Payout Event means the occurrence unavailable deposits as defined in point (8) of Article 2(1) of Directive 2014/49/EU in relation to a credit institution affiliated to a participating DGS;
Payout Event means the implementation of a Bid by a Successful Bidder in accordance with the Bidding Procedures in which the Successful Bidder has provided the Debtors with sufficient Cash to be distributed according to the terms of the Plan that (i) except as described in (ii) of this definition with respect to the DIP Facility Claims and the Prepetition Secured Lender Claims, treats all creditors no less favorably than as provided by the Plan (including providing for payment in full of all Administrative Claims) and (ii) provides the Debtors with sufficient consideration (cash or committed financing) to indefeasibly satisfy the DIP Facility Claims in full in cash and exceed the $35 million of the Prepetition Secured Claims bid under the Credit Bid by at least the $500,000 initial overbid, in each case in the form of: (A) cash to indefeasibly pay all DIP Facility Claims in full and any tax incurred due to, or associated with, the proposed structure of the Bid and at least $35.5 million of the Prepetition Secured Lender Claims; or (B) such other consideration as agreed in writing by the DIP Lenders and the Prepetition Agent.
Payout Event. As defined in Section 7. 1.
Examples of Payout Event in a sentence
Payout Instruction This means a notice issued by the Authority to Us certifying the occurrence of a Payout Event.
Payout Event This means a Termination Event or a Judgment Sum Event.
More Definitions of Payout Event
Payout Event means a Termination Event or a Judgment Sum Event.
Payout Event means a situation where a Relevant Credit Institution has been identified to be the object of a Decision.
Payout Event means a chapter 11 plan, other than the Plan, providing for the (i) the indefeasible payment in full in cash, including any accrued but unpaid interest (including postpetition interest at the default contract rate), of: (A) all of the First Lien Claims and (B) all Claims arising under (I) the DIP Financing, (II) the CLSIP Loan, (III) the Gibraltar 2019 Term Loan, (IV) the Gibraltar 2021 Term Loan, and (V) the Gibraltar Intermediate Secured Term Loan; and (ii) treatment of all other Claims against the Company on terms that are no less favorable than as provided in the Restructuring Term Sheet
Payout Event means either the end of the Performance Period or an Acceleration Event, at the case may be.
Payout Event means the implementation of one or more Successful Bids, in accordance with the Bidding Procedures, by a Person that is not the DIP Agent or the Intercreditor Agent, for any portion of the Debtors’ Assets in which the Successful Bid (or Successful Bids, as applicable) provides the Debtors with Cash sufficient to (i) pay DIP Claims in full in Cash, and
Payout Event means the occurrence unavailable deposits as defined in
Payout Event means any (i) liquidation, dissolution or winding up of the Company; (ii) a sale of all or substantially all of the assets of the Company to a third party; (iii) a merger or consolidation of the Company with or into another entity pursuant to which (a) the capital stock of the Company outstanding immediately prior to the merger or consolidation is converted into or exchanged for securities of another entity or cash or property and (b) the stockholders of the Company immediately prior to the merger or consolidation own less than 50% of the combined voting stock of the surviving company (or the parent of the surviving company) in the merger or consolidation.; or (iv) a sale or other disposition in one transaction or series of transactions, regardless of the form of the transaction or of the form of consideration received, of 60% or more (based on voting control) of the capital stock of the Company to a single person or group (within the meaning of Rule 13d-5(b)(1) promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended).