Transition Event definition

Transition Event means the earlier of (i) Fiscal Year 2055/56 or (ii) the Fiscal Year when the CFD Administrator determines that both of the following events have occurred: (a) all Bonds secured by the levy and collection of the Special Tax in CFD No. 2020-1 have been fully repaid and the District determines that no additional Bonds are to be issued, and (b) all Administrative Expenses from prior Fiscal Years have been paid or reimbursed to the District.

Transition Event means the events or circumstances that resulted in a Stabilized Industrial Property becoming a Transition Property.

Transition Event means (a) with respect to the AADC Program, Voyager’s receipt of topline data with respect to the Existing Pivotal Trial, (b) with respect to the FA Program, Voyager’s receipt of topline data with respect to the first Phase 1 Clinical Trial for a Product in the FA Program, and (c) with respect to the Discovery Programs, preparation by Voyager and approval by Neurocrine of the IND to be filed by Neurocrine for the first Development Candidate in each such Discovery Program.

Examples of Transition Event in a sentence

• Notwithstanding anything to the contrary herein or in any other Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement.

• Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all Lenders and the Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Required Lenders.

• The Administrative Agent will promptly notify the Borrower and the Lenders of (i) any occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date and Benchmark Transition Start Date, (ii) the implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes and (iv) the commencement or conclusion of any Benchmark Unavailability Period.

• Upon the occurrence of a Benchmark Transition Event, Section 2.14(b) provides a mechanism for determining an alternative rate of interest.

• For the avoidance of doubt, the Administrative Agent shall not be required to deliver a Term SOFR Notice after a Term SOFR Transition Event and may do so in its sole discretion.

More Definitions of Transition Event

Transition Event means (i) the death of Fxxxx Xxxxxxxx; (ii) the Mental Incompetency of Fxxxx Xxxxxxxx; (iii) the voluntary resignation of Fxxxx Xxxxxxxx as the appointee under the First Authorization; (iv) the voluntary resignation of Fxxxx Xxxxxxxx as Trustee of Stronach Trust; and (v) the failure by, or the inability of, Fxxxx Xxxxxxxx to exercise his powers as and when required under the First Authorization not due to his death, Mental Incompetency or abstention;

Transition Event means either (i) the conversion of a Trust Mortgage Loan to a REO Property, (ii) the conversion of a REO Property to a Rental Property under clauses (ii) and (iii) of the definition of Rental Property subsequent to the Purchase Date or related Purchase Price Increase Date, as applicable, or (iii) the extinguishment of an Existing Lien on a Trust Mortgage Loan or REO Property.

Transition Event has the meaning set forth in the Receivables Purchase Agreement.

Transition Event means the occurrence of any of the following: (i) an Event of Termination, (ii) the reduction of the Coverage Ratio to below 102%, (iii) the Termination Date, and (iv) WMECO's senior secured debt shall be rated BB or lower by Standard & Poor's or Ba2 or lower by Moody's.

Transition Event means (i) the death of Frank Stronach; (ii) the mental incompetency of Frank Stronach xxx xxxxxxxx xf the FS Appointment; (iii) the voxxxxxxx xxxxxnation of Frank Stronach as the appointee under the FS Appointment; (iv) xxx xxxxxtary resignation of Frank Stronach as Trustee of Stronach Trust; and (v) the failure xx xxxxxxxxx of Frank Stronach to exercise his powers as and when required undex xxx XX Xxxxxxtment not due to his death, mental incompetency or abstention.

Transition Event has the meaning set forth in Section 10.14

Transition Event means, at any time, to be tested by Silicon as of the end of each month, the Borrower's failure to maintain at least $5,000,000.00 in (i) cash deposits maintained at Silicon, and/or (ii) excess "availability" under this Agreement (net of Loans, Letters of Credit or other indebtedness under this Agreement), as determined by Silicon based upon the Credit Limit restrictions set forth in Section 1 of the Schedule hereto.