Reversion Event definition

Reversion Event shall exist in the event that Purchaser, itself or through one or more of its Affiliates, licensees and sublicensees, (i) fails to satisfy the NDA Requirement, or (ii) in the reasonable judgment of APIL, fails to comply with its Commercially Reasonable Efforts requirements under Section 3.1 of this Exhibit E; provided that, any such failure is not attributable to the material breach by APIL or any of its Affiliates of any of the Ancillary Agreements, which material breach was noticed by Purchaser prior to its receipt of a Reversion Notice from APIL under this Section 4.1.

Reversion Event. Section 3.3(a)(i)

Reversion Event means any or all of the following events:

Examples of Reversion Event in a sentence

• If a Reversion Event occurs, the Parties agree to work in good faith to determine the impact of such Reversion Event and the best then applicable index to be used for the Covered Transactions; provided, however, that if the Parties are not able to timely agree on the applicable index, then the ICE Day-Ahead Power Price for the SP15 Zone or NP15 Zone (as appropriate) shall be the applicable index until the Reversion Event ceases and MRTU is re-implemented.

• If a Reversion Event has not occurred prior to the recording of a construction mortgage evidencing Developer’s Financing, then the Reversionary Right to the Development Property shall terminate and be of no further force and effect.

• Upon the occurrence of a Reversion Event, the DDA shall provide the Developer with written notice (“Reversion Default Notice”) that it intends to record a notice with the Oakland County Register of Deeds (which notice shall be in accordance with MCLA § 565.451(a)), confirming the Reversion of the Development Parcel to the DDA due to the Developer’s Default (“Reversion Notice”), unless the Developer’s Default is cured within ten (10) business days after the Reversion Default Notice.

• To exercise the City’s Reversionary Right described herein, the City must deliver written notice to Developer (or its permitted successors, assigns or transferees) within ninety (90) days of the Reversion Event, and record such notice with the County Recorder of deeds, in which case the title to the Development Property shall automatically revert to the City, subject only to the Permitted Encumbrances as of the date of the recording of the notice.

• Upon a Reversion Event, the City may exercise the Reversionary Right to reacquire title to the Development Property.

More Definitions of Reversion Event

Reversion Event means the occurrence of any one or more of the following after the closing of the purchase of the Property upon a REIT Option Event or, in the event of a transfer of the Option to a Permitted Transferee, upon the giving of notice pursuant to Section 33.06(b) and prior to an IPO: (1) the contemplated REIT fails to sell common shares of the REIT to the public in an IPO before the earlier to occur of the one- year anniversary of the closing of the purchase transaction or the August 15 occurring immediately subsequent to the calendar year in which the purchase of the Property is closed; (2) either Xxxxxx or its Affiliates fail to own or control the Tenant in proportions at least equal to such proportions as they own or control as of the date of this Lease; (3) the Partners (or their “Permitted Transferees”, as such term is defined under the Limited Partnership Agreement) comprising Tenant cease to maintain their Percentage Interests in the Tenant under this Lease in the same proportions as they exist as of the date of this Lease, except (a) as such Percentage Interests may be adjusted pursuant to the Limited Partnership Agreement as a result of a capital contribution made under Section 4.2 of the Limited Partnership Agreement by one of the Partners, (b) as portions of such Percentage Interests may be assigned by the Xxxxxx Entities with the consent of Xxxxxx, or (c) as Landlord’s Percentage Interest may be reduced pursuant to the call right contained in Section 4.8 of the Limited Partnership Agreement as a result of a termination by Landlord of his Employment Agreement without “Good Reason” as defined therein, or (4) in the event Tenant establishes a Newco to hold the REIT shares attributable to the transfer of the Property to the REIT, such Newco fails to have the same ownership structure as the Limited Partnership as of the date of the creation of Newco except (a) as such ownership structure may be adjusted in a manner similar to the adjustment of Percentage Interests under the Limited Partnership Agreement as a result of a capital contribution made under a provision similar to Section 4.2 of the Limited Partnership Agreement by one of the Partners, (b) as portions of such interests similar to Percentage Interests may be assigned by the Xxxxxx Entities with the consent of Xxxxxx, or (c) as Landlord’s Percentage Interest may be reduced pursuant to a call right similar to the one contained in Section 4.8 of the Limited Partnership Agreement as a result of a te...

Reversion Event means, following the occurrence of a Suspension Period, Holdings no longer maintains at least two of the ratings specified in the definition of Suspension Period.

Reversion Event means any of the following: (a) KAVL or Kaival Labs declaring bankruptcy or making an assignment for the benefit of its creditors; (b) Kaival Labs fails to develop a Covered Product by October 31, 2023, unless Kaival Labs is actively engaged in obtaining FDA approval of a Covered Product as set forth in Section 2.3(iv); (c) Kaival Labs is denied FDA approval as set forth in Section 2.3(iv) of this Agreement unless Kaival Labs develops a Covered Product unrelated to FDA approval as set forth in Section 2.3(v) of this Agreement; or (d) KAVL or Kaival Labs materially breaches this Agreement after NGL provides written notice of such material breach to KAVL by signature delivery and the material breach is not cured within fifteen (15) Business Days after delivery of the material breach written notice. For the avoidance of doubt, a Reversion Event cannot occur if: (y) Kaival Labs is actively seeking FDA approval; or (z) Kaival Labs has produced, or is producing, any Covered Product.

Reversion Event means (i) the termination or non-renewal of the Advisory Agreement or (ii) Michael L. Ashner's resignation xx xxx Xxxxx Xxxxxtive Officer and director of Newkirk and the Advisor.

Reversion Event means Finjan Blue’s breach of Section 2.1 (Payment) without a cure within sixty (60) days after receiving receipt of written notice of such breach.

Reversion Event means circumstances in which (after notice and an opportunity to cure for thirty (30) days in the case of clauses (ii) and (iii) below), (i) AG.cxx xxx less than 10% of its revenues derive from the AG.cxx Xxxiness; (ii) AG.cxx xxxaults in its royalty obligations to AG under the Ancillary Agreements; (iii) AG.cxx xxxaults on any covenant related to an indebtedness for borrowed money in excess of One Million Dollars ($1,000,000), or (iv) AG.cxx'x xinancial condition and its reasonably available sources of debt or equity capital

Reversion Event means, following the occurrence of a Senior Acceleration Event: