Examples of Liquidity Impairment in a sentence
The Trustee may demand payment under this German Guaranty to the extent that the Auditors determine that the Capital Impairment or Liquidity Impairment has been cured.
The Administrative Agent may demand payment under this German Guaranty to the extent that the Auditors determine that the Capital Impairment or Liquidity Impairment has been cured.
The aforementioned provisions shall apply to a limited partnership with a limited liability company as its general partner (GmbH & Co. KG) mutatis mutandis provided that any Capital Impairment and/or Liquidity Impairment shall be determined in relation to the general partner.
The Security Agent may demand payment under the German Guarantee to the extent the Auditor determines that the Capital Impairment or Liquidity Impairment has been cured.
The Administrative Agent may demand payment under this Guaranty to the extent that the Auditors determine that the Capital Impairment or Liquidity Impairment has been cured.
For the purpose of establishing whether a Liquidity Impairment would occur, payments made by FMCD after the Trustee has notified FMCD of its intention to enforce the Note Guarantee with respect to payment obligations that are not due at the time of the payment shall be disregarded, unless the Trustee has consented to such payments (at the direction of the Holders of at least a majority in principal amount of the Notes then outstanding).
The Company shall pay such Liquidity Impairment Payments to each Holder in cash or, at the Holder’s election, in shares of Common Stock, on the last Business Day of each month during which an Event has occurred and is continuing.
The restrictions set out in Section 2.4(c) in relation to a Liquidity Impairment shall cease to apply, if, at the time a demand for payment under the German Guaranty is made against a German Guarantor, such German Guarantor is unable to pay its debts as they fall due (zahlungsunfähig) or (ii) insolvency proceedings (Insolvenzverfahren) over any of such German Guarantor’s assets have been opened.
For the purposes of this Section 2, the value of the Common Stock shall equal the greater of: (i) the average closing bid price of the Common Stock as reported on the National Market for each of the ten Trading Days immediately preceding the date on which the Liquidity Impairment Payment is due or paid, or (ii) the Stated Value.
In the event the Company fails to make a Liquidity Impairment Payment within ten (10) Business Days of the date such Liquidity Impairment Payment is due, such Liquidity Impairment Payment shall bear interest at the rate of 1.0% per month until paid in full.