Purchase Option Trigger definition

Purchase Option Trigger. As defined in Section 3.35(b).
Sample 1Sample 2Sample 3
Purchase Option Trigger means the occurrence of any of the following: (a) an Event of Default has occurred and is continuing under the Revolving Loan Agreements and the revolving loan and other loan commitments under the Revolving Loan Agreements have been terminated; (b) the maturity of the Revolving Loan Debt has been accelerated pursuant to a written notice delivered by Revolving Loan Lender to Obligors based on an Event of Default under the Revolving Loan Agreements; or (c) Revolving Loan Lender shall have commenced, or shall have notified Noteholder Agent in writing that it intends to commence, a Lien Enforcement Action with respect to any Revolving Loan Priority Collateral, or shall have commenced, or shall have notified Noteholder Agent that it intends to commence, the exercise of any of its rights and remedies with respect to Borrower and/or any other Obligors to collect the Revolving Loan Debt, all in accordance with the Revolving Loan Agreements; or (d) from and after the date which is ninety-one (91) days from the date hereof, a payment Event of Default has occurred and is continuing under the Noteholder Documents.
Sample 1
Purchase Option Trigger means and refer to the occurrence of any of the following: (a) an Event of Default, or (b) any date on or after the date which is six (6) months following the date hereof, without regard to whether any default or Event of Default has occurred.
Sample 1

Examples of Purchase Option Trigger in a sentence

  • On one occasion exercised within 30 days of a Purchase Option Trigger Event, the Term Lenders shall have the option, but not the obligation, to (x) purchase from the Revolving Lenders all, but not less than all, of the Revolving Loans and other Revolving Credit Obligations owing to the Revolving Lenders and (y) assume all, but not less than all, of the then-existing Revolver Commitments.

  • If an ABL Purchase Option Trigger shall occur and the ABL Agent does not deliver an ABL Purchase Notice to the Term Agent prior to the expiration of the ABL Purchase Option Period, the ABL Claimholders shall have no further right to purchase, and the Term Claimholders shall have no further obligation to sell, the Term Debt pursuant to this Section 10.

  • If the Purchase Option Trigger shall have ------------------- occurred, Noteholder Agent on behalf of the Noteholders shall have the option at any time upon ten (10) Business Days' prior written notice to Revolving Loan Lender to purchase from Revolving Loan Lender all of the Revolving Loan Debt (the "Revolving Loan Buyout Amount").

  • Upon the occurrence of a Purchase Option Trigger Event, all or a portion of the Term Loan Creditors, acting as a single group, shall have the option at any time upon five (5) Business Days’ prior written notice to the ABL Representative to purchase all of the ABL Obligations from the ABL Secured Parties (other than the exclusion, at the purchasers’ option, of the amount of ABL Obligations in excess of the ABL Loan Maximum Amount).

  • The Class B Purchase Option Notice shall specify the date on which the Class B Purchase Option is to be exercised by the relevant Class B Lenders which shall be no later than the tenth (10th) Business Day following the Class B Purchase Option Trigger (or such later date agreed to by the Class A Lenders) (such date, the “Class B Purchase Option Exercise Date”).

  • If the Second Out Lenders fail to exercise the Purchase Option in respect of any Purchase Option Trigger Event within the required timeframe, the Priority Lenders shall have no further obligations pursuant to this Section 11.30 in respect of such Purchase Option Trigger Event and may take any further actions in respect of such Purchase Option Trigger Event in accordance with this Agreement and the other Loan Documents.

  • If the Second Lien Claimholders fail to exercise the Purchase Option in respect of any Purchase Option Trigger Event within the required timeframe, the First Lien Claimholders shall have no further obligations pursuant to this Section 5.7 in respect of such Purchase Option Trigger Event and may take any further actions in their sole discretion in respect of such Purchase Option Trigger Event in accordance with the First Lien Loan Documents and this Agreement.

  • It is understood and agreed that the Term Agent’s sole responsibility in connection with a potential Term Purchase Option Trigger - 62 - WEIL:\96331350\2\35899.0561 is to, at the written request of the requisite percentage of holders of Term Debt, deliver the Term Purchase Notice to the ABL Agent.

  • If the Corporation expects that a Purchase Option Trigger Event will occur, then the Corporation shall, not less than ten (10) calendar days prior to the occurrence of the Purchase Option Trigger Event, give written notice (the "Purchase Option Notice") thereof to each holder of record of shares of Series B Preferred Stock.

  • In connection therewith, BHMF GP hereby agrees that the Purchase Option shall be extended until such time as the “net asset value” (including all accrued but undistributed Incentive Distributions) of BHMF GP’s Interest in the Partnership as of the Purchase Option Trigger Date has been determined in accordance with this Section 10.4(a)(ii).

Related to Purchase Option Trigger

  • Purchase Option Period As defined in Section 9.03(a) hereof.

  • Purchase Option Notice As defined in Section 3.18(e).

  • Purchase Option Price means the amount payable by a Lessee upon the exercise of its option to purchase a related 2018-1 Vehicle which amount equals (a) with respect to a Matured Vehicle, the Contract Residual Value plus any fees, taxes and other charges imposed in connection with such purchase and (b) with respect to a related 2018-1 Vehicle for which the related 2018-1 Lease has been terminated early by the Lessee, the sum of (i) any unpaid Monthly Payments due, (ii) any fees, taxes and other charges imposed in connection with the related 2018-1 Lease, (iii) an early termination fee and (iv) the Actuarial Payoff.

  • Repurchase Option has the meaning set forth in Section 1.3(a) hereto.

  • Notice-triggering PI means the PI identified in CCC § 1798.29(e) whose 25 unauthorized access may trigger notification requirements under CCC § 1709.29. For purposes of this 26 provision, identity shall include, but not be limited to, name, identifying number, symbol, or other 27 identifying particular assigned to the individual, such as a finger or voice print, a photograph or a 28 biometric identifier. Notice-triggering PI includes PI in electronic, paper or any other medium.

  • Initial Triggering Event means any of the following events or transactions occurring after the date hereof:

  • Purchase Option As defined in Section 3.18(c).

  • Early Preference Share Redemption Notice means a notice of early redemption of some or all of the Preference Shares given by or on behalf of the Company in accordance with Condition 6 (Notices).

  • Subsequent Triggering Event means any of the following events or transactions occurring after the date hereof: (i) The acquisition by any person (other than Grantee or any Grantee Subsidiary) of beneficial ownership of 25% or more of the then outstanding Common Stock; or (ii) The occurrence of the Initial Triggering Event described in clause (i) of subsection (b) of this Section 2, except that the percentage referred to in clause (z) of the second sentence thereof shall be 25%.

  • Series A Redemption Notice has the meaning set forth in Section 16.6(b).

  • Put Option Event means a Change of Control Event.

  • Warrant Exercise Period shall commence (subject to Section 6(d) below), on the later of:

  • Put Right has the meaning set forth in Section 8.05(a).

  • Early Preference Share Redemption Event means the event that occurs if:

  • Carve-Out Trigger Notice means a written notice delivered by the Administrative Agent or the Required Lenders (which delivery may be made by any electronic method of transmission) to the Borrower and its counsel, the United States Trustee, and lead counsel to any Committee, which notice may be delivered following the occurrence and continuance of an Event of Default, and stating that the Post-Carve-Out Trigger Notice Cap has been invoked.

  • Voting Rights Triggering Event means the failure of the Company to pay dividends on the Preferred Stock with respect to six or more quarterly periods (whether or not consecutive).

  • Put Option means an exchange traded option with respect to Securities other than Stock Index Options, Futures Contracts, and Futures Contract Options entitling the holder, upon timely exercise and tender of the specified underlying Securities, to sell such Securities to the writer thereof for the exercise price.

  • Put Option Notice means a notice which must be delivered to a Paying Agent by any Noteholder wanting to exercise a right to redeem a Note at the option of the Noteholder;

  • Conversion Right has the meaning provided in Section 4.5(a) hereof.

  • Call Option Notice means a written notice from the holder of the Call Option or the Administrator, as applicable, stating its desire to exercise the Call Option on the related Reset Date, delivered to each Clearing Agency, the Indenture Trustee, the Remarketing Agents, the Rating Agencies and, if the related class of Reset Rate Notes is then listed on the Luxembourg Stock Exchange, the Administrator will forward a copy to the Luxembourg Listing Agent (the contents of which are to be published in a leading newspaper having general circulation in Luxembourg).

  • Termination Option Event means an event of a kind defined as such in Section 4.1, 4.2 or 4.8.

  • Initial Warrant Exercise Date means __________, 1997.

  • Optional Redemption Notice shall have the meaning set forth in Section 6(a).

  • Early Redemption Event means that R (k) is equal to or greater than the Early Redemption Level (k) on the respective Observation Date (k).

  • Company Triggering Event shall be deemed to have occurred if: (a) the Company shall have made a Company Board Adverse Recommendation Change; (b) the Company Board or any committee thereof shall have publicly approved, endorsed or recommended any Acquisition Proposal; or (c) the Company shall have entered into any letter of intent or similar document relating to any Acquisition Proposal in violation of the terms of the Agreement.

  • Conversion Option means the Company’s option to convert some or all of the Series D Preferred Stock into that number of shares of Common Stock that are issuable at the then-applicable conversion rate as described in Section 8(c) of these Articles Supplementary.