MFN Condition definition

MFN Condition has the meaning assigned to such term in Section 2.08(d)(i)(H).
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MFN Condition. The Yield in respect of any Additional Facility that constitutes a term loan facility established within 12 Months of the Closing Date and subsisting in reliance on paragraph (I)(i) of the Additional Facility Amount Condition may not exceed 100 basis points per annum above the Yield applicable in respect of Facility B6 (the “MFN Rate”) unless the Margin on Facility B and CAF 1 is offered to be increased by the amount by which (and/or, at the Company’s 6 For the avoidance of any doubt, an Additional Facility may have the same Margin ratchet as applies to Facility B (including the same Total Net Leverage Ratio levels and the basis point Margin step-down(s) and step-up(s)), but with the relevant Margin percentage rate per annum specified at each level of the Margin ratchet in respect of that Additional Facility set up to the MFN Rate higher than the corresponding levels applicable to the Margin ratchet in respect of Facility B. election, the Company offers to pay fees to the Lenders under Facility B and CAF 1, equated to a per annum rate by dividing such fees by 3, such that), pro forma for the incurrence of that Additional Facility the Yield in respect of that Additional Facility, would exceed the MFN Rate. In respect of any Additional Facility that constitutes a term loan facility subsisting in reliance on paragraphs (I)(i), (I)(ii) and/or (I)(iii) of the Additional Facility Amount Condition, (i) the final stated maturity date applicable to that Additional Facility shall not be earlier than the original Termination Date applicable to Facility B as at the date of the Senior Facilities Agreement (unless the Termination Date applicable to Facility B and CAF 1 is offered to be amended to a date falling on or prior to the final stated maturity date applicable to that Additional Facility) and (ii) that Additional Facility does not require scheduled amortisation prior to the original Termination Date applicable to Facility B as at the date of the Senior Facilities Agreement (unless the amortisation applicable to Facility B and CAF 1 is offered to be amended to a percentage amortisation per annum equal to the percentage per annum rate of amortisation applicable to such Additional Facility, provided always that, in the case of any Additional Facility that constitutes a term loan facility subsisting in reliance on paragraphs (I)(i), (I)(ii) and/or (I)(iii) of the Additional Facility Amount Condition, scheduled amortisation shall be permitted up to 1 per cent. per ann...
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Examples of MFN Condition in a sentence

  • The information on the necessary bolt tightness can be found in the table “Bolt tightening torque.

  • Granting Verizon’s request for clarification will serve only to encourage this behavior.V. CONCLUSION As drafted, the MFN Condition provides a true operational benefit for competitive providers.

  • The Verizon MFN Condition Must be Broadened to Require Company-Wide Portability of All Pre-Merger Agreements When Bell Atlantic and GTE decided to merge, they did their due diligence and evaluated the benefits and detriments of the proposed combination.

  • Verizon has imposed cost-incurring, time-consuming hurdles for competitive carriers to overcome in order to obtain any benefit from the MFN Condition.

  • Entry into force This Directive shall enter into force on the ⌫ twentieth ⌧ day ⌫ following that ⌧ of its publication in the Official Journal of the European Union.

  • Inspection findings are noted and tracked in the District’s GIS database.Issues that can be resolved at the time of identification are repaired immediately, those that cannot be repaired are assigned a priority inaccordance with GO 95 Rule 18 (Exhibit F to the WMP).

  • Competitive carriers already have experienced significant delays and increased market entry costs as a result of Verizon’s interpretation of the MFN Condition and the way Verizon does business as a merged entity.

  • If the Commission were to adopt Verizon’s interpretation of the MFN Condition, the Commission would be rendering the Condition useless to competitive carriers because competitive carriers would be forced to negotiate and/or arbitrate essential provisions of an agreement.

  • Joint Commenters submit that clarification of the MFN Condition is not necessary, but enforcement is essential.

Related to MFN Condition

  • Change in condition means a change in physical condition of the employee as well as any change

  • Termination Conditions means, collectively, (a) the payment in full in cash of the Obligations (other than (i) contingent indemnification obligations not then due and (ii) Obligations under Secured Hedge Agreements and Secured Cash Management Agreements) and (b) the termination of the Commitments and the termination or expiration of all Letters of Credit under this Agreement (unless the Outstanding Amount of the L/C Obligations related thereto has been Cash Collateralized on terms reasonably acceptable to the applicable Issuing Bank, backstopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank or deemed reissued under another agreement reasonably acceptable to the applicable Issuing Bank).

  • Step Down Conditions As of any Distribution Date on which any decrease in any Senior Prepayment Percentage may apply, (i) the outstanding Principal Balance of all Mortgage Loans 60 days or more Delinquent (including Mortgage Loans in REO and foreclosure), averaged over the preceding six month period, as a percentage of the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates on such Distribution Date, does not equal or exceed 50% and (ii) cumulative Realized Losses with respect to all of the Mortgage Loans do not exceed: · for any Distribution Date on or after the seventh anniversary until the eighth anniversary of the first Distribution Date, 30% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the eighth anniversary until the ninth anniversary of the first Distribution Date, 35% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the ninth anniversary until the tenth anniversary of the first Distribution Date, 40% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the tenth anniversary until the eleventh anniversary of the first Distribution Date, 45% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, and · for any Distribution Date on or after the eleventh anniversary of the first Distribution Date, 50% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date.

  • Rating Condition has the meaning specified in Section 2.06(c)(ii).

  • Minimum Condition has the meaning set forth in Annex I.

  • Extension Minimum Condition means a condition to consummating any Extension that a minimum amount (to be determined and specified in the relevant Extension Request, in the Borrower’s sole discretion) of any or all applicable Classes be submitted for Extension.

  • Qualifying condition means a condition described in Section 26-61a-104.

  • Acute condition means a disease, illness or injury that is likely to respond quickly to treatment which aims to return the person to his or her state of health immediately before suffering the disease/ illness/ injury which leads to full recovery.

  • Release Condition means the following:

  • Extension Conditions Defined in Section 3.06(a).

  • Equity Conditions means, during the period in question, (a) the Company shall have duly honored all conversions and redemptions scheduled to occur or occurring by virtue of one or more Notices of Conversion of the Holder, if any, (b) the Company shall have paid all liquidated damages and other amounts owing to the Holder in respect of this Note, (c)(i) there is an effective Registration Statement pursuant to which the Holder is permitted to utilize the prospectus thereunder to resell all of the shares of Common Stock issuable pursuant to the Transaction Documents (and the Company believes, in good faith, that such effectiveness will continue uninterrupted for the foreseeable future) or (ii) all of the Conversion Shares issuable pursuant to the Transaction Documents (and shares issuable in lieu of cash payments of interest) may be resold pursuant to Rule 144 without volume or manner-of-sale restrictions or current public information requirements as determined by the counsel to the Company as set forth in a written opinion letter to such effect, addressed and acceptable to the Transfer Agent and the Holder, (d) the Common Stock is trading on a Trading Market and all of the shares issuable pursuant to the Transaction Documents are listed or quoted for trading on such Trading Market (and the Company believes, in good faith, that trading of the Common Stock on a Trading Market will continue uninterrupted for the foreseeable future), (e) there is a sufficient number of authorized but unissued and otherwise unreserved shares of Common Stock for the issuance of all of the shares then issuable pursuant to the Transaction Documents, (f) there is no existing Event of Default and no existing event which, with the passage of time or the giving of notice, would constitute an Event of Default, (g) the issuance of the shares in question (or, in the case of an Optional Redemption or Monthly Redemption, the shares issuable upon conversion in full of the Optional Redemption Amount or Monthly Redemption Amount) to the Holder would not violate the limitations set forth in Section 4(d) and Section 4(e) herein, (h) there has been no public announcement of a pending or proposed Fundamental Transaction or Change of Control Transaction that has not been consummated, (i) the applicable Holder is not in possession of any information provided by the Company, any of its Subsidiaries, or any of their officers, directors, employees, agents or Affiliates, that constitutes, or may constitute, material non-public information, (j) for each of the twenty (20) Trading Days prior to the applicable date in question, the closing price of the Common Stock on the principal Trading Market is at least equal to the Floor Price plus an eight percent (8%) premium (as defined below), (k) the average daily dollar volume of for the Common Stock on the principal Trading Market for the twenty (20) Trading Days prior to the applicable date in question exceeds $200,000, and (l) the Company has timely filed (exclusive of any grace period) all of its SEC Reports during the time period in question.

  • Minimum Tender Condition shall have the meaning provided in Section 2.15(b).

  • Liquidity Condition means an event of immediate termination or suspension as specified in a Liquidity Facility, upon the occurrence of which the Standby Purchaser is not obligated to purchase Multi-Modal Bonds, and, accordingly, such Bonds are not subject to tender for purchase.

  • Payment Condition at any time of determination with respect to any Specified Transaction, that the following conditions are all satisfied: (x) (1) 30-Day Specified Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) and (2) the Specified Availability on the date of such Specified Transaction (divided by Availability as of such time of determination and expressed as a percentage), in each case exceed the applicable Availability Percentage (as defined below) and, (y) unless the Fixed Charge Condition (as defined below) is satisfied (to the extent applicable), the Parent Borrower shall be in Pro Forma Compliance with a minimum Consolidated Fixed Charge Coverage Ratio of at least 1.00:1.00 and (z) if reasonably requested by the Administrative Agent, the Borrower Representative shall have delivered to the Administrative Agent (i) a copy of calculations required by preceding clause (y) in reasonable detail and (ii) a calculation of Specified Unrestricted Cash. As used herein, the following terms shall have the following meanings: (i) “Availability Percentage”: shall mean (a) in respect of any Restricted Payment pursuant to Subsection 8.3(k), 12.5%; (b) in respect of (A) any investment or acquisition permitted pursuant to clause (u) of the definition of “Permitted Investments” or (B) clause (c)(i) of the definition of “Permitted Acquisitions,” 10.0%; (c) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 12.5%; (d) in respect of any merger, consolidation, amalgamation or asset sale pursuant to Subsection 8.2(a) or 8.2(b), 10.0%; and (e) in respect of any Asset Sale that would otherwise have to comply with Subsection 8.5, 10.0%.; and (ii) “Fixed Charge Condition” shall mean 30-Day Specified Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) exceeds: (a) in respect of any Restricted Payment pursuant to Subsection 8.3(k), 17.5%; (b) in respect of any acquisition permitted pursuant to clause (c)(i) of the definition of “Permitted Acquisitions”, 15.0%; (c) in respect of any investment permitted pursuant to clause (u) of the definition of “Permitted Investments”, 15.0%; (d) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 15.0%; and (e) in respect of (A) any merger, consolidation, amalgamation or asset sale pursuant to Subsection 8.2(a) or 8.2(b) or (B) any Asset Sale that would otherwise have to comply with Subsection 8.5, 15.0%.

  • Equity Conditions Failure means that on any applicable date the Equity Conditions have not been satisfied (or waived in writing by the Holder).

  • Litigation Conditions has the meaning set forth in Section 11.3.

  • LC Conditions has the meaning given to such term in Section 2.9.

  • Specified Condition means, with respect to a party, any event specified as such for that party in Paragraph 13.

  • Eligibility Conditions means the eligibility conditions specified in the Act and the Rules including all the eligibilityconditions listed in Clause [5] of the Tender Document.

  • Condition Satisfaction Date shall have the meaning set forth in Section 7.2.

  • Minimum Extension Condition has the meaning specified in Section 2.15(b).

  • Unsafe condition as used in this clause means the actual or potential exposure of contractor or Government employees to a hazardous material as defined in Federal Standard No. 313, and any revisions thereto during the term of this contract, or any other material or working condition designated by the Contracting Officer's Technical Representative (COTR) as potentially hazardous and requiring safety controls.

  • Early Termination Conditions means the types of conditions listed in Schedule A.

  • Maximum Tender Condition has the meaning specified in Section 2.17(b).

  • Redemption Conditions means, with respect to any payment of cash in respect of the principal amount of any Permitted Convertible Debt, satisfaction of each of the following events: (a) no Default or Event of Default shall exist or result therefrom, and (b) both immediately before and at all times after such redemption, Borrower’s Qualified Cash shall be no less than the sum of 150% of the outstanding Secured Obligations plus the Qualified Cash A/P Amount.

  • Equity Conditions Measuring Period means each day during the period beginning twenty (20) Trading Days prior to the applicable date of determination and ending on and including the applicable date of determination.