Stockholder Approval Default definition

Stockholder Approval Default shall have the meaning ascribed to such term in the Loan Agreement.
View Source
Stockholder Approval Default has the meaning ascribed to such term in Section 12.1(d).
View Source

Examples of Stockholder Approval Default in a sentence

  • If the Stockholder Approval is not obtained within 90 days from the Stockholder Approval Deadline (the "Second Stockholder Approval Deadline"), then the Company hereby agrees to pay Additional Interest on the Securities from and including the 91/st/ day after the Stockholder Approval Deadline to, but excluding, the day on which the Stockholder Approval Default has been cured in an amount equal to 0.75% per annum on the principal amount of the Securities then Outstanding.

  • As used herein, the term "Default" and "Event of Default" shall refer to such terms as defined in the Loan Agreement; provided, however, that for purposes of this Agreement and all other Security Documents, a Stockholder Approval Default shall not constitute an Event of Default unless Grantor shall be in breach of its obligations under Section 12.2(b) of the Loan Agreement.

  • If the Stockholder Default Balance shall not be paid in full, in cash, within 30 days of the Stockholder Approval Default, the Loan Repayment Amount shall thereafter bear interest at the Default Rate.