MFN Provision definition
MFN Provision has the meaning specified in Section 2.14(b).
MFN Provision has the meaning assigned to such term in Section 2.22(a)(v).
MFN Provision as defined in Section 2.25(a)(iv).
Examples of MFN Provision in a sentence
Promptly upon request by the Administrative Agent, the Parent and the Parent Borrower shall, and shall cause each other Loan Party to do, execute and take any and all such further acts, amendments, supplements, modifications and assurances and other instruments as the Administrative Agent may reasonably require from time to time in order to document incorporation of the MFN Provision and otherwise carry out the intent and purposes of this Section 10.19.
The MFN Provision shall also apply to any loan issuance otherwise permitted in Section 7.03(h)(x), 7.03(z) and 7.03(aa) that is pari passu in right of payment with the Term B Facility and secured by a Lien on the Collateral on a pari passu basis with the Liens securing the Term B Facility.
The application of MFN Provision on the dispute settlement is the ‘incorporation by reference’ of an arbitration agreement where clear agreement is strictly required (Plama v.
The bank loan has a MFN Provision with a threshold amount of 50 basis points.
The Agreement is amended by adding the following Section 4.12: MFN Provision.
More Definitions of MFN Provision
MFN Provision shall have the meaning assigned to it in Section 2.1(d)(v)(B).
MFN Provision has the meaning set forth in Section 2.13(c)(vi).
MFN Provision has the meaning set forth in Section 2.24(e) hereto. “Modified Amortization Percentage” means, at any time, with respect to Term Loan Increases that will constitute, and be added to, the Initial Term Loans, a percentage equal to the fraction, the numerator of which is the amount of the scheduled amortization payment required to be made on the next scheduled amortization repayment date pursuant to Section 2.11(a)(i) and the denominator of which is the aggregate principal amount of Initial Term Loans that is outstanding at such time (without giving effect to the incurrence of any Term Loan Increase to be made at such time, but, for the avoidance of doubt, to include Term Loan Increases incurred prior to such time). “Xxxxx’x” means Xxxxx’x Investor Services, Inc. “Mortgage” means a fee mortgage, deed of trust, deed to secure debt or similar security instruments in form and substance reasonably satisfactory to Collateral Agent. “Multiemployer Plan” means any Employee Benefit Plan which is a “multiemployer plan” as defined in Section 3(37) of ERISA. “NAIC” means The National Association of Insurance Commissioners or any other similar organization. “Net Asset Sale Proceeds” means, with respect to any Asset Sale, an amount equal to: (i) Cash payments received by any Borrower or any Restricted Subsidiary from such Asset Sale, (including any Cash received by way of earn-outs and other deferred payments pursuant to, or by monetization of, a note receivable or otherwise, but only as and when so received) (net of purchase price adjustments reasonably expected to be payable in connection therewith, provided that upon final calculation of such purchase price adjustments, all netted amounts not actually paid to the purchaser of the underlying assets shall be considered Net Asset Sale Proceeds), minus (ii) any direct costs incurred in connection with such Asset Sale to the extent paid or payable to non-Affiliates and, to the extent permitted by Section 5.22, Affiliates, including (a) taxes paid or payable by the seller as a result of any gain recognized in connection with such Asset Sale, including any transfer, documentary, income, gains or other taxes payable by the seller in connection therewith, (b) payment of the outstanding principal amount of, premium or penalty, if any, and interest on any Indebtedness (other than the Loans) that is secured by a Lien on the Capital Stock or assets in question (so long as such Lien was permitted to encumber such properties under th...
MFN Provision shall have the meaning assigned to such term in Section 2.11.4(e) [Terms of Incremental Term Loan Commitment].
MFN Provision as defined in Subsection 2.8(d).
MFN Provision has the meaning specified in Section 2.14(b). “Minimum Extension Condition” has the meaning specified in Section 2.15(b). “Minimum Liquidity Certificate” has the meaning specified in Section 7.09(b)(ii). “Minimum Tender Condition” has the meaning specified in Section 2.17(b). “Moody’s” means Xxxxx’x Investors Service, Inc. and any successor thereto. “Mortgage” means, collectively, the deeds of trust, trust deeds, deeds of hypothecation, security deeds, and mortgages creating and evidencing a Lien on a Mortgaged Property made by the Loan Parties in favor or for the benefit of the Collateral Agent on behalf of the Secured Parties in form and substance reasonably satisfactory to the Collateral Agent, and any other mortgages executed and delivered pursuant to Section 6.10 and/or Section 6.12, as applicable. “Mortgage Policies” has the meaning specified in paragraph (f) of the definition of “Collateral and Guarantee Requirement.” “Mortgaged Property” means each real property owned by any Loan Party, if any, which shall be subject to a Mortgage delivered pursuant to Section 6.10 and/or Section 6.12, as applicable. “Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which any Loan Party or any ERISA Affiliate makes or is obligated to make contributions, or during the immediately preceding six (6) years, has made or been obligated to make contributions. “MS” means Xxxxxx Xxxxxxx Bank, N.A. “Net Cash Proceeds” means: (a) with respect to the Disposition of any asset by the Borrower or any Restricted Subsidiary or any Casualty Event, the excess, if any, of (i) the sum of cash and Cash Equivalents received in connection with such Disposition or Casualty Event (including any cash or Cash Equivalents received by way of deferred payment pursuant to, or by monetization of, a note receivable or otherwise, but only as and when so received and, with respect to any Casualty Event, any insurance proceeds or condemnation awards in respect of such Casualty Event actually received by or paid to or for the account of the Borrower or any Restricted Subsidiary (excluding any business interruption insurance proceeds)) over (ii) the sum of (A) the principal amount, premium or penalty, if any, interest and other amounts on any Indebtedness that is secured by the asset subject to such Disposition or Casualty Event and that is required to be repaid (and is timely repaid) in connection with such Disposition or Casualty Event (other...
MFN Provision means in the event that the Effective Yield for any Indebtedness is greater than the Effective Yield for the Initial Notes by more than 0.50% per annum, then the Effective Yield for the Initial Notes shall be increased to the extent necessary so that the Effective Yield for the Initial Notes is equal to the Effective Yield for such Indebtedness m inus 0.50% per annum (provided that the “LIBOR floor” applicable to the outstanding Initial Notes shall be increased to an amount not to exceed the “LIBOR floor” applicable to such Indebtedness prior to any increase in the Applicable Rate applicable to such Initial Notes then outstanding). Promptly upon the occurrence of any event triggering the obligation to increase the Effective Yield on the Notes under this provision, the Issuer shall deliver an Officer’s Certificate to the Trustee identifying the required rate changes and the effective date of such change and describing the basis for such change.