Defaulting Holder definition

Defaulting Holder shall have the meaning given to such term in Section 12.4 of the Participation Agreement.

Defaulting Holder has the meaning specified in Section 3.02(c).

Defaulting Holder has the meaning set forth in Section 11 hereof.

Examples of Defaulting Holder in a sentence

• Accordingly the Company has reached agreement with John (Jay) W Jordan II and David Zalaznick whereby each has conditionally and irrevocably undertaken to acquire free of any commissions or charges, at the Issue Price, such number of the Forced Sale Shares as are the subject of a Required Disposal and not disposed of by the Defaulting Holder within the time specified in the notice, the proceeds of any Required Disposal being for the account of the Defaulting Holder.

• During such time as an Investor is a Defaulting Holder, that person’s rights in respect of the Trust and any rights attaching to that person’s Units, including the right to vote and receive distributions, are suspended until reinstated by the Responsible Entity in accordance with the Constitution.

• The Company has also agreed to give an unlimited indemnity to John (Jay) W Jordan II and David Zalaznick against any claims which may be brought by any Defaulting Holder in relation to the Required Disposal.

• An Investor may be liable to the Responsible Entity for any costs incurred by the Responsible Entity or the Trust in respect of the Investor being a Defaulting Holder.

• The Defaulting Holder shall, upon receipt of the foregoing, pay the aggregate purchase price for the Drag Default Shares and the amount of reimbursable fees and expenses, in cash by wire transfer of immediately available funds or by other means acceptable to the Drag-Along Holders.

More Definitions of Defaulting Holder

Defaulting Holder means any holder of Series A Preferred Stock that has been deemed to be, and continues to be, a defaulting holder under section 1(c) of such holder's Subscription Agreement.

Defaulting Holder. A Class A-1R Noteholder that has at any time failed to discharge its obligations with respect to funding Borrowings when and as required hereunder (other than failures so to fund (a) solely as a result of a bona fide dispute as to whether the conditions to borrowing were satisfied on the relevant Class A-1R Borrowing Date, but only for such time as such Class A-1R Noteholder is continuing to engage in good faith discussions regarding the determination or resolution of such dispute or (b) solely as a result of a failure to so fund due to an administrative error or omission by such Class A-1R Noteholder, unless such failure continues for five Business Days after such Class A-1R Noteholder receives written notice or has actual knowledge of such administrative error or omission).

Defaulting Holder has the meaning provided in the Class A-2 Purchase Agreement.

Defaulting Holder. The meaning specified in the Class A-R Purchase Agreement.

Defaulting Holder means any Holder that, as reasonably determined by the Administrative Agent, has (a) failed to (i) fund any portion of its Term Commitment or (ii) pay over to the Administrative Agent or any other Holder any other amount required to be paid by it hereunder (“Holder Funding Obligations”) within two (2) Business Days of the date required to be funded by it hereunder unless, in the case of clause (i) above, such Holder notifies the Administrative Agent in writing that such failure is the result of such Holder’s good faith determination that a condition precedent to funding (specifically identified and including the particular Default or Event of Default, if any) has not been satisfied, (b) notified the Company, the Administrative Agent or any Holder in writing, or has otherwise indicated through a public statement, that it does not intend to comply with its Holder Funding Obligations (unless such writing or public statement indicates that such position is based on such Holder’s good faith determination that a condition precedent to funding a Term Loan under this Agreement (specifically identified and including the particular Default or Event of Default, if any) cannot be satisfied) or generally under agreements in which it commits to extend credit, (c) failed, within three (3) Business Days after receipt of a written request from the Administrative Agent or the Company, to confirm that it will comply with the terms of this Agreement relating to Holder Funding Obligations, provided that such Holder shall cease to be a Defaulting Holder pursuant to this clause (c) upon receipt of such certification by the Administrative Agent and the Company, or (d) become (or has a Parent Company that has become) the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, custodian, administrator, examiner, liquidator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business appointed for it, provided that a Holder shall not qualify as a Defaulting Holder solely as a result of the acquisition or maintenance of an ownership interest in such Holder or Parent Company, or the exercise of control over such Holder or any Person controlling such Holder, by a Governmental Authority so long as such ownership interest or exercise of control does not result in or provide such Holder with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or ...

Defaulting Holder has the meaning given in Section 9.02(b) of this Agreement.

Defaulting Holder means any Holder or, in the case of items (e) and (f) below, its Holder Parent: