Increase Event definition

Increase Event occurs when both (a) the Increase Approval has occurred and (b) Bank has confirmed to Borrower in writing that the Revolving Line will be increased.
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Increase Event. “Increase Event” means the occurrence of all of the following: (a) the Increase Approval has occurred, (b) Bank has confirmed to Borrower in writing that the Hardware Availability Amount will be increased to an aggregate principal amount equal to $75,000,000.00, and (c) Borrower has paid to Bank the Increase Fee.
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Increase Event means –(i) any new law, ruling or regulation is promulgated, given or adopted; or(ii) there are any changes to any present or future law, ruling or regulation; or(iii) there are any changes in the interpretation or administration of any law, ruling or regulations by any relevant authority or comparable agency charged with interpretation or administration thereof; or(iv) there is any material change in the market considerations which are relevant to , logistics, transportation and courier services sector, including –a. airline rates / surcharges increases or decreases; and/orb. the increase by any relevant governmental or regulatory authority (including the NBCRFLI or its successors-in-title) of statutory wages and/or other amounts payable to RAM’s Personnel; and/orc. insurance premium increases; and/ord. the implementation and/or increase in Toll Fees, which would or does –(v) subject either Party to any taxes, duties or other charges in respect of this Agreement or change the basis of taxation of either (except for changes in the rate of normal taxation on the overall net income of either Party);(vi) impose on either Party any other obligation or condition which requires either Party to incur a material additional cost in respect of the Services 1.4.2“Ordinary Hours of Work” 9 (nine) Hours per day for all Business Days 1.4.3 “Overtime”all hours of work in excess of the Ordinary Hours of Work, including Non-Business Days 1.4.4 “Overtime Cost”the actual cost paid by RAM to the relevant Personnel involved in providing the Services for such Personnel/s services for any hours worked Overtime actually providing the Services in terms of this Agreement 1.4.5 “Prime Rate”the publicly quoted basic rate of interest (expressed as a nominal annual rate compounded monthly in arrears) calculated on a 365 (Three Hundred and Sixty Five) day year whether or not the year is a leap year, charged by First National Bank of South Africa Limited in respect of overdraft advances as evidenced by a certificate signed by any manager of the said bank whose authority and appointment it shall not be necessary to prove 1.4.6 “Surcharges”the various surcharges payable in respect of the Services, which include - General SurchargesKYC Surcharge Waybill Surcharge Extraordinary Service SurchargesAfter Hours Collection Surcharge After Hours Delivery Surcharge Armoured Vehicle Surcharge Drive Away SurchargeFirearm SurchargeIncorrect Delivery Instruction Surcharge Saturday SurchargeP108 Surchar...
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Examples of Increase Event in a sentence

  • The limitations set forth in this Section 5.2.7 shall be proportionally adjusted upon the occurrence of a Plan Increase Event as described in Section 4.2 herein.

  • The Company shall not Transfer the Incentive Distribution Rights to any party unless the Company agrees to proportionately adjust the amount of Special Member’s Percentage Interest to be issued under Section 3.04(b) upon a Special Member’s Percentage Increase Event.

  • Put/Call Options:[Put Option/ Call Option (Condition 6(c)(i))/ Clean-Up Call Option (Condition6(c)(iv))/ Redemption at the Option of the Issuer in the event of a Rate of Interest Increase Event/ Make- Whole Redemption [(further particulars specified below)] / Not Applicable]12.

  • The Issuer further has the option to redeem the Bonds (either in whole or in part) upon the first occurrence of a Rate of Interest Increase Event as provided in Condition 5(c)(iii).

  • If an Increase Event occurs, and for so long as such Increase Event continues, the holders of shares of Series A Preferred Stock, voting together as a separate class by a majority of the then-outstanding shares of Series A Preferred Stock as of any applicable record date, shall have the exclusive right to elect one director (the “Additional Director”) to the Board in addition to the number of Preferred Directors that would otherwise constitute the Board Representation Entitlement.

  • Any sum due to the Bank and not paid when due and any sum due to the Bank upon the occurrence or during the continuance of any Rate Increase Event hereunder shall bear interest at the Rate Increase Event Rate.

  • The term of such Additional Director shall expire automatically upon such Increase Event no longer continuing.

  • Borrower shall provide Lender with reasonable access to all information reasonably needed by Lender to verify that a Monthly Disbursement Limit Increase Event has occurred and the amount of the Monthly Disbursement Limit Increase Event Payment related to such Monthly Disbursement Limit Increase Event, and the Lender shall not be required to disburse any funds pursuant hereto until the Lender has verified to its reasonable satisfaction such facts and amount.

  • No delay or omission of the Bank to exercise any right or power accruing upon any Rate Increase Event shall exhaust or impair any such right or power or shall be construed to be a waiver of any such event, or acquiescence therein; and every power and remedy given by this Agreement may be exercised from time to time and as often as may be deemed expedient.

  • Interest not paid when due shall compound on each Interest Payment Date at the rate of interest then borne by the 2016 Senior Loan (which, it is acknowledged, upon the occurrence of a Rate Increase Event, shall be the Rate Increase Event Rate).


More Definitions of Increase Event

Increase Event means the date on which (a) Borrower has executed assignment consent agreements with Account Debtors of Capital Growth Systems, Inc., Global Capacity Group, Inc. and Global Capacity Direct, LLC (f/k/a Vanco Direct USA, LLC) (collectively, “Global Capacity”) collectively representing at least 75% in interest of the total Account Debtors of Global Capacity (following Borrower’s acquisition of Global Capacity’s Accounts) and (b) the closing by Borrower (and release from escrow, if applicable) of no less than $4,500,000 in additional equity or Subordinated Debt following the Effective Date; provided, however that no Increase Event shall be deemed to have occurred if either of the two events described in subsections (a) and (b) above occur later than February 28, 2010.
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Increase Event shall have the meaning set forth in Section 2(m) hereof.
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Increase Event means the satisfaction of any one of the following conditions:
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Increase Event. An Increase Event will occur when the average number of Transaction Events (that is the sum of all Transaction Events for the previous 3 calendar months divided by the number of days in that period) exceeds the Base Transaction Volume by the specified percentages (other than increases in the range of [**]%). The Increase Event will be deemed to have occurred on the last day of the relevant period of 3 calendar months. “Base Transaction Volume” The Base Transaction Volume will be calculated as the average number of transactions in the three calendar months following the date on which the last milestone payment becomes due (that is, at the end of the Operational Proving Phase). The average number of transactions shall be calculated as the sum of Transaction Events in the period divided by the number of days in the period.
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Related to Increase Event

  • Increase Effective Date has the meaning specified in Section 2.14(d).

  • Commitment Increase Effective Date has the meaning set forth in Section 2.02(b).

  • Leverage Increase Period has the meaning specified in Section 7.11(a).

  • Increase Date has the meaning specified in Section 2.18(a).

  • Increase Amount is defined in Section 2.3(a).

  • Commitment Increase Notice as defined in Section 2.1(b).

  • Increase Notice has the meaning specified in Section 2.05(c)(ii).

  • Reduction Event means any of the following:

  • Commitment Increase Date has the meaning assigned to such term in Section 2.08(e).

  • Replacement Revolving Facility Effective Date shall have the meaning assigned to such term in Section 2.21(l).

  • Increase Lender has the meaning given to that term in Clause 2.2 (Increase).

  • Facility Increase Request means the notice in the form of Exhibit H pursuant to which the Borrowers request an increase of the Maximum Commitment in accordance with Section 3.6.

  • Commitment Increase Supplement as defined in subsection 2.20(c).

  • Available Increase Amount means, as of any date of determination, an amount equal to the result of (a) $50,000,000, minus (b) the aggregate principal amount of Increases to the Revolver Commitments previously made pursuant to Section 2.14 of this Agreement.

  • Mandatory Purchase Event means, (i) in connection with the termination of the VRDP Shares Purchase Agreement due to its expiration as of a Scheduled Termination Date, by the fifteenth day prior to any such Scheduled Termination Date, (a) the Liquidity Provider shall not have agreed to an extension or further extension of the Scheduled Termination Date to a date not earlier than 364 days from the Scheduled Termination Date of the VRDP Shares Purchase Agreement then in effect, and (b) the Corporation shall not have obtained and delivered to the Tender and Paying Agent an Alternate VRDP Shares Purchase Agreement with a termination date not earlier than 364 days from the Scheduled Termination Date of the VRDP Shares Purchase Agreement, or (ii) in connection with the termination of the VRDP Shares Purchase Agreement due to a Liquidity Provider Ratings Event or Related Party Termination Event, by the fifteenth day prior to the Liquidity Provider Ratings Event Termination Date or Related Party Termination Date, as the case may be, the Corporation shall not have obtained and delivered to the Tender and Paying Agent an Alternate VRDP Shares Purchase Agreement with a termination date not earlier than 364 days from the Liquidity Provider Ratings Event Termination Date or Related Party Termination Date, as the case may be, of the VRDP Shares Purchase Agreement. The Mandatory Purchase Event shall be deemed to occur on such fifteenth day prior to any Scheduled Termination Date, Liquidity Provider Ratings Event Termination Date or Related Party Termination Date, as the case may be.

  • Step Up Event means a failure to meet the Minimum Rating Requirement at any time, unless:

  • Purchase Event means any of the following events:

  • Subordination Increase Amount As to any Distribution Date, the lesser of (i) the Subordination Deficiency and (ii) the Excess Interest.

  • Load Reduction Event means a reduction in demand by a Member or Special Member for the purpose of participating in the PJM Interchange Energy Market.

  • Release Event has the meaning set forth in Section 6(b).

  • Incremental Revolving Increase has the meaning set forth in Section 2.16(a).

  • Reduction Date has the meaning set forth in Section 20.1B.

  • Commitment Increase has the meaning specified in Section 2.18(a).

  • Activation Date means the date on which the Service and User Account (hereinafter defined) are activated for the Customer by TM as more particularly described in Clause 3.2 hereunder.

  • Downgrade Event means, unless otherwise specified on the Cover Sheet, for a Party means that Party’s Credit Rating falls below BBB- from S&P or Baa3 from Moody’s or becomes no longer rated by either S&P or Moody’s.

  • Revolving Facility Termination Date means the earlier of (i) August 9, 2018, or (ii) the date that the Commitments have been terminated pursuant to Section 8.02.