HIGH TIDES definition
Examples of HIGH TIDES in a sentence
Except with respect to any changes which do not adversely affect the rights of the Holders in any material respect (in which case no consent of the Holders will be required), this Guarantee Agreement may only be amended with the prior approval of the Holders of not less than a Majority in liquidation amount of the HIGH TIDES.
All guarantees and agreements contained in this Guarantee Agreement shall bind the successors, assigns, receivers, trustees and representatives of the Guarantor and shall inure to the benefit of the Holders of the HIGH TIDES then outstanding.
Notwithstanding the foregoing, this Guarantee Agreement will continue to be effective or will be reinstated, as the case may be, if at any time any Holder must repay any sums paid with respect to HIGH TIDES or this Guarantee Agreement.
This Guarantee Agreement shall terminate and be of no further force and effect upon (i) full payment of the Redemption Price of all HIGH TIDES, (ii) the distribution of Debentures to the Holders in exchange for all of the HIGH TIDES, (iii) full payment of the amounts payable in accordance with the Declaration upon liquidation of the Trust or (iv) distribution of the Guarantor's common stock to the Holders in respect of the conversion of all of the HIGH TIDES.
The Holders of a Majority in liquidation amount of the HIGH TIDES may, by vote, on behalf of all the Holders, waive any past Event of Default and its consequences.
If the HIGH TIDES Redemption has not occurred by the Trigger Date, the Company shall, in accordance with the procedures set forth in Section 3.8 of the Indenture be required to redeem (a “Mandatory Redemption”) all of the outstanding Notes, for a price equal to 101% of their principal amount, plus accrued and unpaid interest thereon through the redemption date (the “Mandatory Redemption Price”).
This Guarantee Agreement is solely for the benefit of the Holders (subject to the benefits inuring to the holders of Senior Debt pursuant to the subordination provisions hereof) and is not separately transferable from the HIGH TIDES.
After giving effect to the transactions contemplated by this Agreement, no Obligor shall have outstanding any Indebtedness or preferred stock other than (i) the Loans and Letters of Credit hereunder, (ii) the Debentures and HIGH TIDES, (iii) the Indebtedness permitted under Section 8.2, and (iv) preferred stock issued by Cayenta Operating Company and by the Borrower.
The relative benefits received by the Company on the one hand and the Remarketing Agent on the other shall be deemed to be in the same proportion as the aggregate outstanding Liquidation Amount (if the Subject Securities are HIGH TIDES) or principal amount (if the Subject Securities are Debentures) bear to the fees received by the Remarketing Agent from the Company under this Agreement.
Any event occurs which, pursuant to the terms of the HIGH TIDES Documents, requires the Borrower to dissolve Titan Capital Trust and issue the Debentures directly to the holders of the HIGH TIDES or requires the Borrower or Titan Capital Trust to redeem, prepay or offer to purchase the Debentures or the HIGH TIDES (except as permitted by Section 8.7(d)(ii)).