Payment Event definition

Payment Event means the event or events giving rise to the right to payment of a Performance Award.

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Payment Event means any of the following:

Payment Event means (a), the Debt Service Coverage Ratio with respect to any DSCR Determination Date is less than or equal to 1.50 to 1.00 (including if the Debt Service Coverage Ratio is less than or equal to 1.25 to 1.00), or (b) an Event of Default or Term Trigger Event has occurred. A Payment Event shall be deemed continuing until (i) with respect to clause (a), the Debt Service Coverage Ratio is greater than 1.50 to 1.00 on a DSCR Determination Date or (ii) such Event of Default or Term Trigger Event shall no longer be continuing.

Examples of Payment Event in a sentence

• Transaction, such proceeds shall be released from the escrow account and applied to the prepayment of principal and interest under the Payment Event Note as contemplated pursuant to Section 2.3(b) within three (3) Business Days of written request therefor made by the Noteholder and (ii) upon consummation of such NETD Alt.

• Transaction, (i) Noteholder shall give the Company prompt written notice thereof and (ii) the outstanding principal balance of the Payment Event Note shall be cancelled in full by the Noteholder as of the date of consummation of a NETD Alt.

• Transaction; provided that, within five (5) Business Days of receipt by the Company of the notice referred to in clause (i), the Company shall pay to Noteholder all accrued and unpaid interest on the Payment Event Note through, but not including, the date on which the NETD Alt.

• Transaction, any amounts that would otherwise have been required to prepay principal or interest on the Payment Event Note in connection with any Payment Event shall be deposited into an escrow account pursuant to an escrow agreement on terms acceptable to the Noteholder and (y) (i) if the definitive agreement is terminated prior to the consummation of such NETD Alt.

More Definitions of Payment Event

Payment Event means the time at which a Deferred Annual Award may be paid pursuant to Section 4.2.

Payment Event has the meaning specified in Section 5.03(d).

Payment Event means the earliest of the following: Retirement, death, Separation from Service other than due to Retirement or death, or Disability.

Payment Event means the applicable event triggering a payment of vested benefits under the Plan. The applicable event shall be one of the following:

Payment Event means the termination of this Agreement pursuant to:

Payment Event means the termination of this Agreement pursuant to Section 12.1(a)(iv) or (v).

Payment Event has the meaning set forth in Section 6.8(g).