Acknowledged Defaults definition

Acknowledged Defaults has the meaning set forth in the preamble to this Agreement.
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Acknowledged Defaults shall have the meaning assigned to that term in the recitals of this Agreement.
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Acknowledged Defaults shall have the meaning assigned to that term in the recitals of this Agreement. “Advance” or “Advances” shall mean one or more of the Tranche A Advances or the Tranche B Advances, or any combination thereof. “Affiliate” shall mean, with respect to any Person, any other Person which, directly or indirectly, controls, is controlled by, or is under common control with, such Person. For purposes of this definition, “control” (together with the correlative meanings of “controlled by” and “under common control with”) means the possession, directly or indirectly, of the power (a) to vote 10% or more of the securities (on a fully diluted basis) having ordinary voting power for the directors or managing general partners (or their equivalent) of such Person, or (b) to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by contract, or otherwise. “Agreement” shall have the meaning assigned to that term in the Preamble of this Agreement. “Amendment No. 1” shall mean a certain Joinder and Amendment No. 1 to the Existing Tribeca Forbearance Agreement. “Amendment No. 2” shall mean a certain Amendment No. 2 to the Existing Tribeca Forbearance Agreement. “Applicable Collections Amount” shall have the meaning assigned thereto in Section 5(d). “Applicable Margin” shall mean, with respect to each Advance listed below, the percentage set forth below opposite such Advance: Tranche A Advance 2.25 % Tranche B Advance 2.75 %
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Examples of Acknowledged Defaults in a sentence

  • By its execution hereof, the Borrower hereby certifies on behalf of itself and the other Credit Parties that each of the representations and warranties set forth in the Credit Agreement and the other Loan Documents is true and correct as of the date hereof as if fully set forth herein, and that as of the date hereof no Default or Event of Default (other than Events of Default occurring as a result of the occurrence of the Acknowledged Defaults) has occurred and is continuing.

  • Lender shall hold the Restated Note in escrow and the Restated Note shall not be effective until May 13, 2002; provided however that the parties agree that Lender shall only release the Restated Note from escrow on May 13, 2002 if (a) the conditions precedent set forth in Section 7 hereof are satisfied, and (b) no Event of Default other than the Acknowledged Defaults shall have occurred during the Forbearance Period.

  • The Lender hereby agrees to forbear from accelerating the indebtedness evidenced by the Note during the Forbearance Period and to refrain during the Forbearance Period from taking any enforcement actions against the Borrower, but only to the extent that the Defaults giving rise to such remedies relate to failure to make the principal and interest payments due on December 13, 2001 and January 13, 2001 under the Note (the "Acknowledged Defaults").

  • Except for the Acknowledged Defaults, an Event of Default exists or hereafter arises or Borrower otherwise fails to fully and timely perform any of its covenants, agreements and obligations under this Agreement.

  • Lender shall hold the Restated Note in escrow and the Restated Note shall not be effective until August 13, 2002; provided however that the parties agree that Lender shall only release the Restated Note from escrow on August 13, 2002 if (a) the conditions precedent set forth in Section 7 hereof are satisfied, and (b) no Event of Default other than the Acknowledged Defaults shall have occurred during the Forbearance Period.

  • Pursuant to the Provisional Waiver and Standstill Agreement dated as of September 13, 2000 (as amended, restated, supplemented or otherwise modified, the "Waiver Agreement"), the Borrower, the Agent and the Banks agreed to waive the Acknowledged Defaults, as set forth on Schedule 1 attached thereto, provisionally until October 26, 2000 and to defer the exercise of remedies during such period, subject to the express terms and provisions of the Waiver Agreement.

  • Lender's receipt and/or application of the Excess Cash Payments against the Indebtedness (a) shall not be deemed to reinstate the Loan nor cure the Acknowledged Defaults or any existing or future defaults or Events of Default and (b) shall not constitute a waiver of any of the rights and remedies of Lender under the Loan Documents, this Agreement, in equity or at law with respect to any existing default, Event of Default or any future default or Event of Default.

  • Lender shall hold the Restated Note in escrow and the Restated Note shall not be effective until June 13, 2002; provided however that the parties agree that Lender shall only release the Restated Note from escrow on June 13, 2002 if (a) the conditions precedent set forth in Section 7 hereof are satisfied, and (b) no Event of Default other than the Acknowledged Defaults shall have occurred during the Forbearance Period.

  • The Lender hereby agrees to forbear from accelerating the indebtedness evidenced by the Note during the Forbearance Period and to refrain during the Forbearance Period from taking any enforcement actions against the Borrower, but only to the extent that the Events of Defaults giving rise to such remedies relate to failure to make the principal and interest payments due on December 13, 2001, January 13, 2002, February 13, 2002, March 13, 2002 and April 13, 2002, under the Note (the "Acknowledged Defaults").

  • The Administrative Agent and the Required Lenders hereby waive the Acknowledged Defaults and the Acknowledged Event of Default.


More Definitions of Acknowledged Defaults

Acknowledged Defaults shall have the meaning assigned thereto in Section 2.2.
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Related to Acknowledged Defaults

  • Specified Defaults means, collectively, the Existing Defaults and the Anticipated Defaults.

  • Specified Default means a Default under Section 8.01(a), (f) or (g).

  • Existing Defaults means (i) all Existing Defaults (as that term is defined in the Forbearance Agreements) and defaults with respect to other matters stated in the Forbearance Agreements, and (ii) the 2005 Tax Default.

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

  • 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.

  • Potential Default means an event which but for the lapse of time or the giving of notice, or both, would constitute an Event of Default.

  • 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);

  • Actionable Default means the occurrence of any of the following:

  • Unmatured Default means an event which but for the lapse of time or the giving of notice, or both, would constitute a Default.

  • Forbearance Default means: (A) the failure of the Company to provide the Noteholder Group and its financial advisors with reasonable access, as determined by the Noteholder Group in its reasonable discretion, to its Chief Executive Officer, other senior executives and outside advisors, including representatives of Xxxxx Xxxxx Xxxxxx that are working with the Company, and to provide the Noteholder Group and its legal and financial advisors with any and all due diligence information they may reasonably request, including, without limitation, the Company’s current 13-week cash flow schedule, and all updates thereto as soon as reasonably practicable after they are prepared, but in no event no later than two (2) business days thereafter; (B) the failure of the Company to engage in good faith negotiations with the Noteholder Group regarding a potential restructuring transaction, which determination shall be made by the Noteholder Group in its reasonable discretion; (C) the failure of the Company to promptly notify the Noteholder Group of the occurrence of a Forbearance Default (as defined in the DDJ Third Amended Forbearance Agreement) under the DDJ Third Amended Forbearance Agreement or any amendment or modification to the DDJ Third Amended Forbearance Agreement; (D) termination of the DDJ Third Amended Forbearance Agreement; (E) the execution of any amendment or modification to the DDJ Third Amended Forbearance Agreement, which amendment or modification has a material adverse effect on the Noteholder Group as determined by the Noteholder Group in its reasonable discretion; (F) termination by the Company of the Xxxxxx Engagement Letter or the failure of the Company to pay Xxxxxx’x fees, expenses and indemnity in accordance with the terms of the Xxxxxx Engagement Letter; (G) the occurrence of any Event of Default that is not a Specified Existing Default; (H) the failure of the Company to comply with any term, condition, covenant or agreement set forth in this Third Amended Forbearance Agreement; (I) the failure of any representation or warranty made by the Company under this Third Amended Forbearance Agreement to be true and correct in all material respects as of the date when made; (J) the commencement by or against the Company or any of the Subsidiaries of a case under title 11 of the United States Code; or (K) the commencement of any action or proceeding by any creditor of the Company or any of the Subsidiaries seeking to attach or take similar action against the assets of the Company or the Subsidiaries. Any Forbearance Default shall constitute an immediate Event of Default under the Indenture.

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.

  • Additional Default means any provision contained in any document or instrument creating or evidencing Indebtedness of the Borrower or any of its Subsidiaries which permits the holder or holders of such Indebtedness to accelerate (with the passage of time or giving of notice or both) the maturity thereof or otherwise requires the Borrower or any of its Subsidiaries to purchase such Indebtedness prior to the stated maturity thereof and which either (i) is similar to any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement, but contains one or more percentages, amounts or formulas that is more restrictive or has a xxxxxxx xxxxx period than those set forth herein or is more beneficial to the holder or holders of such other Indebtedness (and such provision shall be deemed an Additional Default only to the extent that it is more restrictive or more beneficial) or (ii) is different from the subject matter of any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement.

  • Financing Default means an event which would constitute (or with notice or lapse of time or both would constitute) an event of default (which event of default has not been cured) under or would otherwise violate or breach (i) any financing arrangement of the Company or any of its Subsidiaries in effect as of the time of the aforementioned event, and any extensions, renewals, refinancings or refundings thereof in whole or in part; and (ii) any provision of the Company's or any of its Subsidiary's constitutional documents.

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

  • Reporting Default means a Default described in Section 6.01(d).

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

  • 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).

  • Bank Default means (i) the refusal (which has not been retracted) of a Bank to make available its portion of any Borrowing or to fund its portion of any unreimbursed payment under Section 2.03(c) or (ii) a Bank having notified in writing the Borrower and/or the Agent that it does not intend to comply with its obligations under Section 1.01 or Section 2, in the case of either clause (i) or (ii) as a result of any takeover of such Bank by any regulatory authority or agency.

  • Indenture Default means any condition, circumstance, act or event that, with the giving of notice, the lapse of time or both, would constitute an Indenture Event of Default.

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

  • Material Event of Default means any Event of Default arising under Section 10.01(a), 10.01(b) (solely with respect to a default related to Section 8.01, 8.20 or 9.13), 10.01(f), 10.01(i), 10.01(j), 10.01(n) or 10.01(o).

  • Monetary Default shall have the meaning assigned to such term in Section 11(a).

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

  • Preliminary Default Notice shall have the meaning ascribed thereto in Article 13 of this Agreement;

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

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