Purchase upon Indenture Event of Default Sample Clauses

Purchase upon Indenture Event of Default. At any time (a) while a Lease Event of Default has occurred and is continuing during which the Loan Trustee has not declared the Lease to be in default as a consequence thereof, (b) after the Equipment Notes shall have become due and payable as provided in Article 8 hereof, (c) in the event of a bankruptcy proceeding affecting the Lessee, (i) during the 60-day period under Section 1110(a)(2)(A) of the Bankruptcy Code (or such longer period as may apply under Section 1110(b) of the Bankruptcy Code) the trustee in such proceeding or the Lessee does not agree to perform its obligations under the Lease or (ii) at any time after agreeing to perform such obligations, such trustee or the Lessee ceases to perform such obligations such that the stay period applicable under the Bankruptcy Code comes to an end; or (d) after the Loan Trustee has given to the Owner Trustee or the Owner Participant the notice regarding, or has otherwise commenced, exercise of remedies referred to in Section 8.04 (including declaration of the Lease to be in default), the Owner Participant may at any time elect to purchase all, but not less than all, Equipment Notes then outstanding in accordance with the provisions of this Section 2.10. To exercise such election the Owner Participant shall give written notice thereof to the Loan Trustee (which will promptly notify each Noteholder). Such notice to the Loan Trustee shall state that it is irrevocable and shall designate a date within 15 days of such notice as the payment date and from the date of receipt of such notice until the specified payment date the Loan Trustee shall not exercise any remedies under Section 8.04 (or if the Loan Trustee has commenced the exercise of such remedies, the Loan Trustee shall stay the exercise of such remedies) unless, in the case of an Indenture Event of Default which does not result from a Lease Event of Default or a Lease Default, the Loan Trustee or a Majority in Interest of Noteholders shall reasonably conclude that the non-exercise or stay of remedies would materially adversely affect the rights of the Loan Trustee or the Noteholders under this Indenture. Each Noteholder agrees that on such specified payment date, such Noteholder will, upon payment to the Loan Trustee for such Noteholder's account in the manner provided for in Section 2.03 hereof from the Owner Participant of an amount equal to the aggregate unpaid principal amount of all Equipment Notes then held by such Noteholder, together with accr...
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Related to Purchase upon Indenture Event of Default

  • Guarantee Event of Default; Notice (a) The Guarantee Trustee shall, within 90 days after the occurrence of a Guarantee Event of Default actually known to a Responsible Officer of the Guarantee Trustee, transmit by mail, first class postage prepaid, to the Holders of the Securities, notices of all such Guarantee Events of Default, unless such defaults have been cured before the giving of such notice; provided, that the Guarantee Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities.

  • Additional Event of Default The following will constitute an additional Event of Default with respect to Party B: "NOTE ACCELERATION NOTICE. A Note Acceleration Notice is served on Party B in relation to the Relevant Notes."

  • Servicer Events of Default (a) The following events shall each constitute a "Servicer Event of Default" hereunder:

  • Servicer Event of Default Any one of the conditions or circumstances enumerated in Section 4.07 with respect to the Servicer.

  • Event of Default Defined; Acceleration of Maturity; Waiver of Default Event of Default" with respect to Securities of any series wherever used herein, means each one of the following events which shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body):

  • Event of Default Defined Acceleration of Maturity; Waiver of Default. "Event of Default" with respect to Securities of any series wherever used herein, means each one of the following events which shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body):

  • Certain Events of Default The following Events of Default will apply to the parties as specified below, and the definition of “Event of Default” in Section 14 is deemed to be modified accordingly:

  • Additional Remedies of Trustee Upon Event of Default During the continuance of any Event of Default, so long as such Event of Default shall not have been remedied, the Trustee, in addition to the rights specified in Section 6.14, shall have the right, in its own name and as trustee of the Trust Fund, to take all actions now or hereafter existing at law, in equity or by statute to enforce its rights and remedies and to protect the interests, and enforce the rights and remedies, of the Certificateholders (including the institution and prosecution of all judicial, administrative and other proceedings and the filings of proofs of claim and debt in connection therewith). Except as otherwise expressly provided in this Agreement, no remedy provided for by this Agreement shall be exclusive of any other remedy, and each and every remedy shall be cumulative and in addition to any other remedy, and no delay or omission to exercise any right or remedy shall impair any such right or remedy or shall be deemed to be a waiver of any Event of Default.

  • Rights Upon Event of Default If an Event of Default, other than an Event of Default described in Section 5.01(iv) or (v) above, shall have occurred and be continuing the Indenture Trustee or the Required Holders may declare the principal amount of the Notes immediately due and payable at par. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article Five provided, the Required Holders may rescind such declaration if (i) the Issuer has made all payments of principal of and interest on all Notes that have become due and payable (other than by reason of acceleration of the Notes) and (ii) the Issuer has paid all amounts due and payable to the Indenture Trustee. If an Event of Default described in Section 5.01(iv) or (v) shall have occurred and be continuing, the principal amount of the Notes shall become immediately due and payable.

  • Additional Events of Default The parties hereto acknowledge, confirm and agree that the failure of Borrower or any Guarantor to comply with any of the covenants, conditions and agreements contained herein or in any other agreement, document or instrument at any time executed by Borrower or any Guarantor in connection herewith shall constitute an Event of Default under the Financing Agreements.

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