Company's Interest definition
Examples of Company's Interest in a sentence
Any obligations of the Company under this Agreement are not binding upon the Board of Managers or the Company's Interest holders individually but are binding only upon the assets and property of the Company.
The incurrence of any additional indebtedness (including guarantees and including renegotiations and restructurings of existing indebtedness) if, as a result thereof, the Company's Interest Expense Coverage Ratio would be less than 2.0 to 1.0. Notwithstanding anything to the contrary contained herein, the Approval Rights of SCG shall terminate and be of no further force or effect at such time as SCG Beneficially Owns less than 25% of the Common Shares outstanding.
In the event of the Employee's death during the Coverage Period, the Company will be entitled to receive from the Proceeds of the Policies an amount equal to the Company's Interest in the Policies and the remainder of the Proceeds of the Policies will be paid to such beneficiary as the Employee may have designated under the terms of the Policies, or failing such designation, to the Employee's estate.
In addition to the obligations under Section 3.2, Company will be obligated to contribute Company's Interest share of all direct permitting and regulatory costs incurred by Chevron subsequent to the Effective Date of this Agreement on the Lease(s) subject hereto.
To secure the Executive's obligation to pay the Company the Company's Interest, the Executive has, contemporaneously herewith, assigned the Policy to the Company as collateral, pursuant to the form attached hereto as Exhibit B, which collateral assignment specifically provides that the sole right and interest of the Company in the Policy is to be paid the Company's Interest pursuant to the terms of Section 5 and Section 6 hereof.
The Company's Interest Coverage Ratio, measured on a Consolidated basis at each Measuring Date, shall never be less than 3.25:1 for each Measuring Date through and including September 30, 2002, and 4.50:1 for each Measuring Date thereafter.
The Participant understands that neither the Company's Interest nor any of the Note Docments has been registered or qualified under any applicable securities laws and that the transfer of each thereof is restricted by such laws.
Upon the Company's receipt of the Company's Interest or as provided in Section 7 hereof, the Company shall release the collateral assignment of the Policy, by execution and delivery to the Executive of an appropriate instrument of release.
Upon receipt of the Company's Interest in any of the Additional Policies, the Company will promptly release the Collateral Assignment thereof.
Any obligations of a Company under this Agreement are not binding upon the Board of Managers or the Company's Interest holders individually but are binding only upon the assets and property of the Company.