Permitted Cure Securities definition

Permitted Cure Securities means any equity securities of the Borrower, Holdings or any Parent Entity issued pursuant to the Cure Right other than Disqualified Stock.

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Permitted Cure Securities means any Equity Interests of the Company other than Disqualified Stock, and upon which all dividends or distributions (if any) shall, prior to 91 days after the Latest Maturity Date, be payable solely in additional shares of such Equity Interests; provided that Equity Interests constituting Permitted Cure Securities when issued shall not cease to constitute Permitted Cure Securities as a result of the subsequent extension of the Latest Maturity Date.

Permitted Cure Securities common equity securities of Holdings or any Parent Entity or other equity securities of Holdings or any Parent Entity that do not constitute Disqualified Capital Stock.

Examples of Permitted Cure Securities in a sentence

• Upon the occurrence of a Liquidity Event, Holdings may, within ten (10) days of the date of such occurrence, deliver a fully executed notice (a “Liquidity Event Cure Notice”) to Administrative Agent and Collateral Agent of its intention to issue Permitted Cure Securities for cash or otherwise receive cash contributions to the capital of Holdings, and, in each case, to contribute any such cash to the capital of the Borrowers (collectively, the “Liquidity Event Cure Right”).

• Upon the occurrence of a Liquidity Event, Holdings may, within three (3) days of the date of such occurrence, deliver a fully executed notice (a “Liquidity Event Cure Notice”) to Administrative Agent and Collateral Agent of its intention to issue Permitted Cure Securities for cash or otherwise receive cash contributions to the capital of Holdings, and, in each case, to contribute any such cash to the capital of the Borrowers (collectively, the “Liquidity Event Cure Right”).

• The Borrower shall apply all proceeds of Permitted Cure Securities or cash contributions described in Section 7.02 promptly upon (and in any event within three Business Days of) receipt thereof to prepay Loans made to the Borrower in accordance with paragraph (c) of Section 2.

• Upon the sale or issuance by any Loan Party or any of its Subsidiaries of any Permitted Cure Securities pursuant to Section 8.04, or the receipt by any Loan Party of additional paid in capital pursuant to Section 8.04, Borrower shall prepay an aggregate principal amount of Loans equal to all Net Cash Proceeds received therefrom immediately upon receipt thereof by any such Loan Party or such Subsidiary.

• Notwithstanding the foregoing, the Borrower will not, nor will it permit any Subsidiary to, declare or make, or agree to pay or make, directly or indirectly, any Restricted Payment payable in cash prior to the date that is 180 days after the Term Maturity Date, or incur any obligation (contingent or otherwise) to do so in connection with the issuance of Permitted Cure Securities.

More Definitions of Permitted Cure Securities

Permitted Cure Securities means an equity security of Holdings having no mandatory redemption, repurchase, repayment or similar requirements prior to the six-month anniversary of the Term Loan Maturity Date and upon which all dividends or distributions, at the election of Holdings, may be payable in additional shares of such equity security.

Permitted Cure Securities any Qualified Equity Interest in Holdings.

Permitted Cure Securities means Qualified Equity Interests of the Borrower in the form of common equity or in such other form as is reasonably acceptable to the Administrative Agent, in each case, issued pursuant to Section 7.02.

Permitted Cure Securities means any Equity Interests of Holdings other than Disqualified Equity Interests.

Permitted Cure Securities. (a) common Capital Stock of any Parent or the Parent Borrower, (b) Junior Capital and (c) other Capital Stock on terms and conditions reasonably satisfactory to the Administrative Agent.

Permitted Cure Securities. (a) any common equity security of Holdings and/or (b) any equity security of Holdings having no mandatory redemption, repurchase or similar requirements prior to 91 days after the date final payment is due on the Term Loans, and upon which all dividends or distributions (if any) shall be payable solely in additional shares of such equity security.

Permitted Cure Securities any equity interests of the Borrower that do not constitute Disqualified Stock.