Take-Out Notice definition

Take-Out Notice means the notice, substantially in the form attached hereto as Exhibit K, furnished by the Debtor to the Collateral Agent and the Note Insurer in accordance with Section 2.15.

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Take-Out Notice shall have the meaning provided in Section 3.2.

Take-Out Notice means a notice from the Program Agent to the Seller, substantially in the form attached as Exhibit I to the Purchase Agreement, stating that the Purchaser has completed a Take-out Transaction and specifying the related Take-out Adjustment Amount.

Examples of Take-Out Notice in a sentence

On any Business Day, the Debtor shall have the right, upon delivery to the Collateral Agent of a Take-Out Notice substantially in the form of Exhibit K hereto, to require the Collateral Agent to release its security interest in and its Lien on all or part of the Contracts and the related Receivables on the terms and conditions set forth herein.
If, after taking into account the payment to the Debtor of any such amount from the Funding Account, the Borrowing Base still exceeds the Net Investment, the Debtor may deliver a Take-Out Notice and request the release to it of Receivables designated by the Debtor such that, when so released, the Net Investment would equal the Borrowing Base, provided that no Termination and Amortization Event would result from such release.
The Take-Out Notice shall specify (i) the principal amount of the Take-Out Securities to be issued, (ii) the name of the proposed registered holder, (iii) the amount of the Take-Out Securities requested, which shall not exceed the aggregate principal amount of Loans then outstanding, and (iv) the aggregate principal amount of each of the Loans, Exchange Notes, Notes, Take-Out Securities and Additional Debt Securities held by each Joint Lead Arranger and its respective Affiliates.
The Take-Out Notice shall specify (i) the principal amount of the Take-Out Securities to be issued, (ii) the name of the proposed registered holder, (iii) the amount of the Take-Out Securities requested, which shall not exceed the aggregate principal amount of Loans then outstanding, and (iv) the aggregate principal amount of each of the Loans, Backstop Credit Facilities, Notes and Additional Debt Securities held by each Joint Lead Arranger and its respective Affiliates.
On any Business Day, the Issuer shall have the right, upon delivery to the Collateral Agent of a Take-Out Notice substantially in the form of Exhibit K hereto, to require the Collateral Agent to release its security interest in and its Lien on all or part of the Contracts and the related Receivables on the terms and conditions set forth herein.
The Take-Out Notice shall specify (i) the principal amount of the Take-Out Securities to be issued, (ii) the name of the proposed registered holder, (iii) the amount of the Take-Out Securities requested, which shall not exceed the aggregate Accreted Value of Loans then outstanding, and (iv) the aggregate Accreted Value of each of the Loans, Exchange Notes, Notes, Take-Out Securities and Additional Debt Securities held by each Joint Lead Arranger and its respective Affiliates.
The Company shall prepare an offering memorandum in respect of the Take-Out Notes to be issued as soon as reasonably practicable after receipt of the Take-Out Notice.

More Definitions of Take-Out Notice

Take-Out Notice means a notice given pursuant to clause 25.1(a).

Take-Out Notice means the notice, substantially in the form attached hereto as Exhibit L, furnished by the Debtor to the Collateral Agent in accordance with Section 2.15.

Take-Out Notice has the meaning given to that term in Clause 39.1 (Take-Out Notes).