Partial Release Event definition
Examples of Partial Release Event in a sentence
The Partial Release Event was completed in accordance with the terms of the Loan Agreement, and the Property does not include the Release Parcel.
If, within the ten (10) Business Day period (the “Partial Release Dispute Period”) following its receipt of a Partial Release Certificate, Chemring notifies the Escrow Agent and ADG in writing that Chemring disputes that a Partial Release Event has occurred, the Escrow Agent shall retain and not disburse the Partial Release Amount (defined below) to the ADG Parties.
Except as otherwise expressly permitted herein (including, without limitation, prepayments resulting from the application of Awards or Insurance Proceeds as provided herein or in connection with a Partial Release Event), in no event shall Lender have any obligation to accept a partial prepayment.
If, within such ten (10) Business Day period, Chemring notifies the Escrow Agent and ADG in writing that Chemring disputes that a Partial Release Event has occurred, the Escrow Agent shall retain and not disburse the Partial Release Amount to the ADG Parties.
Each Partial Release Event is separate and independent of any other Release Event and a given fact situation may entitle the Shareholders to have amounts released pursuant to more than one Partial Release Event.
Cascade and Seller shall instruct the Escrow Agent to release all of the Escrowed Funds in excess of the Floor Amount (defined below) promptly after (i) each partial conversion of the Note into Common Stock or partial exercise of any Note Put Option (each a "Partial Release Event") and (ii) receipt of each Monthly Statement (defined below).
Buyer and GGCP shall instruct the Escrow Agent to release all of the Escrowed Funds (as defined in the Escrow Agreement) in excess of the Floor Amount (defined below) (i) promptly after each Partial Release Event (as defined in the Escrow Agreement), (ii) promptly after receipt of each Monthly Statement (defined below) and (iii) at such other time as Buyer and GGCP shall mutually agree.
The Escrow Agreement shall provide that any such disbursement of the Partial Release Amount to the ADG Parties shall occur ten (10) Business Days after the receipt by the Escrow Agent and Chemring of a certificate signed by ADG that a Partial Release Event has occurred, which certificate shall describe the analysis of ADG in reaching the conclusion that there has been a Partial Release Event.
At any time after June 24, 2013, the ADG Parties may provide to the Escrow Agent and Chemring a certificate (a “Partial Release Certificate”) signed by ADG that a Partial Release Event has occurred, which Partial Release Certificate shall describe the analysis of ADG in reaching the conclusion that there has been a Partial Release Event.