Equity Offset definition

Equity Offset has the meaning given to such term in Section 2.01.17 of this Agreement.
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Equity Offset means any net pre-tax gains in respect of Common Stock received by a Participant in connection with the Change in Control, including but not limited to amounts received with respect to such Participant’s outstanding restricted Common Stock or options to purchase Common Stock.
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Examples of Equity Offset in a sentence

  • The Floor Plan Borrowers hereby authorize the Administrative Agent, in its discretion, to apply the Equity Offset to payments due to M&T under the M&T Advances.

  • At the end of each month (or, at the election of the Administrative Agent, on the Floor Plan Loan Adjustment Date occurring in the fourth calendar week of any calendar month), the Equity Offset interest accrued shall be applied to accrued and unpaid interest on account of the Floor Plan Loans as billed by the Administrative Agent, reducing, pro-rata, the interest receivable of each Floor Plan Lender.

  • Interest accrued in the Equity Offset shall not exceed the aggregate Loan interest receivable of the Floor Plan Lenders at any given time, and Equity Offset excess balances shall automatically transfer to a secondary non-interest bearing Equity Offset.

  • This Floor Plan Interest Reduction Arrangement, the Equity Balances and Equity Offset, and funds therein shall not, in any event, affect curtailments or other principal payments due on account of the Floor Plan Loans or reduce the outstanding amount of the Floor Plan Loans for purposes of determining availability under the Floor Plan Line of Credit.

  • At the end of each month (or, at the election of the Administrative Agent, on the Floor Plan Loan Adjustment Date occurring in the fourth calendar week of any calendar month), the Equity Offset interest accrued shall be applied to accrued and unpaid interest on account of the Floor Plan Loans as billed by the Administrative Agent, reducing, pro-rata, the interest receivable of each Lender.

  • The Borrowers hereby authorize the Administrative Agent, in its discretion, to apply the Equity Offset to payments due to M&T under the M&T Advances.

  • The Administrative Agent and the Required Lenders have agreed to enter into this Amendment with the Obligors in order to provide for the Audit Extension, to amend the Credit Agreement to provide for the Equity Offset Amendment, and to amend the Credit Agreement in certain other respects in connection therewith, upon the terms and conditions set forth herein.

  • In addition, M&T Bank and the Borrowers desire to terminate their Equity Offset Agreements in their existing form and replace all of them with a new provision in the Credit Agreement as set forth below in this Amendment (“Equity Offset Amendment”).

  • Under the Floor Plan Equity Offset Arrangement, the Borrowers may, at their election, deliver cash, checks or other good funds instruments to the Administrative Agent (“Equity Transaction”) to be held as Collateral and security for the Obligations for the pro-rata benefit of the Lenders, and the Administrative Agent agrees to account to the Borrowers for the total of such deliveries (such deliveries, the “Equity Balance”).

  • Interest accrued in the Equity Offset shall not exceed the aggregate Loan interest receivable of the Lenders at any given time, and Equity Offset excess balances shall automatically transfer to a secondary non-interest bearing Equity Offset.