Minimum Consent Condition definition

Minimum Consent Condition means the condition to the Consummation of the Exchange Offers and Consent Solicitations that (i) holders of at least 66 2/3% of the aggregate outstanding principal amount of 13% Notes must validly tender (and not validly withdraw) such 13% Notes in the Exchange Offers and thereby consent to the 13% Notes Amendments and Lien Release, and (ii) holders of at least 75% of the aggregate outstanding principal amount of 14.25% Notes must validly tender (and not validly withdraw) such 14.25% Notes in the Exchange Offers and thereby consent to the 14.25% Notes Amendments.
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Minimum Consent Condition means the receipt in the Exchange Offer or pursuant to agreements substantially similar to this Agreement of effective consents (which have not been validly withdrawn pursuant to the terms of the Exchange Offer or this Agreement of such other agreements substantially similar hereto, and are effective on the date of, and for purposes of, Consummation) from holders of Existing Notes representing at least a majority of the aggregate principal amount of the Existing Notes approving the Amendments.
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Minimum Consent Condition. Upon consent by Noteholders representing at least 50.0% of the aggregate accreted principal amount of ITC's outstanding Notes of this term sheet prior to June 25, 2002, the Company will accept this ================================================================================ proposal in lieu of any outstanding plan and embody this proposal in a plan of reorganization (it being expressly agreed and understood among the parties that, for purposes of calculating the 50.0% threshold, any and all Senior Notes held by the Company, or any of its subsidiaries or affiliates, will be deemed to have consented to this term sheet). All parties obligations pursuant to this term sheet are conditioned upon confirmation of the plan outlined herein. Release Upon the Effective Date, in consideration for the Convertible Preferred Stock commitment and their performance thereunder, ITC Holding Company, Inc., SCANA Corporation and their respective officers, directors, employees and affiliates will be released by the holders of not less than 51% in principal amount of the Notes, ITC and Reorganized ITC from any and all liabilities or claims, including, without limitation, claims arising under or in connection with the Investment Agreement dated as of February 27, 2001 by and between ITC and ITC Holding Company, Inc. as amended. The Plan will also provide for customary releases by ITC, Reorganized ITC and the Noteholders of the current and former officers and directors of ITC, ITC's representatives (including any attorney, financial advisors, investment banks or other professional), members of the Unofficial Committee of Noteholders and their representatives (including any attorney, financial advisors, investment banker or other professional). Registration Rights The Plan will provide that: - (i) the holders of the Reorganized ITC Common Stock will be entitled to three (3) demand rights and unlimited piggyback rights for the resale thereof, subject to customary limitations; - (ii) on the Effective Date, the holders of the Reorganized ITC Common Stock will enter into registration rights agreements with Reorganized ITC on terms and conditions satisfactory to the Committee; - (iii) as of the Effective Date, Reorganized ITC will be registered under the Securities Exchange Act of 1934, as amended;
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Examples of Minimum Consent Condition in a sentence

  • After the Meeting, the Issuer shall announce (i) whether the Minimum Consent Condition has been satisfied or is otherwise expected to be waived, and (ii) the results of the Meeting.

  • After such adjourned Meeting, the Issuer shall announce, if known, whether the Minimum Consent Condition has been satisfied or is otherwise expected to be waived.

  • Over the six weeks of the consultation, 433 unique users visited the virtual information room for the Proposed Scheme.

  • Upon satisfaction of the Minimum Consent Condition, the Company shall have obtained the requisite consent of the holders of the Existing Notes to amend the Existing Notes as contemplated under the Consent Solicitation.


More Definitions of Minimum Consent Condition

Minimum Consent Condition means the condition to the Consummation of the Exchange Offers and Consent Solicitations that (i) holders of at least 66 2/3% of the aggregate outstanding principal amount of 13% Notes must validly tender (and not validly withdraw) such 13%
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Related to Minimum Consent Condition

  • Minimum Condition has the meaning set forth in Annex I.

  • Extension Minimum Condition means a condition to consummating any Extension that a minimum amount (to be determined and specified in the relevant Extension Request, in the Borrower’s sole discretion) of any or all applicable Classes be submitted for Extension.

  • Termination Conditions means, collectively, (a) the payment in full in cash of the Obligations (other than (i) contingent indemnification obligations not then due and (ii) Obligations under Secured Hedge Agreements and Secured Cash Management Agreements) and (b) the termination of the Commitments and the termination or expiration of all Letters of Credit under this Agreement (unless the Outstanding Amount of the L/C Obligations related thereto has been Cash Collateralized on terms reasonably acceptable to the applicable Issuing Bank, backstopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank or deemed reissued under another agreement reasonably acceptable to the applicable Issuing Bank).

  • Payment Conditions means, at the time of determination with respect to any specified transaction or payment, that:

  • Extension Conditions Defined in Section 3.06(a).

  • Poor foundation conditions means those areas where features exist which indicate that a natural or man-induced event may result in inadequate foundation support for the structural components of an SWLF unit.

  • Minimum Tender Condition shall have the meaning provided in Section 2.15(b).

  • Payment Condition at any time of determination with respect to any Specified Transaction, that the following conditions are all satisfied: (x) (1) 30-Day Specified Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) and (2) the Specified Availability on the date of such Specified Transaction (divided by Availability as of such time of determination and expressed as a percentage), in each case exceed the applicable Availability Percentage (as defined below), (y) unless the Fixed Charge Condition (as defined below) is satisfied (to the extent applicable), the Parent Borrower shall be in Pro Forma Compliance with a minimum Consolidated Fixed Charge Coverage Ratio of at least 1.00:1.00 and (z) if reasonably requested by the Administrative Agent, the Borrower Representative shall have delivered to the Administrative Agent (i) a copy of calculations required by preceding clause (y) in reasonable detail and (ii) a calculation of Specified Unrestricted Cash. As used herein, the following terms shall have the following meanings: (i) “Availability Percentage” shall mean (a) in respect of any Restricted Payment pursuant to Subsection 8.3(k), 12.5%; (b) in respect of (A) any investment or acquisition permitted pursuant to clause (u) of the definition of “Permitted Investments” or (B) clause (c)(i) of the definition of “Permitted Acquisitions,” 10.0%; (c) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 12.5%; (d) in respect of any merger, consolidation, amalgamation or asset sale pursuant to Subsection 8.2(a) or 8.2(b), 10.0%; and (e) in respect of any Asset Sale that would otherwise have to comply with Subsection 8.5, 10.0%; and (ii) “Fixed Charge Condition” shall mean 30-Day Specified Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) exceeds: (a) in respect of any Restricted Payment pursuant to Subsection 8.3(k), 17.5%; (b) in respect of any acquisition permitted pursuant to clause (c)(i) of the definition of “Permitted Acquisitions”, 15.0%; (c) in respect of any investment permitted pursuant to clause (u) of the definition of “Permitted Investments”, 15.0%; (d) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 15.0%; and (e) in respect of (A) any merger, consolidation, amalgamation or asset sale pursuant to Subsection 8.2(a) or 8.2(b) or (B) any Asset Sale that would otherwise have to comply with Subsection 8.5, 15.0%.

  • Minimum Capital Requirement means the Minimum Capital Requirement, the minimum group Solvency Capital Requirement or other minimum capital requirements (as applicable) referred to in the Relevant Rules;

  • Equity Conditions Measuring Period means each day during the period beginning twenty (20) Trading Days prior to the applicable date of determination and ending on and including the applicable date of determination.

  • Minimum Extension Condition has the meaning assigned to such term in Section 2.23(b).

  • Offer Conditions has the meaning set forth in Section 1.01(b).

  • Rating Condition has the meaning specified in Section 2.06(c)(ii).

  • Step Down Conditions As of any Distribution Date on which any decrease in any Senior Prepayment Percentage may apply, (i) the outstanding Principal Balance of all Mortgage Loans 60 days or more Delinquent (including Mortgage Loans in REO and foreclosure), averaged over the preceding six month period, as a percentage of the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates on such Distribution Date, does not equal or exceed 50% and (ii) cumulative Realized Losses with respect to all of the Mortgage Loans do not exceed: · for any Distribution Date on or after the seventh anniversary until the eighth anniversary of the first Distribution Date, 30% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the eighth anniversary until the ninth anniversary of the first Distribution Date, 35% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the ninth anniversary until the tenth anniversary of the first Distribution Date, 40% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the tenth anniversary until the eleventh anniversary of the first Distribution Date, 45% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, and · for any Distribution Date on or after the eleventh anniversary of the first Distribution Date, 50% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date.

  • Product Conditions means these product terms and conditions. These Product Conditions apply to each series of cash settled Warrants over single equities;

  • Minimum Balance Requirements You must maintain a minimum daily balance of $2,000.00 in your Money Market Savings account to obtain the disclosed annual percentage yield. We impose a monthly maintenance fee if the balance falls below $500 any day of the month. Basic Checking Account Rate Information: This account does not pay interest.

  • Early Termination Conditions means the types of conditions listed in Schedule A.

  • Minimum Extended Summer Resource Requirement means, for Delivery Years through May 31, 2017, the minimum amount of capacity that PJM will seek to procure from Extended Summer Demand Resources and Annual Resources for the PJM Region and for each Locational Deliverability Area for which the Office of the Interconnection is required under Tariff, Attachment DD, section 5.10(a) to establish a separate VRR Curve for such Delivery Year. For the PJM Region, the Minimum Extended Summer Resource Requirement shall be equal to the RTO Reliability Requirement minus [the Limited Demand Resource Reliability Target for the PJM Region in Unforced Capacity]. For an LDA, the Minimum Extended Summer Resource Requirement shall be equal to the LDA Reliability Requirement minus [the LDA CETL] minus [the Limited Demand Resource Reliability Target for such LDA in Unforced Capacity]. The LDA CETL may be adjusted pro rata for the amount of load served under the FRR Alternative. Minimum Generation Emergency:

  • Release Conditions mean the following conditions: (i) Company has received the Executive’s executed Release and (ii) any rescission period applicable to the Executive’s executed Release has expired.

  • Normal Operating Conditions means those Service conditions which are within the control of Grantee. Those conditions which are not within the control of Grantee include, but are not limited to, natural disasters, civil disturbances, power outages, telephone network outages, and severe or unusual weather conditions. Those conditions which are ordinarily within the control of Grantee include, but are not limited to, special promotions, pay-per-view events, rate increases, regular peak or seasonal demand periods, and maintenance or upgrade of the Cable System.

  • Minimum Commitment means any minimum commitment of time and usage for use of the Services by You during the Term of this Agreement.

  • Distribution Conditions means, with respect to any Restricted Payment or Restricted Junior Debt Prepayment, the following:

  • Minimum Collateral Amount means, at any time, (i) with respect to Cash Collateral consisting of cash or deposit account balances, an amount equal to 103 % of the Fronting Exposure of all LC Issuing Banks with respect to Letters of Credit issued and outstanding at such time and (ii) otherwise, an amount determined by the Administrative Agent and the LC Issuing Banks in their sole discretion.

  • Litigation Conditions has the meaning set forth in Section 11.3.

  • Closing Conditions shall include, but are not limited to, SI Securities determining in its sole discretion that at the time of a closing, the Minimum Offering has been met, the investment remains suitable for investors, investors have successfully passed ID, KYC, AML, OFAC, and suitability screening, and that Issuer has completed all actions required by it as communicated by SI Securities at the time of a closing.

  • Eligibility Conditions means the eligibility conditions specified in the Act and the Rules including all the eligibility conditions listed in Clause [5] of the Tender Document.