Discontinuance Event definition

Discontinuance Event means, with respect to any contract with a commercial or government (including defense) customer providing for Advance Payments, the occurrence of either (a) a termination of the program specified in such contract in respect of which such Advance Payments were made, or (b) a termination of such contract, in each case of the foregoing clauses (a) and (b), which results in a requirement under such contract for Holdings or any Subsidiary to repay the outstanding balance of any Advance Payments received thereunder.
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Discontinuance Event means, with respect to any contract with a commercial or government (including defense) customer providing for Advance Payments, the occurrence of either (a) a termination of the program specified in such contract in respect of which such Advance Payments were made, or (b) a termination of such contract, in each case of the foregoing clauses (a) and (b), which results in a requirement under such contract for any Loan Party or Subsidiary to repay the outstanding balance of any Advance Payments received thereunder.
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Discontinuance Event means, with respect to any contract with a commercial or government (including defense) customer providing for Advance Payments, the occurrence of either (a) a termination of the program specified in such contract in respect of which such Advance Payments were made, or (b) a termination of such contract, in eithereach case of the foregoing clauses (a) and (b), which results in a requirement under such contract for the Parent Guarantor or any of its Subsidiariesany Loan Party or Subsidiary to repay the outstanding balance of any Advance Payments received thereunder. “Disqualified Capital Stock” means any Equity Interest which, by its terms (or by the terms of any security into which it is convertible, or for which it is exchangeable), or upon the happening of any event, (a) matures (excluding any maturity as the result of an optional redemption by the issuer thereof) or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof, in whole or in part, on or prior to the date that is six (6) months following the Final Maturity Date, (b) is convertible into, or exchangeable (unless at the sole option of the issuer thereof) for, (i) debt securities, or (ii) any Equity Interests referred to in clause (a) above, in each case, at any time on or prior to the date that is six (6) months following the Final Maturity Date, or (c) contains any repurchase obligation (other than repurchase obligations with respect to the Parent Guarantor’s common Equity Interests issued to employees, officers and directors of the Parent Guarantor and itsLoan Parties and Subsidiaries upon death, disability, retirement, severance or termination of employment or service) which may come into effect prior to payment in full of all Obligations (other than contingent indemnification obligations under the Loan Documents that are not then due or claimed); provided, however, that, any Equity Interests that would not constitute Disqualified Capital Stock, but for provisions thereof giving holders thereof (or the holders of any security into, or for which, such Equity Interests is convertible, exchangeable or exercisable) the right to require the issuer thereof to redeem such Equity Interests upon the occurrence of a change in control or an asset saleAsset Sale occurring prior to the date that is six (6) months following the Final Maturity Date, shall not constitute Disqualified Capital Stock, if such Equity Interests provide th...
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Examples of Discontinuance Event in a sentence

  • Following the occurrence of a LIBOR Discontinuance Event, any Fallback Provisions that provide for a Benchmark Replacement based on or otherwise involving a poll, survey or inquiries for quotes or information concerning interbank lending rates or any interest rate based on LIBOR shall be disregarded as if not included in such contract, security or instrument and shall be deemed null and void and without any force or effect.

  • Nonetheless, there will still need to be a discussion among issuers and agents, and perhaps other third parties, to agree on, for example, who will determine whether a Benchmark Discontinuance Event has occurred and what is the applicable Replacement Benchmark and Replacement Benchmark Spread.

  • The Court therefore finds that CTG’s assertion that it will have a continuing right to exercise Section 6.2 remedies throughout the remaining term of the 2012 Agreement even if DEP takes action that constitutes a Discontinuance Event is not supported by, and is inconsistent with, the greater weight of the evidence as to the intent of the parties both at the time the 2004 Agreement was negotiated and at all times thereafter, including when entering the 2012 Agreement.

  • The owner/resident of the bed and breakfast accommodation shall must reside on-site at all times that while the bed and breakfast is in operation.

  • Index Discontinuance Date: In respect of an Index Discontinuance Event, the Index Calculation Failure Date or Index Cancellation Date, as applicable.

  • Index Discontinuance Event: The occurrence of an Index Calculation Failure or an Index Cancellation.

  • The lender should have the right to take the relevant action to unilaterally designate new loan terms for bilateral business loans simply by notice to the Borrower should a Benchmark Discontinuance Event occur provided that the lender follows the framework outlined in Appendix I or II.

  • Following the occurrence of a LIBOR Discontinuance Event, any Fallback Provisions in a contract, security or instrument that provide for a Benchmark Replacement based on or otherwise involving a poll, survey or inquiries for quotes or information concerning interbank lending rates or any interest rate or dividend rate based on LIBOR shall be disregarded as if not included in such contract, security or instrument and shall be deemed null and void and without any force or effect.

  • After submitting a Discontinuance Event, users will not be able to make any more changes or updates to the record.

  • In sum, the Court finds that the parties intended, understood, and agreed that if DEP takes an action defined as a Discontinuance Event under Section6.3 of the 2012 Agreement, Section 6.3 will then provide CTG’s sole remedy, but until DEP takes such an action, CTG can pursue its remedies under Section 6.2 on a month-to-month basis for any DEP short-term undersupply that is not otherwise excused.


More Definitions of Discontinuance Event

Discontinuance Event meansshall mean, with respect to any contract with a commercial or government (including defense) customer providing for Advance Payments, the occurrence of either (a) a termination of the program specified in such contract in respect of which such Advance Payments were made, or (b) a termination of such contract, in each case of the foregoing clauses (a) and (b), which results in a requirement under such contract for Parent or any Subsidiary to repay the outstanding balance of any Advance Payments received thereunder.
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Related to Discontinuance Event

  • Discontinuation Event means (i) when the Commission notifies the Company whether there will be a “review” of such Registration Statement and whenever the Commission comments in writing on such Registration Statement (the Company shall provide true and complete copies thereof and all written responses thereto to each of the Holders); (ii) any request by the Commission or any other Federal or state governmental authority for amendments or supplements to such Registration Statement or Prospectus or for additional information; (iii) the issuance by the Commission of any stop order suspending the effectiveness of such Registration Statement covering any or all of the Registrable Securities or the initiation of any Proceedings for that purpose; (iv) the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding for such purpose; and/or (v) the occurrence of any event or passage of time that makes the financial statements included in such Registration Statement ineligible for inclusion therein or any statement made in such Registration Statement or Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires any revisions to such Registration Statement, Prospectus or other documents so that, in the case of such Registration Statement or Prospectus, as the case may be, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.

  • Discontinuance Notice means the written Notice sent by the Billing Party to the other Party that notifies the Non- Paying Party that in order to avoid disruption or disconnection of the Interconnection Services, furnished under this Agreement, the Non-Paying Party must remit all Unpaid Charges to the Billing Party within fifteen (15) calendar days following receipt of the Billing Party’s Notice of Unpaid Charges.

  • Discontinuance means the state of a policy that could arise on account of surrender of the policy or non-payment of the contractual premium due before the expiry of the grace period.

  • Reduction Event means any of the following:

  • Notice Event means any of the events enumerated in paragraph (b)(5)(i)(C) of the Rule and listed in Section 4(a) of this Disclosure Agreement.

  • Suspension/Withdrawal Event means, in respect of the Benchmark:

  • ERISA Termination Event means (i) a “Reportable Event” described in Section 4043 of ERISA and the regulations issued thereunder (other than a “Reportable Event” not subject to the provision for 30-day notice to the PBGC under such regulations), or (ii) the withdrawal of a Borrower or any of its ERISA Affiliates from a “single employer” Plan during a plan year in which it was a “substantial employer”, both of such terms as defined in Section 4001(a) of ERISA, or (iii) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section 4041 of ERISA, or (iv) the institution of proceedings to terminate a Plan by the PBGC or (v) any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan or (vi) the partial or complete withdrawal of a Borrower or any ERISA Affiliate of such Borrower from a “multiemployer plan” as defined in Section 4001(a) of ERISA.

  • Incipient Event of Termination means an event that but for notice or lapse of time or both would constitute an Event of Termination.

  • Flip-in Event means a transaction in or pursuant to which any Person becomes an Acquiring Person;

  • Event shall have the meaning set forth in Section 2(d).

  • Realization Event means (i) the consummation of a Sale of the Company; or (ii) any transaction or series of related transactions in which the Investor sells at least 50% of the Shares directly or indirectly acquired by it (from the Company or otherwise) and at least 50% of the aggregate of all Investor Investments.

  • Suspension/Withdrawal Event means, in respect of the Benchmark:

  • Load Reduction Event means a reduction in demand by a Member or Special Member for the purpose of participating in the PJM Interchange Energy Market.

  • Benchmark Modification or Cessation Event means, in respect of the Benchmark any of the following has occurred or will occur:

  • Occurrence means an accident, including continuous or repeated exposure to substantially the same general harmful conditions.

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Acceleration Event means the occurrence of an Event of Default (a) in respect of which Agent has declared all or any portion of the Obligations to be immediately due and payable pursuant to Section 10.2, (b) pursuant to Section 10.1(a), and in respect of which Agent has suspended or terminated the Term Loan Commitment pursuant to Section 10.2, and/or (c) pursuant to either Section 10.1(e) and/or Section 10.1(f).

  • Termination Fee Event has the meaning ascribed thereto in Section 5.2(a);

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Continuance means a change in the date or time of when a brief adjudicative proceeding or formal administrative hearing will occur.

  • Section 13 Event means any event described in clauses (x), (y) or (z) of Section 13(a) hereof.

  • Delay Event means any event set out at Clause 5.19.4 [Delay Events].

  • Covenant Trigger Period means the period (a) commencing on the day that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $20,000,000 and (b) continuing until, at all times thereafter for a period of 30 consecutive days during which, (i) no Event of Default exists and (ii) Availability shall have been not less than the greater of (x) 10% of Available Credit and (y) $20,000,000.

  • OBFR Index Cessation Event means the occurrence of one or more of the following events:

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • Special event permit means a permit granted by the Division