DOWN PERIOD definition

DOWN PERIOD. The “Wind Down Period” shall mean the period of time from the Effective Date through and including the date upon which the Court dismisses the Lawsuit, and includes both the Opt-In Period and the Claims Administration Period.
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DOWN PERIOD means a period during which the Corporation shall not be entitled to issue a new facility of Debentures without the Investor’s prior written consent, where such period commences as of and from each Closing Date and ends on the date that is the 16th trading day after such Closing Date; provided that the duration of the Cool Down Period shall be automatically extended by such number of trading days as is equal to the lesser of (x) the sum of: (i) the number of trading days (beyond the five (5) trading days permitted upon receipt of a Conversion Notice or a Warrant Exercise Notice, as applicable) of the Corporation’s delay in delivering Common Shares upon the conversion of the Debentures or the exercise of the Warrants; (ii) the number of trading days the Common Shares are suspended from trading on any stock exchange on which they are normally traded; (iii) the number of trading days where the Investor is prevented from trading in the Common Shares on any stock exchange on which they are normally traded for reasons attributable to the Corporation, including any breach of the Corporation’s representations, warranties, certifications, covenants or obligations under this Subscription Agreement or any accompanying agreement; and (iv) if the Corporation issues new Common Shares from treasury to a third party during the Cool Down Period (other than pursuant to the terms and conditions of any securities of the Corporations outstanding as of the date of this Subscription Agreement), the number of trading days calculated by X multiplied by (1+Y) where “X” is the number of trading days that were left in the applicable Cool Down Period at the time of the issuance and “Y” is the ratio of (A) the value of the Common Shares issuance to the third party priced at the highest daily VWAP observed over the five (5) trading days preceding their issuance to (B) the aggregate principle amount of the Debentures issued to the Investor under this Subscription Agreement that remain outstanding, and (y) 14 trading days;
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Examples of DOWN PERIOD in a sentence

  • During each calendar year, there shall be a period of fifteen (15) consecutive days (the "CLEAN DOWN PERIOD") during which (a) there are no Loans outstanding under the Working Capital/Distribution Subfacility, and (b) no Loans will be made under the Working Capital/Distribution Subfacility.

  • Provided Borrower is otherwise in compliance with the terms and conditions of this Line of Credit Promissory Note ("Note") and the additional loan documents executed now or in the future in connection with this Note, Borrower may draw against this Note from time to time in such amounts as Borrower desires up to a maximum of Two hundred Thousand Dollars ($200,000) from the date hereof to and including the THIRD (3RD) ANNIVERSARY DATE of this Note ("DRAW DOWN PERIOD").

  • ONCE THE STAND DOWN PERIOD IS OVER, THE COMPANY WANTS YOU BACK AT WORK.