Prepayment Trigger Event definition

Prepayment Trigger Event means the receipt by any Secured Obligor of any proceeds under any property insurance policy in respect of Secured Assets in excess of $35,000,000 or the Exchange Equivalent thereof, where such proceeds or any portion thereof have not been used or committed by such Secured Obligor to repair or replace the subject Secured Assets within 180 days of such Secured Obligor’s receipt thereof.

Prepayment Trigger Event has the meaning given to it in Section 3.09(b).

Prepayment Trigger Event means the receipt by any Company of any insurance proceeds in excess of $5,000,000 or the Exchange Equivalent thereof, where such proceeds or any portion thereof have not been used or committed by such Company to repair or replace the subject assets within six months of such Company’s receipt thereof.

Examples of Prepayment Trigger Event in a sentence

• As used in this Credit Agreement, the following terms shall have the meanings set forth below (and such meanings shall be equally applicable to both the singular and plural form of the terms defined, as the context may require): Acceleration Event: means an Event of Default, Potential Default, Prepayment Trigger Event or Potential Prepayment Trigger Event.

• On each occasion that a Prepayment Trigger Event occurs, the Borrower shall give written notice thereof to the Administrative Agent and shall, contemporaneously with the occurrence of such Prepayment Trigger Event, prepay outstanding credit granted to the Borrower under the Facilities in an amount equal to 100% of the Net Cash Proceeds.

• In addition to the remedies set forth in Sections 6.5, 14.1 and 14.2 hereof, upon the occurrence of an Event of Default or Prepayment Trigger Event, the Administrative Agent shall be entitled to exercise, subject to the provisions of Section 15.8 hereof, all the rights and remedies provided in the Loan Documents and by any Applicable Law.

• Neither the Borrower nor CHS Europe nor any Local Subsidiary is in default under any agreement, obligation or duty to which it is a party or by which it or any of its properties or assets is bound which could reasonably be expected to have a Material Adverse Effect and there exists no Default or a Prepayment Trigger Event.

More Definitions of Prepayment Trigger Event

Prepayment Trigger Event means any Asset Sale Trigger Event, Tasiast Trigger Event or any Leverage Trigger Event.

Prepayment Trigger Event means (x) any sale of 100% of the Shares of a Material Subsidiary or (y) any sale of all or substantially all of the assets of any Material Subsidiary, in each case in accordance with Section 11.2(d).

Prepayment Trigger Event means any Asset Sale Trigger Event or Insurance Prepayment Trigger Event.

Prepayment Trigger Event means, subject to Section 11.1(d), the receipt by any Obligor of any insurance proceeds in respect of the Secured Assets (other than in respect of an insurance claim for a lost or stolen shipment of Saleable Product, provided that an Event of Default has not occurred and is not continuing) in excess of $10,000,000 where such proceeds or any portion thereof have not been used or committed by such Obligor to repair or replace the subject assets within 12 months of such Obligor’s receipt thereof. Credit Agreement - Orla

Prepayment Trigger Event means an applicable Prepayment Trigger Event as the context so requires.

Prepayment Trigger Event means an Asset Sale Prepayment Trigger Event, an Insurance Prepayment Trigger Event, a Debenture Prepayment Trigger Event or a Tax Prepayment Trigger Event.

Prepayment Trigger Event means the issuance by the Borrower of any equity securities, debt securities, private placements, convertible debt, commodity linked notes or any combination thereof.