VEI definition
Examples of VEI in a sentence
If Borrowers desire to continue a LIBOR Advance, VEI, on behalf of all Borrowers, shall give Agent a LIBOR Request no later than 11:00 a.m. (Chicago, Illinois time) on the second Business Day prior to the requested continuation date.
Notwithstanding anything in this Agreement or the Sale Order to the contrary, (i) $723,080 (the “Disputed VEI Cure Amount”) of the Cash Purchase Price shall be placed in an escrow account held by the Debtors (the “VEI Cure Payment Escrow”).
Provided that as of both the date of the LIBOR Request and the first day of the Interest Period, no Default or Event of Default exists, VEI, on behalf of all Borrowers, may, on any Business Day, continue any LIBOR Advance into a subsequent Interest Period of the same or a different permitted duration.
Any audit required for the preparation of any audited operating statements shall be performed by VEI’s auditor, or if such auditor is unable or unwilling to perform such audit, by a firm of independent auditors selected by VEI with the consent of TBNG, PTI or MMC, as applicable, acting reasonably, and, in either case, VEI shall be responsible for all costs incurred in connection with the audit and the preparation of any statements or reports.
If VEI, on behalf of all Borrowers, shall fail to give timely notice of its election to continue any LIBOR Advance or portion thereof as provided above, or if such continuation shall not be permitted, such LIBOR Advance or portion thereof, unless such LIBOR Advance shall be repaid, shall automatically be converted into a Base Rate Advance at the end of the Interest Period then in effect with respect to such LIBOR Advance.
If required by VEI, acting reasonably, TBNG, PTI and MMC shall provide access to their respective books and records to VEI or any employees, consultants, financial or legal advisors or other representatives of VEI.
The Buyer shall not be responsible for any Cure Payments or other amounts owing or otherwise arising under the Assumed Real Property Lease arising prior to the Closing Date (including the VEI Cure Payments (as defined in Section 2.5(a) of the Seller Disclosure Schedule)) and all such amounts shall be Excluded Liabilities.
Any such Redemption shall be treated for federal income tax purposes as a sale of the Redeeming Member’s Class B Units (together with the same number of shares of Class B Stock) to VEI in exchange for shares of Class A Stock or cash, as applicable.
The Company and any eligible Subsidiary shall make an election (or continue a previously made election) pursuant to section 754 of the Code for the taxable year of the Company that includes the closing date of the initial public offering of VEI and shall not thereafter revoke such election.
A Call Election Notice may be revoked by VEI at any time; provided, that any such revocation does not prejudice the ability of the parties to consummate a Redemption on the Redemption Date.