Payment Event definition

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

Payment Event means any of the following:

Payment Event means (a), the Debt Service Coverage Ratio with respect to any DSCR Determination Date is less than or equal to 1.50 to 1.00 (including if the Debt Service Coverage Ratio is less than or equal to 1.25 to 1.00), or (b) an Event of Default or Term Trigger Event has occurred. A Payment Event shall be deemed continuing until (i) with respect to clause (a), the Debt Service Coverage Ratio is greater than 1.50 to 1.00 on a DSCR Determination Date or (ii) such Event of Default or Term Trigger Event shall no longer be continuing.

Examples of Payment Event in a sentence

• Any repayment of the Principal Amount Outstanding will be made only in accordance with Conditions 7, 11 and 25, and will be subject to the relevant Payment Event having occurred and the Issuer having actually received the corresponding payment under the Series Specific Loans.

• All payments of Interest and principal by the Issuer under the Notes are dependent on the Issuer having received information on the Payment Event and the Available Distribution Amount being sufficient to make the relevant payments in accordance with the Priority of Payments.

• Amounts credited to a Deferred Payment Account under the Plan to a Plan Participant shall be paid to the Plan Participant in accordance with the terms of the Plan only upon the occurrence of a Permissible Payment Event.

• This first payment shall be made to the Plan Participant as soon as administratively practicable thereafter, but in no event later than thirty (30) days after the end of the calendar quarter that contains the Permissible Payment Event.

• Under either method, the first payment to a Plan Participant shall be calculated as of last day of the calendar quarter that contains the Permissible Payment Event.

More Definitions of Payment Event

Payment Event means the time at which a Deferred Annual Award may be paid pursuant to Section 4.2.

Payment Event means the earliest of the following: Retirement, death, Separation from Service other than due to Retirement or death, or Disability.

Payment Event means the applicable event triggering a payment of vested benefits under the Plan. The applicable event shall be one of the following:

Payment Event has the meaning set forth in Section 5.01(b) hereof.

Payment Event has the meaning specified in Section 5.03(d).

Payment Event means the termination of this Agreement pursuant to:

Payment Event means the termination of this Agreement pursuant to Section 12.1(a)(iv) or (v).