Original Conditions definition
Examples of Original Conditions in a sentence
CLAUSES: Original Conditions ARTICLE 11 Currency - U.S. Dollar ARTICLE 12 Loss/Unearned Premium Reserve Funding ARTICLE 13 Taxes (Reinsurers pay FET as applicable) ARTICLE 14 Loss and Loss Expense (Pro Rata not exceed- ARTICLE 15 exceeding 5% of written premium, inclusive of legal, court and all other costs).
A Utilization Request may be submitted only when the Facility Agent has received all documents and evidence in accordance with Schedule 2 Part I (Original Conditions Precedent to Disbursement), in form and substance satisfactory to the Facility Agent.
If the terms and conditions contained in the Revised Offer are not substantially equal to or greater than the Original Conditions, then the Principal Stockholder shall have the right to cause the Revised Offer to be rejected by the Principal Stockholder.
Pursuant to the Original Conditions, the Conversion Price was subject to adjustment in certain events which would not result in settlement by the exchange of the fixed principal amount of the Convertible Notes for a fixed number of Shares.
The Company, the Vendor, Triple Kind and Awards Technology agreed to enter into the CB Supplemental Agreement for the purpose of amending certain terms of the Convertible Notes by effectively removing certain events for triggering the adjustment on the Conversion Price under the Original Conditions, which would result in the conversion feature of the Convertible Notes being classified as a derivative liability for accounting purposes to address an accounting technical issue on the Convertible Notes.