Key Person Event definition

Key Person Event shall have the meaning set forth in Section 5.6.

Key Person Event means a “Key Person Event” as defined in the Operating Agreement.

Key Person Event means at any time during the Commitment Period (i) [ ]4 ceases to devote time and attention for any reason, including death, disability or retirement, as required under Section 9.2 (Time and Attention) to the Fund[, the Prior Funds] and any Successor Fund permitted in accordance with this Agreement; or (ii) there is a Change of Control.

Examples of Key Person Event in a sentence

• Borrower shall promptly notify Administrative Agent in writing upon becoming actually aware of the occurrence of a Key Person Event.

• Upon the occurrence of a Key Person Event, the Adviser will promptly give notice to the Members of this fact, at which time the Investment Period will immediately be suspended for 90 days (such 90-day period or shorter period pursuant to this paragraph, the “Key Person Suspension Period”).

• Notwithstanding the foregoing, the Key Person Suspension Period and/or the termination of the Investment Period will not be effective in respect of any transactions for which there is an executed letter of intent (whether or not binding) or other written commitment prior to the occurrence of such Key Person Event.

• If such replacement(s) end the occurrence of a Key Person Event, the Commitment Period will automatically be re-instated.

• Each of the General Partner and the Subadvisors, as applicable, shall promptly notify UST and SIGTARP of the occurrence of any event of Cause of which it has knowledge and the General Partner shall promptly notify UST and SIGTARP of the occurrence of any Key Person Event of which it has knowledge.

More Definitions of Key Person Event

Key Person Event. As defined in Schedule A.

Key Person Event shall have the meaning set forth in the Partnership Agreement. “Lender” shall have the meaning set forth in the preamble.

Key Person Event means that (a) the Key Person (i) ceases to hold the office of chief executive officer (or equivalent) of Parent or fails to be directly and actively involved in the day to day management and direction of Parent and its Subsidiaries and a successor reasonably acceptable to the Lenders shall not have been appointed within 90 days of such cessation, or (ii) becomes or is an employee, manager or officer of any entity other than Parent and its Subsidiaries and (b) Xxx Xxxxx is no longer serving as the Chairman of the Board of Parent.

Key Person Event shall have the meaning given to such term in the Subscription Agreement.

Key Person Event means the termination or resignation of (i) Xxxx Xxxxxxxxx; or (ii) any of the other employees or Persons identified on Schedule 6 that are not replaced with Persons acceptable to Administrative Agent within 90 days from the date of termination or resignation.

Key Person Event means the occurrence, after the Amendment Effective Date, of each of the following events: (i) the termination or resignation of each of the officers holding the positions of Chief Executive Officer and Chief Operating Officer as of the Amendment Effective Date, (ii) the failure by Holdings to replace each such officer with a replacement officer acceptable to the Requisite Lenders in their Permitted Discretion within ninety (90) days after the second such termination or resignation, and (iii) the delivery by the Administrative Agent of written notice to Company after such ninety (90) day period notifying Company that a “Key Person Event” has occurred.

Key Person Event has the meaning specified in Section 6.3 of the Fund LLC Agreement.