PIP Agreement definition

PIP Agreement shall have the meaning set forth in Section 11.3.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

PIP Agreement means any of the agreements referred to in paragraph A.2 (a) (ii) of Section I of Schedule 2 to this Agreement.

PIP Agreement means that certain Participation Interest Purchase Agreement, dated February 14, 2011, by and among Palaeontol V.B., the Company and MIE Holdings Corporation, a copy of which has been provided (or made publicly available through an electronic filing of with the SEC) to the Investors, which copy omits the Company Disclosure Schedule (as defined therein) and all other schedules, exhibits and annexes thereto, which the Company has determined are not material to the interests of the Investors under the Indenture, the Notes or this Agreement, together with any Permitted Amendments thereto.

Examples of PIP Agreement in a sentence

If Borrower or Operating Lessee receives from any Person any notice or claim of a monetary default or material non-monetary default or material nonperformance by Borrower under any PIP Agreement, Borrower will promptly transmit a complete copy of each such notice or claim to Lender and, upon Lender’s request, will at all times keep Lender informed, on a timely and current basis, of the status of such claim and any resolution or non-resolution thereof.
Pursuant to Section 8.19 of the PIP Agreement, Mr. Tolmakov and/or his affiliates will enter into certain leasing transactions as set forth therein (the “PIP Leases”) that are expressly permitted under Section 9.37 of the Indenture.
In the event that the PIP Agreement is Terminated and the terms of any of the PIP Leases do not conform to the otherwise applicable requirements set forth in Section 9.37 of the Indenture (a “Non-conforming Lease”), Mr. Tolmakov shall renegotiate, and shall cause his affiliates to renegotiate, as the case may be, promptly and in good faith the terms of any Non-conforming Lease so that the terms of such Non-conforming Lease shall reasonably satisfy the requirements of Section 9.37 of the Indenture.
Neither the PIP Transaction nor any provision included in the PIP Agreement (including, for the avoidance of doubt, any provisions thereof not provided or made available to the Noteholders) shall constitute an amendment, waiver or modification of any provision in this Indenture or the Notes.
If the PIP Agreement is Terminated, then as promptly as practicable, but no later than ten (10) Business Days after the date of such Termination, the Issuer will cause Emir Oil to become a party to this Indenture for the limited purpose of having Emir Oil agree to perform the covenants in Sections 9.2, 9.4, 9.6, 9.7, 9.37, 9.39, 9.40 and 9.43 insofar as they cover Emir Oil.
If, other than as expressly contemplated under the PIP Agreement, at any time prior to the payment in full of amounts due under the Notes and the Indenture, B▇▇▇▇ Cherdabayev or Toleush Tolmakov (each a “Selling Stockholder”) proposes to sell any shares of Common Stock to a third party (the “Proposed Transferee”), each holder of Notes shall be permitted to participate in such sale (a “Co-Sale”) on the terms and conditions set forth in this Article.
Subject to the terms and conditions of this Termination Agreement, the PIP Agreement is hereby terminated as of the date first written above (the “Termination Date”).
All Notices must be delivered as provided in Section 9.11 of the PIP Agreement.
Other than potential conflicts that may arise under the PIP Agreement, the Company is not, as of the date hereof, a party to, nor shall it, on or after the date of this Agreement, enter into, any agreement with respect to the Notes or the Company’s Common Stock that conflicts with the rights granted to the Investors in this Agreement.
Capitalized terms used and not defined in this Termination Agreement have the respective meanings assigned to them in the PIP Agreement.

More Definitions of PIP Agreement

PIP Agreement means that certain Participation Interest Purchase Agreement, dated February 14, 2011, by and among the Issuer, the Purchaser and MIE Holdings Corporation, an exempted company with limited liability organized under the laws of the Cayman Islands, a copy of which has been provided to the Noteholders, which copy omits the Company Disclosure Schedule (as defined therein) and all other schedules, exhibits and annexes thereto, which the Issuer has determined are not material to the interests of the Noteholders under this Indenture or the Notes, together with any Permitted Amendments thereto.

PIP Agreement means the agreement(s) to be entered into between each PIP Provider and the Recipient to select PIP Microprojects and carry out procurement and supervision of said microprojects, as referred to in Section I.D.1 of Schedule 2 to the Original Financing Agreement and further detailed in the PIP Manual.