Prepayment Event

Prepayment Event. ‘Prepayment Event' means any sale, transfer, assignment, sublease or other disposition (including pursuant to a sale and leaseback transaction) of any property or asset of the Borrower or any Subsidiary (including any Equity Interests in Subsidiaries), other than (i) sales, transfers or dispositions referred to in clauses (a) and (b) of Section 6.05 and subleases of Stores in the ordinary course of business and (ii) sales, transfers, assignments and other dispositions, other than those made in... reliance on clause (e) of Section 6.05, resulting in aggregate cumulative Net Proceeds received after the Effective Date not exceeding $50,000,000. View More

Prepayment Event. Means any payment made without the prior written consent of the Agent and all of the Lenders of principal on any Qualified Subordinated Debt, other than (i) regularly scheduled interest payments or (ii) those payments made at the scheduled maturity date of such Qualified Subordinated Debt, whether or not such prepayments are denominated as such or as a purchase, a redemption or by any other name or characterization including any modification or acceleration, for default or otherwise, of the due... date or maturity of the Qualified Subordinate Debt. View More

Prepayment Event. Means (i) any sale of the Company to any Person or group of Persons (as the term "group" is used under the Securities Exchange Act of 1934) pursuant to which such Person or Persons acquire (x) capital stock of the Company possessing the voting power (under ordinary circumstances) to elect a majority of the Company's board of directors or more than fifty percent (50%) of the 11 Company's issued and outstanding Common Stock (whether by merger,... consolidation or the sale of the Company's capital stock or otherwise) or (y) all or substantially all of the Company's assets determined on a consolidated basis; or (ii) any sale, transfer or issuance or series of sales, transfers and/or issuances of the Company's capital stock by the Company or any holders thereof which results in any Person or group of Persons, other than the holders of the Company's Common Stock and the holders of the Notes immediately following the consummation of the transactions contemplated by the Merger Agreement, owning capital stock of the Company possessing the voting power (under ordinary circumstances) to elect a majority of the Company's board of directors or more than fifty percent (50%) of the Company's issued and outstanding Common Stock; provided that a Prepayment Event shall not be deemed to have occurred if any of the foregoing transactions occurs as a result of (i) Greg Daily being issued equity incentives by the Company or (ii) other equity investments made by Greg Daily, each as approved by the Company's Board of Directors. View More

Prepayment Event. Designates one of the events or circumstances described at Article 12.1

Prepayment Event. (i) the first bona fide underwritten public offering of common stock of Holdings or Centers pursuant to an effective registration statement filed under the 1933 Act (excluding registration statements filed on Form S-8, any similar successor form or another form used for a purpose similar to the intended use for such forms); (ii) a Change of Control of Holdings (as such term is defined in the Certificate of Designations of the Series A Cumulative Preferred Stock of Holdings); or (iii) the sale,... lease, transfer, conveyance or other disposition, in one or a series of related transactions, of all or substantially all of the assets of Holdings and its subsidiaries taken as a whole (whether by merger, asset sale, stock purchase or otherwise) View More