Assumption Event definition

Assumption Event means the election by the Facility Lessee to assume the Lessor Notes pursuant to Section 10.2(b) or Section 13.4 of the Facility Lease.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Assumption Event means the event giving rise to the exercise of the purchase option referred to in Section 21 or 26 of the Participation Agreement or Section 11(b)(iv)(Y) of the Guarantee in respect of which the Charterer shall have given notice of its election or Section 11 of the Guarantee.

Assumption Event means the election by the Facility Lessee to ---------------- assume the Lessor Notes pursuant to Section 10.2(b) or Section 13.4 of the Facility Lease.

Examples of Assumption Event in a sentence

If there shall have occurred a Trust Assumption Event, the Issuer or the Trust, at either the Issuer's or the Trust's option, may elect to redeem Securities in accordance with the provisions thereof and of this Indenture.
Within 15 days after the occurrence of a Trust Assumption Event, the Issuer or the Trust shall mail notice of the Trust Assumption Event (the "Trust Assumption Event Notice") by first-class mail to the Trustee and to each Holder (and to beneficial owners as required by applicable law).
The Issuer or the Trust shall give notice to the Trustee provided for in this Section at least 30 days but not more than 60 days before the Trust Assumption Event Redemption Date unless the Trustee consents to a shorter period.
The Trustee shall make the selection at least 30 days but no more than 60 days before the Trust Assumption Event Redemption Date from outstanding Securities not previously called for redemption.
At least 30 days but not more than 60 days before a Trust Assumption Event Redemption Date, the Issuer or the Trust shall mail a notice of redemption by first-class mail to each Holder of Securities to be redeemed at such Holder's registered address.
In the event of a Share Separation, the Securities shall not be convertible in Shares, but shall instead be convertible solely into Corporation Shares except upon a Trust Assumption Event.
At the Issuer's or the Trust's request, the Trustee shall give such Trust Assumption Event Notice in the name of the Issuer or the Trust and at the Issuer's or the Trust's expense; provided, however, that, in all cases, the text of such Purchase Notice shall be prepared by the Issuer or the Trust.
If either the Issuer or the Trust elect to redeem Securities, it shall notify the Trustee in writing of the date of redemption (the "Trust Assumption Event Redemption Date"), which date shall be a date not later than 60 days after the effective date of the Trust Assumption Event, the Principal Amount at Maturity of Securities to be redeemed and the Trust Assumption Event Redemption Price.
Upon surrender to the Paying Agent, such Securities shall be paid at the Trust Assumption Event Redemption Price stated in the notice.
On each Trust Assumption Event Redemption Date and Trust Assumption Event Purchase Date, the Trust Assumption Event Purchase Price of Securities in respect of which a notice of redemption pursuant to Section 3.15(a) or a Purchase Notice pursuant to Section 3.15(b) has been given, shall be paid by the Issuer or the Trust, as the case may be, with cash equal to the aggregate Trust Assumption Event Purchase Price of such Securities.

More Definitions of Assumption Event

Assumption Event means a Midwest Assumption Event or an Owner Participant Assumption Event.

Assumption Event means, with respect to any Ceded Policy, the occurrence of any of the following:

Assumption Event has the meaning ascribed to it in Section 19.9;

Assumption Event means a Midwest Assumption Event or an Owner Participant Assumption Event. "ELIGIBLE SUCCESSOR" means (a) in the case of a Midwest Assumption Event, a designee of Midwest (i) which shall be a direct or indirect wholly-owned Subsidiary of EME (other than Midwest) or another Person acceptable to the Holders (in their sole discretion), (ii) that is a "United States person" within the meaning of Section 7701(a)(30) of the Code and (iii) that is not (A) an "investment company" or a company "controlled" by and "investment company" within the meaning of the Investment Company Act of 1940, as amended or (B) subject to regulation under PUHCA except pursuant to Section 9(a)(2) or Section 32 thereof and (b) in the case of an Owner Participant Assumption Event, a direct or indirect wholly-owned Subsidiary of Public Service Enterprise Group, Inc. or another person acceptable to the Holders (in their sole discretion) (i) that is a "United States person" within the meaning of Section 7701(a)(30) of the Code and (ii) that is not (1) an "investment company" or a company "controlled" by and "investment company" within the meaning of the Investment Company Act of 1940, as amended or (2) subject to regulation under PUHCA except pursuant to Section 9(a)(2) or Section 32 thereof. "HOLDER" means a holder of a Lessor Note. "INDENTURE ESTATE" has the meaning assigned to such term in the granting clause. "INDENTURE ESTATE DOCUMENTS" has the meaning assigned to such term in the Granting Clause. "INTEREST PAYMENT DATE" has the meaning assigned to such term in Section 2.4(b) hereof. "LEASE DEFAULT" means a Lease Event of Default or any condition, occurrence or event which, with notice or lapse of time or both, would constitute a Lease Event of Default. "LEASE INDENTURE DEFAULT" means a Lease Indenture Event of Default or any condition, occurrence or event which, with notice or lapse of time or both, would constitute a Lease Indenture Event of Default. "LEASE INDENTURE EVENT OF DEFAULT" has the meaning assigned to such term in Section 4.2 hereof.