Key Person Event. A Key Person Event shall have occurred; or
Key Person Event. If either of Xx. Xxxxxxx Xxxxxxxxxx or Xxxxxxxx Xxxxxx ceases to be employed full time by the Borrower and actively working as the Chief Executive Officer and Chief Technology Officer, as applicable, unless within 180 days after such individual ceases to be employed full time and actively working the Borrower hires a replacement for such individual reasonably acceptable to the Lender.
Key Person Event. No Key Person Event exists at such date, subject to any applicable cure periods provided for and pursuant to the Operating Agreement.
Key Person Event. If, two or more of either Messrs. Xxx Xxxxx, Xxxxx Xxxxxxx or Xxx Xxxxxxxxx (each of such three Persons, a “Key Person” and collectively, the “Key Persons”) resign, are terminated or fail to devote substantially all of his business time to the investment activities of the Company and the Related Entities (the occurrence of such event, a “Key Person Event”), the Company shall provide written notice to Platinum and other Members, if any, of such Key Person Event as soon as practicable but in no event later than 10 days of the date of such Key Person Event; provided, however, the Members acknowledge and agree that, to the extent that Messrs. Xxxxx, Xxxxxxx or Xxxxxxxxx continue to remain materially involved in the day-to-day management of the Adviser based on each of their respective roles and responsibilities as of the date of this Agreement, such continued involvement in the day-to-day management of the Adviser following the date of this Agreement shall not be deemed to be a Key Person Event. In addition, each Member acknowledges and agrees that Xx. Xxxxx shall serve as chairman of the Board, and will not be involved in the day-to-day investment activities of the Company and the Related Entities, such that Xx. Xxxxx will provide general oversight of the Company and the Related Entities commensurate with the roles and responsibilities appropriate for a chairman or senior level C-suite executive. If the Adviser does not replace such individual(s) in the manner contemplated herein, then (A) Members will be released from their obligation to fund additional capital contributions with respect to the Common Units and (B) Platinum shall be permitted to remove the Adviser unless Xxxxxxxxx Credit Partners proposes replacement(s) to any such Key Persons that are acceptable to Platinum in its sole discretion. The restrictions set forth in clauses (A) and (B) above shall be rescinded upon the sole written consent of Platinum within 120 days of any such Key Person Event. Notwithstanding the foregoing, the Adviser is permitted at any time to replace any Person designated above with a senior professional (including a Key Person) selected by the Adviser, with the approval of Platinum (in which case, the approved substitute shall be a Key Person in lieu of the Person replaced), no later than 90 days after the date that the Adviser informs Platinum of its proposed replacement of the Key Person.
Key Person Event. Any or all of the Key Persons (or any replacement therefor appointed in accordance with this Section 9.01(q)) ceases to be employed full time by the Borrower and actively working in his or her respective office set forth opposite his or her name in the definition of “Key Persons” in Section 1.01 hereof, unless within 180 days (or such longer period of time as the Administrative Agent shall approve in its sole discretion, such approval not to be unreasonably withheld so long as the Borrower is diligently conducting its search) after such individual ceases to be employed full time and actively working, the Borrower hires a replacement that is either (i) acceptable to the Required Lenders (such acceptance not to be unreasonably withheld) or (ii) a Permitted Successor; or
Key Person Event. If, at any time during the term of this Agreement, any Key Person or Replacement Investment Professional ceases to spend such amount of such individual’s business time as such individual spent on average for the year prior to the date of this Agreement (except in the case of a Replacement Investment Professional, which shall instead be measured by the business time such individual spent on average for the immediate 12 months prior to the commencement of the Key Person Event) or ceases to principally spend such individual’s business time on the affairs of the Company, then a “Key Person Event” shall be deemed to have occurred.
Key Person Event. A Key Person Event shall have occurred and a replacement Chief Executive Officer, who shall be satisfactory to the Administrative Agent in its reasonable discretion, shall not have been approved by the Borrower’s Board within ninety (90) days of such Key Person Event.
Key Person Event. If two (2) or more of Gxxxx X. Xxxxxx, Axxx X. Xxxxxxxx, Exxx Xxxxxx and any other Person that the Adviser subsequently designates as a “Key Person” with the approval of the Board or a Majority-In-Interest of the Members (each, a “Key Person”) cease to devote substantially all of their respective business time to the affairs of the Adviser and its Affiliates, the Adviser shall promptly provide notice (the “Key Person Notice”) to each Member and the Investment Period shall be suspended until the earlier of (i) the one hundred twentieth (120th) calendar day following the date that the Key Person Notice is provided to each Member and (ii) the day on which a replacement Person for such Key Person (or Key Persons, as applicable) is approved by the Board or by a Majority-In-Interest of the Members (the “Suspension Period”); provided, that, during a Suspension Period, a Majority-In-Interest of the Members may elect to end the Suspension Period (in which case the Investment Period shall resume immediately following such election) or terminate the Investment Period. For the avoidance of doubt, during a Suspension Period, the Fund may issue Drawdowns or utilize the assets of the Fund only for Permitted Uses. If, prior to the occurrence of a Suspension Period, the Adviser designates a replacement individual for a departed Key Person and such replacement individual is approved by the Board or a Majority-In-Interest of the Members, then such replacement individual shall be deemed a Key Person in lieu of such departed Key Person.
Key Person Event. If either of Gxx X. Xxxx or Jxxx X. Xxxxxxxx ceases to be employed full time by Holdings and the Borrower and actively working, unless within 90 days after such individual ceases to be employed full time and actively working, Holdings and the Borrower hire a replacement for such individual approved by the Lender.
Key Person Event. If (i) Xxxxxx Xxxxxxxxxx ceases to be employed full time by, and actively working in the position of President and Chief Executive Officer of, Holdings, the Borrower and the Subsidiaries (taken as a whole), unless within 180 days after such Person ceases to be employed full time and actively working, Holdings, the Borrower and the Subsidiaries hire a replacement for such individual reasonably acceptable to the Required Lenders or (ii) any replacement hired pursuant to the foregoing clause (i) ceases to be employed full time by, and actively working in the position of President and Chief Executive Officer of, Holdings, the Borrower and the Subsidiaries (taken as a whole), unless within 180 days after such Person ceases to be employed full time and actively working, Holdings, the Borrower and the Subsidiaries hire a replacement for such individual reasonably acceptable to the Required Lenders.
