Second Term definition

Second Term means the period of five years following expiry of the Initial Term;

Second Term means the five-year period commencing upon the expiration of the First Term and ending on the tenth anniversary of the date of this Agreement.

Second Term shall normally mean the period from the first day of January to the thirtieth of April.

Examples of Second Term in a sentence

• The obligations of the Borrowers under the Credit Agreement with respect to the Second Term Loan will be secured by the Collateral without having to amend the Collateral Documents.

• The $100,000,000 Second Priority Second Term Loans due April 1, 2010, issued by CalGen pursuant to that certain Credit and Guarantee Agreement, dated as of March 23, 2004, among CalGen, the guarantor subsidiaries of CalGen listed therein, Morgan Stanley Senior Funding, Inc., as administrative agent, sole lead arranger, and sole bookrunner, and the various lenders named therein.

• Also, if during the Second Term, the Bank terminates Employee without Cause or Employee terminates his employment hereunder for Good Reason, Employee shall be entitled to any earned but unpaid amount of the fully discretionary Second Special Award on a pro rata basis for the period up to the date the Termination occurs and be paid as soon as administratively practicable following the date of the Termination.

• The Borrowers agree that at any time and from time to time, at their cost and expense, they will execute and deliver all further instruments and documents, and take such further actions, that may be reasonably necessary to so secure the Second Term Loan.

• Interest on the Second Term Loan accrues and is payable monthly in arrears at 4.50% per annum and the Second Term Loan matures on January 1, 2018.

More Definitions of Second Term

Second Term has the meaning set forth in Section 9.1.

Second Term means the period specified as such in Schedule 5 to this licence; “source-rock production” has the meaning given to it in clause 19(7);

Second Term means a period of four years following expiry of the Initial Term;

Second Term has the meaning set forth in Section 1.3 to this Agreement.

Second Term has the meaning assigned to it under the Licence; Sole Risk Development, and includes its entitlement for the time being to Petroleum won and saved under the Licence;

Second Term. In consideration of the Superintendent’s employment and duties during the Second Term of this Contract, the Board shall pay the Superintendent the gross salary of $275,000.00. Said annual salary shall be paid in equal installments throughout the Second Term in accordance with the policy and practice of the Board governing payment of administrative employees of the District.

Second Term. The Superintendent shall be entitled to twenty vacation leave days during the Second Term of this Contract. Vacation leave days shall not be taken at times that would interfere with the Superintendent’s attendance at regularly scheduled board meetings, at times when the Superintendent’s duties require the Superintendent’s attendance at school (e.g., beginning and end periods of the school year), or for any reason that would cause a negative legal ramification for the school district. Any accrued but unused vacation leave days from the Second Term of this Contract shall be paid in accordance with Paragraph (c) of this Section.