Lender Shares definition

Lender Shares means a percentage of the New Equity (representing up to 78.5% of the total share capital of the Company following the Restructuring Effective Date and the issuance of the New Equity in accordance with the Restructuring Heads of Terms) which shall be allocated between each of the Lenders on the Restructuring Effective Date in accordance with the Lenders Final Agreed Entitlement Schedules, such equity allocation subject to adjustment in light of the Existing Shareholders Entitlements Charterparty Elections, Bareboat Elections, Undertaking Bareboat Elections and Undertaking Time-Charter Elections and any New Equity otherwise not allocated to any Party or any Non Consenting Bareboat Owner or Non Consenting Charterparty Owner.

Lender Shares means (i) all shares of Common Stock issued pursuant to the exercise of any Lender Warrant or other Option originally granted or issued to, or issued with respect to shares or options originally issued to, or held by, a Lender, whenever issued.

Lender Shares means 96.0% of the Primary Effective Date Shares of New MPAN Common Stock, which shall be distributed on the Effective Date to the Senior Credit Facility Claim Holders as provided in this Plan.

Examples of Lender Shares in a sentence

• The remaining Lender Shares, which are not otherwise sold in such one-time sale (e.g., 75% of the Lender Shares if 25% of the Equity Shares are sold in the one-time sale), may only be sold if (i) the selling price per share is at least 110% of the IPO price per share, and (ii) if such sale combined with all other sales by such Lender during a thirty (30) day period, represents no more than 10% of the most recent 25-day average trading volume related to Borrower’s shares purchased and sold on the market.

• For the sake of clarification, the Lender Shares may be voted in all cases where the vote, inclusive of non-Lender shares is unanimous, and where such approval is required to proceed with any IPO.

• Lender shall have the right following “Lock-Up,” to a one-time sale of up to 25% of the Lender Shares.

• The MPAN Senior Credit Facility Claim Holders shall receive in the aggregate and in full satisfaction of the MPAN Senior Credit Facility Claims on the Effective Date: (a) the MPAN Lender Percentage of the Available Cash; (b) the MPAN Lender Percentage of the Lender Notes, if any such Lender Notes are issued pursuant to Section V.B.4 of this Plan; (c) the MPAN Lender Percentage of the Lender Shares; and (d) a release as provided in Section V.L.1 of this Plan.

• The Company also granted the New Administrative Agent put rights with respect to the Lender Shares, pursuant to which the New Administrative Agent has the right, commencing on April 14, 2014, to require the Company to purchase a portion of the Lender Shares from the New Administrative Agent from time to time, at a purchase price equal to 90% of the then-current fair market value.

More Definitions of Lender Shares

Lender Shares means the shares or preferred shares of the stock or other securities of Borrower that Lender has the right to purchase and may purchase under the terms of the Participation Rights Agreement and the Warrant.

Lender Shares means the Collateral Shares in the hands of the Lender following foreclosure, the Initial Consideration Shares and the Contingent Issuance Shares.

Lender Shares means the shares of Common Stock issued or issuable upon exercise of the Lender Warrants.

Lender Shares means 11,700,000 shares of Common Stock owned by the Lender.

Lender Shares means the Shares issuable to the Lender and outstanding pursuant to the Conversion.

Lender Shares means, collectively, the Closing Date Lender Shares and the Additional Lender Shares.

Lender Shares means the 1,500,000 shares of Common Stock issued to Bluefin Capital, LLC pursuant to Section 2.03(d) of the Loan Agreement, and any additional or other shares of Common Stock issued in respect of such Shares by reason of any stock split, stock dividend, merger, share exchange, recapitalization or other such event.