Participation Event definition

Participation Event has the meaning ascribed to such term in Section3.6(b).

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Participation Event means (i) any Change in Control, or (ii) any consolidation, merger, binding share exchange or reorganization to which the Corporation is party, except a consolidation, merger, share exchange or reorganization in which the Corporation is the continuing corporation and which does not result in any exchange or conversion of the outstanding shares of any class or series of capital stock of the Corporation, any distribution, issuance of securities or payment of other consideration to the holders of the outstanding shares of any class or series of capital stock of the Corporation, or change in the outstanding shares of

Participation Event means (i) a sale of all or substantially all of the assets of the Company, or (ii) a merger or consolidation of the Company with or into any other corporation (other than a merger or consolidation in which shares of the Company's Voting Securities outstanding immediately before such merger or consolidation are exchanged or converted into or constitute shares which represent more than 50% of the surviving entity's Voting Securities after such consolidation or merger), or (iii) a transaction or a series of transactions in which a Person or a group of Persons (as defined in Rule 13d-5(b)(I) of the Exchange Act) acquires beneficial ownership (as determined in accordance with Rule 13d-3 of the Exchange Act) of more than 50% of the Voting Securities of the Company, or (iv) a Liquidity Event, or (v) a liquidation, dissolution of winding-up the Company. A Participation Event shall not extend to any reorganization, merger or consolidation involving (1) only a change in the state of incorporation of the Company, (2) a merger of the Company with or into a wholly-owned subsidiary of the Company that is incorporated in the United States of America, or (3) an acquisition by merger, reorganization or consolidation, in which the company is substantively the surviving corporation and operates as a going concern and is not the target in any such acquisition, of another corporation incorporated in the United States of America that is engaged in a business similar or related to the business of the Company and which does not involve a recapitalization of the Series B Preferred Stock.

Examples of Participation Event in a sentence

• Upon the occurrence of an Automatic Participation Event, the Administrative Agent will give notice thereof to each Lender, specifying in such notice such Lender’s Applicable Percentage of such Swingline Loan or Loans.

• Upon the occurrence of an Automatic Participation Event, the Administrative Agent will give notice thereof to each Revolving Lender, specifying in such notice such Lender’s Applicable Percentage of such Swingline Loan or Loans.

• Employee Stock Participation Plan (the "Plan") is intended to provide a method whereby employees of EXCO Resources, Inc., a Texas corporation ("EXCO"), which is the wholly-owned subsidiary of EXCO Holdings Inc., a Delaware corporation ("EXCO Holdings"), will have an opportunity to share in proceeds received on the occurrence of a Participation Event (defined in Section 6 below) as though such employees were shareholders of EXCO Holdings.

• No termination, modification, or amendment of the Plan may occur after a Participation Event without the written consent of a majority of the Eligible Employees.

• Upon the occurrence of an Automatic Swing Line Participation Event, the Administrative Agent will give notice thereof to each Revolving Lender, specifying in such notice each Revolving Lender’s Pro Rata Share of the outstanding Swing Line Loan or Loans (provided, that failure of the Administrative Agent to deliver such notice shall not relieve the Revolving Lenders of their obligations to acquire participations in Swing Line Loans or to make Revolving Loans under this Section 2.4.5).

• Any benefits provided to an Employee under the Plan, including the right to receive any portion of the Employee Participation Amount, shall NOT vest until the occurrence of a Participation Event.

• Each Revolving Lender hereby absolutely and unconditionally agrees, promptly upon the occurrence of such Swingline Participation Event, to pay to the Administrative Agent, for the account of the Swingline Lender, such Lender’s Applicable Percentage of all such Swing Line Loans.

• If the Corporation proposes to effect a Participation Event, notice of such proposed Participation Event shall be given, within twenty (20) Business Days of the anticipated effective date of such Participation Event, by the Corporation by first-class mail to each record holder of shares of Preferred Stock, at such holder’s address as the same appears on the books of the Corporation.

• If you leave any personal belongings in the Hall, we will notify you of this and give you a period of time which is reasonable in all the circumstances to collect them.

• The EXCO Holdings' Board of Directors may modify, revise, or terminate this Plan at any time and from time to time prior to a Participation Event.

More Definitions of Participation Event

Participation Event shall have the meaning set forth in the Senior Preferred Certificate of Designation.

Participation Event means: (A) a Reorganization (as defined in Section 2(d)(vii) hereof), or (B) a transaction or series of transactions, other than any equity financings approved by the Board of Directors, in which any beneficial owner or group (as those terms are defined under Section 13(d) of the Securities Exchange Act of 1934, as amended the “Exchange Act”) that does not prior to such transaction or series of transactions beneficially own more than fifty percent (50%) of the voting securities of the Corporation acquires beneficial ownership of more than fifty percent (50%) of the voting securities of the Corporation; provided, however, that a Participation Event shall not extend to any Reorganization involving (1) only a change in the state of incorporation of the Corporation, (2) a merger of the Corporation with or into a wholly-owned subsidiary of the Corporation which is incorporated in the United States of America, or (3) an acquisition by merger, reorganization or consolidation, in which the Corporation is substantively the surviving corporation and operates as a going concern, of another corporation which is incorporated in the United States of America and which is engaged in a business similar to or related to the business of the Corporation and, in the case of clauses (1), (2) and (3), which does not involve a change in the terms of the Convertible Preferred or the Common Stock.

Participation Event means (i) a sale of all or substantially all of the assets of the Company, or (ii) a merger or consolidation of the Company with or into any other corporation (other than a merger or consolidation in which shares of the Company's Voting Securities outstanding immediately before such merger or consolidation are exchanged or converted into or constitute shares which represent more than 50% of the surviving entity's Voting Securities after such consolidation or merger), or (iii) a transaction or a series of transactions in which a Person or a group of Persons (as defined in Rule 13d-5(b)(I) of the Exchange Act) acquires beneficial ownership (as determined in accordance with Rule 13d-3 of the Exchange Act) of more than 50% of the Voting Securities of the Company, or (iv) a Qualified Public Offering, or (v) a Liquidity Event, or (vi) a liquidation, dissolution of winding-up the Company. A Participation Event shall not extend to any reorganization, merger or consolidation involving (1) only a change in the state of incorporation of the Company, (2) a merger of the Company with or into a wholly-owned subsidiary of the Company that is incorporated in the United States of America, or (3) an acquisition by merger, reorganization or consolidation, in which the Company is substantively the surviving corporation and operates as a going concern and is not the target in any such acquisition, of another corporation incorporated in the United States of America that is engaged in a business similar or related to the business of the Company and which does not involve a recapitalization of the Series C Preferred Stock.

Participation Event has the meaning ascribed to such term in Section 1(b).

Participation Event means the occurrence of any of the foregoing: (a) the Voyager Member’s and its Affiliate’s rights under the CDFF SAA are not assigned or contributed to the Company on or before three (3) months after December 23, 2023; (b) the CDFF SAA is terminated by NASA and a new, comparable agreement has not been entered into within six (6) months after such termination; (c) a mutually acceptable Technical Authority for the GEN 1 Space Station has not been put under contract by SDR or within three (3) months thereafter; [***] provided, however, that if a program milestone is not achieved within the applicable agreed upon timeframe set forth in this definition of Participation Event solely because of a unilateral decision by NASA to modify the CDFF SAA for reasons that are not attributable to the conduct of the Company, the Members shall amend this definition of Participation Event to modify the milestones set forth in this definition of Participation Event in a manner consistent with the NASA modifications, up to a maximum extension of one (1) year.

Participation Event means that a Basket Company takes a stake exceeding 20.00 per cent. of another separate Basket Company comprised within the same basket of Shares;