Permitted Withdrawal definition
Examples of Permitted Withdrawal in a sentence
Trustee Permitted Withdrawal Amount ----------------------------------- Means an aggregate amount not to exceed (a) with respect to costs associated with the transitioning of servicing, $75,000 per servicing transition event and (b) with respect to amounts (other than the Trustee Fee) which are payable to the Trustee pursuant to Section 8.05 hereof, $150,000 per annum.
In such event, Seller shall not be permitted to make such Other Permitted Withdrawal.
If Buyer does not object to such Other Permitted Withdrawal within such two (2) Business Day period, Seller shall be permitted to withdraw from the Hedge Account any amounts representing the Other Permitted Withdrawal set forth in Seller’s previously delivered notice.
Any Permitted Withdrawal shall constitute and effect an automatic withdrawal by all other Initiating Holders and any other Designated Stockholder participating in such Demand Registration pursuant to the provisions of Section 3(b) hereof.
Buyer shall have two (2) Business Days, from the later of (x) receipt of such notice or (y) receipt of any related documentation requested by Buyer, to notify Seller that, in Buyer’s reasonable discretion, it has determined that the withdrawal is not an Other Permitted Withdrawal.