Redetermination Event definition

Redetermination Event means an event identified as such by the Borrower (or the Servicer on its behalf on a Redetermination Request).
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Redetermination Event has the meaning set forth in Section 4.3.
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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or that would cause a Credit Party to lose a material right thereunder and such Material Operating Agreement has not been replaced by (or arrangements reasonably satisfactory to the Administrative Agent have not been made to replace such Material Operating Agreement with) a similar Material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.
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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.

  • Notwithstanding anything else to the contrary in this Agreement, in any case in which amounts are re-determined 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.

  • The effective date of the redetermined Borrowing Base and Threshold Amount (if applicable) shall be established in accordance with Section 1.04(b) hereof, provided that no Reserve Evaluation Report shall be required for a determination of the Borrowing Base following a Redetermination Event referred to in paragraph (c), (d) and (e) of the definition of such term in Section 1.01 hereof.

  • Notwithstanding the foregoing, the Borrower shall immediately apply 100% of the Net Proceeds of any Redetermination Event described in clauses (a), (b) (c) or (d) of the definition thereof to prepay outstanding Loans and then cash collateralize the Letter of Credit Outstandings.

  • Sec 11 Am 2001 No 23, Sch 1 [6]; 2005 No 101, Sch 1 [17]–[19]; 2013 No 86, Sch 1 [3] [10]; 2018 No 27, Sch 1 [1].

  • Notwithstanding the foregoing, the Borrower shall immediately apply 100% of the Net Proceeds of any Redetermination Event described in clauses (a), (b), (c) or (d) of the definition thereof to prepay outstanding Loans and then cash collateralize the Letter of Credit Outstandings.

  • 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.

  • In determining the Borrowing Base and the Threshold Amount pursuant to this Section 1.04(c), the Administrative Agent shall (with the approval of the Lenders) be entitled to give effect to the occurrence of any events or circumstances giving rise to or constituting the relevant Redetermination Event.

  • Upon the occurrence during the Initial Period of a Redetermination Event described in clauses (a), (b), (c) or (d) of the definition thereof, the Borrowing Base shall be automatically reduced by an amount equal to the Net Proceeds of that Redetermination Event and the Borrower shall promptly provide the Administrative Agent and the Lenders notice of such a Redetermination Event and the Net Proceeds realized therefrom (describing the same in reasonable detail).


More Definitions of Redetermination Event

Redetermination Event the occurrence of the following events during the Initial Period:
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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.
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Redetermination Event means the occurrence of any of the following after the date of this Agreement:
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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.
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Redetermination Event. Shall have the meaning ascribed to such term in Section 3.06(a). ---------------
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Related to Redetermination Event

  • Redetermination Date means, with respect to any Scheduled Redetermination or any Interim Redetermination, the date that the redetermined Borrowing Base related thereto becomes effective pursuant to Section 2.07(d).

  • Redetermination means any Scheduled Redetermination or Special Redetermination.

  • Interim Redetermination Date means the date on which a Borrowing Base that has been redetermined pursuant to an Interim Redetermination becomes effective as provided in Section 2.07(d).

  • Valuation Event means an event in which the Company at any time during a Valuation Period takes any of the following actions:

  • Reduction Event means any of the following:

  • Load Reduction Event means a reduction in demand by a Member or Special Member for the purpose of participating in the PJM Interchange Energy Market.

  • Scheduled Redetermination Date means the date on which a Borrowing Base that has been redetermined pursuant to a Scheduled Redetermination becomes effective as provided in Section 2.07(d).

  • Revaluation Event means an event that results in adjustment of the Carrying Value of each Partnership property pursuant to Section 5.5(d).

  • Extension Determination Date means, in respect of a Series of Covered Bonds, the date falling two Business Days after the expiry of seven days from (and including) the Final Maturity Date of such Covered Bonds.

  • Interest Determination Date means, with respect to a Rate of Interest and Interest Accrual Period, the date specified as such hereon or, if none is so specified, (i) the first day of such Interest Accrual Period if the Specified Currency is Sterling or (ii) the day falling two Business Days in London for the Specified Currency prior to the first day of such Interest Accrual Period if the Specified Currency is neither Sterling nor euro or (iii) the day falling two TARGET Business Days prior to the first day of such Interest Accrual Period if the Specified Currency is euro.

  • Event Determination Date means either:

  • SOFR Determination Date has the meaning specified in the definition of “Daily Simple SOFR”.

  • LIBOR Determination Date With respect to any Interest Accrual Period for the LIBOR Certificates, the second London Business Day preceding the commencement of such Interest Accrual Period.

  • Interim Redetermination has the meaning assigned such term in Section 2.07(b).

  • Reset Determination Date means, in respect of the First Reset Period, the second Business Day prior to the First Reset Date and, in respect of each Subsequent Reset Period thereafter, the second Business Day prior to the first day of each such Subsequent Reset Period;

  • Reference Interest Rate Transition Event means the occurrence of one or more of the following events with respect to the then-current Reference Interest Rate:

  • LIBOR Interest Determination Date means the second LIBOR Business Day preceding each LIBOR Rate Reset Date.

  • SOFR Interest Determination Date means the day that is the number of U.S. Government Securities Business Days prior to the Interest Payment Date in respect of the relevant Interest Period, as specified in the applicable Pricing Supplement.In addition to defining the relevant Interest Periods and Interest Payment Dates, the applicable Pricing Supplement shall specify and describe, as applicable, any relevant interest commencement date, interest period end date, interest determination date, index maturity, rate cut-off date, any other terms relating to the particular method of calculating interest on the Compound SOFR Note (including any applicable payment delay, lockout or suspension period, lookback or observation shift) and any other terms applicable specifically to such Compound SOFR Note.Average SOFR NotesUnless otherwise provided for or modified in the applicable Pricing Supplement, Average SOFR Notes will bear interest at a rate per annum equal to Average SOFR (as defined below) plus the Spread.With respect to any Interest Period, unless otherwise specified or modified in the applicable Pricing Supplement, “Average SOFR” will be calculated by the Calculation Agent on each SOFR Interest Determination Date (as defined below) as follows (with the resulting percentage being rounded, if necessary, to the nearest one hundred-thousandth of a percentage point, with 0.000005 being rounded upwards to 0.00001): 0 Where:

  • Appraisal Reduction Event With respect to any Serviced Loan, the earliest of (i) the date on which such Serviced Loan becomes a Modified Asset, (ii) the date on which such Serviced Loan is 60 days or more delinquent in respect of any Monthly Payment, which does not include a Balloon Payment, (iii) solely in the case of a delinquent Balloon Payment, (A) the date occurring 60 days after the date on which such Balloon Payment was due (except as described in the immediately following clause (B)) or (B) if the related Mortgagor has delivered to the Master Servicer (who shall promptly deliver a copy thereof to the Special Servicer) or the Special Servicer (who shall promptly deliver a copy thereof to the Master Servicer) a refinancing commitment acceptable to the Special Servicer prior to the date 60 days after the Balloon Payment was due, the date occurring 120 days after the date on which the Balloon Payment was due (or such shorter period beyond the date on which that Balloon Payment was due during which the refinancing is scheduled to occur), (iv) the date on which the related Mortgaged Property has become an REO Property, (v) a receiver or similar official is appointed and continues for 60 days in such capacity in respect of the related Mortgaged Property, (vi) 60 days after the related Mortgagor is subject to a bankruptcy, insolvency or similar proceedings, which, in the case of an involuntary bankruptcy, insolvency or similar proceeding, is not dismissed within those 60 days, or (vii) the date on which such Serviced Loan remains outstanding five (5) years following any extension of its maturity date pursuant to Section 3.24 of this Agreement. If an Appraisal Reduction Event occurs with respect to any Serviced Mortgage Loan that is part of a Serviced Loan Combination, then an Appraisal Reduction Event shall be deemed to have occurred with respect to the related Serviced Companion Loan(s). If an Appraisal Reduction Event occurs with respect to any Serviced Companion Loan that is part of a Serviced Loan Combination, then an Appraisal Reduction Event shall be deemed to have occurred with respect to the related Serviced Mortgage Loan and any other Serviced Companion Loan(s) included as part of that Serviced Loan Combination. No Appraisal Reduction Event may occur at any time when the aggregate Certificate Balance of all Classes of Principal Balance Certificates (other than the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates) has been reduced to zero. The Special Servicer shall notify the Master Servicer and the Master Servicer shall notify the Special Servicer, as applicable, promptly upon the occurrence of any of the foregoing events.

  • Reset Interest Determination Date means, in respect of any Reset Period, the day falling two Business Days prior to the beginning of the relevant Reset Period;

  • Swap Termination Event means any event defined as a “Swap Termination Event” in the Interest Rate Swap Agreement.

  • Scheduled Redetermination has the meaning assigned such term in Section 2.07(b).

  • Accounting Restatement Determination Date means the earliest to occur of: (a) the date the Board, a committee of the Board, or one or more of the officers of the Company authorized to take such action if Board action is not required, concludes, or reasonably should have concluded, that the Company is required to prepare an Accounting Restatement; and (b) the date a court, regulator, or other legally authorized body directs the Company to prepare an Accounting Restatement.

  • Benchmark Transition Event means the occurrence of one or more of the following events with respect to the then-current Benchmark:

  • Benchmark Determination Date means (a) if the Benchmark is LIBOR, the LIBOR Determination Date, (b) if the Benchmark is Term SOFR, the date that is two Business Days before the first day of the applicable Accrual Period, (c) if the Benchmark is Compounded SOFR, the date that is five Business Days before the last day of the applicable Accrual Period and (d) if the Benchmark is any other rate, the date determined by the Trust according to Section 2.16 of the Indenture.

  • Servicer Termination Event shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous concept under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.