Pledge Release Date definition

Pledge Release Date means the earlier of (a) the first date on which the Rating from S&P shall be not less than A- and the Rating from Moody's shall be not less than A3 and (b) the date on which the Borrower sells, transfers or otherwise disposes of all the Equity Interests in Avista Capital, Inc., in a transaction not prohibited by this Agreement.
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Pledge Release Date has the meaning assigned to it in Section 9.19.
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Pledge Release Date means the date on which the trustee releases the Collateral, which shall date be concurrent with, or subsequent to, the date that the trustee receives the Pledge Release Instruction stating that the Refinancing Condition has occurred.
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Examples of Pledge Release Date in a sentence

  • Subsequent to the Pledge Release Date, the Securities will rank junior to all of the secured indebtedness of the Company and the indebtedness of all of the Subsidiaries of the Company.

  • In connection therewith, the Borrower shall promptly deliver to the Administrative Agent a new fully executed Pledge Agreement and each of the items required pursuant to Section 7.14(a) with respect to the Equity Interests to be subject to such new Pledge Agreement, and Borrower shall thereafter comply with this Section 7.14 until the Equity Pledge Release Date.

  • So long as no Event of Default shall have occurred and be continuing, this Pledge Agreement shall terminate upon the earlier of (i) the payment in full in cash of the Secured Obligations and (ii) the Pledge Release Date (as defined in the Supplemental Indenture).

  • The Company shall also ensure that all Bidco Shares are subject to Security under the Bidco Share Pledge until the Bidco Pledge Release Date.

  • The Sale Shares (other than those owned by IFC) are subject to the Share Pledges and such Share Pledges shall only be released upon the Share Pledge Release Date.

  • So long as no Event of Default shall have occurred and be continuing, this Pledge Agreement shall terminate upon the earlier of (i) the payment in full in cash of the Secured Obligations and (ii) the Pledge Release Date (as defined in the Indenture).

  • Upon the date of execution and delivery of a Guaranty by a Restricted Subsidiary, the capital stock or other ownership interests of which has theretofore been subject to a Pledge Agreement (each such date, a "Pledge Release Date"), the Collateral Agent shall release and discharge, at the cost or expense of Borrower, such capital stock or other ownership interests from the liens and security interests created by such Pledge Agreement.

  • The Purchaser shall not transport Tendu leaves without a valid transport permit issued by the competent authority as contemplated under the said ▇▇▇▇▇▇▇▇▇ and the Niyamavali.

  • On the later of (i) the Initial Sale Shares Transfer Date and (ii) Share Pledge Release Date, Purchaser shall deliver a Power of Attorney to Vote to each Selling Shareholder relating to thirty (30) percent of such Selling Shareholder's Sale Shares being that number of Sale Shares set forth opposite such Selling Shareholder's name in the column entitled "30% Initial Closing/No, of Shares" in Schedule 2.1, duly executed and delivered by the Purchaser.

  • In addition, prior to the Pledge Release Date (as defined in the Indenture) the Securities will be secured by the pledge of an unsubordinated promissory note issued by Grupo Industrial Durango, S.A. de C.V. ("GID") to the Company on the date hereof, in a principal amount at least equal to the principal amount of the Outstanding Securities, as amended or supplemented from time to time.