Reinstatement Event definition

Reinstatement Event means the final 2021 Deferral Final Repayment Date or any date when all Deferral Tranches under the Delivered Vessel Facilities (as defined therein) are repaid or prepaid in full.

Reinstatement Event has the meaning specified in Section 6.14(d).

Reinstatement Event means, after a Suspension Date, that the most recently announced Corporate Rating of the BorrowerHoldings by at least two of the Rating Agencies shall not be an Investment Grade Rating, or at least two of the Rating Agencies shall have ceased to publish a Corporate Rating with respect to the BorrowerHoldings, or the Borrower notifies the Administrative Agent in writing that it has elected to terminate the Suspension Period.

Examples of Reinstatement Event in a sentence

• Additionally, for the purpose of a Reinstatement pursuant to clause (ii) of the definition of "Mandatory Reinstatement Event", the Mandatory Reinstatement Amount will be computed so that the Notes will be reinstated by a principal amount which is the same in percentage terms as the largest increase in principal amount of such Parity Securities.

• Mandatory Reinstatement Event means (i) a Restricted Payment, or (ii) the increase by the Issuer of the principal amount of any Parity Securities other than the Notes, the terms of which contain a provision for the reinstatement of their principal amount similar to that of the Notes.

• Notwithstanding anything to the contrary contained herein, any Permitted Credit Agreement Refinancing Indebtedness incurred, assumed or existing during a Collateral Release Period shall be unsecured and shall not include provisions requiring the securing of such Indebtedness except upon the occurrence of a Collateral Reinstatement Event, and only after (or substantially simultaneously with) the grant of Liens securing the Obligations, and subject to an Acceptable Intercreditor Agreement.

• Promptly (and in any event within 90 days (as such deadline may be extended by the Administrative Agent in its sole discretion)) after the occurrence of a Collateral Reinstatement Event, the Borrower shall, and shall cause each of its Subsidiaries (as applicable), at the Borrowers’ sole expense, to comply with the Collateral and Guarantee Requirement (including without limitation the delivery of documentation and taking of actions of the type described in Section 6.12).

• Irrespective of whether a Return to Profitability has occurred, the Issuer shall increase the Current Principal Amount of the Notes in an amount equal to the Mandatory Reinstatement Amount on any date that it determines if (i) a Mandatory Reinstatement Event has occurred since the Absorption Year End, and (ii) the Issuer has not since such Mandatory Reinstatement Event occurred made a Reinstatement up to the Original Principal Amount pursuant to the provisions of the immediately preceding paragraph.

More Definitions of Reinstatement Event

Reinstatement Event means, with respect to the Company, the first to occur of: (i) the Leverage Ratio on the last day of each of four (4) consecutive Fiscal Quarters being equal to or greater than 2.50:1.00, (ii) the Company’s long term unsecured credit rating from Fitch or S&P being less than Investment Grade or (iii) the Company or any of its Subsidiaries granting in favor of the Reporting Indebtedness a Lien on any of its assets or Property, including the Collateral, as security therefor and not otherwise granted equally and ratably to the Secured Parties.

Reinstatement Event means any of the following:

Reinstatement Event means, at any time with respect to any Person that was a Qualified Subsidiary and was released from its Qualifying Guaranty prior to such time as a result of a Release Event, the occurrence of a borrowing by such Person of any loan under, or the issuance of any letter of credit for the benefit of such Person pursuant to, the Revolving Credit Agreement.

Reinstatement Event means, so long as no Default or Event of Default exists at such time, the Borrower's achievement, for two consecutive fiscal quarters, of Quarterly EBITDA no less than the amount set forth below for the one fiscal quarter ending on the applicable date set forth beside such amount below:

Reinstatement Event means such time as no Default or Event of Default exists under the Credit Agreement and other Loan Documents, provided that, in making such determination, Consolidated Cash Flow shall be calculated without regard to the provisions of clause (v) of the definition thereof (i.e. the amount of the Permitted Triarc Prepayments shall not be included in the calculation thereof).

Reinstatement Event. “Release Event”, “Secured Parties”, “Security Documents”, and “Subsidiary Guarantees”.

Reinstatement Event means, at any time, that the Debt Rating is lower than BBB- by S&P and lower than Baa3 by Moody’s.