Interest Stock Election definition

Interest Stock Election means the election by Lender to receive Interest Shares in lieu of the cash payment of interest on the Term Loan described in Section 2.8.
Sample 1

Examples of Interest Stock Election in a sentence

  • The Borrowers further acknowledge that the obligation of Lakeland US to issue Common Stock upon exercise of the Warrants and Interest Shares upon exercise of the Interest Stock Election is, in each case, absolute and unconditional regardless of the dilutive effect that such issuance may have on the ownership interests of other stockholders of Lakeland US.

  • Refrain from trading in Common Stock during the twenty (20) trading day period prior to the effective date of the next succeeding Interest Stock Election Notice with the principal purpose of depressing the per-share price thereof.

  • The Borrowers understand and acknowledge that the number of shares of Common Stock issuable upon exercise of the Warrants or election of the Interest Stock Election, will increase in certain circumstances.

Related to Interest Stock Election

  • Stock Election shall have the meaning set forth in Section 3.2.2.

  • Stock Election Shares shall have the meaning set forth in Section 3.2.1.

  • Exchange Election shall have the meaning specified in Section 14.12(a).

  • Cash Election Shares shall have the meaning set forth in Section 3.2.1.

  • Non-Election Shares shall have the meaning set forth in Section 3.2.1.

  • Cash Election shall have the meaning set forth in Section 3.2.2.

  • Interest Share Amount shall have the meaning set forth in Section 2(a).

  • Regular election means an election held on a regular election date to elect an individual to, or nominate an individual for, elective office in the regular course of the terms of that elective office.

  • Mixed Election has the meaning set forth in Section 3.01(b)(iii).

  • Dissent Shares means Company Shares held by a Dissenting Shareholder and in respect of which the Dissenting Shareholder has validly exercised Dissent Rights;

  • 10) Election has the meaning set forth in Section 6.05(a).

  • Qualifying Preferred Stock means non-cumulative perpetual preferred stock of the Corporation that (a) ranks pari passu with or junior to all other preferred stock of the Corporation, and (b) either (x) is subject to a Qualifying Replacement Capital Covenant or (y) is subject to Intent-Based Replacement Disclosure and has a provision that prohibits the Corporation from paying any dividends thereon upon its failure to satisfy one or more financial tests set forth therein, and (c) as to which the transaction documents provide for no remedies as a consequence of non-payment of dividends other than Permitted Remedies.

  • Interest Conversion Shares shall have the meaning set forth in Section 2(a).

  • Maximum I-LTZZ Uncertificated Interest Deferral Amount With respect to any Distribution Date, the excess of (i) accrued interest at the REMIC I Remittance Rate applicable to REMIC I Regular Interest I-LTZZ for such Distribution Date on a balance equal to the Uncertificated Balance of REMIC I Regular Interest I-LTZZ minus the REMIC I Overcollateralized Amount, in each case for such Distribution Date, over (ii) Uncertificated Interest on REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTA4, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTM8, REMIC I Regular Interest I-LTM9 and REMIC I Regular Interest I-LTM10 for such Distribution Date, with the rate on each such REMIC I Regular Interest subject to a cap equal to the lesser of (i) One-Month LIBOR plus the related Margin for the related Corresponding Certificate and (ii) the Net WAC Pass-Through Rate for the related Corresponding Certificate; provided, however, each cap shall be multiplied by a fraction, the numerator of which is the actual number of days elapsed in the related Interest Accrual Period and the denominator of which is 30.

  • LCA Election has the meaning specified in Section 1.09(a).

  • Deferred Stock Account means a bookkeeping account maintained by the Company for a Participant representing the Participant's interest in the shares credited to such Deferred Stock Account pursuant to Paragraph 7 hereof.

  • Company Stock Account means the account established and maintained in the name of each Participant or Beneficiary to reflect his share of the Trust Fund invested in Company Stock.

  • Company Class A Common Stock means the Class A Common Stock, par value $0.01 per share, of the Company.

  • Distribution Election With respect to any Series, as specified in the related Supplement.

  • REIT Shares Amount means a number of REIT Shares equal to the product of the number of Partnership Units offered for exchange by a Tendering Party, multiplied by the Conversion Factor as adjusted to and including the Specified Redemption Date; provided that in the event the General Partner issues to all holders of REIT Shares rights, options, warrants or convertible or exchangeable securities entitling the stockholders to subscribe for or purchase REIT Shares, or any other securities or property (collectively, the “rights”), and the rights have not expired at the Specified Redemption Date, then the REIT Shares Amount shall also include the rights issuable to a holder of the REIT Shares Amount of REIT Shares on the record date fixed for purposes of determining the holder of REIT Shares entitled to rights.

  • Per Share Stock Consideration has the meaning set forth in Section 3.01(a)(i).

  • Company Stock Certificate has the meaning set forth in Section 1.6.

  • Parent Class A Common Stock means the Class A Common Stock, par value $0.01 per share, of Parent.

  • Preferred Stock Dividends means all dividends with respect to Preferred Stock of Restricted Subsidiaries held by Persons other than the Company or a Wholly Owned Restricted Subsidiary. The amount of any such dividend shall be equal to the quotient of such dividend divided by the difference between one and the maximum statutory federal income rate (expressed as a decimal number between 1 and 0) then applicable to the issuer of such Preferred Stock.

  • Common Stock Consideration has the meaning set forth in Section 1.6(b).

  • REMIC Election An election, for federal income tax purposes, to treat certain assets as a REMIC.