Exempt Payments definition

Exempt Payments shall have the meaning specified in Section 11.2(e) of the Participation Agreement.

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Exempt Payments has the meaning set forth in Section 7.1.

Exempt Payments means the following:

Examples of Exempt Payments in a sentence

• The “280G Waived Payments” are those Payments under the Award or otherwise that are subject to the 280G Vote, provided that, prior to the Company’s solicitation of approval by the Company’s stockholders in the 280G Vote, the Management Partner has agreed to waive the Management Partner’s right to receive or retain (as applicable) those Payments in the event that approval by the Company’s stockholders necessary to deem the Payments as Exempt Payments is not obtained in the 280G Vote.

• For the avoidance of doubt, until the Termination Date in accordance with the Loan Agreement, no Obligor shall make and Junior Creditor shall not accept or receive any Payments other than the Exempt Payments.

• The “280G Waived Payments” are those Payments under the Award or otherwise that are subject to the 280G Vote, provided that, prior to the Company’s solicitation of approval by the Company’s stockholders in the 280G Vote, the Recipient has agreed to waive the Recipient’s right (if any) to receive or retain (as applicable) those Payments in the event that approval by the Company’s stockholders necessary to deem the Payments as Exempt Payments is not obtained in the 280G Vote.

More Definitions of Exempt Payments

Exempt Payments shall have the meaning given to such term in Section 11.2(e) of the Participation Agreement. “Expiration Date” shall mean the last day of the Term; provided, in no event shall the Expiration Date be later than June 1, 2023. “Facility Termination Date” shall mean the Expiration Date or such later date as the Lessor Parties shall notify the Lessee and the Agent of in writing. “Fair Market Sales Value” shall mean, the amount, which in any event, shall not be less than zero (0), that would be paid in cash in an arms-length transaction between an informed and willing purchaser and an informed and willing seller, neither of whom is under any compulsion to purchase or sell, respectively, the Property. Fair Market Sales Value of the Property shall be determined based on the assumption that, except for purposes of Section 17 of the Lease, the Property is in the condition and state of repair required under Section 10.1 of the Lease and each Credit Party is in compliance with the other requirements of the Operative Agreements. “FATCA” shall mean Section 1471 through 1474 of the Code, as of the date of the Participation Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreement entered into pursuant to Section 1471(b) of the Code, and any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Official Bodies and implementing such Sections of the Code. “Federal Funds Effective Rate” shall mean the Federal Funds Rate. “Federal Funds Rate” shall mean, for any period, a fluctuating interest rate per annum equal for each day during such period to the weighted average of the overnight federal funds rates as in Federal Reserve Board Statistical Release H.15(519) or any successor or substitute publication selected by the Agent (or, if such day is not a Business Day, for the next preceding Business Day), or, if, for any reason, such rate is not available on any day, the rate determined, in the good faith opinion of the Agent, to be the rate at which overnight federal funds are being offered in the national federal funds market at 9:00 a.m. Charlotte, North Carolina time, absent demonstrable error; provided, notwithstanding the foregoing, if such interest rate determined as provided above would be less than 0.0% per annum for any applicable time ...

Exempt Payments shall have the meaning provided in Section 3.01.