Definition of Preference Expiration Date


Preference Expiration Date means the date which is ninety-one (91) days after the date the required Additional Enhancer Collateral is delivered to AEC Custodian pursuant to Section 8.22 of the Participation Agreement and the security interest of the Benefited Participants therein is duly perfected (as such date would be determined for purposes of the preference provisions of the United States bankruptcy laws).

Examples of Preference Expiration Date in a sentence

At the earlier of (i) receipt by the management board of a written request of the relevant holder of class B ordinary shares with respect to the number of class B ordinary shares specified by such holder, (ii) acquisition by the Company of one or more class B ordinary shares or (iii) upon the Liquidation Preference Expiration Date with respect to each outstanding class B ordinary share, each such class B ordinary share will be converted into one (1) class A ordinary share.
In the event of a Liquidation prior to the Liquidation Preference Expiration Date, from the balance, if any, remaining after payment of all creditors of the Company, to the extent possible, an amount equal to the Class B Liquidation Preference, minus any amount distributed to the class B ordinary shares following a Deemed Liquidation, if any, will be distributed to each holder of class B ordinary shares with respect to each class B ordinary shares held.
Debt" appearing in Appendix 1 to the Existing Participation Agreement is hereby amended by adding immediately after the end of the sentence thereof the following reference: ", but excluding Indebtedness with respect to the issuance of debt convertible into equity securities of the Lessee, which, if issued prior to the Preference Expiration Date, will be unsecured and in an aggregate principal amount not exceeding $500 million".
Indebtedness" appearing in Appendix 1 to the Existing Participation Agreement is hereby amended by adding immediately after the end of clause (f) thereof, the following: "; provided, that Indebtedness of any Person shall not include issuance of debt convertible into equity securities of the Lessee, which, if issued prior to the Preference Expiration Date, will be unsecured and in an aggregate principal amount not exceeding $500 million".
Class B Liquidation Preference: Upon a Liquidation, prior to the Liquidation Preference Expiration Date, subject to the payment or provision for payment of the debts and other liabilities of New Topco, each outstanding Class B Share will be entitled to receive, out of the remaining assets of New Topco available for distribution to its stockholders, an amount equal to $10.61 per Class B Share (the “Class B Liquidation Preference Amount”) before any distribution will be made to the holders of Class A Shares.