Properly Elects definition

Properly Elects has the meaning assigned to it in Section 7.3.
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Properly Elects means the delivery within twenty (20) Business Days following receipt by the Trustee of notice of acceleration of the Obligations and termination of the Commitments to the Agent and each Lender by an Authorized Representative of an irrevocable written notice to purchase all “Priority Lien Indebtedness” (as such term is defined in the Senior Note Indenture as originally in effect) arising under or secured by the Loan Documents (including, without limitation, Indebtedness arising under Hedging Agreements) pursuant to the terms of this Section 7.3.
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Examples of Properly Elects in a sentence

  • The term "Properly Elects" means the delivery by such Noteholder(s) or the Trustee on its (or their) behalf during the period that begins on the date of an Occurrence and ends on the twentieth (20th) Business Day following receipt by the Trustee of a Default Notice, to the Agent and each Lender by such Noteholder(s) of an irrevocable written notice to purchase all "Senior Lender Claims" (as such term is defined in the Inter-Creditor Agreement) pursuant to the terms of this Section 9.21.

  • Such notice (the "Default Notice") shall include the name and address of each Lender, and Agent agrees to notify Trustee of the name and address of any new Lender that acquires a Loan during the period beginning on the date of an Occurrence and ending on the earlier of the date twenty (20) Business Days following the delivery of the Default Notice or the Noteholder(s) (as hereinafter defined) Properly Elects under this Section 9.21.

Related to Properly Elects

  • Primary election means any regular primary election held under the election

  • 10) Election has the meaning set forth in Section 6.05(a).

  • Eligible elector means a person who meets the specific requirements for voting at a specific election or for a specific candidate, ballot question, or ballot issue. If no specific provisions are given, an eligible elector shall be a registered elector, as defined in subsection (35) of this section.

  • State elective position means any position held by any

  • Safe Harbor Election has the meaning set forth in Section 10.2(d).