Potential Event of Default. Subject to Section 2(a)(iii) of the Agreement, if an Event of Default or Potential Event of Default has occurred and is continuing, and an Early Termination Date has not been designated by the Non-defaulting Party, the Non-defaulting Party may, by written notice, specify that any or all Currency Options being settled while such Event of Default or Potential Event of Default is continuing shall be settled in accordance with Article 3, Section 3.7 of the FX Definitions and upon such notice becoming effective, the parties shall be deemed to have elected to have the specified Currency Options settle at the In-the-Money Amount unless and until the Event of Default or Potential Event of Default is no longer continuing.
Potential Event of Default. If an Event of Default or a Potential Event of Default has occurred and is continuing and an Early Termination Date has not been designated by the Non-defaulting Party, the Non-defaulting Party may, by written notice, specify that any or all Currency Option Transactions being settled while such an Event of Default or Potential Event of Default is continuing shall be settled in accordance with Section 2.2 (a) and (b) upon such notice becoming effective, the parties shall be deemed to have elected to have the specified Currency Option Transactions settled at the In-the-Money Amount unless and until the Event of Default or Potential Event of Default is no longer continuing.”
(2) The word “facsimile” shall be deleted in Section 3.5 (g) of the FX Definitions.
Potential Event of Default. A condition or event which, after notice or lapse of time or both, will constitute an Event of Default. Exhibit 10.1
Potential Event of Default. The term "Potential Event of Default" shall mean the occurrence of any event or the existence of any condition set forth in Section 7.1 hereof that with the lapse of time of any applicable grace period or the giving of notice, or both, would become an Event of Default.
Potential Event of Default. If an Event of Default or a Potential Event of Default has occurred and is continuing and an Early Termination Date has not been designated by the Non-defaulting Party, the Non-defaulting Party may, by written notice, specify that any or all Deliverable Currency Option Transactions being settled while such an Event of Default or Potential Event of Default is continuing shall be settled as Non-Deliverable Currency Option Transaction in accordance with Section 3.7(b) unless and until the Event of Default or Potential Event of Default is no longer continuing."
(e) Article 3 of the FX and Currency Option Definitions is hereby amended by the addition of the following as a new Section 3.9:
Potential Event of Default. The references to "Potential Event of Default" in Sections 2(a)(iii) and 3(b) of this Agreement shall be disregarded.
Potential Event of Default. The Borrowers and Group will promptly notify the Bank of the occurrence of an Event of Default or a Potential Event of Default, and provide the Bank with full details of any steps which it is taking, or is considering taking, in order to remedy or mitigate the effect of the Event of Default or otherwise in connection therewith but without limitation to the provisions of Section 9 hereof.
Potential Event of Default. The Bank will have received a written confirmation by the Borrowers that no Event of Default nor Potential Event of Default has occurred and is continuing.
Potential Event of Default. The Agent shall use reasonable endeavours to provide that notice before enforcing its rights in connection with that Event of Default or Potential Event of Default under any Transaction Document.
Potential Event of Default. No course of dealing between Borrower and Lender or their respective agents or employees. shall be effective to change, modify or discharge any provision of this Agreement or any of the Loan Documents or to constitute a waiver of any Event of Default or Potential Event of Default.
