the extraordinary period Definition | Law Insider

Define the extraordinary period. means the period from the commencement date to the date of the annual general meeting held in the calendar year 2021; and. theextraordinaryperioddefinitionSearchWithintheextraordinaryperiodDefinitionsRelatedDefinitionsExtraordinaryEventExtraordinaryCorporateEventExtraordinaryLossExtraordinaryEventsExtraordinaryItemsExtraordinaryAdjustmentEventExtraordinaryLossesExtraordinaryCashDividendExtraordinaryDistributionExtraordinaryServicesExtraordinaryCommonStockEventExtraordinaryDividendExtraordinaryCircumstancesExtraordinaryGeneralMeetingReclassificationEventExtraordinaryExpenseFraudLossCoverageTerminationDateSpecialHazardCoverageTerminationDateCovenantTriggerPeriodPotentialChangeinControlPeriodBankruptcyCoverageTerminationDateCovenantTriggerEventCashDominionPeriodCauseEventChangeinControlPeriodPost-DeconsolidationPeriodRemoveAdvertisingOpenSplitViewShareCitetheextraordinaryperiod meanstheperiodfromthecommencementdatetothedateoftheannualgeneralmeetingheldinthecalendaryear2021;andSample1Sample2Basedon2documents2SaveCopyRemoveAdvertisingRelatedtotheextraordinaryperiodExtraordinaryEventmeansanyevent,circumstanceorcausewhichRoyalBankdetermineshasorwillhaveamaterialadverseeffectontheabilityofRoyalBanktoperformitsobligationsundertheNotesortohedgeitspositioninrespectofitsobligationtomakepaymentofamountsowingthereunder,includingasaresultofanyofRoyalBank’sinternalpolicies,andmorespecificallyincludesaMarketDisruptionEventinrespectofanyShareorHedgingEvent.ExtraordinaryCorporateEventmeansastotheLiquidityProvider,(i)theconsolidation,amalgamationwith,ormergerwithorintoorthetransferofallorsubstantiallyalloftheLiquidityProvider'sassetstoanotherentity,or(ii)thedissolution,foranyreason,oftheLiquidityProviderotherthaninconnectionwiththeconsolidation,amalgamationwith,ormergerwithorintoanotherentityorthetransferofallorsubstantiallyalloftheLiquidityProvider'sassets;provided,however,thatwithrespectto(i)above,anExtraordinaryCorporateEventdoesnotincludeanyofthelistedoccurrenceswhere(x)thesurvivingentity,ortransfereeofallorsubstantiallyalloftheLiquidityProvider'sassets,(a)assumesalloftheobligationsoftheLiquidityProviderunderthetermsoftheVRDPSharesPurchaseAgreementand(b)has(i)short-termdebtratingsinoneofthetwohighestratingscategoriesfromtheRequisiteNRSROsor(ii)suchothershort-termdebtratings,ifany,asmayberequiredfortheVRDPSharestosatisfytheeligibilitycriteriaunderRule2a-7underthe1940Actand(y)theLiquidityProviderhasprovidednoticeinwritingtotheCorporationconfirmingtheinformationdescribedin(x)atleastten(10)dayspriortothescheduleddateoftheapplicablelistedoccurrencein(i)above.ExtraordinaryLossAnyRealizedLossorportionthereofcausedbyorresultingfrom:ExtraordinaryEventsAnyofthefollowingconditionswithrespecttoaMortgagedProperty(or,withrespecttoaCooperativeLoan,theCooperativeApartment)orMortgageLoancausingorresultinginalosswhichcausestheliquidationofsuchMortgageLoan:ExtraordinaryItemsmeans(i)extraordinary,unusual,and/ornonrecurringitemsofgainorloss;(ii)gainsorlossesonthedispositionofabusiness;(iii)changesintaxoraccountingregulationsorlaws;or(iv)theeffectofamergeroracquisition,allofwhichmustbeidentifiedintheauditedfinancialstatements,includingfootnotes,orManagementDiscussionandAnalysissectionoftheCompany’sannualreport.ExtraordinaryAdjustmentEventmeansanyofthefollowingeventsastheyrelatetotheReferenceIn-strument:ExtraordinaryLossesAnylossincurredonaMortgageLoancausedbyorresultingfromanExtraordinaryEvent.ExtraordinaryCashDividendmeanscashdividendswithrespecttotheClassACommonStocktheaggregateamountofwhichinanyfiscalyearexceeds10%ofConsolidatedEBITDAoftheCorporationanditssubsidiariesforthefiscalyearimmediatelyprecedingthepaymentofsuchdividend.ExtraordinaryDistributionmeansanydividendorotherdistribution(effectedwhileanyofthesharesofESOPPreferredStockareoutstanding)(a)ofcash,wheretheaggregateamountofsuchcashdividendanddistributiontogetherwiththeamountofallcashdividendsanddistributionsmadeduringtheprecedingperiodof12months,whencombinedwiththeaggregateamountofallProRataRepurchases(forthispurpose,includingonlythatportionoftheaggregatepurchasepriceofsuchProRataRepurchasewhichisinexcessoftheFairMarketValueoftheCommonStockrepurchasedasdeterminedontheapplicableexpirationdate(includingallextensionsthereof)ofanytenderofferorexchangeofferwhichisaProRataRepurchase,orthedateofpurchasewithrespecttoanyotherProRataRepurchasewhichisnotatenderofferorexchangeoffermadeduringsuchperiod),exceedsTwelveandOne-Halfpercent(12.5%)oftheaggregateFairMarketValueofallsharesofCommonStockoutstandingontherecorddatefordeterminingtheshareholdersentitledtoreceivesuchExtraordinaryDistributionand(b)anysharesofcapitalstockoftheCorporation(otherthansharesofCommonStock),othersecuritiesoftheCorporation(otherthansecuritiesofthetypereferredtoinparagraphI(2)),evidenceofindebtednessoftheCorporationoranyotherpersonoranyotherproperty(includingsharesofanysubsidiaryoftheCorporation),oranycombinationthereof.TheFairMarketValueofanExtraordinaryDistributionforpurposesofparagraphI(4)shallbethesumoftheFairMarketValueofsuchExtraordinaryDistributionplustheamountofanycashdividendswhicharenotExtraordinaryDistributionsmadeduringsuchtwelve-monthperiodandnotpreviouslyincludedinthecalculationofanadjustmentpursuanttoparagraphI(4).ExtraordinaryServicesmeansandincludes,butnotbywayoflimitation,services,actionsandthingscarriedoutandallexpensesincurredbytheFiscalAgent,inrespectofortopreventdefaultunderthisFundingLoanAgreementortheProjectLoanDocuments,includinganyreasonableattorneys’oragents’feesandexpensesandotherlitigationcoststhatareentitledtoreimbursementunderthetermsoftheProjectLoanAgreement,andotheractionstakenandcarriedoutbytheFiscalAgentwhicharenotexpresslysetforthinthisFundingLoanAgreementortheProjectLoanDocuments.ExtraordinaryCommonStockEventmeans(i)theissueofadditionalsharesofCommonStockasadividendorotherdistributiononoutstandingsharesofCommonStock,(ii)asubdivisionofoutstandingsharesofCommonStockintoagreaternumberofsharesofCommonStock,or(iii)acombinationorreversestocksplitofoutstandingsharesofCommonStockintoasmallernumberofsharesoftheCommonStock.ExtraordinaryDividendmeansanycashdividendordistribution(orportionthereof)thattheCalculationAgentdetermines,initssolediscretion,isextraordinaryorspecial;andExtraordinaryCircumstancesmeansasituationinwhichanenvironmentalassessment(EA)orenvironmentalimpactstatement(EIS)isnotnormallyrequired,butduetounusualconditions,anEAorEISisappropriate.Indicatorsofunusualconditionsare:ExtraordinaryGeneralMeetingor“EGM”,theextraordinarygeneralmeetingoftheWarnerChilcottShareholders(andanyadjournmentthereof)tobeconvenedinconnectionwiththeScheme,expectedtobeconvenedassoonastheprecedingCourtMeetingshallhavebeenconcludedoradjourned(itbeingunderstoodthatiftheCourtMeetingisadjourned,theEGMshallbecorrespondinglyadjourned);ReclassificationEventmeansanyofthefollowing:(a)anyreclassificationorrecapitalizationofPubCoShares(otherthanachangeinparvalue,orfromparvaluetonoparvalue,orfromnoparvaluetoparvalue,orasaresultofasubdivisionorcombinationoranytransactionsubjecttoSection4.1(e)),(b)anymerger,consolidationorothercombinationinvolvingPubCo,or(c)anysale,conveyance,leaseorotherdisposalofallorsubstantiallyallthepropertiesandassetsofPubCotoanyotherPerson,ineachofclauses(a),(b)or(c),asaresultofwhichholdersofPubCoSharesshallbeentitledtoreceivecash,securitiesorotherpropertyfortheirPubCoShares.ExtraordinaryExpenseshallhavethemeaningsetforthinSection5.1.11(e)hereof.FraudLossCoverageTerminationDateThepointintimeatwhichtheFraudLossCoverageAmountisreducedtozero.SpecialHazardCoverageTerminationDateThepointintimeatwhichtheSpecialHazardLossCoverageAmountisreducedtozero.CovenantTriggerPeriodmeanstheperiod(a)commencingonthedatethat(i)anEventofDefaultoccursor(ii)Availabilityislessthanthegreaterof(x)10%ofAvailableCreditand(y)$50,000,000and(b)continuinguntiltherehasbeenaperiodof30consecutivedaysthereafterduringwhichatalltimes(i)noEventofDefaultexistsand(ii)Availabilityshallhavebeennotlessthanthegreaterof(x)10%ofAvailableCreditand(y)$50,000,000.PotentialChangeinControlPeriodshallcommenceupontheoccurrenceofaPotentialChangeinControlandshalllapseupontheoccurrenceofaChangeinControlor,ifearlier(a)withrespecttoaPotentialChangeinControloccurringpursuanttoSection2.13(a);immediatelyupontheabandonmentorterminationoftheapplicableagreement;(b)withrespecttoaPotentialChangeinControloccurringpursuanttoSection2.13(b),immediatelyuponapublicannouncementbytheCompanythatithasabandoneditsintentiontotakeorconsidertakingactionswhich,ifconsummated,wouldresultinaChangeinControl;or(iii)withrespecttoaPotentialChangeinControloccurringpursuanttoSection2.13(c)or(d),upontheoneyearanniversaryoftheoccurrenceofaPotentialChangeinControl(or,inthecaseofaPotentialChangeinControloccurringpursuanttoSection2.13(d),suchearlierdateasmaybedeterminedbytheBoard).Inadditiontotheforegoing,anyterminationofanExecutivebytheCompanyattherequestofathirdpartyincontemplationofaChangeinControlorPotentialChangeinControlshallbedeemedtohaveoccurredwithinaPotentialChangeinControlPeriod.BankruptcyCoverageTerminationDateThepointintimeatwhichtheBankruptcyLossCoverageAmountisreducedtozero.CovenantTriggerEventmeansthatExcessAvailabilityonanydayislessthanthegreaterof(i)$60,000,000and(ii)10%oftheMaximumCredit.Forpurposeshereof,theoccurrenceofaCovenantTriggerEventshallbedeemedtobecontinuinguntilExcessAvailabilityisequaltoorgreaterthanthegreaterof(i)$60,000,000and(ii)10%oftheMaximumCredit,ineachcase,forthirty(30)consecutivedays,inwhichcaseaCovenantTriggerEventshallnolongerbedeemedtobecontinuingforpurposesofthisAgreement.TheexpirationofanyCovenantTriggerEventinaccordancewiththisdefinitionshallnotimpairthecommencementofanysubsequentCovenantTriggerEvent.CashDominionPeriodmeans(a)eachperiodbeginningonadatewhenTotalExcessAvailabilityshallhavebeenlessthanthegreaterof(i)10%oftheLineCapand(ii)$20,000,000,ineithercaseforfiveconsecutiveBusinessDays,andendingonsuchdateasTotalExcessAvailabilityshallhavebeenatleastequaltothegreaterof(i)10%oftheLineCapand(ii)$20,000,000foraperiodof30consecutivecalendardaysor(b)upontheoccurrenceofanEventofDefault,theperiodthatsuchEventofDefaultshallbecontinuing.CauseEventmeans:(i)afinaljudgmentbyanycourtorgovernmentalbodyofcompetentjurisdictionnotstayedorvacatedwithinthirty(30)daysthattheManager,itsagentsoritsassigneeshascommittedafelonyoramaterialviolationofapplicablesecuritieslawsthathasamaterialadverseeffectonthebusinessoftheCompanyanditssubsidiaries,takenasawhole,ortheabilityoftheManagertoperformitsdutiesunderthetermsofthisAgreement;(ii)anorderforreliefinaninvoluntarybankruptcycaserelatingtotheManagerortheManagerauthorizingorfilingavoluntarybankruptcypetition;(iii)thedissolutionoftheManager,or(iv)adeterminationthattheManagerhas(A)committed;fraudagainsttheCompany,(B)misappropriatedorembezzledfundsoftheCompany,or(C)acted,orfailedtoact,inamannerconstitutingbadfaith,fraud,intentionalmisconduct,grossnegligenceorrecklessdisregardofthedutiesoftheManagerunderthisAgreement;provided,however,thatifanyoftheactionsoromissionsdescribedinthisclause(iv)arecausedbyanemployeeand/orofficeroftheManageroroneofitsAffiliatesandtheManagertakesallnecessaryactionagainstsuchPersonandcuresthedamagecausedbysuchactionsoromissionswithinthirty(30)daysofsuchdetermination,thensucheventshallnotconstituteaCauseEvent.ChangeinControlPeriodmeanstheperiodcommencingonthedatehereofandendingonthethirdanniversaryofthedatehereof;provided,however,that,commencingonthedateoneyearafterthedatehereof,andoneachannualanniversaryofsuchdate(suchdateandeachannualanniversarythereof,the“RenewalDate”),unlesspreviouslyterminated,theChangeinControlPeriodshallbeautomaticallyextendedsoastoterminatethreeyearsfromsuchRenewalDate,unless,atleast60dayspriortotheRenewalDate,theCompanyshallgivenoticetotheExecutivethattheChangeinControlPeriodshallnotbesoextended.Post-DeconsolidationPeriodmeansanyTaxPeriodbeginningaftertheDeconsolidationDate,and,inthecaseofanyStraddlePeriod,theportionofsuchStraddlePeriodbeginningthedayaftertheDeconsolidationDate.