HLT Classification definition

HLT Classification shall have the meaning set forth in Section 2.11 hereof.
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HLT Classification means, in the context of there having been an HLT Classification, that either (i) the Agent has received notice from any governmental or quasi-governmental authority, central bank or comparable agency having jurisdiction over the Agent or any Lender that the Advances or the Commitments hereunder are classifiable as being part of a "highly leveraged transaction" or (ii) the Agent has otherwise determined that compliance with any law or any governmental or quasi-governmental rule, regulation, order, policy, guideline or directive (whether or not having the force of law) requires that the Advances or Commitments hereunder be classified as part of a "highly leveraged transaction". The effective date of an "HLT Classification" for all purposes of this Agreement shall be the date of receipt by the Agent of the notice referred to in clause (i) or the date of the determination by the Agent referred to in clause (ii), as the case may be, provided that in either case the Lender acting as Agent hereunder does in fact promptly classify either its respective Loans or its respective Commitment hereunder as being part of a "highly leveraged transaction" to the extent required by the source of such required classification.
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HLT Classification means, in the context of there having been an HLT Classification, that either (i) the Agent has received notice from any governmental or quasi-governmental authority, central bank or comparable agency having jurisdiction over the Agent or any Lender that the Advances or the Commitments hereunder are classifiable as being part of a "highly leveraged transaction" or (ii) the Agent has otherwise determined that compliance with any law or any governmental or quasi-governmental rule, regulation, order, policy, guideline or directive (whether or not having the force of law) requires that the Advances or Commitments hereunder be classified as part of a "highly leveraged
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Examples of HLT Classification in a sentence

  • The Agent, the Banks and the Borrower shall thereupon commence negotiations in good faith to agree on the extent to which fees, interest rates and/or margins hereunder should be increased so as to reflect such HLT Classification.

  • The Agent and the Banks acknowledge that an HLT Classification is not a Default or an Event of Default.

  • The Lenders acknowledge that an HLT Classification is not an Event of Default or Potential Default hereunder.

  • The Banks acknowledge that an HLT Classification is not a Default or an Event of Default hereunder.

  • If, after the date hereof, the Agent determines that, or the Agent is advised by any Bank that such Bank has received notice from any governmental authority, central bank or comparable agency having jurisdiction over such Bank that, Loans hereunder are classified as a "highly leveraged transaction" (an "HLT Classification"), the Agent shall promptly give notice of such HLT Classification to the Company and the other Banks.

  • This requirement also applies to any member of the Firm who, although still employed by the Firm, no longer represents Citizens and therefore does not require ELMS user access.

  • The Banks acknowledge that a HLT Classification is not a Default or an Event of Default hereunder.

  • The Agent, the Banks and the Borrower shall commence negotiations in good faith to agree on the extent to which fees, interest rates and/or margins hereunder should be increased so as to reflect market incremental pricing for extensions of credit subject to HLT Classification.

  • The Agent, the Banks and the Borrowers shall thereupon commence negotiations in good faith to agree on the extent to which fees, interest rates and/or margins hereunder should be increased so as to reflect such HLT Classification.

  • In the event that after the date hereof the Loans hereunder are classified as a "highly leveraged transaction" (an "HLT Classification") by any Governmental Authority having jurisdiction over any Lender, such Lender may in its discretion from time to time so notify the Agent, and upon receiving such notice the Agent shall promptly give notice of such event to the Borrower and the Lenders.


More Definitions of HLT Classification

HLT Classification has the meaning specified in Section 2.15(b).
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HLT Classification has the meaning set forth in Section 7.06.
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Related to HLT Classification

  • Job Classification means an arrangement of tasks in an establishment or industry into a limited series of jobs or occupations, rated in terms of skill, responsibility, experience, training, and similar considerations, usually for wage setting purposes. This term, or job class, refers to a single cluster of jobs of approximately equal “worth.”

  • film classification body means the person or persons designated as the authority under section 4 of the Video Recordings Act 1984 (c.39) (authority to determine suitability of video works for classification).

  • Classification means the identification of a position by reference to a class title and pay range number.

  • Classifications means the classifications contained in Schedule 1 to this Agreement.

  • International Classification means the classification according to the Locarno Agreement of October 8, 1968, establishing an International Classification for Industrial Designs;