ABL Triggering Event definition

ABL Triggering Event meanss (a) the acceleration of the Term Obligations, (b) the delivery of notice by Term Agent to any Credit Party regarding a proposed Exercise of Secured Creditor Remedies by the Term Agent with respect to all or a material portion of the Term Loan Priority Collateral, (c) an Event of Default arising under there ABL Credit Agreement resulting from the failure by Borrower to pay principal or interest with respect to the ABL Obligations, (d) the commencement of an Insolvency Proceeding with respect to any Borrower, or (e) the Maturity Date (as defined in the ABL Credit Agreement as in effect as of the date hereof).
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Examples of ABL Triggering Event in a sentence

  • On or after the occurrence and during the continuance of a ABL Triggering Event, the ABL Secured Parties shall have the option at any time after the occurrence of such ABL Triggering Event and upon five (5) Business Days’ prior written notice by ABL Agent to Term Agent, to purchase all (but not less than all) of the Term Obligations from the Term Secured Parties.

Related to ABL Triggering Event

  • Company Triggering Event shall be deemed to have occurred if: (a) the Company shall have made a Company Board Adverse Recommendation Change; (b) the Company Board or any committee thereof shall have publicly approved, endorsed or recommended any Acquisition Proposal; or (c) the Company shall have entered into any letter of intent or similar document relating to any Acquisition Proposal in violation of the terms of the Agreement.

  • Subsequent Triggering Event means any of the following events or transactions occurring after the date hereof: (i) The acquisition by any person (other than Grantee or any Grantee Subsidiary) of beneficial ownership of 25% or more of the then outstanding Common Stock; or (ii) The occurrence of the Initial Triggering Event described in clause (i) of subsection (b) of this Section 2, except that the percentage referred to in clause (z) of the second sentence thereof shall be 25%.

  • Initial Triggering Event means any of the following events or transactions occurring after the date hereof:

  • Change of Control Triggering Event means the occurrence of both a Change of Control and a Rating Event.

  • Voting Rights Triggering Event means the failure of the Company to pay dividends on the Preferred Stock with respect to six or more quarterly periods (whether or not consecutive).