Sponsor Preferred Stock definition

Sponsor Preferred Stock means the shares of the Borrower’s preferred stock issued pursuant to the terms of the Purchase Agreement.

Sponsor Preferred Stock means shares of Series A Preferred Stock of Allied Waste issued and sold to the Sponsors on the Effective Date and any shares of the same class of such Preferred Stock issued in payment of dividends on outstanding shares of such class of Preferred Stock.

Sponsor Preferred Stock means all preferred Equity Interests of Holdings held by the Sponsor and any Sponsor Affiliate as of the Closing Date, together with any accumulation, accretion or other increase in the amount thereof pursuant to the terms thereof or the charter of Holdings.

Examples of Sponsor Preferred Stock in a sentence

• Notwithstanding anything to the contrary in Section 7.07 (d) above, if at any time the Borrower shall have been prohibited from making any dividends or other distributions in respect of the Sponsor Preferred Stock, the Borrower shall be permitted to make such payment in arrears; provided, that at the time of making such payment in arrears, the Borrower is in compliance with the requirements of this Section 7.07 on a pro forma basis after giving effect to such proposed Restricted Payment.

• For the further avoidance of doubt, none of the Secured Parties are, or shall be, third party beneficiaries (intended or otherwise) or the Sponsor Preferred Stock Subscription Agreement and/or any documentation in respect of any Sponsor Subordinated Debt.

• For the further avoidance of doubt, none of the Secured Parties (in their capacities as such) are, or shall be, third party beneficiaries (intended or otherwise) of the Incremental Liquidity Facility Credit Agreement, the Sponsor Preferred Stock Subscription Agreement and/or any documentation in respect of any Sponsor Subordinated Debt.

• Neither Borrower nor Parent will agree to any material amendment to, or waive any of its material rights under any Sponsor Preferred Stock Document after the Restatement Date, in any such case, if such amendment or waiver would reasonably be expected to be materially adverse to the interests of Borrower, Parent or Lenders, without in each case obtaining the prior written consent of Administrative Agent or Requisite Lenders to such amendment or waiver.

• The proceeds of the Term Loans, together with the proceeds of the Sponsor Preferred Stock and the Senior Subordinated Notes, are to be used solely for (a) the payment of the Merger Consideration, (b) the payment of fees and expenses payable in connection with the Transactions, (c) the repayment of the Existing Credit Facility, the BFI Credit Facility and commercial paper of BFI and (d) the repayment of severance and termination obligations of BFI in connection with the Merger.

More Definitions of Sponsor Preferred Stock

Sponsor Preferred Stock means the Borrower’s 9% cumulative compounding preferred stock issued to the Sponsor, members of management of Holdings, the Borrower or any Subsidiary, and any other Person making a direct or indirect equity investment in the Company contemporaneous with the consummation of the Acquisition.

Sponsor Preferred Stock means the shares of the Company’s preferred stock issued pursuant to the terms of the Acquisition Agreement, among Texas Genco LLC, the Company, and the direct and indirect owners of Texas Genco LLC party thereto, dated as of September 30, 2005.

Sponsor Preferred Stock means those shares of preferred stock with an aggregate liquidation preference of $30 million, issued by the Company to PPVA, and including any additional shares of preferred stock issued by way of a dividend; such shares shall accrue dividends payable in kind at a rate per annum of 24%. It is proposed that the following covenant be added as a new Section 4.23:

Sponsor Preferred Stock means, collectively, the Series B Preferred Stock and the Series C Preferred Stock.

Sponsor Preferred Stock means, collectively, the Series B Preferred Stock and the Series C Preferred Stock. "STATED CLOSING DATE TERM LOAN MATURITY DATE" means January 24, 2012. "STATED INCREMENTAL TERM LOAN MATURITY DATE" the date that is agreed to for such Term Loan by the Agents and the Borrower at the time the applicable Facilities Increase becomes effective.

Sponsor Preferred Stock means the preferred stock issued by the Parent in connection with the Transaction that has the following characteristics: (a) no cash payments of interest, dividends or principal are due prior to a mandatory redemption date unless permitted by the terms of this Credit Agreement, (b) unless otherwise permitted by the terms of this Credit Agreement, any mandatory prepayment date is at least 366 days following the later of (i) the final maturity date and termination of this Credit Agreement and (ii) the final maturity date and termination of the Subordinated Debt and (c) the holders of the "Sponsor Preferred Stock" shall have no economic or payment remedies (other than as a holder of equity), nor any other right the exercise of which could cause a Credit Party or any of its Subsidiaries to be in default under any of its agreements or to enter bankruptcy or similar proceedings until all amounts under this Credit Agreement have been paid in full and the commitments hereunder have been terminated.

Sponsor Preferred Stock means the $30,000,000 in aggregate liquidation preference of preferred equity interests of Parent to be issued and sold by Parent to the Sponsor or its Affiliates on the Restatement Date, which equity interests shall have the terms and conditions set forth in the Sponsor Preferred Stock Documents.