Security Release Date definition

Security Release Date is defined in Section 9.16(g).

Security Release Date means the date upon which the Borrower has delivered a notice to the Administrative Agent (which notice may not be sent prior to June 30March 31, 20212022) certifying that the following has occurred: (i) if such notice is delivered prior to JanuaryApril 1, 20222023, the Borrower shall have demonstrated compliance (in its regular quarterly and/or annual reporting delivered pursuant to Section 9.1 and/or Section 9.2 hereof) with the Financial Covenants (without giving effect to the modifications imposed during the Ratio Adjustment Period) for two consecutive fiscal quarters following the end of the Covenant Relief Period, (ii) no Default or Event of Default shall have occurred and be continuing and (iii) the Liens securing the Existing Term Loan have been released or shall be released substantially simultaneously with the release of all Liens securing the Obligations.

Security Release Date means the date on which:

Examples of Security Release Date in a sentence

• At the same time, Cape Verde’s sound economic management, its swift and measured response to the crisis and its implementation of the public investment program in line with the available concessional financing, augur well in the event that down-side risks presented by the Euro Zone crisis materialize in a significant way.

• The Uniform Simultaneous Death Act, enacted in almost all states, provides: “Where there is no sufficient evidence that two joint tenants or tenants by the entirety have died otherwise than simultaneously the property so held shall be distributed one-half as if one had survived and one-half as if the other had survived.

• If, after the Security Trigger Date but prior to the Security Release Date, any Property which is to become an Unencumbered Property is owned directly or indirectly by a Subsidiary whose Equity Interests are required to be subject to the Pledge Agreement, the Borrower shall deliver to the Administrative Agent a supplement to the Pledge Agreement together with the other items required by Section 8.14.

• Priority and Security; Release Date Until the release date (as defined below), all of the senior secured debt securities outstanding under the senior secured indenture will be secured by one or more series of our first mortgage bonds, which we refer to as the "senior note mortgage bonds," issued under the mortgage indenture described under "Description of First Mortgage Bonds and Mortgage Indenture" and delivered by us to the senior secured trustee.

• For the avoidance of doubt, it is hereby acknowledged and agreed that each of the Bridge Facility Termination Date and the Security Release Date occurred on April 23, 2020.

More Definitions of Security Release Date

Security Release Date means the date which is at least two years following the date on which the Company receives from Employee a completed notice in the form attached hereto as Exhibit C, provided that Employee continues to be employed by Employer until such date. Employee's election of a Security Release Date shall be irrevocable.

Security Release Date means, notwithstanding the prior occurrence of any Security Release Date earlier than April 12, 2000, the earlier to occur of (i) completion of the Subordinated Debt Transaction and (ii) delivery by the Borrower of a certificate, signed by a Responsible Officer, to the effect that during two consecutive fiscal quarters the Debt/EBITDA Ratio has been below 2.50, provided, however, that in no event shall the Security Release Date occur prior to March 1, 2001."

Security Release Date means the earlier to occur of (i) completion of the Subordinated Debt Transaction and (ii) delivery by the Borrower of a certificate, signed by a Responsible Officer, to the effect that during two consecutive fiscal quarters the Debt/EBITDA Ratio has been below 2.50.

Security Release Date has the meaning given to it in Clause ‎8.8.

Security Release Date means the date upon which Hyatt, in its discretion, has delivered a notice in writing to the Administrative Agent certifying the following: (i) the Bridge Facility Termination Date has occurred, no Secured Refinancing Facility is outstanding and equal and ratable Liens securing the Credit Party Obligations are not required pursuant to Section 6.1 and (ii) no Default or Event of Default has occurred and is existing or will be existing at the time of such release. Notwithstanding the foregoing, (a) if the Bridge Facility Termination Date occurs prior to the end of the Covenant Relief Period, the Security Release Date shall not be deemed to have occurred unless (A) all loans (if any) outstanding under the Bridge Facility have been repaid in full solely with the proceeds of unsecured Indebtedness incurred by Hyatt and/or its Subsidiaries after the Second Amendment Effective Date, (B) such unsecured Indebtedness has a maturity date which is no earlier than the date which is two years following the Maturity Date and (C) the aggregate net cash proceeds received by Hyatt and its Subsidiaries from such unsecured Indebtedness is not less than $300,000,000 and (b) if the Security Release Date is deemed not to have occurred as a result of the foregoing clause (a) then, if the conditions in clause (i) and (ii) are satisfied at such time, the Security Release Date shall be deemed to have occurred after the end of the Covenant Relief Period on the date that the Credit Parties have demonstrated compliance with the Financial Covenants in the compliance certificate delivered for the immediately prior fiscal quarter pursuant to Section 5.2(a).

Security Release Date means the date upon which Hyatt, in its discretion, has delivered a notice in writing to the Administrative Agent certifying the following: (i) the Bridge Facility Termination Date has occurred, no Secured Refinancing Facility is outstanding and equal and ratable Liens securing the Credit Party Obligations are not required pursuant to Section 6.1 and (ii) no Default or Event of Default has occurred and is existing or will be existing at the time of such release. Notwithstanding the foregoing, (a) if the Bridge Facility Termination Date occurs prior to the end of the Covenant Relief Period, the Security Release Date shall not be deemed to have occurred unless (A) all loans (if any) outstanding under the Bridge Facility have been repaid in full solely with the proceeds of unsecured Indebtedness incurred by Hyatt and/or its Subsidiaries after the Second Amendment Effective Date,

Security Release Date shall have the meaning provided in Section 13.17(a).