Reduction Event definition

Reduction Event means any of the following:

Reduction Event means, in relation to Notes that are Subordinated Notes, that a resolution has been passed at a general meeting of the Issuer’s shareholders in accordance with Danish law to reduce, inter alia and in the order described in Condition 10.3 (Effect), the Outstanding Principal Amounts and any accrued but unpaid interest and following the occurrence of all of the following circumstances:

Reduction Event means any Specified Asset Sale, Property Loss Event, Specified Debt Financing or Specified Equity Issuance.

Examples of Reduction Event in a sentence

• With respect to any Serviced Loan for which an Appraisal Reduction Event has occurred and still exists, the Special Servicer shall obtain annual letter updates to any updated Appraisal.

• With respect to Mortgage Loans for which an Appraisal Reduction Event has occurred and still exists, the Special Servicer shall obtain annual letter updates to any updated Appraisal.

• Following notification from the Special Servicer, the Servicer and the Trustee shall be deemed to have delivered notice of any such Appraisal Reduction Event and any related Appraisal Reduction Amount if the Servicer includes such event and/or amount in its monthly servicer statements provided to the Other Servicer.

• No Advance Rate Reduction Event, Servicer Termination Event, Event of Default or Funding Interruption Event shall then be occurring.

• Following notification from the Special Servicer of any Appraisal Reduction Amount, the Servicer and the Trustee shall notify the Other Servicer and Other Trustee of the existence of an Appraisal Reduction Event and any related Appraisal Reduction Amount.

More Definitions of Reduction Event

Reduction Event means:

Reduction Event has the meaning set forth in Section 3.2 of the Servicing Agreement.

Reduction Event is (i) a PCS Disposition, (ii) a Capital Markets Transaction, (iii) a Designated Asset Disposition, (iv) a Senior Collateral Disposition, (v) other Asset Sales or (vi) receipt of other Casualty/Condemnation Proceeds.

Reduction Event means any of the following occurring on or after the date hereof:

Reduction Event has the meaning given to such term in Section 6.02.

Reduction Event means (i) any Asset Sale (other than (x) a sale of Margin Stock or (y) any other Asset Sale, the Net Cash Proceeds of which, when aggregated with the Net Cash Proceeds of any related Asset Sale, do not exceed $10,000,000), (ii) any Debt Incurrence, (iii) any Equity Issuance, (iv) the LCR Recapitalization or (v) the receipt by the Borrower or any Subsidiary of Major Casualty Proceeds, provided that with respect to any such Major Casualty Proceeds, so long as no Event of Default has occurred and is continuing, the receipt thereof shall not give rise to a Reduction Event to the extent that (x) within 180 days after receipt of such Major Casualty Proceeds, the Borrower or a Subsidiary shall have committed to expend, and (y) within 540 days after receipt of such Major Casualty Proceeds (or within such greater number of days as may be reasonably required to complete such restoration or replacement), the Borrower or a Subsidiary shall have actually expended such Major Casualty Proceeds for the restoration or replacement of the asset in respect of which such Major Casualty Proceeds were received, so that the Reduction Event, if any, occurring by reason of the receipt of such Material Casualty Proceeds shall be deemed to occur on such 180th or 540th (or later) day following receipt thereof as to the amount thereof not committed or expended as specified above. The description of any transaction as falling within the above definition does not affect any limitation on such transaction imposed by Article 5 of this Agreement.

Reduction Event means (i) any Asset Sale, to the extent the Net Cash Proceeds of such Asset Sale exceed $100,000,000, (ii) any Debt Incurrence or (iii) any Equity Issuance.