Optional Termination Right definition

Optional Termination Right. The right of Xxxxxxxxx, in its capacity as Servicer, to purchase all of the Mortgage Loans in accordance with Section 10.01.

Optional Termination Right means a Swap Counterparty’s right to optionally terminate all transactions, in whole, pursuant to the applicable Optional Termination Provision.

Optional Termination Right means a Swap Counterparty’s right to optionally

Examples of Optional Termination Right in a sentence

In the event the City exercised its Optional Termination Right, the Service Corporations would be relieved of any payment obligations to the Swap Counterparties under the Swap Agreements.
The FOTA further provided the City with the right (the "Optional Termination Right") to direct the Swap Counterparties to exercise their optional right of termination of the Swap Agreements.
The Swap Counterparties do not, however, have the independent right to grant an Optional Termination Right or waive the automatic cash trapping provision.
Under the Forbearance Agreement, the only consideration that the Swap Counterparties provided to the City was (a) an Optional Termination Right and (b) a promise to forbear from taking any action to prevent the release of funds from the General Receipts Subaccount.
As a result, providing for the Optional Termination Amounts to 20 Presumably in an effort to highlight the parties’ purported compliance with the Optional Termination Provisions, Section 3.3(c) of the Forbearance Agreement provides that “[f]or the avoidance of doubt, each party hereto acknowledges that no Service Corporation will owe an amount to any Swap Counterparty under any Swap Contract in connection with the election to exercise the Optional Termination Right other than any Unpaid Amounts.” (Mot.
As a result, the Swap Counterparty is a defaulting party and, as such, does not have the ability to exercise its Optional Termination Right.
Except as otherwise provided herein, any dispute or controversy arising out of or relating to the Optional Termination Right (Section 17(D)) of this Settlement Agreement shall be decided first by discussion among counsel for the Parties and, failing that, by confidential mediation.

More Definitions of Optional Termination Right

Optional Termination Right. The right to purchase all of the outstanding Mortgage Loans and all property acquired in respect of any related Mortgage Loan then remaining in the related Trust Estate or portion thereof pursuant to the related Impac Agreements, each as identified on Schedules 1, 2 and 3 hereto, thereby terminating the Trust Estate or causing the early retirement of a certain group of securities issued in connection with the related Transactions.

Optional Termination Right. The right of Thornburg, in its capacity as Servicer, to purchase all of the Moxxxxxx Xxans in accordance with Section 10.01.

Related to Optional Termination Right

Optional Termination The termination of the trust created hereunder in connection with the purchase of the Mortgage Loans pursuant to Section 9.01(a) hereof.
Termination Right have the respective meanings given in the PRA Contractual Stay Rules.
Optional Termination Date Any Distribution Date on or after which the Stated Principal Balance (after giving effect to distributions to be made on such Distribution Date) of the Mortgage Loans is less than 10.00% of the Cut-off Date Balance.
Termination Option means the option of either party to terminate a transaction in the event that the other party fails to perform a Firm obligation to deliver Gas in the case of Seller or to receive Gas in the case of Buyer for a designated number of days during a period as specified on the applicable Transaction Confirmation.
Additional Termination Event has the meaning specified in Section 5(b).
Termination Option Event means an event of a kind defined as such in Section 4.1, 4.2 or 4.8.
Call Option Period has the meaning given to it in Condition 6.04 (Call Option);
Termination Period means the period of time beginning with a Change in Control and ending on the earlier to occur of:
Extended Termination Date has the meaning specified in Section 2.16(c).
Initial Termination Date has the meaning set forth in Section 8.2(a).
Acceleration Right means the Participant’s right, in certain circumstances, to exercise its outstanding Option as to all or any of the Common Shares in respect of which such Option has not previously been exercised and which the Participant is entitled to exercise, including in respect of Common Shares not otherwise vested at such time;
Final Termination Date means the last date of the final year in which the Applicant is required to Maintain Viable Presence and as further identified in Section 2.3.E of this Agreement.
Post-Termination Period means the twelve (12) month period beginning on the Termination Date.
Incentive Distribution Right means a non-voting Limited Partner Interest issued to the General Partner, which Partnership Interest will confer upon the holder thereof only the rights and obligations specifically provided in this Agreement with respect to Incentive Distribution Rights (and no other rights otherwise available to or other obligations of a holder of a Partnership Interest). Notwithstanding anything in this Agreement to the contrary, the holder of an Incentive Distribution Right shall not be entitled to vote such Incentive Distribution Right on any Partnership matter except as may otherwise be required by law.
Outside Termination Date shall have the meaning set forth in Section 8.01(f).
Special Termination Notice means the Notice of Special Termination substantially in the form of Annex VII to this Agreement.
Restriction Termination Date means the first day on which the Board of Directors of the Corporation determines that it is no longer in the best interests of the Corporation to attempt to, or continue to, qualify as a REIT.
Share Termination Settled” in relation to the Transaction means that Share Termination Alternative is applicable to the Transaction.
Termination for Cause or "Cause" shall mean termination because of the Executive's personal dishonesty, willful misconduct, any breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, conviction of a felony with respect to the Bank or the Company or any material breach of this Agreement. For purposes of this Section, no act, or the failure to act, on the Executive's part shall be "willful" unless done, or omitted to be done, in bad faith and without reasonable belief that the action or omission was in the best interest of the Company or its affiliates. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or based upon the written advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by the Executive in good faith and in the best interests of the Company. Notwithstanding the foregoing, the Executive shall not be deemed to have been terminated for Cause unless and until there shall have been delivered to him a Notice of Termination which shall include a copy of a resolution duly adopted by the affirmative vote of not less than three-fourths of the members of the Board at a meeting of the Board called and held for that purpose (after reasonable notice to the Executive and an opportunity for him, together with counsel, to be heard before the Board), finding that in the good faith opinion of the Board, the Executive was guilty of conduct justifying Termination for Cause and specifying the particulars thereof in detail. The Executive shall not have the right to receive compensation or other benefits for any period after Termination for Cause.
Standstill Termination Date means the earlier of (i) the first anniversary of the Board Rights Termination Date and (ii) the later of (A) the third anniversary of this Agreement or (B) the first anniversary of the date on which both the Purchaser Designated Director has resigned from the Board and the Purchaser has permanently waived and renounced the Purchaser’s Board observation rights and Board designation rights in Section 1 and Section 2 of this Agreement.
Early Termination Notice is defined in Section 4.2 of this Agreement.
Normal Termination means termination of employment or service with the Company and Affiliates:
Post-Termination Exercise Period means the period following termination of a Participant’s Continuous Service within which an Option or SAR is exercisable, as specified in Section 4(h).
Service Termination Date means the last Day in a month upon which Service shall terminate, as set forth in a Schedule of Service and subject to any renewal thereof.