Reallocation Event definition

Reallocation Event means an event which causes an Unfunded L/C Obligation to cease to exist without becoming a Funded L/C Obligation, including the termination of a Letter of Credit without being drawn upon.

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Reallocation Event means any Acquisition during the Restricted Period of the stock of a Spinoff Party (other than a Disposition or an Issuance) that could reasonably be viewed as increasing the ownership shift with respect to such Spinoff Party for purposes of Section 355(e) of the Code, taking into account any available safe harbors under Treasury Regulations Section 1.355-7 (and the amount of such increase, the “Reallocation Event Reduction”). This definition and the application thereof is intended to monitor compliance with Section 355(e) of the Code and the Treasury Regulations promulgated thereunder and shall be interpreted accordingly by the Parties in good faith.

Reallocation Event means any event involving a reallocation of Och-Ziff Operating Group Units pursuant to the respective Och-Ziff Operating Group Agreements.

Examples of Reallocation Event in a sentence

Upon any Reallocation Event, the Reallocation Share Amount held by the Reallocation Group prior to giving effect to such Reallocation Event shall be automatically reallocated to the Continuing Initial Class B Shareholders on a pro rata basis among all such Continuing Initial Class B Shareholders, based on the number of Class B Shares held of record by each such Continuing Class B Shareholder as of the closing of the IPO.
Upon a Reallocation Event with respect to HLT stock or HGV stock, the Blackstone Representative, on the one hand, and the relevant Spinoff Party, on the other, shall use reasonable efforts to allocate the Reallocation Event Reduction to and reduce the Blackstone-HLT Percentage Shift Limit and/or HLT Percentage Shift Limit, or Blackstone-HGV Percentage Shift Limit and/or HGV Percentage Shift Limit, as applicable.
If the Blackstone Representative and PK do not agree on an allocation, the Reallocation Event Reduction shall first be allocated to and reduce the PK Percentage Shift Limit (but not below the PK Applicable Percentage as of the time of the Reallocation Event).
Any excess Reallocation Event Reduction shall be allocated to and reduce the Blackstone-PK Percentage Shift Limit (but not below the Blackstone-PK Applicable Percentage as of the time of the Reallocation Event).
Notwithstanding anything to the contrary in this Section 5.4(f), if the Blackstone Representative or PK provides an Unqualified 355(e) Opinion with respect to a purported Reallocation Event to HLT, such purported Reallocation Event shall not constitute a Reallocation Event.

More Definitions of Reallocation Event

Reallocation Event means, on Volatility Observation Date(t),

Reallocation Event means the acceleration of all or part of the Obligations.

Reallocation Event has the meaning set forth in the Stockholders Agreement.

Reallocation Event means the occurrence of any event (as determined by the Administrative Agents acting in good faith) that results in the aggregate principal amount outstanding at such time of the Principal Property Secured Term Indebtedness being less than $900 million.

Reallocation Event has the meaning set forth in Section 4.2(b) hereof.

Reallocation Event means (i) an acceleration of the Loans, (ii) the occurrence and continuation of an Event of Default under subsections 8.1(A), (G) or (H) or (iii) the sale, liquidation or other realization on a material portion of the Collateral (through a single disposition or a series of related dispositions) by Agent or by any Loan Party at the direction of Agent upon the occurrence and during the continuation of an Event of Default.

Reallocation Event will occur when the ratio (the "Gap Ratio") of (x) the difference between the value of the Dynamic Portfolio Index and the Bond Floor to (y) the value of the Dynamic Portfolio Index allocated to the Income 10 Buy-Write Index Portfolio is less than or greater than certain predetermined ratios. The calculation agent will determine whether a Reallocation Event has occurred at the beginning of each Index Business Day up to and including the fifth Index Business Day prior to the Stated Maturity Date. A Reallocation Event will be deemed to have occurred if the Gap Ratio is below 15% or above 25% at the close of business on the previous Index Business Day. For purposes of determining a Reallocation Event, the value of notional call options in the Income 10 Buy-Write Index will be determined using mid-market implied volatility. If the calculation agent determines that a Reallocation Event has occurred, the calculation agent will determine the Reallocation Percentage (as described below), or the percentage of the Dynamic Portfolio Index's value that must be allocated to the Income 10 Buy-Write Index Portfolio pursuant to the reallocation methodology. The Reallocation Percentage will be determined on the basis of values at the close of business on the previous Index Business Day. At the close of business on the Index Business Day on which a Reallocation Event has occurred, the calculation agent will reallocate the value of the Dynamic Portfolio Index. Reallocations will involve notional sales and purchases of Income 10 Buy-Write Index units and bond units. The number of Income 10 Buy-Write Index units to be notionally sold or purchased will be determined by the calculation agent at the beginning of each Index Business Day. However, those notional sales or purchases will be effected at the values (as determined by the calculation agent) of Income 10 Buy-Write Index units and bond units at the close of business on the date of reallocation. Any reallocation on the last day of any quarterly calculation period will be effected through the notional purchase or sale of Income 10 Buy-Write Index units at a price that includes the notional income on the Income 10 Buy-Write Index for that quarterly calculation period. Notional purchases of Income 10 Buy-Write Index units will be made at prices that reflect the value of notional call options determined using bid-side implied volatility and notional sales of