Deferral Right definition

Deferral Right shall have the meaning set forth in Section 4(b).
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Deferral Right shall have the meaning set forth in Section 8.01(c).
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Deferral Right. So long as no event of default has occurred and is continuing, BFI may elect, at its sole option, at any date other than an Interest Payment Date, to defer the interest payable on the Notes on one or more occasions for up to five consecutive years. There is no limit on the number of Deferral Periods that may occur. Such deferral will not constitute an event of default or any other breach under the Indenture and the Notes. Deferred interest will accrue, compounding on each subsequent Interest Payment Date, until paid. A Deferral Period terminates on any Interest Payment Date where BFI pays all accrued and unpaid interest on such date. No Deferral Period may extend beyond the Maturity Date. Dividend Stopper Undertaking: Unless BFI has paid all accrued and payable interest on the Notes, subject to certain exceptions, the Company will not (i) declare any dividends on the Dividend Restricted Shares or pay any interest on any Parity Indebtedness, (ii) redeem, purchase or otherwise retire Dividend Restricted Shares or Parity Indebtedness, or (iii) make any payment to holders of any of the Dividend Restricted Shares or any Parity Indebtedness in respect of dividends not declared or paid on such Dividend Restricted Shares or interest not paid on such Parity Indebtedness, respectively. CUSIP: 10000X000 ISIN: US11271L1026 Joint Book-Running Managers: J.X. Xxxxxx Securities LLC BofA Securities, Inc. RBC Capital Markets, LLC Wxxxx Fargo Securities, LLC Co-Managers Citigroup Global Markets Inc. SMBC Nikko Securities America, Inc. Barclays Capital Inc. BMO Capital Markets Corp. Deutsche Bank Securities Inc. HSBC Securities (USA) Inc. Mizuho Securities USA LLC MUFG Securities Americas Inc. Capitalized terms used and not defined herein have the meanings assigned in the BFI’s and the Company’s Preliminary Prospectus Supplement, dated October 8, 2020. * Note: A security rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time. ** We expect that delivery of the Notes will be made against payment therefor on or about the settlement date specified in this communication, which will be the fifth business day following the date of pricing of the Notes (this settlement cycle being referred to as “T+5”). Under Rule 15c6-1 of the U.S. Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days, unless the parties to any such trade expressly agree otherw...
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Examples of Deferral Right in a sentence

  • Paragraph 3.3, of Amendment 2 to the Agreement entitled Deferral Right, is hereby deleted in its entirety and is of no further affect.

  • Subject to the Deferral Right provided therein, accrued and unpaid interest on the Notes shall be payable semi-annually on June 17 and December 17 in each year (each an Interest Payment Date for purposes of this Supplemental Indenture), in equal installments, until the principal thereof is paid or duly provided for.

  • In the event the Lender elects to exercise its Deferral Right and subsequently demands payment, if the Borrower then elects to pay in Common Stock, the conversion price will be determined in the same manner as if the Deferral Right was not exercised (as described above) and the Borrower elected to pay in Common Stock, except that the Fair Market Value of the Common Stock shall be as of the date of the Lender’s written demand of payment.

  • The Issuer has to include in the Interest Deferral Right Notice the day on which any interest deferred shall be paid such day not being later than September 15, 2007.

  • If a party timely exercises its Deferral Right, the Appraisal Initiation Date shall be the date which is two (2) years after the Put Notice, with respect to the Put Right, or two (2) years after the Call Notice, with respect to the Call Right.

  • Irrespective of any day named in the Interest Deferral Right Notice any interest deferred shall be due and payable on the earliest day of (i) the first Coupon Date after which any of the events described in sentence 1(a) to (c) has occurred or (ii) the Conversation Date (§ 8(3)) or (iii) the day on which any of the termination rights according to § 11(1) has occurred.

  • The Company’s Deferral Right can only be exercised once during a 12 month period and cannot be longer than for a period of 60 days.

  • DEFINED TERM DEFINED IN SECTION Automatic Conversion 601 CDS 202 Conversion Time 601 DEFINED TERM DEFINED IN SECTION Deferred Interest 303 Deferral Period 303 Deferral Right 202 Dividend Restricted Shares 501 Maturity Date 301 Parity Notes 501 Permitted Purchase 501 SECTION 103.

  • Holder shall be responsible for any fees and expenses of its counsel or other advisers; provided, however, that the Company shall pay the incremental fees and expenses, if any, reasonably incurred by Holder (upon submission of appropriate documentation) directly caused by the Company's exercise of a Deferral Right or the closing of a Permitted Window.

  • In order to exercise the Deferral Right, Borrower must submit written notification to Lender of its intent to exercise the Deferral Right for such month within two (2) Trading Days of the applicable Measurement Date.

Related to Deferral Right

  • Compensation Deferral means the amount or amounts of the Director's Compensation deferred under the provisions of Section 3 of this Agreement.

  • Deferral Year means each calendar year during which the Director makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • Deferral Election means the Participant’s election under Section 3.1 to defer all or a portion of his or her Compensation.

  • Deferral Contribution means any contribution made to the Plan by the Employer in accordance with the provisions of Section 5.03.

  • Bonus Deferral means the amount of a Participant’s Bonus Compensation which the Participant elects to have withheld on a pre-tax basis from his Bonus Compensation and credited to his account pursuant to Section 4.1.

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Deferral Date means the date Fees would otherwise have been paid to the Participant.

  • Eligible Employee means full-time and part-time employees in the bargaining unit who have completed four hundred and fifty (450) hours of service and who are not prohibited from contributing to the Plan by legislation or the Plan rules because of their age or because they are in receipt of a pension from the Plan.

  • Deferral Agreement means an irrevocable agreement entered into between a Nonemployee Director and the Company to authorize the Company to reduce the amount of the Nonemployee Director’s Annual Retainer and credit the amount of such reduction to the Plan consistent with the requirements of Section 409A of the Code. A Deferral Agreement shall contain such provisions, consistent with the provisions of the Plan, as may be established from time to time by the Company or the Board, including without limitation:

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Section 162(m) Participant means any key Employee designated by the Administrator as a key Employee whose compensation for the fiscal year in which the key Employee is so designated or a future fiscal year may be subject to the limit on deductible compensation imposed by Section 162(m) of the Code.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Eligible employer means any municipality with a municipal

  • Plan Share Award or "Award" means a right granted to a Participant under this Plan to earn or to receive Plan Shares.

  • Eligible Director means a person who is (i) a “non-employee director” within the meaning of Rule 16b-3 under the Exchange Act, and (ii) an “outside director” within the meaning of Section 162(m) of the Code.

  • Deferral Period has the meaning set forth in Section 3(i) hereof.

  • Deferral Notice has the meaning set forth in Section 3(i) hereof.

  • 3(i) Award means an Award granted pursuant to Section 3(i) of the Ordinance to any person who is a Non- Employee.

  • Deferral means the amount or amounts of a Participant’s Compensation deferred under the provisions of Section 3.

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Deferred Compensation Award means an award of Stock Units granted to a Participant pursuant to Section 11 of the Plan.

  • Incentive-Based Compensation means any compensation that is granted, earned or vested based wholly or in part upon the attainment of a Financial Reporting Measure.

  • Nonemployee Director means a Director who is not an Employee.

  • LTIP Award means each or any, as the context requires, LTIP Award issued under any Equity Incentive Plan.

  • Employee Director means a member of the Board of Directors of the Company that is also an Employee of the Company.

  • Eligible Participant means an employee, officer, consultant or director of the Company or any Affiliate.