Trigger Events Sample Clauses

Trigger Events. Each of the following events occurring as of or after the Effective Date shall constitute a “Trigger Event” for purposes of this Agreement: (i) the Company defaults with respect to (A) its reimbursement obligations under Section 3(b) or (B) any other payment obligation hereunder if such obligation remains unpaid thirty (30) days after the due date therefor and the Guarantor’s written demand therefor; (ii) any representation or warranty made by the Company in this Agreement or as an inducement to the Guarantor to enter into any Guaranty is false, incorrect, incomplete or misleading in any material respect when made and the Company has failed to cure such misrepresentation within fifteen (15) days after notice thereof from the Guarantor; (iii) the Company fails to observe or perform any other material covenant, obligation, condition or agreement contained in this Agreement and such failure continues for fifteen (15) days; (iv) the Company defaults in the observance or performance of any agreement, term or condition contained in any Guaranteed Facility that would constitute an event of default or similar event thereunder (other than an obligation to pay any amount the payment of which is guaranteed by the Guarantor pursuant to a Guaranty), up to or beyond any grace period provided in the Guaranteed Facility; provided, that if the applicable Bank waives the Company’s failure to observe or perform its obligations under a Guaranteed Facility, and if the Company wishes the Guarantor to waive the Trigger Event described in this clause (iv) based on the Bank’s waiver, then the Company shall notify the Guarantor’s Authorized Officer of the Bank’s waiver and the Guarantor’s Authorized Officer, on behalf of the Guarantor, shall promptly consider in good faith whether to waive the Trigger Event described in this clause (iv) on the basis that the Company’s default of its obligations under the Guaranteed Facility is immaterial to the Company’s performance of its obligations under this Agreement and the Guarantor’s rights under this Agreement; (v) the Company or any of its Subsidiaries defaults in the observance or performance of any other agreement, term or condition contained in any bond, debenture, note or other evidence of Indebtedness (other than any Guaranteed Facility), and the effect of such failure or default is to cause, or permit the holder or holders of such Indebtedness thereof to cause, Indebtedness in an aggregate amount for all such collective defaults of ...

Trigger Events. (a) The following events shall constitute Trigger Events hereunder; provided, however, that in the event the New York Stock Exchange closes early on any Exchange Business Day due to extraordinary circumstances (an "Early Close Exchange Business Day"), the cure periods specified in this Section 4.1(a) will be automatically extended such that on the next Exchange Business Day following the Early Close Exchange Business Day, the cure periods will continue for the amount of time lost on such Early Close Exchange Business Day due to such early close (the "Extended Cure Time") (for the avoidance of doubt, should the next Exchange Business Day following the Early Close Exchange Business Day also be an Early Close Exchange Business Day, the cure period will continue for as long as Extended Cure Time remains): (i) Any failure at any time to comply with the covenant set forth in the first sentence of Section 3.1; (ii) Any failure at any time to comply with the provisions of Section 3.2(a)(i), if such violation is not cured on the Exchange Business Day on which the Adviser becomes aware of such violation; provided, that the Adviser shall be deemed to be aware of such violation if such violation has been in existence for three Exchange Business Days; (iii) Any failure at any time to comply with Section 3.3(c); (iv) Any failure at any time to comply with Section 3.2(a)(ii) or Section 3.3 (other than Section 3.3(c)), unless cured by the end of the Exchange Business Day following the Exchange Business Day on which such violation occurred; (v) The termination of, or failure to comply with, the Expense Limitation Agreement; (vi) Any violation of Article III (other than Sections 3.2(a)(vi) and (xi)) that is not provided for in clause (i), (ii), (iii) or (iv) above unless cured by the end of the Exchange Business Day following the Exchange Business Day on which the Adviser becomes aware of such violation; provided, that the Adviser shall be deemed to be aware of such violation if such violation has been in existence for three Exchange Business Days; (vii) Any violation of Section 3.2(a)(vi) or (xi) above, unless cured by the end of the Exchange Business Day following the Exchange Business Day on which the Adviser becomes aware of such violation; (viii) The Fund shall fail to pay the Financial Warranty Fee when due as provided in Section 2.4 and such failure shall continue unremedied for a period of two Business Days after notice of such failure from the Warranty Provider; (i...

Trigger Events. The Employee shall be entitled to collect the severance benefits set forth in Section 3 of this Agreement in the event that (I) the Employee voluntarily terminates employment either for any reason within the 30-day period beginning on the date of a Change in Control, (ii) the Employee voluntarily terminates employment within 90 days of an event that both occurs during the Protected Period and constitutes Good Reason, or (iii) the Bank or the Company or their successor(s) in interest terminate the Employee's employment for any reason other than Just Cause during the Protected Period.

Trigger Events. The Employee shall be entitled to collect the severance benefits set forth in Subsection (b) hereof in lieu of any benefits under Section 10 hereof in the event that (i) a Change in Control occurs, or (ii) the Company or its successor(s) in interest terminate the Employee's employment without his written consent and for any reason other than Just Cause during the Protected Period.

Trigger Events. Upon either (a) the closing of the sale of shares of Common Stock to the public in a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended (i) in which the price to the public per share is at least $1.20 (subject to equitable adjustment for any stock dividend, stock split, stock split-up, combination of shares or the like) and (ii) resulting in at least $75,000,000.00 of net proceeds to the Corporation and in connection with such offering the Common Stock is listed for trading on the Nasdaq Stock Market’s National Market, the New York Stock Exchange or another exchange or marketplace approved by the Board, (b) immediately prior to the consummation of a transaction or series of related transactions by merger, consolidation, share exchange or otherwise of the Corporation with a publicly traded “special purpose acquisition company” or its subsidiary (collectively, a “SPAC”), immediately following the consummation of which the common stock or share capital of the SPAC or its successor entity is listed on the Nasdaq Stock Market, the New York Stock Exchange or another exchange or marketplace approved by the Board (such transaction or series of related transactions, the “SPAC Transaction”) or the date and time, or the occurrence of an event, specified by vote or written consent of the Required Holders (the time of such closing or the date and time specified or the time of the event specified in such vote or written consent is referred to herein as the “Mandatory Conversion Time”), (x) all outstanding shares of Preferred Stock shall automatically be converted into shares of Common Stock, at the then effective conversion rate and (y) such shares may not be reissued by the Corporation. For the avoidance of doubt, upon automatic conversion of all outstanding shares of Preferred Stock into shares of Common Stock immediately prior to a SPAC Transaction pursuant to clause (b) of this Subsection 5.1, all rights of the Preferred Stock under Subsection 3 with respect to preferential payments (or any other payments that may otherwise differ from distributions to Common Stock) will terminate, and no such rights shall apply with respect to the SPAC Transaction.

Trigger Events. The Employee shall be entitled to collect the severance benefits set forth in paragraph (b) of this Section 10 in the event that either (i) the Employee voluntarily terminates his employment within 60 days following an event that both occurs during the Protected Period and constitutes Good Reason, or (ii) the Company or its successor in interest terminates the Employee’s employment without the Employee’s written consent for any reason other than Cause during the Protected Period.

Trigger Events. Each share of New Preferred Stock shall be automatically converted into fully paid and non-assessable shares of Common Stock at the then-effective applicable Conversion Price in the event that (i) the New Senior Majority shall have elected to convert all shares of New Preferred Stock or (2) the Common Stock of the Corporation becomes listed for trading on a national securities exchange. Each of the conversions set forth in this Section B.10(a) is referred to as a “Special Mandatory Conversion.” All accrued but unpaid dividends on shares New Preferred Stock shall be paid, in cash or additional shares at the discretion of the Board of Directors, in connection with any Special Mandatory Conversion.

Trigger Events. The Employee shall be entitled to collect the severance benefits set forth in Section 3 of this Agreement in the event that for any reason other than Just Cause (i) the Employee voluntarily terminates employment either for any reason within the 30-day period beginning on the date of a Change in Control, (ii) the Employee voluntarily terminates employment within 90 days of an event that both occurs during the Protected Period and constitutes Good Reason, or (iii) the Bank, the Company, or their successor(s) in interest terminate the Employee's employment during the Protected Period. The Employee shall have no right to receive compensation or other benefits for any period after termination for Just Cause or if a Change in Control never occurs.

Trigger Events. The Executive shall be entitled to collect the severance benefits set forth in subsection (b) hereof in the event that either (i) the Executive voluntarily terminates employment either for any reason other than Just Cause within the 30-day period beginning on the date of a Change in Control, (ii) the Executive voluntarily terminates employment within 90 days of an event that both occurs during the Protected Period and constitutes Good Reason, or (iii) the Bank or its successor(s) in interest terminates the Executive's employment without his written consent and for any reason other than Just Cause during the Protected Period.