SECTION Events of Default. If any of the following events (each an "Event of Default") shall occur and be continuing:
SECTION Events of Default. Each of the following events shall constitute and is referred to as an "Event of Default" under this Refunding Agreement:
(a) a failure by the Company to make when due any payment required to be made pursuant to Section 4.2 hereof, which failure shall have resulted in an "Event of Default" under clauses (a), (b) or (e) of Section 10.1 of the Indenture;
(b) a failure by the Company to pay when due any other amount required to be paid under this Refunding Agreement or to observe and perform any covenant, condition or agreement on its part to be observed or performed, which failure shall continue for a period of ninety (90) days after written notice, specifying such failure and requesting that it be remedied, shall have been given to the Company by the Issuer or the Trustee, unless the Issuer and the Trustee shall agree in writing to an extension of such period prior to its expiration; provided, however, that the Issuer and the Trustee shall be deemed to have agreed to an extension of such period if corrective action is initiated by the Company within such period and is being diligently pursued;
(c) the expiration of a period of ninety (90) days following:
(i) the adjudication of the Company as a bankrupt by any court of competent jurisdiction;
(ii) the entry of an order approving a petition seeking reorganization or arrangement of the Company under the federal bankruptcy laws or any other applicable law or statute of the United States of America, or of any state thereof; or
(iii) the appointment of a trustee or a receiver of all or substantially all of the property of the Company, unless during such period such adjudication, order or appointment of a trustee or receiver shall be vacated or shall be stayed on appeal or otherwise or shall have otherwise ceased to continue in effect; or
(d) the filing by the Company of a voluntary petition in bankruptcy or the making of an assignment for the benefit of creditors; the consenting by the Company to the appointment of a receiver or trustee of all or any part of its property; the filing by the Company of a petition or answer seeking reorganization or arrangement under the federal bankruptcy laws, or any other applicable law or statute of the United States of America, or of any state thereof; or the filing by the Company of a petition to take advantage of any insolvency act.
SECTION Events of Default. If any of the following events shall occur and be continuing:
SECTION Events of Default. Any of the following events shall be an "Event of Default":
SECTION Events of Default. Each of the following events shall constitute an Event of Default:
SECTION Events of Default. The following events shall each constitute an ----------------- "EVENT OF DEFAULT": ----------------
(a) Borrower shall fail to pay the principal of, or, within 5 days of the date that it is due, interest on its Notes, or any other amounts payable hereunder or under any of the other Loan Documents when due, whether as scheduled, at a date fixed for prepayment, by acceleration or otherwise; or
(b) any Credit Party shall fail to observe or perform any other covenant, condition or agreement to be observed or performed by such Credit Party in any of the Loan Documents, and such Credit Party fails to cure such breach within ten (10) Days after written notice thereof unless the breach relates to a covenant contained in Section 5.04, or Article VI (other than Section 6.05 or ------------ ---------- ------------ Section 6.06) or VII, in which case no notice or grace period shall apply, or ------------ --- unless the breach relates to Section 5.06, in which case an Event of Default ------------ shall occur on the thirtieth day following the breach without any notice requirement, unless the breach shall have been cured before such date; or
(c) any representation or warranty made by any Credit Party in connection with this Agreement or any other Loan Document, or the Loans or any statement or representation made in any report, certificate, financial statement or other instrument furnished by or on behalf of such Credit Party pursuant to this Agreement or any other Loan Document, shall prove to have been false or misleading in any material respect when made or delivered or when deemed made in accordance with the terms hereof or thereof; or FIRST PRIORITY LOAN AGREEMENT -----------------------------
(d) any Credit Party shall fail to make any payment due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) on any other obligation for borrowed money in excess of $250,000 with respect to any Credit Party (other than Holdings) or in excess of $1,000,000 with respect to Holdings, and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to such indebtedness; or any other default or event under any agreement or instrument relating to any indebtedness for borrowed money in excess of $250,000 with respect to any Credit Party (other than Holdings) or in excess of $1,000,000 with respect to Holdings, or any other event, shall occur and shall continue after the applicable grace ...
SECTION Events of Default. Clause (d) of Section 8.01 of the Indenture hereby is amended and restated in its entirety to read as follows:
SECTION Events of Default. Event of Default," wherever used herein, means any one of the following events that has occurred and is continuing (whatever the reason for such Event of Default and whether it shall be occasioned by the provisions of Article XI or Article XII or 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):
SECTION Events of Default. An "Event of Default" shall have occurred if one or more of the following events shall have occurred and be continuing:
(a) the Borrower shall fail to pay when due any principal of any Loan, or the Borrower shall fail to pay when due interest on any Loan or any fees or any other amount payable to Administrative Agent, Syndication Agent or the Banks hereunder and the same shall continue for a period of five (5) days after the same becomes due;
(b) the Borrower (or in the case of Section 5.11, EOPT) shall fail to observe or perform any covenant contained in Section 5.8, Section 5.9(a) or (b), Section 5.10, Section 5.11(a), (b), (c) or (e), Section 5.12 or Section 5.13;
(c) the Borrower shall fail to observe or perform any covenant or agreement contained in this Agreement (other than those covered by clause (a), (b), (d), (e), (f), (g), (h), (j), (n) or (o) of this Section 6.1) for 30 days after written notice thereof has been given to the Borrower by the Administrative Agent, or if such default is of such a nature that it cannot with reasonable effort be completely remedied within said period of thirty (30) days such additional period of time as may be reasonably necessary to cure same, provided Borrower commences such cure within said thirty (30) day period and diligently prosecutes same, until completion, but in no event shall such extended period exceed ninety (90) days;
(d) any representation, warranty, certification or statement made by the Borrower in this Agreement or EOPT on the EOPT Guaranty or in any certificate, financial statement or other document delivered pursuant to this Agreement shall prove to have been incorrect in any material respect when made (or deemed made) and, with respect to such representations, warranties, certifications or statements not known by the Borrower or EOPT, as applicable, at the time made or deemed made to be incorrect, the defect causing such representation or warranty to be incorrect when made (or deemed made) is not removed within thirty (30) days after written notice thereof from Administrative Agent to Borrower or EOPT, as applicable;
(e) the Borrower, EOPT, any Subsidiary or any Investment Affiliate shall default in the payment when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) of any amount owing in respect of any Recourse Debt (other than the Obligations) for which the aggregate outstanding principal amount exceeds $50,000,000 and such default shall continue beyond...
SECTION Events of Default. The term “Event of Default” shall mean an Event of Default as defined in the Loan Agreement.
