Prepayment Events definition

Prepayment Events means (a) the occurrence of any Specified Cash Event or the consummation of any other Asset Sale, (b) the incurrence by Conseco or any of its Subsidiaries of any Indebtedness of the type described in clause (a) or (b) of the definition thereof, excluding Indebtedness permitted by Section 4.01 other than as set forth in Section 4.01(b) (to the extent required to be applied as a Prepayment Event as set forth in the definition of "Exempt Waterfall Amounts"), (c) the issuance of any Capital Stock by Conseco and (d) any receipt of Net Proceeds in connection with any Permitted Tritel Hedge Transaction.
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Prepayment Events. The following shall constitute "Prepayment Events", if they occur, after such time as the indebtedness owing pursuant to the CoBank Credit Agreement is paid in full: (a) EcoScience or any of its Subsidiaries shall incur any indebtedness for borrowed money, other than the indebtedness evidenced by the CoBank Credit Agreement (as hereinafter defined) and refinancings or replacements thereof (to the extent of the aggregate principal amount actually refinanced or replaced), and intercompany indebtedness between EcoScience and any of its Subsidiaries or between any of such Subsidiaries (a "Debt Event") (b) EcoScience or any of its Subsidiaries shall issue any capital stock for cash (a "Stock Event") other than the issuance of Capital Stock by a newly formed 51% owned subsidiary to Grodania A/S or its designee (the "Grodan Transaction"), or (c) EcoScience or any of its Subsidiaries shall sell any asset, other than in the ordinary course of business other than the transfer of assets to a newly formed 51% owned Subsidiary in connection with the Grodan Transaction (an "Asset Sale"). "Net Proceeds" shall mean (x) in the case of a Debt Event, all cash loan proceeds, less reasonable transactions expenses, (y) in the case of a Stock Event, all cash proceeds, less reasonable transaction expenses and (z) in the case of an Asset Sale, all net cash proceeds, after payment of reasonable transactions expenses and indebtedness required to be repaid by any lien attached to the related asset. Except as specifically set forth in Section 8(b) below, on the day that a Prepayment Event occurs, EcoScience shall pay over to CDH as a prepayment on the Exchange Note, the lesser of (i) 50% of the Net Proceeds related to such Prepayment Event or (ii) the principal and interest then outstanding on the Exchange Note. . If any such payment shall be sufficient to pay the Exchange Note in full, CDH shall on receipt of such payment, xxxx the Exchange Note as cancelled and return the same to EcoScience. If such payment is not sufficient to pay the Exchange Note in full, CDH shall record such partial prepayment amount on Schedule I to the Exchange Note. Each such payment made pursuant to this Section 7(b) shall be applied first to the payment of accrued interest, and the balance to the outstanding principal amount of the Exchange Note in inverse order of maturity thereof.
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Examples of Prepayment Events in a sentence

  • Each of the following events or occurrences described in this Clause 11.1 (Listing of Mandatory Prepayment Events) shall constitute a “Mandatory Prepayment Event”.

  • No prepayment shall be required pursuant to Section 5.2(a)(i) with respect to Asset Sale Prepayment Events, Casualty Events and Permitted Sale Leasebacks unless and until the amount at any time of Net Cash Proceeds from such Prepayment Events required to be applied at or prior to such time pursuant to such Section and not yet applied at or prior to such time to prepay Term Loans pursuant to such Section exceeds $7,500,000 in the aggregate for all such Prepayment Events.

  • No prepayment shall be required pursuant to Section 5.2(a)(i) unless and until the amount at any time of Net Cash Proceeds from Prepayment Events required to be applied at or prior to such time pursuant to such Section and not yet applied at or prior to such time to prepay Term Loans pursuant to such Section exceeds the Dollar Equivalent of $15,000,000 in the aggregate for all such Prepayment Events.

  • No prepayment shall be required pursuant to Section 5.2(a)(i) unless and until the amount at any time of Net Cash Proceeds from Prepayment Events required to be applied at or prior to such time pursuant to such Section and not yet applied at or prior to such time to prepay Term Loans pursuant to such Section exceeds the Dollar Equivalent of $15,000,000 in the aggregate.

  • No prepayment shall be required pursuant to Section 5.2(a)(i) unless and until the amount at any time of Net Cash Proceeds from Prepayment Events required to be applied at or prior to such time pursuant to such Section and not yet applied at or prior to such time to prepay Term Loans pursuant to such Section exceeds $15,000,000 in the aggregate.

  • If the operation of an attachment, sequestration, distress or execution that affects a material part of the assets or revenues of a Non-Obligor Restricted Company arises and is not discharged within 21 days of such event occurring, then the Company shall comply with the provisions of Clause 8.4 (General Procedure in respect of Specified Prepayment Events).

  • No prepayment shall be required pursuant to Section 5.02(a)(i) unless and until the amount at any time of Net Cash Proceeds from Prepayment Events required to be applied at or prior to such time pursuant to such Section and not yet applied at or prior to such time to prepay Term Loans, Permitted First Priority Debt or Permitted First Priority Refinancing Debt pursuant to such Section exceeds (i) $10,000,000 for a single Prepayment Event or (ii) $20,000,000 in the aggregate for all such Prepayment Events.

  • No prepayment shall be required pursuant to Section 5.2(a)(i) unless and until the amount at any time of Net Cash Proceeds from Prepayment Events required to be applied at or prior to such time pursuant to such Section and not yet applied at or prior to such time to prepay Term Loans pursuant to such Section exceeds (i) $5,000,000 for any single Prepayment Event or series of related Prepayment Events and (ii) $10,000,000 in the aggregate for all such Prepayment Events.

  • Notwithstanding the foregoing, so long as no Event of Default shall be continuing, the Loan Parties may elect to reduce any prepayment which would otherwise be payable by the Borrower pursuant to this provision by substituting new Eligible Containers for the Eligible Containers subject of such Prepayment Event(s) in accordance with the procedure therefor set forth in §3.2.3 hereof and subject to the limitations set forth therein.

  • Not more than 25% of the assets subject to the restrictions of Sections 2.10(c) (to the extent applicable to Prepayment Events referred to in clause (a) of the definition of such term), 6.02 and 6.03 will at any time consist of Margin Stock (as defined in Regulations U and X of the Board).

Related to Prepayment Events

  • Prepayment Event means any Asset Sale Prepayment Event, Debt Incurrence Prepayment Event, Casualty Event or any Permitted Sale Leaseback.

  • Repayment Event means any event or condition which gives the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

  • Mandatory Prepayment Event means any of the following:

  • Asset Sale Prepayment Event shall not include any transaction permitted by Section 10.4 (other than transactions permitted by Section 10.4(b) and Section 10.4(o), which shall constitute Asset Sale Prepayment Events).

  • Foreign Prepayment Event has the meaning assigned to such term in Section 2.11(g).

  • Debt Incurrence Prepayment Event means any issuance or incurrence by the Borrower or any of the Restricted Subsidiaries of any Indebtedness (excluding any Indebtedness permitted to be issued or incurred under Section 10.1 other than Section 10.1(w)(i)).

  • Reinvestment Event any Asset Sale or Recovery Event in respect of which the Borrower has delivered a Reinvestment Notice.

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

  • Interest Rate Adjustment Event means the occurrence of any of the following:

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

  • Prepayment Date has the meaning specified in Section 2.05(c).

  • Tax Event Repayment Date means the date set out in a notice from the Issuer to the Bondholders pursuant to Clause 10.4 (Early redemption option due to a tax event).

  • Special Event Prepayment Price means 100% of the outstanding principal amount of the Notes, plus any accrued and unpaid interest thereon up to but excluding the date of prepayment.

  • Adjustment Events the Partnership makes a distribution on all outstanding OP Units in Partnership Units, (B) the Partnership subdivides the outstanding OP Units into a greater number of units or combines the outstanding OP Units into a smaller number of units, or (C) the Partnership issues any Partnership Units in exchange for its outstanding OP Units by way of a reclassification or recapitalization of its OP Units. If more than one Adjustment Event occurs, the adjustment to the Class B Units need be made only once using a single formula that takes into account each and every Adjustment Event as if all Adjustment Events occurred simultaneously. For the avoidance of doubt, the following events shall not be Adjustment Events: (x) the issuance of Partnership Units in a financing, reorganization, acquisition or other similar business transaction, (y) the issuance of Partnership Units pursuant to any employee benefit or compensation plan or distribution reinvestment plan, or (z) the issuance of any Partnership Units in respect of a capital contribution to the Partnership, including a contribution by the General Partner of proceeds from the sale of securities by the General Partner. If the Partnership takes an action affecting the OP Units other than actions specifically described above as Adjustment Events and, in the opinion of the General Partner such action would require an adjustment to the Class B Units to maintain the one-to-one correspondence described above, the General Partner shall have the right to make such adjustment to the Class B Units, to the extent permitted by law, in such manner and at such time as the General Partner, in its sole discretion, may determine to be appropriate under the circumstances. If an adjustment is made to the Class B Units as herein provided, the Partnership shall promptly file in the books and records of the Partnership an officer’s certificate setting forth such adjustment and a brief statement of the facts requiring such adjustment, which certificate shall be conclusive evidence of the correctness of such adjustment absent manifest error. Promptly after the filing of such certificate, the Partnership shall mail a notice to each holder of Class B Units setting forth the adjustment to his, her or its Class B Units and the effective date of such adjustment.

  • Change of Control Redemption Premium means 125%.

  • Value Adjustment Event means, with respect to any Loan Asset, the occurrence of any one or more of the following events after the related Cut-Off Date:

  • Replacement Event shall have the meaning specified in Section 11.16.

  • Prepayment Amount means the amount required to prepay the Annual Special Tax obligation in full for an Assessor’s Parcel as described in Section G.

  • ECF Prepayment Amount has the meaning assigned to such term in Section 2.11(b)(i).

  • Reinvestment Prepayment Date with respect to any Reinvestment Event, the earlier of (a) the date occurring twelve months after such Reinvestment Event and (b) the date on which the Borrower shall have determined not to, or shall have otherwise ceased to, acquire or repair assets useful in the Borrower’s business with all or any portion of the relevant Reinvestment Deferred Amount.

  • Mandatory Prepayment Amount for any Debentures shall equal the sum of (i) the greater of: (A) 130% of the principal amount of Debentures to be prepaid, plus all accrued and unpaid interest thereon, or (B) the principal amount of Debentures to be prepaid, plus all other accrued and unpaid interest hereon, divided by the Conversion Price on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is less, multiplied by the VWAP on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is greater, and (ii) all other amounts, costs, expenses and liquidated damages due in respect of such Debentures.

  • Reinvestment Prepayment Amount with respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any amount expended prior to the relevant Reinvestment Prepayment Date to acquire or repair assets useful in the Borrower’s business.

  • Permitted Prepayment Date means the Business Day after the second (2nd) anniversary of the first Payment Date

  • Mandatory Prepayment Date as defined in Section 2.12(e).

  • Required Prepayment Date as defined in Section 2.15(c).

  • Prepayment Price Has the meaning specified in Section 6.02(b) of the Indenture.