Term Loan Standstill Period definition

Term Loan Standstill Period has the meaning provided in Section 8.01(b).

Term Loan Standstill Period shall have the meaning set forth in Section 3.1(a).

Term Loan Standstill Period means each period commencing on the date of the occurrence of an Event of Default under any Term Loan Financing Document and ending upon the date which is 120 days after the date the Revolving Agent has received a Term Loan Default Notice with respect to such Event of Default. For the avoidance of doubt, the term “Term Loan Standstill Period” shall have no application with respect to actions taken solely with respect to the Term Loan Priority Collateral or which would otherwise constitute Enforcement Actions or other actions taken by Term Loan Creditors as unsecured creditors of the Obligors.

Examples of Term Loan Standstill Period in a sentence

Notwithstanding anything to the contrary in the foregoing, in the case of an Event of Default resulting from a default in the performance of a Financial Covenant, prior to the expiration of the Term Loan Standstill Period, the references to “Required Lenders” in clauses (i) and (ii) shall mean “Required Revolving Lenders” and references to “Loans” in clauses (i) and (ii) shall mean “Revolving Loans”.
The Term Lender may initiate a Term Loan Standstill Period by written notice to the Administrative Agent at any time after the occurrence and during the continuance of a Term Loan Action Event.
Further, in the event that during the Term Loan Standstill Period, the Revolving Credit Agent sends to the Term Loan Agent irrevocable notice of an intention to exercise the purchase option pursuant to Section 2.14, no Term Loan Secured Party shall commence or prosecute an Enforcement Action with respect to the Term Lender Priority Collateral unless the Designated Revolving Purchasers fail to perform pursuant to the exercise of the purchase option at the time and manner provided herein.
In the event of any insolvency proceeding against any Borrower or Guarantor, the Term Loan Standstill Period shall be tolled.

Term Loan Standstill Period has the meaning assigned to such term in Article VII.

Term Loan Standstill Period has the meaning assigned to such term in Section 7.01(d). “Term Loans” means (x) the loans made pursuant to Section 2.01(a), (y) Other Term Loans and (z) term loans made pursuant to an Incremental Term Increase, as the context requires.

Term Loan Standstill Period has the meaning specified in Section 8.01(b). “Threshold Amount” means $50,000,000.

Term Loan Standstill Period has the meaning set forth in Section 4.4(a). “Term Loan Required Lenders” means the “Required Lenders” under and as defined in the Term Loan Agreement. “Term Loan Secured Parties” means the Term Loan Agent and the Term Loan Lenders. “Trustee” has the meaning set forth in the recitals to this Agreement. “UCC” means the Uniform Commercial Code as in effect from time to time in the State of New York or when the context implies, the Uniform Commercial Code as in effect from time to time in any other applicable jurisdiction. “Work Area” has the meaning set forth in the preamble to this Agreement.

Term Loan Standstill Period has the meaning set forth in Section 8.01(b). “Term Note” means a promissory note of the Borrower payable to any Initial Term Lender or Tranche B-2 Term Lender, as applicable, or its registered assigns, in substantially the form of Exhibit C-1 hereto, evidencing the aggregate Indebtedness of the Borrower to such Initial Term Lender or Tranche B-2 Term Lender, as applicable resulting from the Initial Term Loans or the Tranche B-2 Term Loans, as applicable, made by such Initial Term Lender or Tranche B-2 Term Lender, as applicable. “Term Pro Rata Extension Offers” has the meaning specified in Section 2.16(a). “Test Period” means, for any date of determination under this Agreement, the four consecutive fiscal quarters of the Borrower then last ended. “Threshold Amount” means $100,000,000. “Title Policy” means a policy of title insurance (or marked-up title insurance commitment having the effect of a policy of title insurance) insuring the Lien of a Mortgage as a valid first mortgage Lien on the mortgaged property and fixtures described therein in the amount equal to not less than the fair market value of such mortgaged property and fixtures, issued by a title company reasonably acceptable to the Collateral Agent which shall (A) to the -58-CG&R Draft 0000000000v1 Last Saved: 08/19/2013 8:50 pm 0000000000

Term Loan Standstill Period has the meaning provided in Section 8.01(b). “Term Note” means a promissory note of the Borrower payable to any Term Lender or its registered assigns, in substantially the form of Exhibit D-1 hereto, evidencing the aggregate Indebtedness of the Borrower to such Term Lender resulting from the Term Loans of each Class made by such Term Lender. “Terminated Covenants” has the meaning set forth in Article VII. “Test Period” means, for any date of determination under this Agreement, the latest four consecutive fiscal quarters of the Borrower for which financial statements have been delivered to the Administrative Agent on or prior to the Closing Date and/or for which financial statements are required to be delivered pursuant to Section 6.01, as applicable. “Threshold Amount” means $225,000,000. “Timeshare Business” has the meaning assigned to such term in the Distribution Agreement. 71 #94982393v10