the occurrence of any of the following: (a) the formation or acquisition of any new wholly owned Material Domestic Subsidiary by any Loan Party, (b) the designation in accordance with Section 6.13 of any existing wholly owned Material Domestic Subsidiary of any Loan Party as a Restricted Subsidiary, (c) any Person becoming a wholly owned Material Domestic Subsidiary that is a Restricted Subsidiary of a Loan Party, in each case under clauses (a) – (c) other than an Excluded Subsidiary, or (d) any Restricted Subsidiary of a Loan Party ceasing to be an Excluded Subsidiary.

Examples of Grant Event in a sentence

• Effective on the date of any Grant Event, Parent shall have, and the Company hereby grants to Parent, the right and option to purchase (the "Option") from the Company, at a price of $15.00 per share of Common Stock (the "Exercise Price"), a number of shares of Common Stock equal to 19.9% of the aggregate number of shares of Common Stock outstanding after giving effect to the exercise of the Option (the "Option Shares").

• This Agreement, and all rights and obligations of the parties hereunder, shall terminate upon the first to occur of (a) the consummation of the Merger, (b) December 18, 1998, or (c) the date of termination of the Merger Agreement by any of the parties thereto other than pursuant to a Grant Event.

• Notwithstanding anything to the contrary in Section 2.1(b)(i) above, upon the occurrence of the Grant Event, the amount of Tranche A Term Loans that Borrower may request and Bank Heat Biologics, Inc.

More Definitions of Grant Event

Grant Event means Borrower’s receipt, after the Closing Date but on or before the Tranche A Term Loan Availability End Date, or a grant, with funds to be provided to Borrower in a series of disbursements but with an aggregate value of at least $16,000,000, for the purpose of funding product development.

Grant Event means the occurrence of any of the following: (a) the formation or acquisition by a Loan Party of a new wholly-owned Subsidiary (other than an Excluded Subsidiary); (b) the designation in accordance with Section 6.13 of a wholly-owned Subsidiary (other than an Excluded Subsidiary) of any Loan Party as a Restricted Subsidiary; (c) any Person becoming a wholly-owned Subsidiary (other than an Excluded Subsidiary); or (d) any wholly-owned Restricted Subsidiary of a Loan Party ceasing to be an Excluded Subsidiary. “Granting Lender” has the meaning specified in Section 11.07(g). “Guarantee” means, as to any Person, without duplication, (a) any obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other monetary obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other monetary obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect of such Indebtedness or other monetary obligation of the payment or performance of such Indebtedness or other monetary obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other monetary obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other monetary obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any assets of such Person securing any Indebtedness or other monetary obligation of any other Person, whether or not such Indebtedness or other monetary obligation is assumed by such Person (or any right, contingent or otherwise, of any holder of such Indebtedness to obtain any such Lien); provided that the term “Guarantee” shall not include endorsements for collection or deposit, in either case in the ordinary course of business, or customary and reasonable indemnity obligations in effect on the Closing Date or entered into in connection with any acquisition or disposition of assets permitted under this Agr...