Qualified Deleveraging Event definition

Qualified Deleveraging Event. Either (i) a firm commitment underwritten public offering of the equity interests of Spirit MTA or any direct or indirect parent entity of Spirit MTA pursuant to a registration statement under the Securities Act, which results in aggregate cash proceeds to Spirit MTA or any direct or indirect parent entity of Spirit MTA of at least $75 million (net of underwriting discounts and commissions), (ii) an acquisition (whether by merger, consolidation or otherwise) of greater than fifty percent (50%) of the voting equity interests of Spirit MTA, or any direct or indirect parent of Spirit MTA by any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) or (iii) Spirit MTA or any direct or indirect parent or subsidiary of Spirit MTA sells or transfers (whether by merger, consolidation or otherwise) all of its interests in the Issuers or the Issuers convey or transfer (whether by merger, consolidation or otherwise) all or substantially all the Collateral Pool in accordance with the applicable restrictions in the Indenture (in each case, other than a sale, transfer or other conveyance to a direct or indirect parent or wholly owned subsidiary of Spirit MTA).
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Qualified Deleveraging Event. Except as otherwise defined in a related Series Supplement with respect to a particular Series of Notes, (i) one or more firm commitment underwritten public offerings of the equity interests of STORE Capital or any direct or indirect parent entity of STORE Capital pursuant to a registration statement under the Securities Act, which result in aggregate cash proceeds to STORE Capital or any direct or indirect parent entity of STORE Capital of at least $75,000,000 (net of underwriting discounts and commissions), (ii) an acquisition of greater than fifty percent (50%) of the equity interests of STORE Capital or any direct or indirect parent of STORE Capital by an entity that has shares that are traded on a national exchange, or (iii) the firm commitment purchase by one or more third parties unaffiliated with the Issuers of at least $100,000,000 of unsecured corporate debt of STORE Capital or any of its subsidiaries with an investment grade rating published by Xxxxx’x, S&P or another nationally recognized statistical rating organization.
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Qualified Deleveraging Event either (i) a firm commitment underwritten public offering of the equity interests of AFOP or any direct or indirect parent entity of AFOP pursuant to a registration statement under the Securities Act, which results in aggregate cash proceeds to AFOP or any direct or indirect parent entity of AFOP of at least $75,000,000 (net of underwriting discounts and commissions), (ii) an acquisition (whether by merger, consolidation or otherwise) of greater than fifty percent (50%) of the equity interests of AFOP or any direct or indirect parent of AFOP by any person or entity or group of affiliated persons or entities, or (iii) the good faith purchase by a third party unaffiliated with the Issuers of at least $50,000,000 of unsecured corporate debt of AFOP or any direct or indirect parent of AFOP.
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Examples of Qualified Deleveraging Event in a sentence

  • Notwithstanding the foregoing, (i) a sale, substitution or exchange pursuant to any of Sections 2.04, 3.15, 3.24, 7.02, 7.03, 7.05, 7.06 or 7.07 of this Agreement or (ii) in connection with a Series Collateral Release or a Qualified Deleveraging Event, a sale of Owned Properties or Loans to (x) a third party that is unaffiliated with SCF Realty Capital or (y) an SCF SPE, in each case, shall not be taken into consideration for purposes of the first sentence of this Section 7.01(a).

  • In addition, with respect to any release of Properties in connection with a Qualified Deleveraging Event, no Make Whole Amount shall be due with respect to such release.

  • In addition, after each of the Series 2015-1 Notes and the Series 2016-1 Notes have been repaid in full, for any release of Owned Properties, Hybrid Leases or Loans in connection with a Qualified Deleveraging Event, (i) no Make Whole Amount shall be due with respect to such release and (ii) the Released Assets in connection with such release shall not be counted toward the calculation of all Released Assets subject to the 35% limitation described above.


More Definitions of Qualified Deleveraging Event

Qualified Deleveraging Event. As defined in the Property Management Agreement.
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Qualified Deleveraging Event either (i) one or more firm commitment underwritten public offerings of the equity interests of Sponsor or any direct or indirect parent entity of Sponsor pursuant to a registration statement under the Securities Act, which results in aggregate cash proceeds to Sponsor or any direct or indirect parent entity of Sponsor of at least $75,000,000 (net of underwriting discounts and commissions), (ii) an acquisition (whether by merger, consolidation or otherwise) of greater than fifty percent (50%) of the equity interests of Sponsor or any direct or indirect parent entity of Sponsor by any person or entity or group of affiliated persons or entities, or (iii) the good faith purchase by a third party unaffiliated with the Issuer of at least $100,000,000 of unsecured corporate debt of Sponsor or any direct or indirect parent entity of Sponsor.
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Qualified Deleveraging Event. As defined in the Indenture.
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Qualified Deleveraging Event either (i) a firm commitment underwritten public offering of the equity interests of SCF Realty Capital or any direct or indirect parent entity of SCF Realty Capital pursuant to a registration statement under the Securities Act, which results in aggregate cash proceeds to SCF Realty Capital or any direct or indirect parent entity of SCF Realty Capital of at least $75 million (net of underwriting discounts and commissions), (ii) an acquisition of greater than fifty percent (50%) of the equity interests of SCF Realty Capital or any direct or indirect parent of SCF Realty Capital by an entity that has shares that are traded on a national exchange or (iii) the good faith purchase by a third party, unaffiliated with the Issuer of at least $50,000,000 of unsecured corporate debt by SCF Realty Capital with an investment grade rating published by Xxxxx’x Investor Services, Inc., S&P or another nationally recognized statistical rating organization.
Sample 1
Qualified Deleveraging Event means either (i) a firm commitment underwritten public offering of the equity interests of SMTA or any direct or indirect parent entity of SMTA pursuant to a registration statement under the Securities Act, which results in aggregate cash proceeds to SMTA or any direct or indirect parent entity of SMTA of at least $75.0 million (net of underwriting discounts and commissions), (ii) an acquisition (whether by merger, consolidation or otherwise) of greater than 50% of the voting equity interests of SMTA, or any direct or indirect parent of SMTA by any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) or (iii) SMTA or any direct or indirect parent or subsidiary of SMTA sells or transfers (whether by merger, consolidation or otherwise) all of its interests in the note issuers or the note issuers convey or transfer all or substantially all the collateral pool (described below) in accordance with the applicable restrictions in the indenture (in each case, other than a sale, transfer or other conveyance to a direct or indirect parent or wholly owned subsidiary of SMTA).
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Related to Qualified Deleveraging Event

  • Financing Event means the earlier of (i) a public offering by the Company of its Common Stock with aggregate gross proceeds of at least $5 million; or (ii) the listing of the Company’s Common Stock on a National Securities Exchange, as such term is defined under the Exchange Act.

  • Repricing Event means (a) any prepayment, repayment, refinancing, substitution or replacement of all or a portion of the 2015 Term Loans with the proceeds of, or any conversion of 2015 Term Loans into, any new or replacement Class of, or new facility of, syndicated term loans by the Borrower in the principal amount of the 2015 Term Loans prepaid, repaid, refinanced, substituted, replaced or converted and secured by the Collateral (including Replacement Term Loans or other term loans under this Agreement) having an “effective yield,” determined by the Administrative Agent in consultation with the Borrower (taking into account interest rate margin and benchmark floors, recurring fees and all upfront or similar fees or original issue discount (amortized over four years) paid to the lenders providing such Indebtedness, but excluding any arrangement, structuring, syndication or other fees payable in connection therewith that are not shared ratably with all lenders or holders of such term loans in their capacities as lenders or holders of such term loans), less than the “effective yield” applicable to the 2015 Term Loans being prepaid, repaid, refinanced, substituted, replaced or converted (determined on the same basis as provided in the preceding parenthetical) and (b) any amendment to this Agreement (including pursuant to a Replacement Term Loan or other term loans under this Agreement) to the 2015 Term Loans or any tranche thereof which reduces the “effective yield” applicable to such 2015 Term Loans (as determined on the same basis as provided in clause (a)), in each case only if the primary purpose of such prepayment, repayment, substitution, replacement or amendment was to reduce the “effective yield” applicable to such 2015 Term Loans.

  • Rating Event means the rating on the Notes is lowered by each of the Rating Agencies and the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on any day within the 60-day period (which 60-day period will be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) after the earlier of (a) the occurrence of a Change of Control and (b) public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control; provided that a Rating Event will not be deemed to have occurred in respect of a particular Change of Control (and thus will not be deemed a Rating Event for purposes of the definition of Change of Control Triggering Event) if each Rating Agency making the reduction in rating does not publicly announce or confirm or inform the Trustee in writing at the request of the Company that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the Change of Control (whether or not the applicable Change of Control has occurred at the time of the Rating Event).

  • Liquidity Event means a Change of Control or an IPO.

  • Restructuring Event means the occurrence of any one or more of the following events:

  • Exempted Fundamental Change means any Fundamental Change with respect to which, in accordance with Section 4.02(I), the Company does not offer to repurchase any Notes.

  • Disqualifying Event has the meaning specified in the definition of “Eligible Currency”.

  • Capital Disqualification Event has the meaning specified in Section 1.1 of the Indenture.

  • TLAC Disqualification Event means OSFI has advised the Bank in writing that the bail-inable notes issued under the applicable pricing supplement will no longer be recognized in full as TLAC under the TLAC Guideline as interpreted by the Superintendent, provided that a TLAC Disqualification Event will not occur where the exclusion of those bail-inable notes from the Bank’s TLAC requirements is due to the remaining maturity of those bail-inable notes being less than any period prescribed by any relevant eligibility criteria applicable as of the issue date of those bail-inable notes.

  • designated sporting event generally means any association football match, whether national or international. The full legal definition of the different classes of designated sporting events may be found in the Sports Grounds and Sporting Events (Designation) (Amendment) Order 2011, under Article 2(1) and 2(2) of Schedule 2.

  • Sporting event means any of the following athletic activities that is organized, operated, managed, or sponsored by the School:

  • Hedging Event means, with respect to the Notes, the occurrence of an event that has a material adverse effect on Royal Bank’s ability to place, maintain or modify any hedge, including without limitation:

  • Subsequent Triggering Event means either of the following events or transactions occurring after the date hereof:

  • Sharing Event means (a) the occurrence of any Event of Default under Section 7.1(e), (b) the declaration of the termination of any Commitment, or the acceleration of the maturity of any Loans, in each case in accordance with Section 7.2 or (iii) the failure of any Borrower to pay any principal of, or interest on, any Loans or any LOC Obligations on the Maturity Date.

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • Debt Incurrence Prepayment Event means any issuance or incurrence by the Borrower or any of the Restricted Subsidiaries of any Indebtedness (excluding any Indebtedness permitted to be issued or incurred under Section 10.1 other than Section 10.1(o) or, except to the extent accompanied by a corresponding reduction of the Revolving Credit Commitments Section 10.1(y)).

  • 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).

  • Qualifying Event means, during the Participant’s Services with the Company and its Affiliates, the Participant’s death or Disability.

  • MREL Disqualification Event means that, at any time, all or part of the outstanding nominal amount of Securities is or will be excluded fully or partially from the eligible liabilities available to meet the MREL Requirements provided that: (a) the exclusion of a Series of such Securities from the MREL Requirements due to the remaining maturity of such Securities being less than any period prescribed thereunder, does not constitute a MREL Disqualification Event; (b) the exclusion of all or some of a Series of Securities due to there being insufficient headroom for such Securities within a prescribed exception to the otherwise applicable general requirements for eligible liabilities does not constitute a MREL Disqualification Event; and (c) the exclusion of all or some of a Series of Securities as a result of such Securities being purchased by or on behalf of the Issuer or as a result of a purchase which is funded directly or indirectly by the Issuer, does not constitute a MREL Disqualification Event.

  • Delay Event means any event set out at Clause 5.19.4 [Delay Events].

  • Sequential Pay Event means any Event of Default with respect to an obligation to pay money due under the Mortgage Loan, any other Event of Default for which the Mortgage Loan is actually accelerated or any other Event of Default which causes the Mortgage Loan to become a Specially Serviced Mortgage Loan, or any bankruptcy or insolvency event that constitutes an Event of Default; provided, however, that unless the Servicer under the Servicing Agreement has notice or knowledge of such event at least ten (10) Business Days prior to the applicable distribution date, distributions will be made sequentially beginning on the subsequent distribution date; provided, further, that the aforementioned requirement of notice or knowledge will not apply in the case of distribution of the final proceeds of a liquidation or final disposition of the Mortgage Loan. A Sequential Pay Event shall no longer exist to the extent it has been cured (including any cure payment made by the Note B Holder (unless a Control Appraisal Period has occurred and is continuing) in accordance with Section 11) and shall not be deemed to exist to the extent the Note B Holder is exercising its cure rights under Section 11.

  • Qualified Equity Financing means the first sale (or series of related sales) by the Company of its Preferred Stock following the Date of Issuance from which the Company receives gross proceeds of not less than $1,000,000 (excluding the aggregate amount of securities converted into Preferred Stock in connection with such sale or series of related sales).

  • Adverse Rating Event With respect to any Class of Rated Certificates and any Rating Agency that has assigned a rating thereto, as of any date of determination, the qualification, downgrade or withdrawal of the rating then assigned to such Class of Rated Certificates by such Rating Agency (or the placement of such Class of Rated Certificates on “negative credit watch” status in contemplation of any such action with respect thereto).

  • Additional Disruption Event means any of Change in Law, Hedging Disruption and/or Increased Cost of Hedging.

  • Terminating Capital Transaction means any sale or other disposition of all or substantially all of the assets of the Partnership or a related series of transactions that, taken together, result in the sale or other disposition of all or substantially all of the assets of the Partnership.

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.