Maturity Event means with respect to a Mortgage Loan, the earliest to occur of: (a) the Mortgaged Property is sold or transferred; (b) the death of the last remaining Mortgagor; (c) the Mortgaged Property ceases to be the principal residence of a Mortgagor for reasons other than death and the Mortgaged Property is not the principal residence of at least one other Mortgagor, together with the required FHA approval; (d) for a period of longer than twelve (12) consecutive months, a Mortgagor fails to occupy the Mortgaged Property because of physical or mental illness and the Mortgaged Property is not the principal residence of at least one other Mortgagor, together with the required FHA approval; or (e) Mortgagor violates any other covenant of the Mortgage or Mortgage Note and is unable (or refuses) to correct the violation, together with the required FHA approval.
Maturity Event means (i) the Maturity Date; (ii) an acceleration, Acceleration Event or breach under the Agreement; (iii) a Change of Control transaction or sale of the Company or any of its Affiliates; (iv) a sale or transfer of substantially all the assets or intellectual property of the Company or that of its Affiliates other than to the Company; or (v) at Lender’s sole option, the termination of Lender’s employment with the Company or his ceasing to be the Company’s Chief Executive Officer based on any reason, whether without cause or for cause, whether voluntary or involuntary, and including based on death or incapacitation of Lender.
Maturity Event means the failure of the Owner Trustee to pay the entire Outstanding Principal Balance of all of the Class A Notes on or prior to the date which is three (3) months after the Class A-4 Final Scheduled Payment Date.
Examples of Maturity Event in a sentence
Where the Issuer has nominated an event as an Early Maturity Event, the Issuer may in its absolute discretion determine that there will be an Early Maturity and may specify a date as the Early Maturity Date.
Where the Issuer has nominated an event as an Early Maturity Event, the Issuer may reasonably determine that there will be an Early Maturity and may specify a date as the Early Maturity Date.
In the event that the Bail-in Power is exercised by the Relevant Resolution Authority, the Issuer may elect to treat this event as both an Adjustment Event and an Early Maturity Event, which may result in either an adjustment of the Terms of the Units, or a partial or full Early Maturity of all or some only of the outstanding Units, or both, as required by reference to the exercise of the Bail-in Power.
The Early Maturity Value, Buy-Back Price or Final Value may be less than $1.00 per Unit, and may be zero, if there is an Early Maturity Event (except in the case of an Automatic Early Redemption Event), an Investor requested Issuer Buy-Back, or a Knock-In Event occurs and at least one Non Knock-Out Underlying Share has its Final Price below its Barrier Price.
Upon occurrence of the Early Maturity Event and at the Company’s option, the initial principal and capitalized interest are exchangeable into common shares of PolyMet at $1.2920 per share.
More Definitions of Maturity Event
Maturity Event means with respect to a Loan, the earliest to occur of: (a) Borrower conveys all of his or her title to the Mortgage Property and no other Borrower retains title to the Mortgage Property in fee simple or on a leasehold interest as permitted by FHA Regulations; (b) the death of the last remaining Borrower; (c) the Mortgaged Property ceases to be the principal residence of a Borrower for reasons other than death and the Mortgaged Property is not the principal residence of at least one other Borrower, together with the required FHA approval; (d) for a period of longer than twelve (12) consecutive months, a Borrower fails to physically occupy the Mortgaged Property because of physical or mental illness and the Mortgaged Property is not the principal residence of at least one other Borrower, together with the required FHA approval; (e) Borrower or Mortgagor violates any other covenant of the Mortgage or Mortgage Note and is unable (or refuses) to correct the violation, together with the required FHA approval; or (f) any additional occurrence which may be determined to constitute a maturity event by FHA regulations, as may be amended from time to time, which does not violate, change or conflict with the terms of the Mortgage Instrument or Mortgage Note.
Maturity Event means with respect to each Mortgage Loan, an event set forth in the related Mortgage Note, the occurrence of which will cause the Principal Balance of such Mortgage Loan to become immediately due and payable. Such an event, in the case of a Mortgage Loan, generally occurs (i) when Mortgagor dies and the related Mortgaged Property is not the principal residence of at least one surviving Mortgagor, (ii) when a Mortgagor sells or conveys title to the Mortgaged Property and no other Mortgagor retains title to such Mortgaged Property, (iii) when the Mortgaged Property ceases to be the principal residence of the Mortgagor for reasons other than death and such Mortgaged Property is not the principal residence of at least one surviving Mortgagor, (iv) if a Mortgagor fails to occupy the Mortgaged Property for a period longer than [*] because of physical or mental illness and such Mortgaged Property is not the principal residence of at least one other Mortgagor, or (v) if a Mortgagor fails to perform any of its obligations under the Mortgage Loan. “Maximum Aggregate Purchase Price” shall have the meaning set forth in the Pricing Letter. “Maximum Claim Amount” shall mean with respect to each HECM Loan, the lesser of the Appraised Value of the related Mortgaged Property and the maximum mortgage limit established by the Secretary of Housing and Urban Development for a one family residence under section 203(b)(2) of the National Housing Act (as adjusted where applicable under Section 214 of the National Housing Act). Both the Appraised Value and the maximum dollar amount for the area shall be determined as of the date the conditional commitment for such Mortgage Loan is issued or as otherwise specified by the Secretary of Housing and Urban Development. “MERS” shall mean Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto. “MERS System” shall mean the system of recording transfers of mortgages electronically maintained by MERS.
Maturity Event means the earlier to occur of the following: (i) February 13, 2013 (provided however, that if there is no Event of Default, such date may be extended by six months to August 13, 2013 by the Company providing the Lender with 60 days advance written notice), or (ii) 30 days after written notice from any Lender to the Company, if prior to the giving of such notice, the Company has consummated an IPO in which it receives gross proceeds in the amount of $15,000,000 or more.
Maturity Event means the earlier of (i) eighteen (18) months anniversary of the final close of the offer and sale of this and all of Series 2022 Crowd SAFEs by the Company through the Intermediary’s platform pursuant to a Form C, as amended, filed with the Securities and Exchange Commission or (ii) the Company’s election to accelerate and declare a Maturity Date before such time as clause (i) of this definition occurs.
Maturity Event means (a) the maturity of any of the Bank Loans or the Notes by acceleration or otherwise; (b) the Company shall (1) petition or apply to any tribunal for the appointment of a trustee, custodian, receiver or liquidator for all or any substantial part of its business, estate or assets, or (2) commence any proceeding under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution or liquidation law of any jurisdiction, whether now or hereafter in effect; or (c) any such petition or application shall be filed or any such proceeding shall be commenced against the Company and (1) the Company shall indicate approval thereof, consent thereto or acquiescence therein, or (2) an order shall be entered appointing a trustee, custodian, receiver or liquidator of all or any substantial part of the assets of the Company or granting relief to the Company or approving the petition in any such proceeding, and such order shall remain in effect for more than 30 days.
Maturity Event means the earlier to occur of the following: (i) April 1, 2013, (ii) the occurrence of an initial public offering of the Company’s equity securities in which the Company receives gross proceeds in the amount of $10,000,000 or more, or (iii) the consummation of a transaction in which the Company is either merged with a reporting company (a “Public Company”) under the 1934 Act, or a Public Company acquires all or substantially all of the outstanding securities of the Company in exchange for the issuance of securities of the Public Company, and in connection therewith, in either event as the case may be, the survivor of such merger or the Public Company receives gross proceeds from the sale of such survivor’s securities or the Public Company’s securities in the amount of $10,000,000 or more.
Maturity Event means any event, act or circumstance arising under this Note or any other Loan Document (including any failure by Borrower to adhere to any term or provision of this Note or any other Loan Document), which causes Lender to declare the event, act or circumstance a “Maturity Event” with respect to any Floorplan Advance or Receivable Advance.