Initial Drop Down definition

Initial Drop Down means (a) the contribution of all of the Equity Interests of the Initial Drop Down Entities by the Sponsor and its Affiliates to MMP pursuant to the Initial Drop Down Documents in exchange for (i) common units of MMP, (ii) subordinated units of MMP and (iii) incentive distribution rights, (b) the repayment in full and termination of the Revolving Line (as defined in the Existing Credit Agreement) and the Term Loans (as defined in the Existing Credit Agreement), (c) the distribution of all of the Equity Interests of Logistics by Midstream to MMP and (d) the other transactions to occur contemporaneously therewith on the Closing Date pursuant to the Initial Drop Down Documents.
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Initial Drop Down means the series of asset exchanges with ACT or its Affiliates and the Partnership, pursuant to the Asset Exchange Agreement, dated as of December 17, 2018, by and between Circle K Stores Inc., a Texas corporation, and the Partnership, to the extent (i) consummated on or prior to the date that is three (3) months prior to the Maturity Date and (ii) consummated pursuant to the terms of such Asset Exchange Agreement, without any changes adverse in any material respect to the Lenders.
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Initial Drop Down means (a) the contribution of all of the Equity Interests of the Initial Drop Down Entities by the Sponsor and its Affiliates to MMP pursuant to the Initial Drop Down Documents in exchange for (i) common units of MMP, (ii) subordinated units of MMP and
Sample 1

Examples of Initial Drop Down in a sentence

  • The Agent shall have received copies of the Initial Drop Down Documents, certified as of the Closing Date by an authorized officer of MMP (x) as being true and correct copies of such documents, (y) as being in full force and effect and (z) that no material term or condition thereof shall have been amended, modified or waived after the execution thereof without the prior written consent of the Agent.

  • The Agent shall have received evidence, in form and substance satisfactory to the Agent, of (i) the consummation of the IPO in accordance with the Prospectus, (ii) receipt by MMP of at least $90,000,000 in gross proceeds from the sale of Equity Interests of MMP under the IPO, and (iii) the consummation of the Initial Drop Down in accordance with the Initial Drop Down Documents.

Related to Initial Drop Down

  • CDBG-DR means Community Development Block Grant Disaster Recovery.

  • Initial Date means the date of the closing of the Initial Offering of the Company.

  • Initial Distribution Date means the date occurring as soon as reasonably practicable after the Effective Date when distributions under the Plan shall commence.

  • Initial Distribution means the distribution made to holders of Allowed Class C-4 Claims on the Distribution Date.

  • Increased Facility Closing Date any Business Day designated as such in an Increased Facility Activation Notice.

  • Initial Closing Date shall have the meaning assigned to such term in Section 1.2 hereof.

  • Investment End Date : means 11 November 2022, or if such day is not a Scheduled Trading Day, the following day which is a Scheduled Trading Day.

  • Ramp Period The Ramp Period begins on the Effective Date and ends after three (3) full months. At all times during the Ramp period, Customer will receive the rates, discounts, charges and credits in the agreement and will not be subject to an AVC. Annual Volume Commitment (“AVC”): Customer agrees to pay Company no less than $2,836,000 in Total Service Charges in each twelve-month period during the Initial Term (“Contract Year”), which is the Annual Volume Commitment (“AVC”).

  • Commissioning Date means that date when construction of the contemplated Project is complete, and the Maintenance Term commences;

  • Closing Date Business Plan means the set of Projections of Borrowers for the 3 year period following the Closing Date (on a year by year basis, and for the 1 year period following the Closing Date, on a month by month basis), in form and substance (including as to scope and underlying assumptions) satisfactory to Agent.

  • Wind-Down Budget means a budget to be prepared by the Debtors, and reasonably acceptable to the Deerfield Requisite Supporting Noteholders, the Unaffiliated Requisite Supporting Noteholders, and the Committee, which shall be filed with the Court as part of the Plan Supplement, and which may be amended from time to time after entry of the Confirmation Order, subject to the consent of the Oversight Committee, which consent shall not be unreasonably withheld, and which shall estimate the funds necessary to administer the Plan and wind down the Debtors’ affairs, including the costs of holding and liquidating the Estates’ remaining property, objecting to Claims, making the Distributions required by the Plan, prosecuting claims and Causes of Action that may be held by the Estates against third parties that are not released, waived or transferred pursuant to the Plan (including pursuant to Article X) or otherwise, paying Taxes, filing Tax returns, paying professionals’ fees and expenses, paying the fees and expenses of the Oversight Committee, funding payroll and other employee costs, providing for the purchase of errors and omissions insurance and/or other forms of indemnification for the Plan Administrator, and for all such items and other costs of administering the Plan, the Estates and the Liquidating Debtors (other than the Administrative and Priority Claims Reserve, the Disputed Claims Reserve, and the Professional Fee Reserve).

  • Opening Date means the day on which we first authorize the opening of the facilities, Guest Rooms or services of the Hotel to the general public under the Brand.

  • Investment Start Date : means 19 November 2021 or if such day is not a Scheduled Trading Day, the following day which is a Scheduled Trading Day.

  • First Closing Date shall refer to the time and date of delivery of certificates for the Firm Shares and such Optional Shares). Any such time and date of delivery, if subsequent to the First Closing Date, is called an “Option Closing Date,” shall be determined by the Representatives and shall not be earlier than three or later than five full business days after delivery of such notice of exercise. If any Optional Shares are to be purchased, each Underwriter agrees, severally and not jointly, to purchase the number of Optional Shares (subject to such adjustments to eliminate fractional shares as the Representatives may determine) that bears the same proportion to the total number of Optional Shares to be purchased as the number of Firm Shares set forth on Schedule A opposite the name of such Underwriter bears to the total number of Firm Shares. The Representatives may cancel the option at any time prior to its expiration by giving written notice of such cancellation to the Company.

  • Incremental Facility Closing Date has the meaning set forth in Section 2.14(d).

  • Subsequent Sale means the sale of additional Securitization Property by the Seller to the Issuer after the Initial Transfer Date, subject to the satisfaction of the conditions specified in the Sale Agreement and the Indenture.

  • COMMENCEMENT OF THE INITIAL PUBLIC OFFERING means the date that the Securities and Exchange Commission declares effective the registration statement filed under the Securities Act for the Initial Public Offering.

  • Additional Closing Date has the meaning set forth in Section 3.

  • Private Placement Lock-up Period means, with respect to Private Placement Warrants that are held by the initial purchasers of such Private Placement Warrants or their Permitted Transferees, and any of the Ordinary Shares issued or issuable upon the exercise or conversion of the Private Placement Warrants and that are held by the initial purchasers of the Private Placement Warrants or their Permitted Transferees, the period ending 30 days after the completion of the Company’s initial Business Combination.

  • IPO means the Company’s first underwritten public offering of its Common Stock under the Securities Act.

  • Anticipated Closing Date means the anticipated closing date of any proposed Qualified Sale Transaction, as determined in good faith by the Board of Directors on the Applicable Date.

  • Subsequent Closing Date means, with respect to each Subsequent Closing, the date on which such Subsequent Closing is deemed to have occurred.

  • Initial Offering Period means the period commencing with the initial effective date of the Prospectus and terminating no later than the ninetieth (90th) day following such date unless extended for up to an additional 90 days at the sole discretion of the General Partner.

  • Reinvestment Agreement means a guaranteed reinvestment agreement from a bank, insurance company or other corporation or entity, in each case, at the date of such acquisition having a credit rating of at least A-1 from S&P and at least P-1 from Moody’s; provided that such agreement provides that it is terminable by the purchaser, without penalty, if the rating assigned to such agreement by either S&P or Xxxxx’x is at any time lower than such ratings.

  • Amendment Closing Date means the first date that all the conditions precedent set forth in this Amendment are satisfied or waived in accordance herewith.

  • Distribution Commencement Date means the Issue Date or such other date as may be specified as the Distribution Commencement Date on the face of such Perpetual Security;