Springing Maturity Date Sample Clauses
A Springing Maturity Date clause establishes a new, earlier maturity date for a loan or debt obligation if certain specified events occur, such as the failure to refinance or repay another related debt by a particular deadline. In practice, this clause is often triggered when a borrower has multiple layers of debt, and the maturity of a junior or pari passu obligation is set to "spring" forward if a senior or related facility is not addressed in time. The core function of this clause is to protect lenders by ensuring that their loans are not left outstanding when related debts become due, thereby reducing refinancing risk and potential default exposure.
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Springing Maturity Date. The Notes will mature (x) if the Springing Maturity Condition does not apply, on June 15, 2028, or (y) if the applicable Springing Maturity Condition does apply, the applicable Springing Maturity Date; provided that, if such day is not a Business Day, the Springing Maturity Date shall be the Business Day immediately succeeding such day. Any provisions relating to the determination of a minimum tenor, maturity or weighted average life with respect to any permitted Indebtedness (including without limitation Refinancing Indebtedness) in this Indenture shall assume (solely for purposes of such determination) that June 15, 2028 is the maturity date of the Notes.
Springing Maturity Date. The Notes will mature on December 1, 2022, or on such earlier date (any such date, a “Springing Maturity Date”) when any outstanding Pari Passu Lien Indebtedness (other than the 2019 Notes) matures as a result of the operation of any “Springing Maturity” provision set forth in the agreements governing such Pari Passu Lien Indebtedness (as the same may be amended or waived from time to time) (any such occurrence, a “Springing Maturity Event”). Any provisions relating to the determination of a minimum tenor, maturity or weighted average life with respect to any permitted Indebtedness (including without limitation Refinancing Indebtedness) in this Indenture shall assume (solely for purposes of such determination) that December 1, 2022 is the maturity date of the Notes.
Springing Maturity Date. The Notes will mature (x) if the Springing Maturity Condition does not apply, on April 15, 2025, or (y) if the Springing Maturity Condition does apply, the Springing Maturity Date. Any provisions relating to the determination of a minimum tenor, maturity or weighted average life with respect to any permitted Indebtedness (including without limitation Refinancing Indebtedness) in this Indenture shall assume (solely for purposes of such determination) that April 15, 2025 is the maturity date of the Notes.
Springing Maturity Date. The Notes will mature (x) if the Springing Maturity Condition does not apply, on the Maturity Date, or (y) if the Springing Maturity Condition does apply, either the Springing Maturity Date for the 2020 Notes or the Springing Maturity Date for the 2023 Notes, as applicable; provided that, if such day is not a Business Day, the maturity date shall be the Business Day immediately succeeding such day (any such date, a “Springing Maturity Date”). Any provisions relating to the determination of a minimum tenor, maturity or weighted average life with respect to any permitted Indebtedness (including without limitation Refinancing Indebtedness) in this Indenture shall assume (solely for purposes of such determination) that November 1, 2024 is the maturity date of the Notes.