Initial Standstill Period definition
Examples of Initial Standstill Period in a sentence
After the expiration of the Initial Standstill Period, the Initial Controlling Other Pari Passu Agent is under no obligation to consult with any Agent on behalf of any Other Pari Passu Lien Obligations or Revolving Credit Obligations (Capped) in connection with an Enforcement Action with respect to the Shared Collateral.
For the avoidance of doubt, such penalties shall not be applicable during the Preliminary Standstill Period, the Initial Standstill Period or the Standstill Period, until any of such periods is terminated pursuant to the provisions of Section 8 hereof.
UBS-LB further agrees that from the date on which the provisions of this letter agreement become effective in accordance with Section 6 hereof through January 4, 1999 (such period, the "Initial Standstill Period"), subject to the other terms and conditions set forth below, UBS-LB will not require any settlement under the Forward Agreement and will not sell, assign or otherwise transfer any interest in any of the Underlying Shares or shares delivered as collateral under the Forward Agreement.
After the Initial Standstill Period, the Chairman (or his or her nominee) of the Workout Committee for a Debtor Company must chair meetings of Financial Institution Creditors of that Debtor Company.
During the Initial Standstill Period, Stryker shall keep Knight reasonably informed of the process, the prospects of realization of value from Collateral and the status of any potential offers to purchase the Collateral.
Any determination as to whether the Companies are entitled to an extension of the Initial Standstill Period as contemplated by this Section 7 shall be made by UBS-LB, which determination shall not be unreasonable.
It could be argued that LoopNet had an interest in such pictures, as the pictures themselves could act as a draw for customers.
From and after the end of the Initial Standstill Period, any Investor may Transfer beneficial or record ownership of any Voting Securities, subject to compliance with Section 2.2(d) and clauses (b), (c) or (d) and (f) below.
Such obligation shall be subject to the terms and conditions of the Credit Agreement; provided, however, that in the event that such obligation is not complied with as a result of the terms and conditions of the Credit Agreement, then the Initial Standstill Period (or the Standstill Period, as the case may be) shall be terminated.
Until payment in full of all the Senior Obligations (unless Stryker has purchased the Senior Obligations pursuant to Section 4.03 below), and except in connection with actions during the Initial Standstill Period, Stryker will refrain from making demand of the Debtor or Mariel for payment of the Subordinated Obligations or exercising any rights for the enforcement of payment of the Subordinated Obligations against the Debtor or Mariel, without the prior written consent of Knight.