MFL definition
Examples of MFL in a sentence
In determining whether a breach of any Financial Covenant incorporated by reference into this Agreement pursuant to this Section 9.11 shall constitute an Event of Default, the period of grace, if any, applicable to such Additional or More Restrictive Covenant in the relevant MFL Agreement shall apply notwithstanding the grace period set forth in Section 11(c)(1).
Thereupon, unless waived in writing by the Required Holders within 10 Business Days of the holders’ receipt of such notice, such Additional or More Restrictive Covenant shall be deemed incorporated by reference into this Agreement, mutatis mutandis, as if set forth fully herein, effective as of the date when such Additional or More Restrictive Covenant became effective under the relevant MFL Agreement.
At the Closing MFL shall deliver share certificates in amounts representing all of the issued and outstanding common shares of MFL to ▇▇▇▇▇▇ and ▇▇▇▇▇▇ shall deliver 7,000,000 of its common shares to ▇▇▇▇▇ ▇.
In determining whether a breach of any Financial Covenant incorporated by reference into this Agreement pursuant to this Section 9.10 shall constitute an Event of Default, the period of grace, if any, applicable to such Additional or More Restrictive Covenant in the relevant MFL Agreement shall apply.
It is acknowledged and agreed by the parties hereto that as of the date of Closing the MFL Activation Period is in effect.