Liquidation Direction definition

Liquidation Direction means a notice delivered by the Controlling Class Agent to the Security Trustee following the occurrence of an Event of Default which is continuing (taking into account any related grace periods), instructing the Security Trustee to proceed to enforce the Collateral or any part of it.
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Liquidation Direction shall have the meaning assigned thereto in the Pledge and Intercreditor Agreement.
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Liquidation Direction is defined in Section 3.5(c)(iv).
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Examples of Liquidation Direction in a sentence

  • The security constituted under the Security Documents over the Collateral shall become enforceable upon an acceleration of the maturity of any of the Notes pursuant to Condition 10(b) (Acceleration and Curing Default) or, in the event that the same has not precipitated an acceleration under Condition 10(b) (Acceleration and Curing Default), upon the service of a Liquidation Direction pursuant to the Intercreditor Arrangements.


More Definitions of Liquidation Direction

Liquidation Direction. A Liquidation Direction under and as defined in the Pledge Agreement.
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Liquidation Direction. The meaning specified in Section 5.5(a).
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Liquidation Direction means any notice given under the Indenture in connection with a Liquidation Acceleration by a Majority of the Controlling Class to the Secured Parties Representative, directing the Secured Parties Representative to provide a notice to the Custodian of its receipt of such
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Related to Liquidation Direction

  • Liquidation Distribution has the meaning specified in Section 9.4(d).

  • Liquidation Trustee means the trustee appointed jointly by the Debtors and the Creditors’ Committee, and identified in the Plan Supplement, to serve as the liquidation trustee under the Liquidation Trust Agreement, or any successor appointed in accordance with the terms of the Plan and Liquidation Trust Agreement.

  • Liquidation Event With respect to any Mortgage Loan, any of the following events: (i) such Mortgage Loan is paid in full; (ii) a Final Recovery Determination is made as to such Mortgage Loan; or (iii) such Mortgage Loan is removed from REMIC I by reason of its being purchased, sold or replaced pursuant to or as contemplated by Section 2.03, Section 3.16(a) or Section 9.01. With respect to any REO Property, either of the following events: (i) a Final Recovery Determination is made as to such REO Property; or (ii) such REO Property is removed from REMIC I by reason of its being purchased pursuant to Section 9.01.

  • Liquidation Period has the meaning set forth in Section 10.6 of this Agreement.

  • Liquidation means the distributions of the Trust Account to the Public Stockholders in connection with the redemption of the Common Stock held by the Public Stockholders pursuant to the terms of the Company’s Amended and Restated Certificate of Incorporation, as amended, if the Company fails to consummate a Business Combination with the time period provided therein.

  • Liquidation Trust means the trust created pursuant to the Liquidation Trust Agreement on the Effective Date in accordance with the Plan, the Confirmation Order and the Liquidation Trust Agreement.

  • Liquidation Trust Agreement means the Liquidation Trust Agreement to be dated as of the Effective Date establishing the terms and conditions of the Liquidation Trust, substantially in the form attached hereto as Exhibit B.

  • Liquidation Agent has the meaning set forth in Section 9.03.

  • Companion Distribution Account shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.

  • Majority in Liquidation Amount of the Preferred Securities means a vote by the Holder(s), voting separately as a class, of more than fifty percent (50%) of the aggregate Liquidation Amount of all then outstanding Preferred Securities issued by the Issuer.

  • Dissolution Distribution Amount means the Trustee Call Amount, the Capital Event Redemption Amount or the Tax Event Redemption Amount, as the case may be, or such other amount in the nature of a redemption amount as may be determined in accordance with these Conditions;

  • Liquidation Fee The fee designated as such in, and payable to the Special Servicer in connection with certain events in respect of a Specially Serviced Mortgage Loan or an Administered REO Property pursuant to, Section 3.11(c).

  • Liquidation Fees shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Joint Written Direction means a written direction executed by the Investor and the Company directing Escrow Agent to disburse all or a portion of the Escrow Funds or to take or refrain from taking any action pursuant to this Agreement.

  • Liquidating Trustee has the meaning set forth in Section 6.2(a).

  • Liquidation Call Right has the meaning ascribed thereto in the Plan of Arrangement.

  • Liquidation Price means the price at which the Trustee sells the Underlying Securities.

  • Liquidation Parity Stock means any class or series of stock of the Corporation (other than the Series L Preferred Stock) that ranks equally with the Series L Preferred Stock in the distribution of assets on any liquidation, dissolution or winding up of the Corporation.

  • Liquidating Trust Agreement means an agreement evidencing the terms and provisions governing a Liquidating Trust that shall be entered into prior to the establishment of such Liquidating Trust and pursuant to which a Liquidating Trustee shall manage and administer Liquidating Trust Assets.

  • Noteholder Direction has the meaning set forth in Section 7.6(a) of the Indenture.

  • Majority in liquidation amount of the Capital Securities means Holder(s) of outstanding Capital Securities, voting together as a class, but separately from the holders of Common Securities, of more than 50% of the aggregate liquidation amount (including the stated amount that would be paid on redemption, liquidation or otherwise, plus accrued and unpaid Distributions to the date upon which the voting percentages are determined) of all Capital Securities then outstanding.

  • Certificate Distribution Account has the meaning assigned to such term in the Trust Agreement.

  • Lead Securitization Directing Certificateholder means the “Directing Certificateholder” as defined in the Lead Securitization Servicing Agreement.

  • Deemed Liquidation means a liquidation of the Company that is deemed to occur pursuant to Treas. Reg. § 1.708-1(b)(4) in the event of a termination of the Company pursuant to Section 708(b)(1)(B) of the Code.