Mandatory Trigger Event definition

Mandatory Trigger Event has the meaning set forth in Section 2.7(b).

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Mandatory Trigger Event has the meaning specified in the Indenture.

Mandatory Trigger Event means the satisfaction of any one of paragraphs (a), (b), (c) or (d) below:

Examples of Mandatory Trigger Event in a sentence

In the event that a Special Mandatory Trigger Event occurs, the Escrow Issuer will be required to redeem all outstanding Notes on the Special Mandatory Redemption Date at a redemption price equal to 100% of the principal amount of the Notes plus accrued and unpaid interest to but excluding the Special Mandatory Redemption Date.
Subject to Section 3.2(a), any Mandatory Deferred Interest, whether or not a Mandatory Trigger Event continues, must be paid only from the proceeds of the sale of Common Stock in accordance with Section 3.2.
If a Mandatory Trigger Event occurs on or after commencement of an Optional Extension Period, the Optional Extension Period shall be deemed suspended for so long as the Mandatory Extension Period is continuing and the provisions of Section 2.7 of the First Supplemental Indenture shall apply.
In the event of a Special Mandatory Redemption, notice of redemption shall be given within 10 days of a Special Mandatory Trigger Event to each Holder.
The provisions of this Section 8.5 shall terminate and cease to be of any further force or effect on the third anniversary of the first to occur of a Mandatory Trigger Event or an Optional Trigger Event.

More Definitions of Mandatory Trigger Event

Mandatory Trigger Event means a determination by the Company that any of the following conditions exists as of the day that is the thirtieth day prior to any Interest Payment Date (or, in the event that such date is not a Business Day, the immediately preceding Business Day) (a “TRIGGER DETERMINATION DATE”):

Mandatory Trigger Event shall have occurred with respect to any Interest Period if on the 30th day prior to the Interest Payment Date for such Interest Period:

Mandatory Trigger Event means a determination by the Company that both of the following conditions exist as of the day that is the 30th day prior to any Dividend Payment Date (or, in the event that such date is not a Business Day, the immediately preceding Business Day) (a “Trigger Determination Date”):

Mandatory Trigger Event with respect to each Interest Payment Date means a determination by the Company that both of the following conditions exist as of the day that is the 30th day prior to such Interest Payment Date (or, in the event that such date is not a Business Day, the immediately preceding Business Day) (a “Trigger Determination Date”): (i) The Leverage Ratio for each of the three most recently completed fiscal quarters was equal to or greater than 6.0; and (ii) The Interest Coverage Ratio for each of the three most recently completed fiscal quarters was less than or equal to 2.0. The Mandatory Extension Period shall continue until either (or both) of the conditions in clauses (i) and (ii) above no longer exists as of the Trigger Determination Date applicable to any subsequent Interest Payment Date. For purposes of determining whether a Mandatory Trigger Event has occurred on any relevant Trigger Determination Date, any accrued but unpaid Optionally Deferred Interest will be counted as if it had been paid in cash.

Mandatory Trigger Event. “Optionally Deferred Interest”