Springing Lien Trigger Date definition

Springing Lien Trigger Date means the earliest date on which a Springing Lien Trigger Event has occurred.

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Springing Lien Trigger Date means, the earliest date on which (1) the aggregate principal amount of the Legacy Notes outstanding is $500,000,000 or less, (2) the Legacy Notes Indenture has been amended or otherwise modified to remove or limit the applicability of the limitation on mortgages covenant set forth in the Legacy Notes Indenture, (3) any Legacy Notes are secured or become required to be secured by a Lien on any Springing Lien Collateral or (4) the General Credit Facilities are secured by a Lien on any Springing Lien Collateral (other than any such Lien securing the General Credit Facilities permitted under the Legacy Notes Indenture solely pursuant to the basket in the Legacy Notes Indenture that is determined by reference to 15% of the total consolidated stockholders’ equity of the Issuer as shown on the Issuer’s audited consolidated balance sheet contained in the latest annual report to its stockholders (as the Legacy Notes Indenture is in effect on the Issue Date).

Springing Lien Trigger Date means the earlier of (i) the date on which the principal of and interest on indebtedness outstanding under the Karlsson Note is paid in full and (ii) the Project Financing Facility Closing Date.

Examples of Springing Lien Trigger Date in a sentence

After the Springing Lien Trigger Date, the Obligors shall not open or maintain any bank account or similar deposit arrangement that is not subject to a Lien in favor of the holders of the Notes except with the prior written consent of the Majority Purchasers.
Prior to the Springing Lien Trigger Date, the Dollar Notes are senior unsecured obligations of the Company.
Following the Springing Lien Trigger Date, the Dollar Notes will be senior secured obligations of the Company.
Following the Springing Lien Trigger Date, the Euro Notes will be senior secured obligations of the Company.
Prior to the Springing Lien Trigger Date, the Euro Notes are senior unsecured obligations of the Company.
If such Grantor fails to do so after a Springing Lien Trigger Date and during the continuance of the applicable Collateral Period, the Administrative Agent may (but shall not be obligated to) pay the cost of such taxes, levies or impositions for the account of such Grantor and add the amount of such payments to the Obligations.
Following the Springing Lien Trigger Date, the Intercreditor Agreement will define the relative rights of holders of Second Priority Liens and holders of Liens securing First Priority Obligations.
By: Name: Title: M▇▇▇▇ ILERI TEKNOLOJI A.S. By: Name: Title: COLLATERAL AGENT: U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Collateral Agent By: Name: Title: 1 NTD: All schedules to be completed prior to the Springing Lien Trigger Date as may be reasonably acceptable to the Lead Investor.
For purposes of the perfection of the Lenders’ security interest in the Collateral in accordance with the requirements of this Security Agreement, each Grantor authorizes the Administrative Agent, upon a Springing Lien Trigger Date and at any time during a Collateral Period, to file financing statements, continuation statements and amendments thereto that describe the Collateral.
Prior to the Springing Lien Trigger Date, the Euro Notes and the applicable Note Guarantees are unsecured obligations of the Company and the Note Guarantors, respectively, and are effectively subordinated to all existing and future Secured Indebtedness of the Company and the Note Guarantors, as applicable, to the extent of the value of the assets securing such Indebtedness.

More Definitions of Springing Lien Trigger Date

Springing Lien Trigger Date means the date on which Liens on the Collateral are first granted to secure Obligations under the Springing Notes in accordance with the terms thereof.

Springing Lien Trigger Date means any date prior to the Liquidity Covenant Termination Date on which the Public Debt Rating from (i) S&P is BB or lower (or if there is no Public Debt Rating from S&P) and (ii) ▇▇▇▇▇’▇ is Ba2 or lower (or if there is no Public Debt Rating from Moody’s).

Springing Lien Trigger Date means each date on which a Springing Lien Trigger Event has occurred.

Springing Lien Trigger Date means December 31, 2017 in the event that (a) any Obligations under this Agreement remain outstanding as of such date and (b) the Existing Revolving Credit Agreement is secured by Liens granted pursuant to the Mortgage as of such date.

Springing Lien Trigger Date means the first day on which an Event of Default has occurred.

Springing Lien Trigger Date means the date that is the earlier of (i) 30 days following the date upon which there are no restrictions on the Incurrence of Secured Indebtedness under the Old Second Lien Notes (including through the retirement or discharge of such notes) so long as, on such date, the grant of a security interest in the assets and property of the Company and the Note Guarantors to secure the Notes is permitted under the agreements governing the First Priority Obligations outstanding on such date (and, if not so permitted on such date, the Springing Lien Trigger Date shall be the earliest date thereafter on which such grant of a security interest in such assets to secure the Notes is permitted under all agreements governing outstanding First Priority Obligations), (ii) the date on which the Company or any Note Guarantors Incurs any Secured Indebtedness (other than First Priority Obligations) secured by junior priority Liens on the collateral securing First Priority Obligations and (iii) a date designated by the Company in its sole discretion.