Purchase Option Trigger Event definition

Purchase Option Trigger Event means (i) any Priority Revolving Facility Trigger Event, (ii) any Event of Default under Section 8.01(2) with respect to Sections 6.01(1) or 6.01(2) or Article VII or (iii) the First Lien Net Leverage Ratio (which shall not, for the avoidance of doubt, give effect to any Cure Amount) as of the last day of the most recently ended Test Period as specified in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(1) exceeds 6.00:1.00.
Sample 1Sample 2Sample 3
Purchase Option Trigger Event means (a) an Event of Default has occurred and is continuing or (b) the Obligations have been accelerated in accordance with Section 10.02.
Sample 1Sample 2Sample 3
Purchase Option Trigger Event means the occurrence of (i) any event permitting the Landlord to exercise the “Disposition Option” set forth in Section 9.2 of the Master Lease as in effect on the Closing Date or (ii) any Agent’s exercise of material remedies with respect to a Loan Event of Default.
Sample 1Sample 2Sample 3

Examples of Purchase Option Trigger Event 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.

  • 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).

  • 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.

  • Upon the Second Out Lenders (or any subset of them) exercising the Purchase Option in respect of any Purchase Option Trigger Event within the required timeframe, the parties hereto shall cooperate in good faith to promptly consummate the Priority Lien Purchase.

  • 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.

  • Upon the Second Lien Claimholders (or any subset of them) exercising the Purchase Option in respect of any Purchase Option Trigger Event within the required timeframe, the parties hereto shall cooperate in good faith to promptly consummate the First Lien Purchase.


More Definitions of Purchase Option Trigger Event

Purchase Option Trigger Event shall occur when (i) an Event of Default has occurred and is continuing, (ii) any Creditor has notified the Collateral Agent and each other Creditor of its desire to direct the Collateral Agent to take action hereunder, and (iii) within 60 days after the notice specified in clause (ii), the Required Creditors shall not have authorized the Collateral Agent to take such action and the
Sample 1
Purchase Option Trigger Event has the meaning set forth in Section 11.30(a).
Sample 1
Purchase Option Trigger Event means (a) the termination of any of the DCRBN Member Site Lease, the DCRBN Member PPA, the DCRBN Member SFA or the Property Management Agreement or (b) the expiration of any of the DCRBN Member Site Lease, the DCRBN Member PPA, the DCRBN Member SFA or the Property Management Agreement.
Sample 1
Purchase Option Trigger Event has the meaning set forth in Section 5.7(a).
Sample 1
Purchase Option Trigger Event means the occurrence of any of the following events: (a) an Event of Default under (and as defined in) the ABL Documents, if such Event of Default remains uncured or unwaived for at least thirty (30) consecutive days and the requisite ABL Creditors have not agreed to forbear from the exercise of remedies; (b) an Event of Default under (and as defined in) the Term Loan Documents resulting from the failure of any Loan Party to make any payment under the Term Loan Documents when due (whether at the maturity thereof, or upon demand therefor or upon acceleration of maturity or otherwise) and such Event of Default has not been waived, cured or remedied in accordance with the terms of the Term Loan Documents and has continued for a period thirty (30) consecutive days and the requisite Term Loan Creditors have not agreed to forbear from the exercise of remedies; (c) the commencement by any Secured Party of an Enforcement Action; or (d) the commencement of an Insolvency Proceeding by or against any Loan Party.
Sample 1

Related to Purchase Option Trigger Event

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

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

  • 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.

  • 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%.

  • Put Option Event means a Change of Control Event.

  • 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).

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

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Auto-Call Trigger Event means an event which occurs if, in the determination of the Calculation Agent, the Index Performance as of the Valuation Time on an Auto-Call Valuation Date is greater than or equal to the relevant Auto-Call Trigger Level.

  • 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.

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

  • 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).

  • 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.

  • 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.

  • Exercise Event shall have the meaning ascribed to such term in Section 2(c).

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

  • Exercise Termination Event (i) the Effective Time (as defined in the Merger Agreement) of the Merger; (ii) termination of the Merger Agreement in accordance with the provisions thereof if such termination occurs prior to the occurrence of an Initial Triggering Event, except a termination by Grantee pursuant to Section 8.1(d) of the Merger Agreement (unless the breach by Issuer giving rise to such right of termination is non-volitional); or (iii) the passage of 12 months after termination of the Merger Agreement if such termination follows the occurrence of an Initial Triggering Event or is a termination by Grantee pursuant to Section 8.1(d) of the Merger Agreement (unless the breach by Issuer giving rise to such right of termination is non-volitional) (provided that if an Initial Triggering Event continues or occurs beyond such termination and prior to the passage of such 12-month period, the Exercise Termination Event shall be 12 months from the expiration of the Last Triggering Event but in no event more than 18 months after such termination). The "Last Triggering Event" shall mean the last Initial Triggering Event to expire. The term "Holder" shall mean the holder or holders of the Option.

  • Automatic Early Redemption Event means that:

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • Change of Control Triggering Event means the occurrence of both a Change of Control and a Rating Event.

  • Make-Whole Fundamental Change Conversion Period has the following meaning:

  • Ratings Trigger Event has the meaning set forth in Section 3.14 of the Sale and Servicing Agreement.

  • Early Preference Share Redemption Date means the day falling ten Business Days after the Early Preference Share Valuation Date.

  • Final Preference Share Redemption Date means the date that falls twenty Business Days following the Valuation Date on which the Calculation Agent has determined the Final Preference Share Redemption Amount or, if earlier, the first Auto-Call Valuation Date on which an Auto-Call Trigger Event has occurred.