Payment Block definition

Payment Block means any of the circumstances described in Section 2.05(b)(viii) and (ix).
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Payment Block has the meaning specified in Section 2.05(2)(g).
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Payment Block means any of the circumstances described in Section 2.10(h).
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Examples of Payment Block in a sentence

  • Following a Payment Block Event and for as long as it is continuing, no repurchases of Bonds may be made by the Issuer or any Group Company for as long as a Payment Block Event is continuing.

  • Upon the occurrence of a Payment Block Event, any amounts paid under the Senior Debt (despite the Payment Block) shall be applied in accordance with the Section "Application of Enforcement Proceeds".

  • Following a Payment Block Event and for as long as it is continuing, no payments may be made by the Issuer to the Bondholders under or in relation to the Bonds (notwithstanding any other provisions to the contrary herein).

  • Following a Payment Block Event and for as long as such is continuing and until the earlier of (i) the taking of Enforcement Actions in accordance with the Intercreditor Agreement and (ii) a written notice from Super Senior Representative to the Security Agent to the contrary, no payments of principal or interest in respect of the Senior Debt shall be made to the Senior Creditors (notwithstanding any other provisions to the contrary herein).

  • No repurchases or redemption of Notes may be made by the Issuer or any Group Company for as long as a Payment Block Event is continuing.


More Definitions of Payment Block

Payment Block is defined in Section 2.4.
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Payment Block means any of the circumstances described in Section 2.05(b)(viii) and (ix). “PBGC” means the Pension Benefit Guaranty Corporation.
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Payment Block means either of the following:
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Payment Block means any of the circumstances described in Section 2.10(h). “Payment Notice” shall have the meaning assigned to such term in Section 9.13(b). “Payment Recipient” shall have the meaning assigned to such term in Section 9.13(a). “PBGC” shall mean the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor entity performing similar functions. 38 US-DOCS\121951479.16133960081.2
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Payment Block has the meaning specified in Section 2.05(b)(viii)(A).
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Payment Block has the meaning specified in Section 2.05(b)(ix). “PBGC” means the Pension Benefit Guaranty Corporation. “Pension Funding Rules” means the rules of the Code and ERISA regarding minimum required contributions (including any installment payment thereof) to Plans and set forth in Section 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA. “Perfection Certificate” means that certain Perfection Certificate, dated as of the date hereof, executed by the Borrower. “Perfection Exceptions” means that (a) with respect to any Collateral located in the United States, no Loan Party shall be required to (i) other than as expressly required by the Security Agreement, enter into control agreements with respect to, or otherwise perfect any security interest by “control” (or similar arrangements) over securities accounts, deposit accounts, other bank accounts, cash and cash equivalents and accounts related to the clearing, payment processing and similar operations of the Borrower and the Restricted Subsidiaries, (ii) perfect any pledge, security interest or mortgage other than by, as applicable, (1) the filing of a UCC-1 financing statement, (2) the filing in any applicable real estate records in the United States with respect to any mortgaged property or any fixture relating to any mortgaged property,
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Payment Block. 13.2 (c) "Payment Notice" 13.2 (c)
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