Springing Event definition

Springing Event means that as of the last day of any fiscal quarter of Parent, Parent and its consolidated subsidiaries have less than $70,000,000 of cash and cash equivalents (including, without limitation, Permitted Investments described in clauses (b) – (f) of Section 5.6) as listed on Parent’s balance sheet as included within Parent’s 10-Q (or, in the case of the last fiscal quarter of any fiscal year of Parent, Parent’s 10-K) as filed with the Securities and Exchange Commission;

Springing Event shall have the meaning set forth in Section 3.1.24(v).

Springing Event means, subject to the Intercreditor and Subordination Agreement, the creation of a second priority perfected Lien on the Collateral, as provided in the Security Documents, to secure the obligations of the Company under the Notes and the Indenture and of each Guarantor under any Note Guarantee and the Indenture.

Examples of Springing Event in a sentence

• Upon the occurrence of a Springing Event, the Prepetition Lender shall produce all Requested Documents for inspection and copying to the Committee's undersigned counsel within sixty (60) days of the date of the Springing Event (the " Prepetition Lender Deadline"); provided, however, that if the Plan is confirmed or the Debtors' bankruptcy cases are converted to Chapter 7 prior to the Prepetition Lender Deadline, the Prepetition Lender shall not be required to produce any of the Requested Documents.

• Certain Cargo Finance Agreements provide that Borrower grants a Lien upon and security interest in the Collateral, but that Lender will not file a UCC Financing Statement to perfect, and Lender will not foreclose upon, such Lien until a Collateral Springing Event occurs.

• Within five Business Days of the Springing Event, the Company shall, or cause the Trustee (upon written request to the Trustee made at least two Business Days (unless a shorter period shall be agreed to by the Trustee) prior to the date on which notice is to be delivered) to, deliver a written notice (the “ Springing Event Notice ”) of the Springing Event to all Holders of outstanding Notes.

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• With respect to each Borrower that is subject to such a Cargo Finance Agreement, such Borrower shall not be deemed to have granted to Lender a security interest in the Collateral until the occurrence of a Collateral Springing Event for purposes of Section 9 of the Cargo Finance Agreement, for purposes of the definitions of "Eligible Document" and "Eligible Goods" in the STAPs, and for purposes of Sections 4, 5 and 11 of the STAPs.

More Definitions of Springing Event

Springing Event means, in a class action lawsuit against Reorganized XxxxXxxxx that is not initiated by any Holders (or such Holders’ affiliates) of New Convertible Debt and that is reasonably expected to result in a material adverse effect on the business of Reorganized XxxxXxxxx, either (i) the entry of an order by a court of competent jurisdiction denying summary judgment to Reorganized XxxxXxxxx (and/or its reorganized Debtor affiliates) or (ii) the expiration of the time period in which Reorganized XxxxXxxxx (and/or its reorganized Debtor affiliates) may move for summary judgment Covenants None EXHIBIT F RIGHTS OFFERING TERM SHEET Issuer Reorganized XxxxXxxxx New Equity Parties Until the earlier of (x) 30 days following the entry of the Disclosure Statement Order, (y) 15 days before the date of the confirmation hearing set forth in the Disclosure Statement Order, or (z) 90 days after the Petition Date, Consenting Creditors shall have the exclusive right to participate as the New Equity Parties Thereafter, the Debtors shall have the right to sell or offer to other parties any Rights Offering Equity that is not already allocated; provided that such New Equity Parties are subject to the consent of the Required Consenting Creditors, such consent not to be unreasonably withheld Amount The sale or rights offering for up to $150 million in New Common Stock at a valuation of the lesser of (a) $1.215 billion or (b) 90% of the equity value under the Plan as set forth in the Disclosure Statement by no later than 30 days after the Petition Date, plus the amount of the rights offering subscriptions, that the Debtors may implement in their discretion, subject to dilution by the Employee Incentive Plan and protected from dilution by the Conversion Equity and the Warrants (the “Rights Offering Equity”)

Springing Event. The earlier of (a) the occurrence of a Trigger Event set forth in clauses (a)(i)(A)(4) or (c) of the definition thereof and (b) the date on which the Agent transmits a Trigger Event Notice.

Springing Event shall have the meaning set forth in the Indenture.

Springing Event means that as of the last day of any fiscal quarter of Parent, Parent and its consolidated subsidiaries have less than $80,000,000 of cash and cash equivalents (including, without

Springing Event means (a) the Borrowers have Undrawn Availability at any time of less than an amount equal to 15% of the lesser of

Springing Event means that as of the last day of any fiscal quarter of Parent, Parent and its consolidated subsidiaries have less than

Springing Event means the creation of a Subordinated Lien on the Collateral to secure up to $100,000,000 in aggregate principal amount, subject to increase pursuant to Section 9.18(c), of the obligations of the Company under the relevant Subordinated Debt Documents and guarantee obligations of any subsidiary of the Company providing a guarantee of such Subordinated Debt upon the earlier to occur of (i) the Company’s good faith determination that the Specified Litigation Event has occurred or (ii) the receipt of written notice from holders or lenders constituting at least two-thirds in aggregate principal amount of the relevant Subordinated Obligations then outstanding (or the Subordinated Representative acting pursuant to the direction of such holders or lenders) that the Specified Litigation Event has occurred, the Springing Event shall be deemed to have occurred.