Specified Change is defined in the term “Change in Law”.
Specified Change means any amendment, consent, modification or waiver of, or supplement to, a Related Contract that (a) extends the final maturity of a Collateral Loan beyond the Stated Maturity, (b) reduces or forgives the principal amount of a Collateral Loan (other than a Defaulted Loan that has been a Defaulted Loan for one year or more), (c) reduces the rate of interest payable on a Collateral Loan by more than 25% (other than a Defaulted Loan that has been a Defaulted Loan for one year or more), (d) postpones the Due Date of any Scheduled Distribution in respect of a Collateral Loan, (e) subordinates (in right of payment, with respect to liquidation preferences or otherwise) a Collateral Loan, (f) releases any material guarantor or co-obligor of a Collateral Loan from its obligations, (g) releases a material portion of the collateral securing such Collateral Loan (excluding Defaulted Loans and any such releases associated with a prepayment) or (h) changes any of the provisions of a Related Contract specifying the number or percentage of lenders required to effect any of the foregoing.
Specified Change means any amendment, consent, modification or waiver of, or supplement to, a Related Contract that (a) extends the final maturity of a Collateral Loan beyond the Stated Maturity; (b) reduces or forgives the outstanding principal amount of a Collateral Loan (other than a Defaulted Loan that has been a Defaulted Loan for one year or more); (c) reduces the rate of cash interest payable on a Collateral Loan by more than 10% (other than a Defaulted Loan that has been a Defaulted Loan for one year or more and excluding any reduction that (x) is not the result, in the reasonable determination of the Service Provider, of the financial distress of the obligor, (y) does not result in the creation of a PIK Loan after giving effect to such reduction); (d) extends the scheduled date of expiration or termination of any commitment to make revolving loans or delayed draws; (e) modify the amortization schedule with respect to such Collateral Loan in a manner that causes the Weighted Average Life of the applicable Collateral Loan to increase by more than 10%; (f) increases the commitment to make revolving loans or delayed draws; (g) alters any provision requiring the pro rata treatment of like obligations or priority of payments of obligations under the Related Contract which, in either case, affects such Collateral Loan in a manner that materially and adversely impacts the holders thereof; (h) releases any Obligor, material guarantor or co-obligor of a Collateral Loan from its obligations or permits such Person to assign or transfer its rights in a manner other than as contemplated by the Related Contract; or (i) releases a material portion of the collateral securing such Collateral Loan (excluding Defaulted Loans and any such releases associated with a prepayment) other than as contemplated by the Related Contract.
Examples of Specified Change in a sentence
Annual Specified Change Process Mechanism The annual business cycle for the SC includes protocols for the annual review of the funded status and projected contributions for the RCA in accordance with Touchpoint 7 of the Framework Agreement, and continues with a process for consideration of benefit design and contribution proposals pursuant to By-Law No. 12, enacted November 6, 2008.
The three schools are funded through the Local Management of Schools and as small post-primary schools, in total receive an additional £310,000 approximately as a small school’s allowance.
The following table reflects purchases made during the 2006 fiscal year: ISSUER PURCHASES OF EQUITY SECURITIES (1) (1) The Company has a program to repurchase its Common Stock in the open market.
Holdings ceases to own, directly or indirectly, 100.0% of the outstanding Capital Stock of the Issuer; provided that in no case shall a Change of Control be deemed to have occurred if such Change of Control is also a Specified Change of Control Event.
A (i) Change in Control of the Borrower shall occur or (ii) Specified Change in Control shall occur.
More Definitions of Specified Change
Specified Change means any amendment, consent, modification or waiver of, or supplement to, a Related Contract that (a) extends the final maturity of a Collateral Loan beyond the Stated Maturity, (b) reduces or forgives the principal amount of a Collateral Loan (other than a Defaulted Loan that has been a Defaulted Loan for one year or more), (c) reduces the rate of interest payable on a Collateral Loan by more than 25% (other than a Defaulted Loan that has been a Defaulted Loan for one year or more), (d) postpones the Due Date of any Scheduled Distribution in respect of a Collateral Loan by more than three months, (e) subordinates (in right of payment, with respect to liquidation preferences or otherwise) a Collateral Loan, (f) releases any material guarantor or co-obligor of a Collateral Loan from its obligations, (g) releases a material portion of the collateral securing such Collateral Loan (excluding Defaulted Loans and any such releases associated with a prepayment) or (h) changes any of the provisions of a Related Contract specifying the number or percentage of lenders required to effect any of the foregoing.
Specified Change means any amendment or waiver of, or supplement to, a Reference Instrument or to the terms of the related Collateral Obligation that:
Specified Change means, with respect to any Collateral Obligation, any amendment, consent, waiver or other modification with respect to a Related Document that (a) reduces the principal amount of such Collateral Obligation, (b) reduces the rate of interest payable on such Collateral Obligation by greater than 1.00% per annum (whether calculated based on a spread above a floating reference rate or a fixed rate), (c) postpones the Due Date of any Scheduled Distribution in respect of such Collateral Obligation, provided that any amendment, consent, waiver or other modification postponing the Due Date or any Scheduled Distributions will not be a Specified Change if the Weighted Average Maturity Date of the Collateral Obligations as of such Determination Date is earlier than or on the actual Weighted Average Maturity Date at the end of the Reinvestment Period, (d) alters the pro rata allocation or sharing of distributions required by the Related Documents of a Collateral Obligation, (e) releases any material guarantor or co-obligor of such Collateral Obligation from its obligations, (f) terminates or releases all or substantially all of the assets securing such Collateral Obligation, or(g) changes any of the provisions of a Related Document specifying the number or percentage of lenders required to effect any of the foregoing.
Specified Change means any amendment or waiver of, or supplement to, an Underlying Instrument governing or relating to a Collateral Debt Security that (a) reduces the principal amount of such Collateral Debt Security, (b) reduces the rate of interest or any fee payable on such Collateral Debt Security, (c) postpones the Due Date of any Scheduled Distribution in respect of such Collateral Debt Security, (d) alters the pro rata allocation or sharing, or the relative priorities, of Distributions required by such Underlying Instrument, (e) releases any material guarantor of such Collateral Debt Security from its obligations, (f) terminates or releases any material lien or security interest securing such Collateral Debt Security or (g) changes any of the provisions of such Underlying Instrument specifying the number or percentage of lenders or holders required to effect any of the foregoing; provided, that any amendment, waiver or supplement referred to in any of clauses (a) through (d) shall constitute a “Specified Change” only to the extent the Issuer would be adversely affected thereby.
Specified Change means any of the following changes:
Specified Change. With respect to any Collateral Obligation, any exchange, amendment, consent, modification or waiver of, or supplement to, an Underlying Instrument that (a) extends the final maturity of a Collateral Obligation beyond the Stated Maturity, (b) reduces or forgives the principal amount of a Collateral Obligation (other than a Defaulted Obligation that has been a Defaulted Obligation for one year or more), (c) reduces the rate of interest payable on a Collateral Obligation by more than 25% for a Credit Risk Obligation or a Defaulted Obligation and more than 50% for other Collateral Obligations, (d) postpones the Due Date of any Scheduled Distribution in respect of a Collateral Obligation, unless the Maximum Weighted Average Life Test is satisfied after giving effect to such change, (e) subordinates (in right of payment, with respect to liquidation preferences or otherwise) a Collateral Obligation if such subordination causes any of the Coverage Tests or the Collateral Quality Test to cease to be in compliance (or, if any of the Coverage Tests or the Collateral Quality Test is not satisfied prior to such subordination, causes any such Coverage Test or the Collateral Quality Test to be worsened), (f) releases any material guarantor or co-obligor of a Collateral Obligation from its obligations, (g) releases a material portion of the collateral securing such Collateral Obligation (excluding Defaulted Obligations and any such releases associated with a prepayment), (h) with respect to Defaulted Obligations that have been Defaulted Obligations for less than one year, provides for a return that is less than the Principal Collateralization Amount for any such Defaulted Obligation as determined pursuant to clause (c) of the definition of "Principal Collateralization Amount" or (i) changes any of the provisions of an Underlying Instrument specifying the number or percentage of lenders required to effect any of the foregoing; provided that, in the case of clauses (d) and (e) above, such tests have been calculated, if applicable, after the Underlying Instrument has been re-evaluated by the Rating AgencyAgencies.
Specified Change means any amendment, consent, modification or waiver of, or supplement to, a Related Contract that (a) extends the final maturity of a Collateral Loan beyond the Stated Maturity, (b) reduces or forgives the principal amount of a Collateral Loan (other than a Defaulted Loan that has been a Defaulted Loan for one year or more), (c) reduces the rate of interest payable on a Collateral Loan by more than 25% (other than a Defaulted Loan that has been a Defaulted Loan for one year or more), (d) postpones the Due Date of any Scheduled Distribution in respect of a Collateral Loan; provided that during the Reinvestment Period only, any amendment, consent, waiver or other modification postponing the Due Date of any Scheduled Distribution will not constitute a Specified Change so long as the Maximum Weighted Average Life Test would be satisfied (or if not satisfied, maintained or improved) after giving effect to such amendment, consent, modification, waiver or supplement, (e) subordinates (in right of payment, with respect to liquidation preferences or otherwise) a Collateral Loan, (f) releases any material guarantor or co-obligor of a Collateral Loan from its obligations, (g) releases a material portion of the collateral securing such Collateral Loan (excluding Defaulted Loans and any such releases associated with a prepayment) or (h) changes any of the provisions of a Related Contract specifying the number or percentage of lenders required to effect any of the foregoing.