Deposit Conditions definition

Deposit Conditions means, with respect to any Excluded Interim Debt, the satisfaction (and continued satisfaction) of each of the following conditions with respect to such Indebtedness: (x) Net Cash Proceeds of the related new issuance of Indebtedness under Section 7.03(j) in an amount equal to such Excluded Interim Debt is deposited by the Borrowers with the Administrative Agent and maintained in a blocked deposit account at Bank of America, N.A. pending the redemption, repayment, discharge or other satisfaction thereof and such deposit account is pledged to the Administrative Agent for the benefit of the Secured Parties to secure the Obligations (it being acknowledged that such funds shall be released in connection with the redemption, repayment, discharge or other satisfaction of such Excluded Interim Debt in a manner that does not violate the terms of the Excluded Interim Debt); (y) the Borrowers shall commence the redemption, repayment, discharge or other satisfaction of such Excluded Interim Debt in a manner that does not violate the terms of the Excluded Interim Debt (subject to any contractual notice periods required therein) within five (5) Business Days following the consummation of the applicable Refinancing Event resulting in such Excluded Interim Debt; and (z) such Excluded Interim Debt is in fact redeemed, repaid, discharged or otherwise satisfied as soon as practicable under the terms governing such Excluded Interim Debt and, in any event, within 90 days following the consummation of the related Refinancing Event.

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Deposit Conditions means, with respect to any Excluded Interim Sub Debt, the satisfaction (and continued satisfaction) of each of the following conditions with respect to such Indebtedness: (x) Net Cash Proceeds of the related new issuance of Senior Subordinated Debt in an amount equal to such Excluded Interim Sub Debt is deposited by the Borrowers with the Administrative Agent and maintained in a blocked deposit account at Bank of America pending the redemption, repayment, discharge or other satisfaction thereof and such deposit account is pledged to the Administrative Agent for the benefit of the Secured Parties to secure the Obligations (it being acknowledged that such funds shall be released in connection with the redemption, repayment, discharge or other satisfaction of such Excluded Interim Sub Debt in a manner that does not violate the terms of the Senior Subordinated Debt Documents governing such Excluded Interim Sub Debt); (y) the Borrowers shall commence the redemption, repayment, discharge or other satisfaction of such Excluded Interim Sub Debt in a manner that does not violate the terms of the Senior Subordinated Debt Documents governing such Excluded Interim Sub Debt (subject to any contractual notice periods required therein) within five (5) Business Days following the consummation of the applicable Sub Debt Refinancing resulting in such Excluded Interim Sub Debt; and (z) such Excluded Interim Sub Debt is in fact redeemed, repaid, discharged or otherwise satisfied as soon as practicable under the Senior Subordinated Debt Documents governing such Excluded Interim Sub Debt and, in any event, within ninety (90) days following the consummation of the related issuance of Senior Subordinated Debt that resulted in such Excluded Interim Sub Debt; The failure of any of the foregoing conditions to be met at any time with respect to any Interim Sub Debt shall cause such Interim Sub Debt to cease to be Excluded Interim Sub Debt; and In connection with the issuance of any new Senior Subordinated Debt (including any Sub Debt Refinancing), the Borrowers hereby agree to provide the Administrative Agent with all consents and other documentation as the Administrative Agent shall reasonably require.

Deposit Conditions means, with respect to any Interim Parent Notes, the satisfaction (and continued satisfaction) of each of the following conditions with respect to such Indebtedness: (x) net cash proceeds of the related new issuance of Replacement Parent Notes in an amount equal to such Interim Parent Notes is deposited by the Parent in the Full Dominion Account in accordance with Section 13.2(a)(ii) pending the repurchase, redemption, repayment, discharge or other satisfaction thereof; and (y) such Interim Parent Notes are in fact repurchased, redeemed, repaid, discharged or otherwise satisfied as soon as practicable and, in any event, by no later than the Existing Parent Notes Maturity Date.

Examples of Deposit Conditions in a sentence

The deposit is only refundable under the following circumstances: Part of School Amount of Deposit Conditions for Return of Deposit Nursery One month's fees No payments are outstanding, Parents give one month's notice in writing of termination and such notice is given after the child has started at the Nursery.
The day (in the country in which the relevant Warrant(s) is or are deposited for exercise) on which the Deposit Conditions are fulfilled, or (if fulfilled on different days) on which the last of the Deposit Conditions is fulfilled, is referred to in these Conditions as the “Deposit Date” applicable to such Warrant(s).
The day (in the country in which the relevant Warrant(s) is or are deposited for exercise) on which the Deposit Conditions are fulfilled, or (if fulfilled on different days) on which the last of the Deposit Conditions is fulfilled, is referred to in these Terms and Conditions as the "Deposit Date" applicable to such Warrant(s).
In the event that any of the Deposit Conditions cease to be met on any date, including that such Excess Interim Sub Debt is outstanding for more than ninety (90) days, such Excess Interim Sub Debt shall no longer be permitted Indebtedness under this Section 10.2.3(j)).
Once the Deposit Conditions have been fulfilled, neither the relevant Certificate(s) nor the relevant Exercise Notice may be withdrawn from deposit without the consent in writing of the Issuer, but the relevant Warrant(s) shall not be cancelled before the close of banking business in Seoul on the Subscription Date.
Notwithstanding any other provision of this Agreement, this Agreement shall not become effective unless and until the Escrow Deposit Conditions have been met, provided that if the Escrow Deposit Conditions have not been met on or before August 9, 2007, this Agreement shall terminate and be null and void, incapable of enforcement as to any provision by any Party, and without liability to any Party whatsoever.
Once the Deposit Conditions have been fulfilled, neither the relevant Warrant(s) nor the relevant Exercise Notice may be withdrawn from deposit without the consent in writing of the Issuer, but the relevant Warrant(s) shall not be cancelled before the Subscription Date.
The deposit is only refundable under the following circumstances: Part of School Amount of Deposit Conditions for Return of Deposit Nursery One month's fees No payments are outstanding and Parents give one month's notice in writing of termination.

More Definitions of Deposit Conditions

Deposit Conditions means each of the following is true as of the date of the applicable termination: (i) Buyer’s Phase 1 Due Diligence Period has expired in accordance with the terms set forth herein, (ii) the Closing Conditions set forth in Section 7.01(a) have been satisfied, (iii) the Company and GRA have been in material compliance with Section 6.01 since the date of this Agreement, (iv) the Use Agreement Summary is materially accurate, and (v) the representations and warranties of Seller, the Company and GRA contained in Article III are true and correct in all material respects (except for such representations and warranties that are qualified by their terms by a reference to materiality or Material Adverse Effect, which representations and warranties as so qualified shall be true and correct in all respects) as though made at and as of such date (except those representations and warranties that address matters only as of a specified date, which shall be true and correct in all respects as of that specified date).