Blockage Period definition

Blockage Period has the meaning provided in Section 10.02.

Blockage Period means a period of time beginning on the date a Blockage Notice is delivered to Subordinated Creditor and terminating on the earlier to occur of:

Blockage Period means a Non-Payment Blockage Period or a Payment Blockage Period.

Examples of Blockage Period in a sentence

• Lender hereby agrees that it shall provide to Junior Lender prompt written notice of the Lender’s determination that Borrowers have cured an Default which caused the institution by Lender of a Blockage Period, and such written notice shall terminate such Blockage Period.

• Upon the expiration of any Payment Blockage Period and so long as no other Payment Blockage Period is in effect, Borrowers and the other Obligors may make or resume making (and Junior Creditors may receive and retain) any and all Permitted Subordinated Debt Payments that would otherwise have been made but for such Payment Blockage Period (“Deferred Permitted Subordinated Debt Payment”).

• In addition, during the continuance of any default (other than a Payment Default) with respect to any Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace period (a "Non-payment Default"), the Company may not pay the Senior Subordinated Notes for the period specified as follows (a "Payment Blockage Period").

• After the termination of a Payment Blockage Period, the Company will notify the Trustee and the Conversion Agent (if other than the Trustee) and resume making payments and distributions on the Notes, including any missed payments and distributions.

More Definitions of Blockage Period

Blockage Period has the meaning provided in Section 12.02.

Blockage Period has the meaning provided in Section 10.02. ---------------

Blockage Period shall have the meaning provided in Section 10.02.

Blockage Period shall have the meaning given to such term in Section 3.5;

Blockage Period has the meaning specified in Section 1203.

Blockage Period means a Senior Blockage Period, a Second Senior Blockage Period, a Third Senior Blockage Period, a Fourth Senior Blockage Period or an Intervening Blockage Period, as the context may require.

Blockage Period shall exist from and after the date that any Senior Default shall have occurred, until the earlier to occur of (a) the cure or waiver of such Senior Default, as determined by Agent in its sole discretion and (b) the payment in full of the Senior Obligations.