Reverse Trigger Event definition

Reverse Trigger Event means the transfer of Equity Interests of any Restricted Subsidiary or any Gaming Facility from trust or other similar arrangement to Borrower or any of its Restricted Subsidiaries from time to time.

Reverse Trigger Event means after the occurrence of a Trigger Event, the transfer of the shares of the capital stock of Empress Casino Corporation or the Equity Interests of any other Person that was previously a Restricted Subsidiary to the Company or any of its Restricted Subsidiaries pursuant to the terms of any Trust Agreement.

Reverse Trigger Event means the transfer of Equity Interests of any Restricted Subsidiary or any Gaming/Racing Facility from trust or other similar arrangement to Borrower or any of its Restricted Subsidiaries from time to time.

Examples of Reverse Trigger Event in a sentence

• An Event of Default arising under SECTION 6.01(q) shall be deemed to no longer be continuing upon the occurrence of a Reverse Trigger Event.

• An Event of Default arising under Section 6.01(p) shall be deemed to no longer be continuing upon the occurrence of a Reverse Trigger Event.

• Argosy shall notify the Trustee immediately on the occurrence of a Trigger Event or a Reverse Trigger Event, as those terms are defined in the Transfer of Ownership Agreement, and shall cooperate with all necessary parties to accomplish the transfer of the Trust Property to the Trustee.

• Upon the occurrence of a Reverse Trigger Event, Argosy shall issue an Argosy Certificate directing the Trustee to, not later than the following business day, transfer the Trust Property to the Agent or, with the written consent of the Agent, to Argosy or an assignee of Argosy to which Argosy's rights under this Agreement are assigned (in accordance with SECTION 9.2 of this Agreement).

• If no Sale (including a Sale described in SECTION 4.6 of this Agreement) or Reverse Trigger Event (in accordance with SECTION 4.8 of this Agreement) has occurred within one (1) year after the Trust Property has been placed in trust pursuant to the Trust Agreement, Empress shall immediately relinquish its interest in the Owner's License for the operation of the Empress Casino and the Owner's License shall immediately revert to the Board.

More Definitions of Reverse Trigger Event

Reverse Trigger Event means after the occurrence of a Trigger Event, the transfer of the shares of the capital stock of Empress Casino Corporation to the Company or a Restricted Subsidiary of the Company pursuant to the terms of the Trust Agreements.

Reverse Trigger Event means the occurrence, after the occurrence of a Trigger Event, of (a) a final, non-appealable judicial ruling, (b) a legislative amendment to the Act or (c) a corporate restructuring by Argosy as provided in SECTION 4.6 of this Agreement, if, and only to the extent that, in any such case, upon the termination of the trust under the Trust Agreement and the transfer of the Trust Property back to Argosy, as determined by the Board (without prejudice and subject to judicial review of such determination, if any), such termination and transfer would not cause a violation of the Act as then applicable after giving effect to such ruling, amendment or restructuring.

Reverse Trigger Event means the transfer of Equity Interests of any Restricted Subsidiary or any Gaming Facility from trust or other similar arrangement to Borrower or any of its Restricted Subsidiaries from time to time. “Revocation” has the meaning set forth in Section 9.12(b). “Revolving Availability Period” shall mean, (i) with respect to the Revolving Commitments under the Closing Date Revolving Facility, the period from and including the Closing Date to but excluding the earlier of the applicable R/C Maturity Date and the date of termination of such Revolving Commitments, and (ii) with respect to any other Tranche of Revolving Commitments, the period from and including the date such Tranche of Revolving Commitments is established to but excluding the earlier of the applicable R/C Maturity Date and the date of termination of such Tranche of Revolving Commitments. Unless the context otherwise requires, references in this Agreement to the Revolving Availability Period shall mean with respect to each Tranche of Revolving Commitments, the Revolving Availability Period applicable to such Tranche. “Revolving Borrowing” shall mean a Borrowing comprised of Revolving Loans. “Revolving Commitment” shall mean, for each Revolving Lender, the obligation of such Lender to make Revolving Loans in an aggregate principal amount at any one time outstanding up to but not exceeding the amount set opposite the name of such Lender on Annex A-1 under the caption “Revolving Commitment,” or in the Assignment Agreement pursuant to which such Lender assumed its Revolving Commitment or in any Refinancing

Reverse Trigger Event shall have the meaning set forth in the Transfer Agreement.