Labor Controversy definition

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Examples of Labor Controversy in a sentence

Notwithstanding the foregoing, in the event of any League-wide Labor Controversy that continues for a minimum of five consecutive weeks, the then-applicable maximum Total Leverage Ratio shall, at the option of the Company, step up by 0.50:1.00 (the “Labor Controversy Step Up”).
Notwithstanding Sections 7.28 and 7.29 above and so long as the Company is in compliance with Section 7.31, (a) in the event of any League-wide Labor Controversy that continues for a minimum of five consecutive weeks, the Total Leverage Ratio shall, at the option of the Company, step up to 6.50:1.00 and the Total Secured Leverage Ratio shall, at the option of the Company, step up to 4.00:1.00 (the “Labor Controversy Step Up”).
Notwithstanding Sections 7.27 and 7.28 above and so long as the Company is in compliance with Section 7.30, (a) in the event of any League-wide Labor Controversy that continues for a minimum of five consecutive weeks, the Total Leverage Ratio shall, at the option of the Company, step up to 6.50:1.00 and the Total Secured Leverage Ratio shall, at the option of the Company, step up to 4.00:1.00 (the “Labor Controversy Step Up”).

More Definitions of Labor Controversy

Labor Controversy means any strike, lock-out or other labor controversy, including (i) any work stoppage or other actions or proceedings involving any teams or unions representing any employees or agents of the Company or any of its Subsidiaries, MSG or any of its Subsidiaries or any teams or (ii) any individual disputes with employees or agents (including players, coaches or scouts) of the Company or any of its Subsidiaries, MSG or any of its Subsidiaries or any teams, whether (1) in negotiating extensions or renewals of contracts or (2) related to any such employee or agent seeking an improvement in such individual’s arrangements with the Company or any of its Subsidiaries, MSG or any of its Subsidiaries or any team in advance of scheduled contract extensions or renewals. “Labor Controversy Step Up” has the meaning specified in Section 7.28. “Labor Dispute” means any strike, lockout, work stoppage, or other similar action involving any labor organization representing any employees of the Company or any of its Restricted Subsidiaries. For the avoidance of doubt, “Labor Dispute” does not include any individual disputes with employees or agents (including players, coaches or scouts) of the Company or any of its Restricted Subsidiaries. “Laws” means, collectively, all international, foreign, Federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directives, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of law. “L/C Advance” means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Revolving Credit Percentage. “L/C Borrowing” means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Borrowing. “L/C Credit Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof. “L/C Issuer” means JPMorgan and Bank of America, N.A. (each, an “Initial L/C Issuer”), any Eligible Assignee to which a portion of the Letter of Credit Commitment un...