Designated Interest definition

Designated Interest. The aggregate sum of $10,000,000.00, representing the portion of the interest of Tranche A Term Loan that would otherwise have accrued and become payable with respect to the Tranche A Term Loan during the first year of this Agreement but which will instead be prepaid on the Effective Date.
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Designated Interest means: (i) as to the West Hastings Unit, a working interest of 89.33682% and a net revenue interest of 78.94105%; (ii) as to the East Hastings Field, a working interest of 100% and a net revenue interest of 87.5%; (iii) as to a Lease in the West Hastings Unit, the working interest and net revenue interest set forth for such Lease in Exhibit “C”; (iv) as to a Lease in the East Hastings Field, the working interest and net revenue interest set forth for such Lease in Exhibit “C”; as to a well in the West Hastings Unit, the working interest and net revenue interest set forth for such well in Exhibit “B-1”; as to a well in the East Hastings Field, the working interest and net revenue interest set forth for such well in Exhibit “B-2”; and, as to any other Asset, the ownership interest of Optionor in such Asset to be conveyed to Optionee, less and except the Optionor’s reserved overriding royalty interest as set forth in Section 1.27(a). If following the Agreement Effective Time and prior to the Option Exercise Date Optionor acquires additional interests in the Hastings Field, the Designated Interests shall be adjusted to reflect such acquisitions(s). The Designated Interests for all of the above Assets are referred to collectively as the “Designated Interests.”
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Designated Interest has the meaning set forth in the recitals.
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Examples of Designated Interest in a sentence

  • Any reference herein to the satisfaction, repayment, or payment in full of the Secured Obligations shall mean the repayment in full of all of the Secured Obligations other than (x) contingent indemnification obligations not then due and (y) obligations and liabilities under Designated Interest Rate Protection Agreements, Designated Hedge Agreements and Designated Treasury Services Agreements.

  • Each Guaranteed Creditor that is a counterparty to a Designated Interest Rate Protection Agreement or Designated Treasury Services Agreement, in its capacity as such, agrees to be bound by this Section 12 to the same extent as a Lender hereunder.

  • Notwithstanding the foregoing, Obligations arising under Designated Interest Rate Protection Agreements, Designated Hedge Agreements and Designated Treasury Services Agreements shall be excluded from the application described above if the Administrative Agent has not received written notice thereof, together with such supporting documentation as the Administrative Agent may request, from the applicable Guaranteed Creditor.

  • Any reference herein to the satisfaction, repayment, or payment in full of the Secured Obligations shall mean the repayment in full of all of the Secured Obligations other than (x) contingent indemnification obligations not then due and (y) obligations and liabilities under Designated Interest Rate Protection Agreements and Designated Treasury Services Agreements.

  • After the expiry of the first Designated Interest Period for that overdue amount, the rate on the overdue amount will be calculated in accordance with sub-paragraph (i) above.

  • The Borrower will not designate any Designated Interest Rate Agreement or Designated Cash Management Obligations as Secured Obligations for purposes of the Security Agreement if, immediately after giving effect to such designation, the aggregate notional principal amount of all such agreements then in effect which are Secured Obligations would exceed the lesser of the aggregate amount of the Commitments at such time in effect hereunder and the Borrowing Base in effect at such time.

  • After the expiry of the first Designated Interest Period for that overdue amount, the rate on the overdue amount will be calculated in accordance with sub-paragraph (a) above.

  • As used in this Agreement, “Termination Date” shall mean the date upon which the Total Commitment under the Credit Agreement has been terminated and all Credit Document Obligations have been paid in full, no Note under the Credit Agreement is outstanding and all Term Loans thereunder have been repaid in full (other than (x) contingent indemnification obligations and (y) obligations and liabilities under Designated Interest Rate Protection Agreements and Designated Treasury Services Agreements).

  • In the event that a Member should fail to deliver such instruments to the Majority Member, the Company shall cause its books and records to show that such Designated Interest is bound by the provisions of this Section 12.10(b) and that such Designated Interest shall be transferred only to the third party purchaser upon surrender for transfer by the holder thereof.

  • If, within 120 days after the Majority Member gives such notice, the sale of the Designated Interest by the Majority Member in accordance herewith has not been completed, the Majority Member shall return to each Member all instruments or other documentation representing the Designated Interest that such Member delivered for sale pursuant hereto.


More Definitions of Designated Interest

Designated Interest. Rate." 8% per annum.
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Designated Interest means an allotment interest which has been designated to a defined individual through a valid will or other conveyance.
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Related to Designated Interest

  • related interest means (1) a company (other than an insured bank or a foreign bank) that is controlled by an executive officer, director, or principal shareholder or (2) a political or campaign committee that is controlled by or the funds or services of which will benefit an executive officer, director, or principal shareholder. See Section 215.11(a)(2) of

  • Accreted Interest Interest accrued on a Loan that is added to the principal amount of such Loan instead of being paid as it accrues.

  • Allocated interests means the following interests allocated to each unit:

  • registered interest means an international interest, a registrable non-consensual right or interest or a national interest specified in a notice of a national interest registered pursuant to Chapter V;

  • Vested Interest means a Participant’s nonforfeitable interest in his or her Account, determined in accordance with Article V.