Redetermination Event definition

Redetermination Event means an event identified as such by the Borrower (or the Servicer on its behalf on a Redetermination Request).

Redetermination Event has the meaning set forth in Section 4.3.

Redetermination Event means (a) the occurrence of any payment default or other default under any Material Operating Agreement that would cause such Material Operating Agreement to be terminated or that would cause a Credit Party to lose a material right thereunder and such Material Operating Agreement has not been replaced by (or arrangements reasonably satisfactory to the Administrative Agent have not been made to replace such Material Operating Agreement with) a similar Material Operating Agreement reasonably acceptable to the Administrative Agent, or (b) any cancellation, termination, abandonment or transfer of any farmout agreement, or any material rights of the applicable Credit Party thereunder (other than a transfer to another Credit Party), to the extent that such cancellation, termination, abandonment or transfer, individually or in the aggregate, would cause the Credit Parties to cease to have the contractual right to earn an interest in, or to get an assignment of already earned interest in, oil and gas reserves constituting 10% or more of the Engineered Value of all proved, undeveloped reserves of the Credit Parties as set forth in the most recently delivered Reserve Report.

Examples of Redetermination Event in a sentence

• In addition to any Interim Redetermination described in the immediately preceding sentence, upon the occurrence and during the continuance of any Redetermination Event, the Administrative Agent or the Required Lenders may, by notifying the Borrower thereof, elect to cause an additional redetermination of the Borrowing Base.

• Notwithstanding anything else to the contrary in this Agreement, in any case in which amounts are redetermined pursuant to a particular event described in the second sentence of this Section 4.3 (a “Redetermination Event”), the parties will be obligated to make additional payments otherwise owed under this Section 4.3 only if the amount of additional payment resulting from such Redetermination Event exceeds $50,000.

• Any determination of the Borrowing Base and Threshold Amount following a Redetermination Event referred to in paragraph (e) of the definition of such term in Section 1.01 hereof shall be made by the Administrative Agent and the Lenders in their sole discretion based on such factors as they deem relevant using the criteria generally employed by the Administrative Agent and each such Lender, respectively, on the date of determination with respect to borrowers similar to the Borrower.

• External Distributing shall amend the 2014 Joint Federal Return and file a claim for refund for such Tax Benefit, which is a Redetermination Event pursuant to Section 4.3. External Distributing shall pay External SpinCo the amount of such refund within thirty day of receipt, provided the refund exceeds $50,000.

• Notwithstanding anything herein to the contrary, upon the occurrence of any of the events specified in clauses (c), (d) and (e) of the definition of Redetermination Event, if the Borrower has not requested a redetermination of the Borrower Base and Threshold Amount, as provided for above, the Borrowing Base and Threshold Amount shall automatically be reduced only by 100% (but not below zero) of the Net Available Proceeds received as a result of such Redetermination Event.

More Definitions of Redetermination Event

Redetermination Event means (i) any Final Determination or (ii) any payment of any amount (other than the payment of an amount pursuant to Section 5.2 of this Appendix D) by the Owners or the Interested Persons which is treated by the parties for Tax purposes as an adjustment to aggregate consideration paid or delivered pursuant to the D&F Transaction Agreements and the Transaction Documents or the total value of the assets received by F&F or any F&F Affiliate or contributed to Tastemaker in connection with a Fries Withdrawal pursuant to Section 7 of this Appendix D and which exceeds $1 million, in each case so long as the Final Determination described in clause (i) or the payment described in clause (ii) results in a Post-Determination Recomputed Baseline which differs from the corresponding Pre-Determination Recomputed Baseline.

Redetermination Event means the occurrence of any of the following after the date of this Agreement:

Redetermination Event the occurrence of the following events during the Initial Period: (a) the sale or issuance of Capital Stock of the Borrower or any of its Subsidiaries, in one transaction or a series of transactions; (b) the incurrence of Subordinated Indebtedness by the Borrower, in one transaction or a series of transactions; (c) any sale, issuance, conveyance, transfer, lease or other disposition (including, without limitation, through a sale and leaseback transaction or as a result of casualty or condemnation) by the Borrower or any Subsidiary (a 21 16

Redetermination Event means (a) the occurrence of any payment default or other default under any Material Operating Agreement that would cause such Material Operating Agreement to be terminated or that would cause a Credit Party to lose a material right thereunder and such Material Operating Agreement has not been replaced by (or arrangements reasonably satisfactory to the Administrative Agent have not been made to replace such Material Operating Agreement with) a similar Material Operating Agreement reasonably acceptable to the Administrative Agent, (b) any Swap Event, or (c) any cancellation, termination, abandonment or transfer of any farmout agreement, or any material rights of the applicable Credit Party thereunder (other than a transfer to another Credit Party), to the extent that such cancellation, termination, abandonment or transfer, individually or in the aggregate, would cause the Credit Parties to cease to have the contractual right to earn an interest in, or to get an assignment of already earned interest in, oil and gas reserves constituting 10% or more of the Engineered Value of all proved, undeveloped reserves of the Credit Parties as set forth in the most recently delivered Reserve Report.

Redetermination Event. Shall have the meaning ascribed to such term in Section 3.06(a). ---------------

Redetermination Event means the occurrence of any of the following events during the Initial Period: (a) the sale or issuance of equity securities of the Borrower, (b) the incurrence of subordinated Debt by the Borrower or (c) any sale or other disposition (including as a result of casualty or condemnation) of any of the Oil and Gas Properties of the Borrower or any Subsidiary other than as permitted by Section 9.15. Such events in clauses (b) and (c) shall still require the consent of the Majority Lenders, if otherwise in violation of the other terms of this Agreement.

Redetermination Event the occurrence of the following events during the Initial Period: (a) the sale or issuance of Capital Stock of the Borrower or any of its Subsidiaries for cash, in one transaction or a series of transactions; (b) the incurrence of Subordinated Indebtedness by the Borrower, in one transaction or a series of transactions; (c) any sale, issuance, conveyance, transfer, lease or other disposition (including, without limitation, through a sale and leaseback transaction or as a result of casualty or condemnation) by the Borrower or any Subsidiary (a "DISPOSITION"), in one transaction or a series of transactions, of any Oil and Gas Properties (other than the Pennsylvania Properties) to any Person (other than to the Borrower or any of its Subsidiaries) if such Disposition (or Dispositions) has a sale price in excess of $250,000 in the aggregate; (d) any Disposition, in one transaction or a series of transactions, of Property not constituting Oil and Gas Properties if such Disposition has a sale price in excess $250,000 (provided that this clause (d) shall not include the Disposition of equipment used in the ordinary course of the Oil and Gas Business if the proceeds of such Disposition are used, within 60 days, to purchase replacement equipment); or (e) the acquisition of Oil and Gas Properties having Proved Reserves with a value in excess of $50,000,000 in the aggregate, whether by acquisition of stock or assets or by merger (an "OIL AND GAS ACQUISITION"); PROVIDED that the definition of "Redetermination Event" shall not include the Disposition of Oil and Gas Properties which are not included in the Borrowing Base (determined by reference to the most recent Reserve Report) pursuant to farm-ins and farm-outs and transfers of royalty interests, overriding royalty interests, net revenue interests and other similar transfers, all pursuant to exploration and development activity in the ordinary course of business of the Borrower and its Subsidiaries, including the Disposition of seismic data to the extent that an interest is retained in such data by the Borrower or its Subsidiaries.