Stock Borrow Event definition

Stock Borrow Event shall occur if, in its sole discretion, Bank (or its agent or affiliate) is unable to, or it is commercially impracticable for Bank (or its agent or affiliate) to, continue to borrow a number of Shares equal to the Number of Shares or that, with respect to borrowing the Number of Shares, Bank (or its agent or affiliate) would incur a rate that is greater than the Borrow Cost. A “Lending Party” means a third party that is not Counterparty that Bank (or its agent or affiliate) considers to be an acceptable counterparty (acting in good faith and in a reasonable manner in light of (x) other transactions that Bank (or its agent or affiliate) may have entered into with such party and (y) any legal, regulatory or self-regulatory requirements or related policies and procedures (whether or not such requirements or related policies and procedures are imposed by law or have been voluntarily adopted by Bank) that apply generally to transactions of a nature and kind similar to the transactions contemplated with such party); provided that, in addition to the foregoing requirements, an affiliate of Counterparty shall not be a Lending Party unless the transactions contemplated with such party would be (I) in compliance with applicable securities laws, including, without limitation, the Securities Act, as determined by Bank (or its agent or affiliate) in its reasonable discretion based on advice of counsel, and (II) on such terms and conditions as are acceptable to Bank (or its agent or affiliate) in its sole discretion.
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Stock Borrow Event means, after the delivery of the Acquisition Shares to the Purchaser, Mxxxxxx Lxxxx is unable to borrow a sufficient number of shares of Common Stock at a rate of 35 basis points or less.
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Stock Borrow Event shall occur if, in its sole discretion, Bank (or its agent or affiliate) is unable to, or it is commercially impracticable for Bank (or its agent or affiliate) to, continue to
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Examples of Stock Borrow Event in a sentence

  • In the event of a Stock Borrow Event, Dealer shall, upon request of Party B, provide Party B with reasonable documentation in its possession regarding its determination that a Stock Borrow Event has occurred, provided that in no event shall Dealer be obligated to provide any proprietary or confidential information.

  • In the event of a Stock Borrow Event, KBCM shall, upon request of Party B, provide Party B with reasonable documentation in its possession regarding its determination that a Stock Borrow Event has occurred, provided that in no event shall KBCM be obligated to provide any proprietary or confidential information.

  • In the event of a Stock Borrow Event, BNYM shall, upon request of Party B, provide Party B with reasonable documentation in its possession regarding its determination that a Stock Borrow Event has occurred, provided that in no event shall BNYM be obligated to provide any proprietary or confidential information.

  • Each of the following events shall constitute an “Acceleration Event” as to the Transaction, provided that the Effective Date shall have occurred prior to such event: Stock Borrow Event.

Related to Stock Borrow Event

  • Loss of Stock Borrow means that the Issuer and/or any Affiliate is unable, after using commercially reasonable efforts, to borrow (or maintain a borrowing of) any Share in an amount equal to the Hedging Shares at a rate equal to or less than the Maximum Stock Loan Rate.

  • Hedging Disruption Event means any event which, in the Issuer’s reasonable opinion, would make it illegal or commercially unfeasible for the Issuer to continue to hedge its obligations in relation to the Bond.

  • Eurodollar Disruption Event The occurrence of any of the following: (a) any Liquidity Bank shall have notified the Administrative Agent of a determination by such Liquidity Bank or any of its assignees or participants that it would be contrary to law or to the directive of any central bank or other governmental authority (whether or not having the force of law) to obtain Dollars in the London interbank market to fund any Advance, (b) any Liquidity Bank shall have notified the Administrative Agent of the inability, for any reason, of such Liquidity Bank or any of its assignees or participants to determine the Adjusted Eurodollar Rate, (c) any Liquidity Bank shall have notified the Administrative Agent of a determination by such Liquidity Bank or any of its assignees or participants that the rate at which deposits of Dollars are being offered to such Liquidity Bank or any of its assignees or participants in the London interbank market does not accurately reflect the cost to such Liquidity Bank, such assignee or such participant of making, funding or maintaining any Advance, (d) any Liquidity Bank shall have notified the Administrative Agent of the inability of such Liquidity Bank or any of its assignees or participants to obtain Dollars in the London interbank market to make, fund or maintain any Advance or (e) any Liquidity Bank shall have notified the Administrative Agent that the principal amount of Advances to be funded by it is less than $500,000.

  • FX Disruption Event ' means the occurrence of any event on any day or any number of consecutive days as determined by the Calculation Agent in its sole and reasonable discretion that affects the Issuer’s currency hedging (if any) with respect to the Products.

  • Hedging Event means, with respect to the Notes, the occurrence of an event that has a material adverse effect on Royal Bank’s ability to place, maintain or modify any hedge, including without limitation:

  • Additional Disruption Event means any of Change in Law, Hedging Disruption and/or Increased Cost of Hedging.

  • Extraordinary Event means a Merger Event, Tender Offer, Nationalisation, Insolvency or Delisting, as the case may be.

  • Fund Disruption Event means any of the following events, as determined by the Determination Agent in its reasonable discretion:

  • Interest Rate Adjustment Event means the occurrence of any of the following:

  • Hedging Disruption means that the Issuer is unable, after using commercially reasonable efforts, to (A) acquire, establish, re-establish, substitute, maintain, unwind or dispose of any transaction(s) or asset(s) it deems necessary to hedge the risk of issuing and performing its obligations with respect to the Securities, or (B) realise, recover or remit the proceeds of any such transaction(s) or asset(s).

  • Reclassification Event means any of the following: (a) any reclassification or recapitalization of PubCo Shares (other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination or any transaction subject to Section 4.1(e)), (b) any merger, consolidation or other combination involving PubCo, or (c) any sale, conveyance, lease or other disposal of all or substantially all the properties and assets of PubCo to any other Person, in each of clauses (a), (b) or (c), as a result of which holders of PubCo Shares shall be entitled to receive cash, securities or other property for their PubCo Shares.

  • Disruption Event means either or both of:

  • Settlement Disruption Event means each of the following events, as determined by the Calculation Agent in its sole discretion acting in good faith and in a commercially reasonable manner:

  • Index Replacement Event means each of the following events:

  • Relevant Event means any Termination Event or any Mandatory Prepayment Event or any event which after the giving of notice or lapse of time or the satisfaction of any other condition (or any combination thereof) would constitute a Termination Event or a Mandatory Prepayment Event;

  • Reduction Event means any of the following:

  • Book-Up Event means an event that triggers a positive adjustment to the Capital Accounts of the Partners pursuant to Section 5.5(d).

  • Step Up Event means a failure to meet the Minimum Rating Requirement at any time, unless:

  • Market Disruption Event means either of the following events as determined by the Calculation Agent:

  • FX Market Disruption Event means each of the following events:

  • Prepayment Event means any Asset Sale Prepayment Event, Debt Incurrence Prepayment Event, Casualty Event or any Permitted Sale Leaseback.

  • Roll-Up Transaction means a transaction involving the acquisition, merger, conversion or consolidation either directly or indirectly of the Company and the issuance of securities of a Roll-Up Entity to the holders of Common Shares. Such term does not include:

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • Extraordinary Events Any of the following conditions with respect to a Mortgaged Property (or, with respect to a Cooperative Loan, the Cooperative Apartment) or Mortgage Loan causing or resulting in a loss which causes the liquidation of such Mortgage Loan:

  • Revaluation Event means an event that results in adjustment of the Carrying Value of each Partnership property pursuant to Section 5.5(d).

  • XXXX Event means if there are any Mortgaged Properties at any time, any increase, extension of the maturity or renewal of any of the Commitments or Loans (including any incremental credit facility hereunder, but excluding (i) any continuation or conversion of Borrowings, (ii) the making of any Revolving Loans or (iii) the issuance, renewal or extension of Letters of Credit).