Default Purchase Option definition

Default Purchase Option has the meaning given in Section 4.5(b).
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Default Purchase Option means the option granted to the Indenture Trustee on behalf of the Second Mortgage Note Holders pursuant to Section 6 hereof to purchase the Bank Secured Obligations.
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Default Purchase Option. Section 15.1.
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Examples of Default Purchase Option in a sentence

  • This City right is separate and distinct from the Default Purchase Option described above and no other provisions of this Section 17 shall limit or invalidate City's rights contained in this paragraph.

  • The Default Purchase Option is given in consideration of the economic benefits received by Owner from ownership of the Residence made possible by City requiring the Developer to sell the Residence at less than its fair market value.


More Definitions of Default Purchase Option

Default Purchase Option means the option granted to a representative on behalf of the Second Lien Secured Parties pursuant to Section 7 to purchase all but not less than all of the First Lien Secured Obligations.
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Default Purchase Option means the right (without any obligation) to purchase, at any time in the period that begins when all commitments to extend credit
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Default Purchase Option means the right (without any obligation) to purchase, at any time in the period that begins when all commitments to extend credit constituting all Priority Lien Indebtedness have terminated and all Priority Lien Indebtedness has matured (whether at the stated maturity, upon acceleration or otherwise, including by virtue of the commencement of an Insolvency or Liquidation Proceeding) and ends on the 20th Business Day after receipt by the Trustee of written notice of such maturity or termination from the Priority Lien Agent, all, but not less than all, of the principal of and interest on and all prepayment or acceleration penalties and premiums in respect of all Priority Lien Indebtedness outstanding at the time of purchase and all other Priority Lien Obligations (except Unasserted Contingent Obligations) then outstanding, together with all Liens securing such Priority Lien Indebtedness and all Guarantees and other supporting obligations relating to such Priority Lien Indebtedness:
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Related to Default Purchase Option

  • Purchase Option Notice As defined in Section 3.18(e).

  • Purchase Option Price means the amount payable by a Lessee upon the exercise of its option to purchase a related 2024-1 Vehicle which amount equals (a) with respect to a Matured Vehicle, the Contract Residual Value plus any fees, taxes and other charges imposed in connection with such purchase and (b) with respect to a related 2024-1 Vehicle for which the related 2024-1 Lease has been terminated early by the Lessee, the sum of (i) any unpaid Monthly Payments due, (ii) any fees, taxes and other charges imposed in connection with the related 2024-1 Lease, (iii) an early termination fee and (iv) the Actuarial Payoff.

  • Repurchase Option has the meaning set forth in Section 1.3(a) hereto.

  • Conversion Right has the meaning set forth in Section 4.05(a) hereof.

  • Purchase Option As defined in Section 3.18(c).

  • Conversion Option means the Company’s option to convert some or all of the Series D Preferred Stock into that number of shares of Common Stock that are issuable at the then-applicable conversion rate as described in Section 8(c) of these Articles Supplementary.

  • Note Shares means the shares of Common Stock issuable upon conversion of the Notes.

  • Conversion Securities has the meaning set forth in Section 4.08(b).

  • Put Right has the meaning set forth in Section 8.05(a).

  • Warrant Securities means this Warrant and the Warrant Shares, collectively.

  • Early Preference Share Redemption Notice means a notice of early redemption of some or all of the Preference Shares given by or on behalf of the Company in accordance with Condition 6 (Notices).

  • Series A Warrants means, collectively, the Common Stock purchase warrants delivered to the Purchasers at the Closing in accordance with Section 2.2(a) hereof, which Warrants shall be exercisable immediately from the Closing Date and have a term of exercise equal to five (5) years, in the form of Exhibit A attached hereto.

  • SPAC Warrants means SPAC Private Warrants and SPAC Public Warrants, collectively.

  • Series A Purchase Agreement means the Series A Preferred Unit Purchase Agreement, dated as of June 20, 2017, by and among the Partnership and the Series A Purchasers thereunder, as may be amended from time to time.

  • Option Warrants shall have the meaning ascribed to such term in Section 2.2(a).

  • Conversion Rights means exchange of, or the rights to exchange, the Principal Amount of the Loan, or any part thereof, for fully paid and nonassessable Common Stock on the terms and conditions provided in the Debentures.

  • Series C Warrants means, collectively, the Series C Common Stock purchase warrants delivered to the Purchasers at the Closing in accordance with Section 2.2(a) hereof, which Warrants shall vest and be exercisable ratably commencing on the exercise of the Series B Warrants held by the Purchaser (or its assigns) and have a term of exercise equal to 5 years from the date of issuance, in the form of Exhibit C attached hereto.

  • Rights Offering Shares means, collectively, the shares of New Common Stock issued in the Rights Offering.

  • Shoe Option means the Initial Purchasers’ option to purchase up to seventy five million dollars ($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement.

  • Series B Warrants means, collectively, the Series B Common Stock purchase warrants delivered to the Purchasers at the Closing in accordance with Section 2.2(a) hereof and the other Series B Warrants contemplated under Section 2.1 to be issued concurrently at the Closing, which Series B Warrants shall be exercisable beginning immediately and have a term of exercise equal to five (5) years, in the form of Exhibit B-2 attached hereto.

  • Series D Warrants means, collectively, the Common Stock purchase warrants delivered to the Purchasers at the Closing in accordance with Section 2.2(a) hereof, which Warrants shall be exercisable immediately upon issuance and have a term of exercise equal to five (5) years, in the form of Exhibit C attached hereto.

  • First Refusal Right means the right granted to the Corporation in accordance with Article E.

  • Registration Notice has the meaning specified in Section 2.1(a).

  • Conversion Shares means, collectively, the shares of Common Stock issuable upon conversion of the shares of Preferred Stock in accordance with the terms hereof.

  • Series A Redemption Notice has the meaning set forth in Section 16.6(b).

  • Optional Redemption Notice shall have the meaning set forth in Section 6(a).