Absence of Defaults definition

Absence of Defaults neither the Guarantor, the Borrower or any Subsidiary is in default under its constitutive documents, and no event has occurred, which has not been remedied, cured or waived: (i) which constitutes a Default or a Potential Default; or (ii) which constitutes, or which with the passage of time, the giving of notice, a determination of materiality, the satisfaction of any condition, or any combination of the foregoing, would constitute, a default or event of default by it under any agreement (other than this Agreement) or judgment, decree or order to which it is a party or by which it or any of its properties may be bound where such default would, individually or in the aggregate, have a Material Adverse Effect;
Sample 1

Examples of Absence of Defaults in a sentence

  • The Indenture and the Securities will conform to the descriptions thereof contained in the Time of Sale Prospectus as amended or supplemented with respect to such Securities; (k) Absence of Defaults and Conflicts.

  • Absence of Defaults and ------------------------------------------------------------ Material Adverse Effect.

  • Existing Indebtedness; Absence of Defaults; etc.....................................80 6.11.

  • Absence of Defaults, Conflicts, etc..............................................7 2.12.

  • Authorization, Representations and ------------------------------------------------------------ Warranties and Absence of Defaults.

  • Absence of Defaults by Others...................................17 3.13.

  • Conditions to Advances of Proceeds of Loans After Closing Date 55 4.02.1. Representations and Warranties 55 4.02.2. Absence of Defaults and Events of Default 55 4.02.3. No Material Adverse Changes 55 4.02.4. Case Milestones 55 4.02.5. Compliance with Orders 55 Section 4.03.

  • Section 3.01 Due Organization and Good Standing of the Company 10 Section 3.02 Good Standing of Subsidiaries 10 Section 3.03 Capitalization 10 Section 3.04 Authorization of Agreements; Enforceability 11 Section 3.05 Absence of Defaults and Conflicts 12 Section 3.06 Governmental Approvals 12 Section 3.07 Authorization of the Shares 12 Section 3.08 Reports 13 Section 3.09 Financial Statements; Controls.

  • Absence of Defaults Each representation and warranty of Lessee contained herein or in any other Operative Document shall be true and correct in all material respects as though made on and as of the Delivery Date, except that any such representation or warranty which is expressly made only as of an earlier date need be true only as of such date.

  • The quorum for the Board of Directors Meetings shall be fifty percent (50%).

Related to Absence of Defaults

  • O & M Default means any default on the part of the Power Producer for a continuous period of ninety (90) days to (i) operate and/or (ii) maintain (in accordance with Prudent Utility Practices), the Project at all times.

  • Notice of Default means a written notice of the kind specified in Section 5.1(4).

  • Existing Defaults means, collectively, the Events of Default identified on Exhibit A hereto.

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • Material Default means a material breach of this Framework Agreement and/or, breach by the Supplier of any of the following Clauses: Clause 8 (Warranties and Representations), Clause 9 (Prevention of Bribery and Corruption), Clause 13 (Statutory Requirements and Standards), Clause 14 (Non-Discrimination), Clause 15 (Provision of Management Information), Clause 16 (Management Charge), Clause 17 (Records and Audit Access), Clause 22 (Data Protection), Clause 23 (Freedom of Information) and Clause 31 (Transfer & Sub-contracting);

  • Default means any event which is, or after notice or passage of time or both would be, an Event of Default.

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

  • Event of Default has the meaning specified in Section 8.01.

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • Debenture Event of Default means an "Event of Default" as defined in the Indenture.

  • Bankruptcy or Default means the total cessation of operations due to insolvency, with or without the filing of a bankruptcy petition by an airline, or cruise line, tour operator or other travel provider provided the Bankruptcy or Default occurs more than 14 days following Your Effective Date for the Trip Cancellation Benefits. There is no coverage for the Bankruptcy or Default of any person, organization, agency or firm from whom You purchased Travel Arrangements supplied by others.

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Incipient Default means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default.

  • Minor Default means any Event of Default that is not a Major Default.

  • Indenture Event of Default means an "Event of Default" as defined in the Indenture.

  • Owner Event of Default shall have the meaning set forth in Section 18.3.

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Actionable Default means (i) an Event of Default under and as defined by the Credit Facility Agreement or (ii) an event of default under the Public Indenture.

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration 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 Under the Trust Indenture With respect to any MBS, any “Event of Default” under the Trust Indenture pursuant to which such MBS was issued. Xxxxxx Xxx: Federal National Mortgage Association, a body corporate organized and existing under the laws of the United States, or its successor in interest or any successor appointed as herein provided. Unless the context requires otherwise, the term “Xxxxxx Mae” shall be deemed to refer to the Federal National Mortgage Association acting in its corporate capacity and not in its capacity as Trustee hereunder.

  • Loan Default means any event, condition or failure which, with notice or lapse of time or both, would become a Loan Event of Default.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).