Mandatory Partial Payment Event definition

Mandatory Partial Payment Event means the occurrence of any of the following:
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Mandatory Partial Payment Event means the occurrence of any of the following events or circumstances:
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Mandatory Partial Payment Event has the meaning specified in Section 2.5(c).
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Examples of Mandatory Partial Payment Event in a sentence

  • Upon the occurrence of a Mandatory Payment Event or a Mandatory Partial Payment Event, all Deferred Interest Payments will become mandatorily due and payable in full on the date of either such event, notwithstanding any further Deferral Notice or an occurrence or continuance of a Required Deferral Condition.

  • The Company shall give a Deferral Notice in the case of a Required Deferral Condition and may give a Deferral Notice, in its sole discretion and for any reason, in the case of an Optionally Deferred Payment, except that any such Deferral Notice as to a payment required to be paid pursuant to a Mandatory Payment Event or Mandatory Partial Payment Event pursuant to Section 2.5(a) below shall have no force or effect.

  • Subject to the existence of a Required Deferral Condition, the Company agrees that it will not defer any payment required to be paid as a result of a Mandatory Payment Event or Mandatory Partial Payment Event (as contemplated by Section 2.5(a) only) on the Capital Securities.

  • The Issuer has agreed that if it defers a payment for any reason as described above then, while any payment is so deferred, it will not recommend to its shareholder(s) and, to the fullest extent permitted by applicable law, will otherwise act to prevent, any action that would constitute a Mandatory Payment Event or Mandatory Partial Payment Event.

  • Upon the occurrence of a Mandatory Payment Event or a Mandatory Partial Payment Event, no Deferred Interest Payments or Additional Interest in respect thereof will become mandatorily due and payable in full on the date of either such event or any succeeding Interest Payment Date.

  • Except in a Winding Up, all payments, other than certain payments required to be made pursuant to any Mandatory Payment Event, or Mandatory Partial Payment Event on the Securities, will be conditional upon no Required Deferral Condition existing at the time of payment.

  • From the date the Company delivers a Deferral Notice until any Deferred Interest Payment is paid in full on the 6.20% ING Perpetual Debt Securities, the Company agrees that it will not recommend to its shareholders, and to the fullest extent permitted by applicable law will otherwise act to prevent, any action that would constitute a Mandatory Payment Event or Mandatory Partial Payment Event.

  • The Company shall promptly notify the Trustee of the occurrence of any Mandatory Payment Event or Mandatory Partial Payment Event.

  • The Issuer agrees that, beginning on the day the Issuer gives a Deferral Notice until all Deferred Coupon Payments are paid or satisfied in full, the Issuer will not recommend to its shareholders, and to the fullest extent permitted by applicable law will otherwise act to prevent, any action which would constitute a Mandatory Payment Event or a Mandatory Partial Payment Event.

  • If and for so long as a Regulatory Deferral Event exists, the terms of the Capital Securities shall be automatically altered so that a Mandatory Payment Event or a Mandatory Partial Payment Event, as applicable, will be deemed to occur only if the Issuer declares, pays or distributes a dividend or makes a payment (other than a dividend in the form of Ordinary Shares) on its Ordinary Shares or other instruments which are classified as equity under IFRS.


More Definitions of Mandatory Partial Payment Event

Mandatory Partial Payment Event means (a) prior to the occurrence of a Regulatory Notification, the occurrence of any of the following:
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Related to Mandatory Partial Payment Event

  • Repayment Event means any event or condition which gives the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

  • Payment Event means the event or events giving rise to the right to payment of a Performance Award.

  • Mandatory Prepayment Event means any of the following:

  • Prepayment Event means any Asset Sale Prepayment Event, Debt Incurrence Prepayment Event, Casualty Event or any Permitted Sale Leaseback.

  • Special Event Redemption Price has the meaning specified in Section 11.2.

  • Foreign Prepayment Event has the meaning assigned to such term in Section 2.11(g).

  • Redemption Event has the meaning set forth in Section 3.4.

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

  • Tax Event Repayment Date means the date set out in a notice from the Issuer to the Bondholders pursuant to Clause 10.4 (Early redemption option due to a tax event).

  • Reinvestment Event any Asset Sale or Recovery Event in respect of which the Borrower has delivered a Reinvestment Notice.

  • Asset Sale Prepayment Event shall not include any transaction permitted by Section 10.4 (other than transactions permitted by Section 10.4(b) and Section 10.4(o), which shall constitute Asset Sale Prepayment Events).

  • Change of Control Redemption Premium means 125%.

  • Triggering Redemption Amount means, for each share of Preferred Stock, the sum of (a) the greater of (i) 130% of the Stated Value and (ii) the product of (y) the VWAP on the Trading Day immediately preceding the date of the Triggering Event and (z) the Stated Value divided by the then Conversion Price, (b) all accrued but unpaid dividends thereon and (c) all liquidated damages and other costs, expenses or amounts due in respect of the Preferred Stock.

  • Tax Event Redemption Price means an amount equal to the unpaid principal amount of this Note to be redeemed, which shall be determined by multiplying (1) the Outstanding Principal Amount of this Note by (2) the quotient derived by dividing (A) the outstanding principal amount to be redeemed by Principal Life of the Funding Agreement by (B) the outstanding principal amount of the Funding Agreement.

  • Mandatory Default Amount means the payment of 130% of the outstanding principal amount of this Note and accrued and unpaid interest hereon, in addition to the payment of all other amounts, costs, expenses and liquidated damages due in respect of this Note.

  • Class B Investor Default Amount means, with respect to each Distribution Date, an amount equal to the product of (i) the Investor Default Amount for such Distribution Date and (ii) the Class B Floating Percentage for such Monthly Period.

  • Mandatory Purchase Event means, (i) in connection with the termination of the VRDP Shares Purchase Agreement due to its expiration as of a Scheduled Termination Date, by the fifteenth day prior to any such Scheduled Termination Date, (a) the Liquidity Provider shall not have agreed to an extension or further extension of the Scheduled Termination Date to a date not earlier than 364 days from the Scheduled Termination Date of the VRDP Shares Purchase Agreement then in effect, and (b) the Corporation shall not have obtained and delivered to the Tender and Paying Agent an Alternate VRDP Shares Purchase Agreement with a termination date not earlier than 364 days from the Scheduled Termination Date of the VRDP Shares Purchase Agreement, or (ii) in connection with the termination of the VRDP Shares Purchase Agreement due to a Liquidity Provider Ratings Event or Related Party Termination Event, by the fifteenth day prior to the Liquidity Provider Ratings Event Termination Date or Related Party Termination Date, as the case may be, the Corporation shall not have obtained and delivered to the Tender and Paying Agent an Alternate VRDP Shares Purchase Agreement with a termination date not earlier than 364 days from the Liquidity Provider Ratings Event Termination Date or Related Party Termination Date, as the case may be, of the VRDP Shares Purchase Agreement. The Mandatory Purchase Event shall be deemed to occur on such fifteenth day prior to any Scheduled Termination Date, Liquidity Provider Ratings Event Termination Date or Related Party Termination Date, as the case may be.

  • Put Event means the occurrence of:

  • Change of Control Redemption Price shall have the meaning set forth in Section 7.3;

  • Event Date shall have the meaning set forth in Section 2(d).

  • Acceleration Event means the occurrence of an Event of Default (a) in respect of which Agent has declared all or any portion of the Obligations to be immediately due and payable pursuant to Section 10.2, (b) pursuant to Section 10.1(a), and in respect of which Agent has suspended or terminated the Revolving Loan Commitment pursuant to Section 10.2, and/or (c) pursuant to either Section 10.1(e) and/or Section 10.1(f).

  • Automatic Early Redemption Event means that:

  • Mandatory Purchase Date means the Purchase Date for a Mandatory Purchase in accordance with this Statement and the VRDP Purchase Agreement.

  • Replacement Event shall have the meaning specified in Section 11.16.

  • Investor Default Amount means, with respect to any Distribution Date, an amount equal to the product of (a) the Defaulted Amount for the related Monthly Period and (b) the Floating Allocation Percentage for such Monthly Period.

  • Potential Adjustment Event means any of the following: