Specified Events of Default. The occurrence of any one or more of the following events shall constitute an “Event of Default”:
(a) failure by Borrower to pay any principal or interest on the Obligations when due (including the payment of excess Advances pursuant to Section 2.7 hereof), whether at maturity or by reason of acceleration pursuant to the terms of this Agreement or by notice of intention to prepay, or by required prepayment or failure to pay any other liabilities or make any other payment, fee or charge provided for herein when due or in any Other Document;
(b) any representation or warranty made or deemed made by Borrower or any of its Subsidiaries in this Agreement, any Other Document or any related agreement or in any certificate, document or financial or other statement furnished at any time in connection herewith or therewith shall prove to have been misleading in any material respect on the date when made or deemed to have been made;
(c) issuance of a notice of Lien (other than a Permitted Encumbrance), levy, assessment, injunction or attachment securing Indebtedness in excess of $1,000,000 against a material portion of Borrower’s or any of its Subsidiaries’ property;
(d) except as otherwise provided for in subparagraphs (a) and (c), failure or neglect of Borrower or any of its Subsidiaries to perform, keep or observe any term, provision, condition, covenant herein contained, or contained in any Other Document, now or hereafter entered into between Borrower and Agent or any Lender (except for a failure or neglect of Borrower or any of its Subsidiaries to perform, keep or observe any term, provision, condition or covenant, contained in Sections 4.6, 4.7, 4.9, 6.1, 6.3, 6.4, 9.4 or 9.6 hereof) for which no cure period is applicable or which is not cured within thirty (30) days from the occurrence of such failure or neglect;
(e) any judgment or judgments are rendered or judgment liens filed against Borrower or any of its Subsidiaries for an aggregate amount in excess of $1,000,000 which within thirty (30) days of such rendering or filing is not either satisfied, stayed or discharged of record;
(f) Borrower or any of its Subsidiaries shall (i) apply for, consent to or suffer the appointment of, or the taking of possession by, a receiver, custodian, trustee, liquidator or similar fiduciary of itself or of all or a substantial part of its property, (ii) make a general assignment for the benefit of creditors, (iii) commence a voluntary case under any state or federal bankrup...
Specified Events of Default. Borrowers acknowledge that as of the date hereof they are and remain in default of the Financial Covenants for Fixed Charge Coverage Ratio, EBITDA and the Leverage Ratio as set forth in Section 6.10 and Annex G, clauses (b), (c) and (d) of the Credit Agreement and as set forth on Schedule A hereto (the "Specified Events of Default").
Specified Events of Default. An Event of Default pursuant to Section 8.01(l) or 8.01(m) that occurs solely with respect to Borrower’s Affiliates or Subsidiaries shall have no impact on the Freddie Mac Servicing Contract Rights or the Collateral, and while the Lender shall have the right to exercise its rights or remedies pursuant to this Agreement, it shall not exercise its rights under the UCC or the Freddie Mac Acknowledgment Agreement with respect to the Freddie Mac Servicing Contract Rights, the Freddie Mac Servicing Contract or the Collateral as a result of an Event of Default caused that occurs solely with respect to Borrower’s Affiliates or Subsidiaries pursuant to Section 8.01(l) or 8.01(m).
Specified Events of Default. The Credit Parties failed to comply with the Total Leverage Ratio covenant for the fiscal quarter ended September 30, 2023, as required by Section 5.9(a) of the Credit Agreement, which constitutes an Event of Default pursuant to Section 7.1(c)(i) of the Credit Agreement.
Specified Events of Default. The Loan Parties may not be able to maintain the amount of Unrestricted Cash required under Section 7.16(a) of the Credit Agreement, which would constitute a Default of Section 7.16(a) of the Credit Agreement and an Event of Default under Section 8.01(c) of the Credit Agreement.
Specified Events of Default. Each Obligor acknowledges and agrees that (a) the Specified Events of Default have occurred and continue to exist as of the Effective Date, and (b) absent the agreement of the Required Lenders to forbear from taking Enforcement Actions, the occurrence and continuance of the Specified Events of Default entitles the Administrative Agent, the Collateral Trustee and/or the Lenders to at any time take Enforcement Actions.
Specified Events of Default. The Note Parties may not be able to maintain the amount of Unrestricted Cash required under Section 4.2(p)(1) of the Note Purchase Agreement, which would constitute an Event of Default under Section 6.1(c) of the Note Purchase Agreement;
Specified Events of Default. Each of the events or circumstances set out in this clause 12.1 is an Event of Default.
(a) (non-payment) the Borrower fails to pay to the Lender any Secured Money when due;
(b) (breach of representations) a representation or statement by an Obligor in or in connection with this Agreement is not true and accurate;
(c) (breach of obligations) an Obligor fails to perform or comply with any of its obligations under this Agreement;
(d) (insolvency) an Insolvency Event occurs in relation to an Obligor;
(e) (change of control) a change occurs in the control of an Obligor without the prior written consent of the Lender;
(f) (cross default) any indebtedness of an Obligor is not paid when due or becomes due, or capable of being due, before its stated maturity;
(g) (illegality) it is or will become unlawful for an Obligor to perform or comply with its obligations under this Agreement;
(h) (material adverse effect) any other event (or series of events) occurs which, in the opinion of the Lender, may have a material adverse effect on an Obligor or on the ability or willingness of an Obligor to comply with its obligations to the Lender.
Specified Events of Default. The Event of Default under Section 8.3 of the Loan Agreement due to the Borrower’s failure to comply with the $5,000,000 cap on Indebtedness consisting of capital leases, as set forth in the definition of Permitted Indebtedness in the Loan Agreement.
Specified Events of Default. An Event of Default pursuant to Section 8.01(l) or 8.01(m) that occurs solely with respect to Borrower’s Affiliates or Subsidiaries shall have no impact on the Xxxxxxx Xxx Servicing Contract Rights or the Collateral, and while the Lender shall have the right to exercise its rights or remedies pursuant to this Agreement, it shall not exercise its rights under the UCC or the Xxxxxxx Xxx Acknowledgment Agreement with respect to the Xxxxxxx Xxx Servicing Contract Rights, the Xxxxxxx Xxx Servicing Contract or the Collateral as a result of an Event of Default caused that occurs solely with respect to Borrower’s Affiliates or Subsidiaries pursuant to Section 8.01(l) or 8.01(m).
