First Release Event definition

First Release Event means if at any time on or prior to May 16, 2004, (i) Lender shall sell 4,000,000 Conversion Shares to one or more Persons at a per-share price which is equal to at least $3.00, or (ii) DCCLP shall arrange for the purchase of 4,000,000 Conversion Shares by one or more Target Persons, at a per-share price which is equal to or more than the greater of (A) $3.00 or (B) (x) if prior to November 3, 2003, eighty-five percent (85%) of the volume weighted average price per share of the Class A Common Stock during the ten (10) Business Days immediately prior to the date or dates on which such Target Persons bought or would be willing to buy such Conversion Shares or (y) if on or after November 3, 2003, ninety percent (90%) of the volume weighted average price per share of the Class A Common Stock during the ten (10) Business Days immediately prior to the date or dates on which such Target Persons bought or would be willing to buy such Conversion Shares less the number of Conversion Shares sold by Lender pursuant to clause (i) above after May 16, 2003, and prior to the closing of the applicable sale by Lender to such Target Persons."; and
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First Release Event means the following: on or before May 16, 2004, either (i) Lender sells four million shares of Class A Common Stock that Lender received from Borrower pursuant to the Stock Purchase Agreement (the "Bank Shares"), at a per-share price equal to at least $3.00, or (ii) Borrower arranges for a bona fide purchaser who is ready, willing, and able to purchase for cash ("Bona Fide Purchaser"), at a per-share price equal to or more than the greater of $3.00 or (x) if prior to November 3, 2003, eighty-five percent (85%) of the then-current market price or (y) if on or after November 3, 2003, ninety percent (90%) of the then-current market price, four million Bank Shares less the number of Bank Shares sold by Lender from sales described in clause (i) after May 16, 2003, and prior to the closing of the applicable sale to the Bona Fide Purchaser.
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Examples of First Release Event in a sentence

  • Pressure Relief Valves Should be Monitored Prior to the First Release Event The Permit must include additional monitoring to assure that all pressure relief valves at the facility are in compliance with the requirements of BAAQMD Regulation 8-28 (Episodic Releases from Pressure Relief Valves).

Related to First Release Event

  • Release Event has the meaning set forth in Section 6(b).

  • Release Deadline means the deadline prescribed by Employer for the execution of the general release described in this paragraph (d)(2) of Section 7, which deadline shall in no event be later than 60 days following the date Executive’s employment terminates;

  • Release Effective Date means the date the Release becomes effective and irrevocable.

  • Release Notice has the meaning specified in Section 11.19(b).

  • Escrow Release Date has the meaning set forth in Section 9.6.

  • Forbearance Termination Date means the earlier to occur of (i) the closing of a Transaction; (ii) October 31, 2001, or (iii) the date upon which the Forbearance Default occurs.

  • Purchase Termination Date means the date upon which the Transferor shall cease, for any reason whatsoever, to make purchases of Receivables from the Seller under the Receivables Purchase Agreement or the Receivables Purchase Agreement shall terminate for any reason whatsoever.

  • Forbearance Termination Event has the meaning set forth in Section 3(a) hereto.

  • Standstill Termination Date means the earlier of (i) the first anniversary of the Board Rights Termination Date and (ii) the later of (A) the third anniversary of this Agreement or (B) the first anniversary of the date on which both the Purchaser Designated Director has resigned from the Board and the Purchaser has permanently waived and renounced the Purchaser’s Board observation rights and Board designation rights in Section 1 and Section 2 of this Agreement.

  • Change of Control Notice means notice of a Change of Control Offer made pursuant to Section 3.8, which shall be mailed first-class, postage prepaid, to each record Holder as shown on the Note Register within 30 days following the date upon which a Change of Control occurred, with a copy to the Trustee, which notice shall govern the terms of the Change of Control Offer and shall state:

  • Termination After Change in Control means either of the following events occurring within twelve (12) months after a Change in Control:

  • Delivery Period Termination Date Has the meaning specified in the Related Pass Through Trust Supplement.

  • Escrow Termination Date has the meaning ascribed to such term in Section 9.12.

  • Term SOFR Transition Event means the determination by the Administrative Agent that (a) Term SOFR has been recommended for use by the Relevant Governmental Body, (b) the administration of Term SOFR is administratively feasible for the Administrative Agent and (c) a Benchmark Transition Event or an Early Opt-in Election, as applicable, has previously occurred resulting in a Benchmark Replacement in accordance with Section 2.14 that is not Term SOFR.

  • Lease Termination Date means the last day of the Lease Term.

  • Mandatory Termination Date means the "Termination Date" set forth under "Investment Summary--Essential Information" in the Prospectus for the Trust.

  • Offer Closing Date has the meaning set forth in Section 1.01(f).

  • Pre-Release Transaction shall have the meaning set forth in Section 5.10.

  • Change of Control Effective Date means the first date during the Change of Control Period (as defined in Section 7.2) on which a Change of Control occurs. Notwithstanding anything in this Agreement to the contrary, if a Change of Control occurs and if the Executive’s employment with the Company (or applicable affiliated company) is terminated prior to the date on which the Change of Control occurs, and if it is reasonably demonstrated by the Executive that such termination of employment (i) was at the request of a third party who has taken steps reasonably calculated to effect a Change of Control or (ii) otherwise arose in connection with or anticipation of a Change of Control, then for all purposes of this Agreement the “Change of Control Effective Date” shall mean the date immediately prior to the date of such termination of employment.

  • Resale Restriction Termination Date shall have the meaning specified in Section 2.05(c).

  • Agreement Termination Date is defined in Section 7.4.

  • Release Period means the period specified in paragraph 3(d) of the letter of consent.

  • Effective Termination Date has the meaning set forth in Section 10(b) hereof.

  • Outside Termination Date shall have the meaning set forth in Section 8.01(f).

  • Closing Press Release has the meaning set forth in Section 5.4(b).

  • Servicer Termination Notice Defined in Section 6.15.