Purchase Option Event definition

Purchase Option Event shall have the meaning set forth in Section 3.8(a).

Purchase Option Event has the meaning provided in Section 13(a) hereof.

Purchase Option Event shall have the meaning assigned to such term in the Intercreditor Agreement.

Examples of Purchase Option Event in a sentence

• If any Purchasing Holder fails to deliver its pro rata share of the Total Purchase Price within such seven (7) Business Day period, in accordance with terms of this Section 5, then such Holder shall cease to have any right to purchase either the Senior Loan together with the Senior Junior Loans, or the Optioned Junior Loan together with the Additional Covered Junior Loan(s), as applicable, in connection with the applicable Purchase Option Event.

• Following the occurrence of a Purchase Option Event, each Junior Lender shall keep the other Junior Lenders informed as to such Junior Lender’s intention to exercise any of its respective rights in connection with the Purchase Option Event.

• Following the occurrence of a Purchase Option Event, each of the Participation A Holder and the Participation B Holder shall keep the other Participation Holder informed as to such Holder’s intention to exercise any of its respective rights in connection with the Purchase Option Event.

• Notwithstanding the foregoing but subject to the terms of the next to last sentence of this Section 14(c), the failure of a Senior Junior Lender to provide notice to any applicable Subordinate Junior Lender of the occurrence of a Junior Loan Purchase Option Event shall have no adverse effect on such Junior Lender.

• Following the occurrence of a Purchase Option Event, the Mezzanine Lenders shall keep each other informed as to their intention to exercise any of their respective rights in connection with the Purchase Option Event.

More Definitions of Purchase Option Event

Purchase Option Event means any one of the following events:

Purchase Option Event means the occurrence of any of the following: (a) the Administrative Agent shall notify the FILO B Documentation Agent of its intention to (by itself or at the direction of the Required Lenders) sell, lease or otherwise dispose of all or substantially all of the Collateral whether by private or public sale or to release any Loan Party from its Obligations under this Agreement, in each case in accordance with Section 9.08(e), (b) the Administrative Agent shall consent to any Liquidation of all or substantially all of the Borrowing Base Collateral (or if any such Liquidation is otherwise commenced or is the subject of a binding agreement among any Loan Party and a liquidator), (c) any FILO B Event of Default shall occur, (d) any Event of Default under Section 7.01(h) or Section 7.01(i) shall occur, (e) any Event of Default under Section 7.01(d) shall occur, but only to the extent (x) such Event of Default arises from the Loan Parties’ failure to comply with the provisions of Section 6.01, Section 6.02, Section 6.05 (in each case, as in effect on the Closing Date) and (y) such Event of Default has not been waived or cured within thirty (30) days, (f) any Event of Default under Section 7.01(e) shall occur, but only to the extent (x) such Event of Default arises from the Loan Parties’ failure to comply with the provisions of Section 5.07 and (y) such Event of Default has not been waived or cured within thirty (30) days, (g) any assignment by the Revolving Lenders and/or FILO A Lenders that results in more than twenty-five percent (25%) of either the Aggregate Revolving Exposure or the Aggregate FILO A Exposure, as applicable, being held by one or more Persons (together with each such Person’s Affiliates and Related Funds) that is not a financial institution regulated by the Board, or (h) any assignment by the Revolving Lenders and/or FILO A Lenders that results in more than fifty percent (50%) of either the Aggregate Revolving Exposure or the Aggregate FILO A Exposure, as applicable, being held by one or more Persons (together with each such Person’s Affiliates and Related Funds) that are not financial institutions regulated by the Board.

Purchase Option Event has the meaning provided in SECTION 9.02.

Purchase Option Event means (a) an acceleration of the First Lien Obligations in accordance with the applicable First Lien Credit Agreement, (b) the occurrence and continuation of any First Lien Default under the applicable First Lien Credit Agreement, that remains uncured or unwaived for at least thirty (30) consecutive days after the applicable First Lien Secured Party has knowledge thereof and the requisite First Lien Secured Parties have not agreed to forbear from the exercise of remedies, (c) following the occurrence of an Event of Default under the applicable First Lien Credit Agreement, an election by the applicable First Lien Secured Parties to cease making additional loans or advances under such First Lien Credit Agreement (in the full amount requested by the Loan Parties to the extent such amount would be otherwise permitted and available under the applicable First Lien Credit Agreements) when such loans or advances under such First Lien Credit Agreement would not cause the principal amount of the applicable First Lien Obligations to exceed the applicable Maximum First Lien Principal Amount and such election continues for ten (10) consecutive days, (d) the initiation of any secured creditor remedies by the applicable First Lien Agent upon all or a material portion of the Common Collateral, including putting account debtors on notice to make payment to, or at the direction of, such First Lien Agent, (e) the commencement of an Insolvency Proceeding, (f) a Second Lien Payment Default, or (g) the occurrence and continuation of any other Second Lien Default that remains uncured or unwaived for at least sixty (60) consecutive days.

Purchase Option Event has the meaning set forth in Section 10.01(a).

Purchase Option Event means any of (i) the First Lien Agent's or any First Lien Claimholder's (A) commencement of any Enforcement Action against the First Lien Collateral or (B) acceleration of the First Lien Obligations (other than pursuant to commencement by any Person other than any First Lien Claimholder of an Insolvency Proceeding relating to any Grantor) or (C) commencement of, or joinder in filing a petition for the commencement of, an Insolvency Proceeding against any Grantor, (ii) the occurrence of an Event of Default under the Indenture and (iii) the occurrence of an Insolvency Proceeding in respect of any Grantor.

Purchase Option Event shall be any of the following: