Default Under Term Loan Documents Clause Samples
The "Default Under Term Loan Documents" clause defines what constitutes a default or breach of obligations under the agreements governing a term loan. Typically, this clause outlines specific events—such as missed payments, failure to meet financial covenants, or insolvency—that trigger a default. When such a default occurs, the lender may have the right to accelerate repayment, impose penalties, or take other remedial actions. The core function of this clause is to protect the lender by clearly specifying the circumstances under which they can enforce their rights if the borrower fails to comply with the loan terms.
Default Under Term Loan Documents. Any event of default (after giving effect to any applicable grace or cure periods) shall occur under any Term Loan Document; provided, that immediately upon a cure or waiver of the event of default described in this clause (l) with respect to any Term Loan Document, such default hereunder shall be immediately and automatically cured without any further action by any Person; or
Default Under Term Loan Documents. If there is (i) any breach or default of a Loan Party or any of its Subsidiaries occurs under any of the Term Loan Documents (or any documents relating to renewals, refinancings and extensions of the Indebtedness incurred thereunder) or any Secured Hedging Agreement or (ii) any such Indebtedness shall become or be declared to be due and payable, or be required to be prepaid or repurchased (other than by a regularly scheduled or required prepayment), prior to the stated maturity thereof; provided that such breach or default shall be deemed continuing hereunder until the Agent or the Required Lenders have expressly waived such breach or default in writing, notwithstanding the fact that such breach or default may have been waived under the terms of the Term Loan Documents or any Secured Hedging Agreement;
Default Under Term Loan Documents if the Borrower is in default under any term or provision of the Term Loan Documents and as a result of such default the Term Lenders (or the Term Agent) shall have accelerated or shall have the right to accelerate the repayment of any of the Term Indebtedness;