Separation Event Sample Clauses

Separation Event. Upon the occurrence of any Separation Event with respect to an Associate Member, such Associate Member (and/or his legal representative, if applicable) shall have no right to vote on or participate in any decision or matter on or in which Associate Members are entitled to vote or participate and such Associate Member (and his or her Percentage Interest) shall be disregarded for all purposes in determining the number or percentage of Associate Members which constitute a Majority in Interest of the Associate Members, as applicable, or the number or percentage of Associate Members entitled to vote on any matter, as the case may be. Without limiting the foregoing, no Former Associate Member shall be entitled to vote on any proposed amendment to this Agreement, unless such proposed amendment specifically and disproportionately adversely affects such Former Associate Member, provided that any amendment made in order to effectuate the provisions of Sections 3.03 and 3.04 shall not require the consent of any Former Member. Following the occurrence of a Separation Event with respect to an Associate Member, such Associate Member shall not be entitled to any distributions of Net Investment Receipts with respect to any Investment (including a Follow-on Investment) made by the LLC after the date of the Separation Event, and any distributions of Net Investment Receipts in respect of such Investments which would otherwise be payable to such Associate Member shall instead be paid to the Managing Member.

Separation Event. The parties hereto acknowledge that upon the expiration of the Guarantee Period the Company will result in the occurrence of a Separation Event. The Buyer agrees not to take any actions that could be detrimental to the Company's successful conclusion of a Separation Event. i Payment of Compensation. Schedule 4(i) sets forth all compensation due former employees of the Company through the date of this Agreement, all such compensation being due in payment of bona fide services previously rendered to the Company. The Company will use its best efforts to secure the written agreement prior to Closing of each of these individuals to defer the payment of such compensation until the earlier of such time as the Company shall have received a lump sum investment of at least $2 million from a corporate partnership or upon the occurrence of a Separation Event.

Separation Event. The sale, conveyance or other transfer by Lessor of all or any portion of its interest in the Leased Property of one (1) or more Facilities;

Separation Event. If a Separation Event occurs at any time prior to the consummation of the Exchange Offer of the Units pursuant to this Agreement, all terms and conditions set forth under this Agreement shall apply to each of the Bermuda Issuer Notes and U.S. Issuer Notes (as independent securities) and each of the defined terms “Bermuda Issuer Notes” and “

Separation Event. (a) Upon the occurrence of a Separation Event with respect to any member: (i) Such Member's Percentage Interest in the LLC shall, from and after the date of the Separation Event, be reduced to zero, and the Percentage Interest in the LLC of all Class B Members (exclusive of any Class B Member for whom a Separation Event has occurred) shall be increased by an aggregate amount equal to the amount of the Percentage Interest of the Member for whom the Separation Event has occurred (such increase to be allocated among them in proportion to their respective Percentage Interests immediately prior to the adjustment contemplated hereby). (ii) Such Member shall not be entitled to participate in any Investment made by the LLC from and after the date of the Separation Event. (iii) Such Member, if a Class B Member, shall have no right to vote on or participate in any decision or matter on or in which Class B Members are entitled to vote or participate and such Class B Member shall be disregarded for all purposes in determining the number of Class B Members which constitute a Majority in Number of the Class B Members. (iv) Such Member shall not be required to make any capital contributions to the LLC from and after the date of the Separation Event. (v) Such Member shall automatically and without any action on the part of the LLC, such Member or any other Member, be deemed to have withdrawn from the LLC on the first date on which the LLC no longer owns any Investment in which such Member has an Investment Percentage Interest. The Class B Members shall make all determinations under this Section 3.04 (including determinations as to when and whether a Separation Event has occurred, and the adjustment of the Percentage Interests of the Members in connection therewith), in their reasonable discretion. (b) Schedules A and B shall be amended as required to effectuate the provisions of this Section 3.04(b), any such amendments to be approved by a Majority in Number of the Class B Members and attached to this Agreement.

Separation Event. The occurrence of a Certificate Insurer Default with respect to the Class M Certificate Insurer.

Separation Event. If a Separation Event occurs at any time prior to the consummation of the Exchange Offer of the Units pursuant to this Agreement, all terms and conditions set forth under this Agreement shall apply to each of the U.S. Notes and U.K. Notes (as independent securities) and each of the defined terms "U.S. Notes" and the "U.K. Notes" shall replace "Units" where appropriate and applicable so that the U.S. Notes and U.K. Notes shall have the same rights and obligations under this Agreement as the Units had under this Agreement prior to the occurrence of such Separation Event.

Separation Event. The occurrence of a Certificate Insurer Default. SERVICER: American Business Credit, Inc., a Pennsylvania corporation, or any successor appointed as herein provided.

Separation Event. If a Separation Event occurs at any time prior to the consummation of the Exchange Offer of the Units pursuant to this Agreement, all terms and conditions set forth under this Agreement shall apply to each of the U.S. Notes and Dutch Notes (as independent securities) and each of the defined terms "U.S. Notes"