Reinvestment Right definition

Reinvestment Right shall have the meaning provided in Section 5.2(a)(iii).
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Reinvestment Right means the right of the Borrower and its Material Subsidiaries to, within 365 days after the receipt of any Net Proceeds from an Asset Sale, (a) apply such Net Proceeds, at the Borrower’s or such Material Subsidiary’s option to (i) acquire all or substantially all of the assets of, or a majority of the Voting Stock of, another Permitted Business, or Voting Stock of a Material Subsidiary engaged in a Permitted Business (other than any such Voting Stock owned or held by a Subsidiary), (ii) to make a capital expenditure, or (iii) to acquire other assets that are used or useful in a Permitted Business that have an expected useful life of one year or longer, or (b) enter into a legally binding agreement to apply such Net Proceeds as described in the preceding clause (a) within six months after such agreement is entered into and apply such Net Proceeds in accordance with the terms of such agreement or the provisions of clause (a) above; provided that if such agreement terminates the Borrower shall have until the earlier of (x) 90 days after the date of such termination and (y) six months after the date of the Asset Sale resulting in such Net Proceeds to effect such an application.
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Reinvestment Right shall have the meaning set forth in the definition of “Net Cash Proceeds.”
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Examples of Reinvestment Right in a sentence

  • Investor may exercise the Reinvestment Right by reinvesting up to the Reinvestment Amount in increments of $250,000.00 each (such that each reinvestment transaction is a multiple of $250,000.00) in one (1) transaction or multiple transactions.

  • Provision/Basket/Ratio 2023 Credit Agreement 2025 Indentures Agreed Terms2 Reinvestment Right Proceeds may be use to acquire, maintain, develop, construct, improve, upgrade or repair assets (other than current assets) used in or useful in the Company’s or Restricted Subsidiary’s business or to make a Future Acquisition or other Investment to acquire assets.

  • Within twenty (20) days after DFG provides such information, the Shareholder shall provide written notice of whether it intends to exercise the Reinvestment Right and the dollar amount of the Shareholder's investment.

  • So I think it is appropriate to slow this down, send it back and let our Trustees have all the information they need if it would get to this point again, you know, especially with newly elected folks coming aboard, get those parties involved to understand what this project's looking like going forward.

  • The Shareholder shall have one opportunity to exercise the Reinvestment Right.

  • Id. However, as the Debtors will establish, the proceeds of the PNW Sale attributable to Northwest are subject to the Reinvestment Right under the Credit Agreement and therefore willnot be dividends and instead will be used to acquire, maintain, develop, construct, improve, upgrade, or repair the Debtors’ assets.

  • The Debt Sweep provision will not be subject to a Reinvestment Right.

  • Lender may exercise the Reinvestment Right by reinvesting up to the Reinvestment Amount in increments of $250,000.00 each (such that each reinvestment transaction is a multiple of $250,000.00) in one (1) transaction or multiple transactions.

  • The Shareholder acknowledges that the Interests have not been registered under the Securities Act and understands that the Interests he receives, including but not limited to the Put Interests, the Earn-Out Interests and the Interests received from the exercise of the Reinvestment Right must be held indefinitely unless they are subsequently registered under the Securities Act or such sale is permitted pursuant to an available exemption from such registration requirement.

  • Company agrees to seek stockholder approval of the Note and the issuance of Conversion Shares (as defined in the Note) under the Note and the Reinvestment Right (as defined in the Purchase Agreement) in excess of the Exchange Cap (the “Approval”) within 120 days of the Purchase Price Date.


More Definitions of Reinvestment Right

Reinvestment Right means the right of the Borrower and its Subsidiaries to, within 90 days after the receipt of any Net Proceeds from an Asset Sale, apply such Net Proceeds, at the Borrower’s or such Subsidiary’s option, to (i) make a capital expenditure or (ii) acquire other assets that are used or useful in a Permitted Business that have an expected useful life of one year or longer.
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Reinvestment Right defined in Section 5.14.
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Related to Reinvestment Right

  • Reinvestment Notice a written notice executed by a Responsible Officer stating that no Event of Default has occurred and is continuing and that the Borrower (directly or indirectly through a Subsidiary) intends and expects to use all or a specified portion of the Net Cash Proceeds of an Asset Sale or Recovery Event to acquire or repair assets useful in its business.

  • Reinvestment Event any Asset Sale or Recovery Event in respect of which the Borrower has delivered a Reinvestment Notice.

  • Reinvestment has the meaning set forth in Section 2.2.

  • Reinvestment Agreement means a guaranteed reinvestment agreement from a bank, insurance company or other corporation or entity, in each case, at the date of such acquisition having a credit rating of at least A-1 from S&P and at least P-1 from Moody’s; provided that such agreement provides that it is terminable by the purchaser, without penalty, if the rating assigned to such agreement by either S&P or Xxxxx’x is at any time lower than such ratings.

  • Reinvestment Deferred Amount with respect to any Reinvestment Event, the aggregate Net Cash Proceeds received by the Borrower or any of its Subsidiaries in connection therewith that are not applied to prepay the Loans pursuant to Section 2.10(b) as a result of the delivery of a Reinvestment Notice.

  • Reinvestment Period means 15 months following the date of receipt of Net Cash Proceeds of an Asset Sale Prepayment Event, Casualty Event or Permitted Sale Leaseback.

  • Reinvestment Plan means the distribution reinvestment plan for the ETFs, as described under the heading “Distribution Policy – Distribution Reinvestment Plan”;

  • Investment Option means any of the guaranteed investments and variable investment funds available under the Plan.

  • Adjustment Right means any right granted with respect to any securities issued in connection with, or with respect to, any issuance or sale (or deemed issuance or sale in accordance with Section 2) of shares of Common Stock (other than rights of the type described in Section 3 and 4 hereof) that could result in a decrease in the net consideration received by the Company in connection with, or with respect to, such securities (including, without limitation, any cash settlement rights, cash adjustment or other similar rights).

  • Dividend Reinvestment Acquisition means an acquisition of Voting Shares of any class pursuant to a Dividend Reinvestment Plan;

  • Reinvestment Agreements One or more reinvestment agreements, acceptable to the Rating Agencies, from a bank, insurance company or other corporation or entity (including the Trustee).

  • Deferred Amount With respect to any Distribution Date and each Class of the Subordinate Certificates, the amount by which (x) the aggregate of Applied Loss Amounts previously applied in reduction of the Class Principal Amount thereof exceeds (y) the sum of (1) the aggregate of amounts previously reimbursed in respect thereof and (2) the amount by which the Class Principal Amount of such Class has been increased due to any Subsequent Recovery.

  • Reinvestment Prepayment Date with respect to any Reinvestment Event, the earlier of (a) the date occurring twelve months after such Reinvestment Event and (b) the date on which the Borrower shall have determined not to, or shall have otherwise ceased to, acquire or repair assets useful in the Borrower’s business with all or any portion of the relevant Reinvestment Deferred Amount.

  • Reinvestment Prepayment Amount with respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any amount expended prior to the relevant Reinvestment Prepayment Date to acquire or repair assets useful in the Borrower’s business.

  • Deferred Share means a Share which by its terms of issue is a deferred share as defined in the Statutes and includes a permanent interest bearing share and a Core Capital Deferred Share;

  • Interest Option means LIBOR or the Reference Rate.

  • Management Shares means a management share in the capital of the ICAV which shall have the right to receive an amount not to exceed the consideration period for such Management Share.

  • Replacement Option has the meaning ascribed thereto in Section 2.2(c).

  • Alternative Investment Vehicle means an entity created in accordance with the Operative Documents of a Borrower to make investments and that has the right to call on Capital Commitments directly from Investors.

  • Reinvestment Rate means .25% (one-fourth of one percent) plus the arithmetic mean of the yields under the respective headings “This Week” and “Last Week” published in the Statistical Release under the caption “Treasury Constant Maturities” for the maturity (rounded to the nearest month) corresponding to the remaining life to maturity, as of the payment date of the principal being redeemed or paid. If no maturity exactly corresponds to such maturity, yields for the two published maturities most closely corresponding to such maturity shall be calculated pursuant to the immediately preceding sentence and the Reinvestment Rate shall be interpolated or extrapolated from such yields on a straight-line basis, rounding in each of such relevant periods to the nearest month. For the purposes of calculating the Reinvestment Rate, the most recent Statistical Release published prior to the date of determination of the Make-Whole Amount shall be used.

  • Incentive Shares means Shares awarded pursuant to the provisions of Article 12.

  • Deferred Purchase Price shall have the meaning set forth in Section 2(a).

  • Delivery ex stock means immediate delivery directly from stock actually on hand.

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

  • Deferred Consideration shall have the meaning ascribed to such term in Section 4(d).

  • Accelerated Purchase Share Amount means, with respect to an Accelerated Purchase made pursuant to Section 2(b) hereof, the number of Purchase Shares directed by the Company to be purchased by the Investor in an Accelerated Purchase Notice, which number of Purchase Shares shall not exceed the lesser of (i) 300% of the number of Purchase Shares directed by the Company to be purchased by the Investor pursuant to the corresponding Regular Purchase Notice for the corresponding Regular Purchase referred to in clause (i) of the second sentence of Section 2(b) hereof (subject to the Purchase Share limitations contained in Section 2(a) hereof) and (ii) an amount equal to (A) the Accelerated Purchase Share Percentage multiplied by (B) the total number (or volume) of shares of Common Stock traded on the Principal Market during the period on the applicable Accelerated Purchase Date beginning at the Accelerated Purchase Commencement Time for such Accelerated Purchase and ending at the Accelerated Purchase Termination Time for such Accelerated Purchase.