Use Period definition
Use Period means the period commencing on the date that the ABL Agent or an agent acting on its behalf (or an ABL Credit Party acting with the consent of the ABL Agent) commences the liquidation and sale of the ABL Priority Collateral in a manner as provided in Section 3.6 hereof (having theretofore furnished the Controlling Term Agent with an Enforcement Notice) and ending 180 days thereafter. If any stay or other order that prohibits any of the ABL Agent, the other ABL Secured Parties or any ABL Credit Party (with the consent of the ABL Agent) from commencing and continuing to Exercise Any Secured Creditor Remedies or from liquidating and selling the ABL Priority Collateral has been entered by a court of competent jurisdiction, such 180-day period shall be tolled during the pendency of any such stay or other order and the Use Period shall be so extended.
Use Period means the period of time during which a Member has the right to use and occupy an Accommodation.
Use Period means, with respect to the Notes Priority Collateral, the period, after the commencement of an Enforcement Period by the ABL Agent, which begins on the earlier of (a) the day on which the ABL Agent provides each First Lien Agent with an Enforcement Notice and (b) the fifth Business Day after the Applicable First Lien Agent provides the ABL Agent with notice that the Applicable First Lien Agent (or its agent) has obtained possession or control of such Collateral and ends on the earliest of (i) the 270th day after the date (the “Initial Use Date”) on which the ABL Agent, or its designee, initially obtains the ability to take physical possession of, remove, or otherwise control physical access to, or actually uses, such Notes Priority Collateral plus such number of days, if any, after the Initial Use Date that it is stayed or otherwise prohibited by law or court order from exercising remedies with respect to such Notes Priority Collateral and (ii) the termination of such Enforcement Period.
Examples of Use Period in a sentence
If the User cancels the dates set forth in the Rental Agreement less than seven (7) days prior to the scheduled Use Period, the User may receive up to a fifty percent (50%) refund of the Rental Fee at the Town’s sole discretion.
If the User has any remaining balance prior to the final date of the Use Period, the User authorizes the Town to automatically process such outstanding balance with the payment information provided by the User, or which the Town has on file, the week before the commencement of the Use period.
Individual dates may be changed or canceled seven (7) or more days prior to the scheduled Use Period.
Payments for Ongoing Reservations that are subject to a payment plan will be processed once per month during the Use Period, on a date mutually agreeable to the Town and the User (specified by the Town).
If proper advanced notice is not provided for any scheduled date during the Use Period, the Town will not issue a refund.
More Definitions of Use Period
Use Period means the period, after the commencement of an Enforcement Period, which begins on the day that the ABL Agent provides the Term Agent with an Enforcement Notice and ends on the 210th day thereafter, plus such number of days, if any, during which any stay or other order that prohibits any of the ABL Agent or the other ABL Secured Parties (with the consent of the ABL Agent) from commencing and continuing to Exercise Any Secured Creditor Remedies or to liquidate and sell the ABL Collateral has been entered by a court of competent jurisdiction.
Use Period means the period commencing on the date that the ABL Agents (or an ABL Loan Party acting with the consent of the ABL Agents) commence the liquidation and sale of the ABL Priority Collateral and ending 180 days thereafter. If any stay or other order that prohibits any of the ABL Agents, the other ABL Secured Parties or any ABL Loan Party (with the consent of the ABL Agents) from commencing and continuing to Exercise Any Secured Creditor Remedies or to liquidate and sell the ABL Priority Collateral has been entered by a court of competent jurisdiction, such 180-day period shall be tolled during the pendency of any such stay or other order and the Use Period shall be so extended.
Use Period means the period commencing on the date that the ABL Agent (or an ABL Credit Party acting with the consent of the ABL Agent) commences the liquidation and sale of the ABL Priority Collateral in a manner as provided in Section 3.6 (having theretofore furnished the Cash Flow Agent with an Enforcement Notice) and ending 180 days thereafter (but in no event later than 270 days following the date the Cash Flow Agent provides an Enforcement Notice to the ABL Agent). If any stay or other order that prohibits any of the ABL Agent, the other ABL Secured Parties or any ABL Credit Party (with the consent of the ABL Agent) from commencing and continuing to Exercise Any Secured Creditor Remedies or to liquidate and sell the ABL Priority Collateral has been entered by a court of competent jurisdiction, such 180-day period and 270-day period shall be tolled during the pendency of any such stay or other order and the Use Period shall be so extended.
Use Period means, with respect to each parcel or item of Term Priority Collateral, the period, following the commencement of any Exercise of Any Secured Creditor Remedies, which begins on the earlier of (a) the day on which the ABL Agent provides the Designated Term Agent with the notice of its election to request access to such parcel or item of Term Priority Collateral pursuant to Section 3.5(b) and (b) the fifth Business Day after the Designated Term Agent provides the ABL Agent with notice that the any Term Agent (or its agent) has obtained possession or control of such parcel or item of Term Priority Collateral and ends on the earliest of (i) the day which is 180 days after the date on which the ABL Agent initially obtains the ability to take physical possession of, remove or otherwise control physical access to, or actually uses, such parcel or item of Term Priority Collateral, plus such number of days, if any, during such 180 day period that it is stayed or otherwise prohibited by law or court order from exercising remedies with respect to associated ABL Priority Collateral, (ii) the date on which (A) all or substantially all of the ABL Priority Collateral associated with such parcel or item of Term Priority Collateral is sold, collected or liquidated or (B) the ABL Agent has abandoned the ABL Priority Collateral at such parcel or permanently ceases efforts to liquidate, complete, sell, prepare for sale, store or otherwise exercise the rights provided under Section 3.5(b) with respect to the ABL Priority Collateral with respect to any item or parcel of Term Priority Collateral and confirms in writing such facts to the Designated Term Agent (or fails to respond within ten (10) Business Days to a written request from the Designated Term Agent to so confirm) or, (iii) the Discharge of ABL Obligations and (iv) the date on which the default which resulted in such Exercise of Any Secured Creditor Remedies has been waived in writing.
Use Period means, (y) with respect to the Notes Priority Collateral, the period, after the commencement of an Enforcement Period by the Revolving Collateral Agent, which begins on the day on which the Revolving Collateral Agent provides the Notes Collateral Agent with an Enforcement Notice and ending on the earlier to occur of (i) 270 days thereafter, (ii) the Discharge of Revolving Obligations, and (iii) the waiver in writing by the applicable Revolving Claimholders of a default that gave rise to such Enforcement Notice and (z) with respect to the Revolving Priority Collateral, the period, after the commencement of an Enforcement Period by the Notes Collateral Agent, which begins on the day on which the Notes Collateral Agent provides the Revolving Collateral Agent with an Enforcement Notice and ending on the earlier to occur of (i) 270 days thereafter, (ii) the Discharge of Notes Obligations and (iii) the waiver in writing by the applicable Notes Claimholders of a default that gave rise to such Enforcement Notice. If any stay or other order that prohibits any of the Revolving Collateral Agent, the other Revolving Claimholders, Notes Collateral Agent and the Notes Claimholders from commencing and continuing to Exercise any Secured Creditor Remedies or to liquidate and sell the Revolving Priority Collateral or Notes Priority Collateral, as applicable, has occurred by operation of law or has been entered by a court of competent jurisdiction, such 270-day period shall be tolled during the pendency of any such stay or other order and the Use Period shall be so extended and upon lifting of the automatic stay, if there are fewer than 120 days remaining in such 270 day period, than such 270 day period shall be extended so that the Revolving Collateral Agent, the Revolving Claimholders, Notes Collateral Agent and the Notes Claimholders have 120 days upon lifting of the automatic stay.
Use Period means the period commencing on the earlier of (i) the date that the ABL Agent (or an ABL Loan Party acting with the consent of the ABL Agent) commences the liquidation and sale of the ABL Priority Collateral in a manner as provided in Section 3.6 (having theretofore furnished the Term Agent with an Enforcement Notice) or (ii) the date which is fifteen (15) days after receipt by the ABL Agent of written notice from the Term Agent of the acceleration of the Term Obligations and the intent of the Term Agent to commence the Exercise of Secured Creditor Remedies, and, in each case, ending 120 days thereafter. Notwithstanding the foregoing, the Use Period for any particular store liquidation shall terminate, as to such location, upon completion of the liquidation and sale of the ABL Priority Collateral at such location. If any stay or other order that prohibits any of the ABL Agent, the other ABL Credit Parties or any ABL Loan Party (with the consent of the ABL Agent) from commencing and continuing the Exercise of Any Secured Creditor Remedies or to liquidate and sell the ABL Priority Collateral has been entered by a court of competent jurisdiction, such 120-day period shall be tolled during the pendency of any such stay or other order and the Use Period shall be so extended.
Use Period means the ninety (90) day period beginning on the earlier of (i) the date on which the ABL Agent provides Term Loan Agent with written notice that it intends to exercise its use and access rights with respect to the Term Loan Priority Collateral and (ii) the 5th Business Day after Term Loan Agent provides the ABL Agent with written notice that Term Collateral Agent has obtained possession or control, as applicable, of such Term Loan Priority Collateral; provided, that if any stay or other order has occurred by operation of law or has been entered by a court of competent jurisdiction that prohibits or limits any of the ABL Agent from commencing and continuing to undertake Enforcement Actions or to Dispose of the ABL Priority Collateral, such Use Period described above shall be tolled during the pendency of such stay or other order and the Use Period shall be so extended.