Qualified Preferred Equity Interests definition

Qualified Preferred Equity Interests means Preferred Equity Interests of the Company that do not require any cash payment (including in respect of redemptions or repurchases), other than in respect of cash dividends, before the date that is six months after the Latest Maturity Date.

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Qualified Preferred Equity Interests means preferred Equity Interests that (a) have no mandatory redemption feature exercisable on a date earlier than 180 days after the Maturity Date, (b) have no requirements for the payment of dividends or other distributions in cash on a date earlier than 180 days after the Scheduled Maturity Date for the Term Facility and (c) contain covenants, if any, no more restrictive than those customarily found in a high-yield debt offering.

Qualified Preferred Equity Interests means preferred Equity Interests that (a) have no required redemption feature at any time, (b) do not require or permit the payment of dividends or other distributions in cash at any time, (c) contain no covenants of any kind or nature and (d) are not convertible into any Equity Interests other than shares of common stock of the Borrower.

Examples of Qualified Preferred Equity Interests in a sentence

The Company will not, nor will it permit any Subsidiary to, issue any Preferred Equity Interests or other preferred Equity Interests, other than (i) Qualified Preferred Equity Interests of the Company and (ii) Preferred Equity Interests of a Subsidiary issued to the Company or a Subsidiary Guarantor or, in the case of a Subsidiary that is not a Subsidiary Guarantor, to another Subsidiary that is not a Subsidiary Guarantor.

More Definitions of Qualified Preferred Equity Interests

Qualified Preferred Equity Interests means preferred stock in the capital of the Company that by its terms, upon the death of the holder thereof, is mandatorily redeemable by the Company at the option of (a) the estate of such holder or (b) other fiduciary acting for the benefit of such beneficial owner.

Qualified Preferred Equity Interests means preferred Equity Interests that (a) have no mandatory redemption feature exercisable on a date earlier than (i) 180 days after the Tranche A Scheduled Maturity Date, if Tranche A Term Loans are outstanding or (ii) 180 days after the Tranche B Scheduled Maturity Date, if no Tranche A Term Loans are outstanding , (b) have no requirements for the payment of dividends or other distributions in cash on a date earlier than (i) 180 days after the Tranche A Scheduled Maturity Date, if Tranche A Term Loans are outstanding or (ii) 180 days after the Tranche B Scheduled Maturity Date, if no Tranche A Term Loans are outstanding and (c) contain covenants, if any, no more restrictive than those customarily found in a high-yield debt offering.

Qualified Preferred Equity Interests means preferred equity membership interests in the Parent Guarantor, which preferred equity membership interests (i) are in addition to any Additional Equity Contributions required under the terms of the Agreement to Contribute Capital, (ii) provide for the payment of dividends and the making of distributions solely at the discretion of the board of directors of the Parent Guarantor or upon liquidation of the Parent Guarantor, (iii) do not require redemption, purchase or otherwise retirement or extinguishment at a fixed or determinable date (whether by operation of a sinking fund or otherwise), at the holder’s or member’s option, or upon the occurrence of any event other than liquidation of the Parent Guarantor, and (iv) otherwise does not contain any terms or conditions that would adversely effect the Agent’s or the Lender’s rights under the Loan Documents or such Loan Party’s capacity or ability to meet its obligations under this Agreement or any Loan Document.