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

• On the occurrence of a Sublease Early Purchase Option Event, EZH may purchase CEL Trust’s Lease Interest, and must pay CEL Trust an amount equal to the greater of the Sublease Termination Value on that date or the Fair Market Sales Value of CEL Trust’s Lease Interest.

• On March 17, the Union was certified as the exclusive bargaining representative of Transit & French’s baristas and shift supervisors.

• The failure of Senior Lender to timely provide a Purchase Option Notice to Subordinate Creditor following the occurrence of a Purchase Option Event shall have no adverse effect on Senior Lender other than resulting delay on Senior Lender's enforcement rights pursuant to the preceding sentence.

• Notwithstanding the foregoing but subject to the terms of the last sentence of this Section 14(a), the failure of Senior Lender to provide a Purchase Option Notice to any Junior Lender regarding the occurrence of a Purchase Option Event shall have no adverse effect on Senior Lender other than the resulting extension of the time in which the Purchase Election Notice may be given.

• If a Purchase Option Event occurs, the Company and Emirates are required to arrange for an appraisal of the current market value of the Asset, to be carried out by three independent appraisers.

More Definitions of Purchase Option Event

Purchase Option Event means any of the following events:

Purchase Option Event has the meaning provided in SECTION 9.02.

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

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 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 as defined in Section 5.7.

Purchase Option Event shall have the meaning assigned to such term in Section 20.