Fallback Position Sample Clauses

Fallback Position. (i) Notwithstanding any provision to the contrary contained in Section 5.18(a)(i), if any Dutch Parallel Debt constitutes the Collateral Agent as a joint creditor with any other Agent or any Lender, the Collateral Agent may determine (at its discretion) that any such Dutch Parallel Debts shall be combined into one single Dutch Parallel Debt (a “Combined Dutch Parallel Debt”), whereupon those Dutch Parallel Debts shall be combined into a Combined Dutch Parallel Debt: (A) the amount of a combined Dutch Parallel Debt shall be equal to the aggregate amount of all of the Underlying Debts combined into it; (B) which shall, if the Underlying Debts are expressed in different currencies, be expressed in such of those currencies as the Collateral Agent may determine; (C) which shall, if the Underlying Debts combined into it fall due at different times, fall due in parts corresponding to those Underlying Debts (but otherwise in accordance with Section 2.11) and (D) to which this Agreement shall otherwise apply as if the Dutch Combined Parallel Debt were a Dutch Parallel Debt. (ii) If any Underlying Debt is avoided or reduced other than (A) as a result of payment to, or recovery or discharge by, the Agent or Lender to which the Underlying Debt is owed; or (B) otherwise with the consent of such Agent or Lender, then the amount of the Dutch Parallel Debt corresponding to that Underlying Debt shall be equal to the amount that the Underlying Debt would have been if the avoidance or reduction had not occurred.
View Source

Related to Fallback Position

  • Callback Pay When an employee is called back to work after having completed their normal workday, they shall be granted a minimum of two (2) hours pay at time and one half. This provision shall not apply when the hours worked are an extension of the employee's workday.

  • Weekend Differential Employees assigned to State institutions other than Maine State Prison shall be eligible for a weekend differential of fifty cents ($.50) per hour to the base for shifts beginning between 10:00 p.m. Friday and 9:59 p.m.

  • Year 2000 Problem The Company and its Subsidiaries have reviewed the areas within their business and operations which could be adversely affected by, and have developed or are developing a program to address on a timely basis, the "Year 2000 Problem" (that is, the risk that computer applications used by the Company and its Subsidiaries may be unable to recognize and perform properly date-sensitive functions involving certain dates prior to and any date after December 31, 1999). Based on such review and program, the Company reasonably believes that the "Year 2000 Problem" will not have a Material Adverse Effect.

  • Termination Due to Force Majeure Event If the period of Force Majeure continues or is in the reasonable judgment of the Parties likely to continue beyond a period of 120 (one hundred and twenty) Days, the Parties may mutually decide to terminate this Agreement or continue this Agreement on mutually agreed revised terms. If the Parties are unable to reach an agreement in this regard, the Affected Party shall after the expiry of the said period of 120 (one hundred and twenty ) Days be entitled to terminate the Agreement in which event, the provisions of Articles 16 and 17 shall, to the extent expressly made applicable, apply.

  • Termination for Market Change (a) In the event of delay or interruption under B8.33, exceeding 90 days, and Contract has not been modified to include replacement timber, this contract may be terminated upon election and written notice by Purchaser, if (i) a rate redetermination for market change under B3.33 shows that the appraised weighted average Indicated Advertised Rate of all Included Timber remaining immediately prior to the delay or interruption has been reduced through a market change by an amount equal to or more than the the weighted average Current Contract Rate, or (ii) the appraised value of the remaining timber is insufficient to cover the adjusted base rates as determined under B3.33.