Examples of Repayment Event in a sentence
On any date following the Loan Repayment Event, the Trustee will, upon receipt of an Officer’s Certificate and opinion of counsel that the conditions thereto have been met and that the Springing Covenants are currently in effect, take such necessary actions to release (or cause the release of) the Collateral or cancel, terminate, amend or waive the Common Terms Agreement (or cause any of the foregoing), as directed by the Company.
No Shares will be provided or granted with respect to the Performance Award unless and until a Repayment Event has occurred.
Prior to the Loan Repayment Event, until the first day of such repayment, the Company will be subject to certain covenants of the Common Terms Agreement, including, among others, those related to the Incurrence of Indebtedness and the disposition of assets; except that the Company will not be subject to the Springing Covenants.
For the avoidance of doubt, a Repayment Event will be deemed to have occurred if the Investors refinance the Term Loan at the time of the Scheduled Maturity Date.