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 thereto in Section 2.2.
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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 February 13, 2002; provided however that Lender shall only release the Restated Note from escrow on February 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").

  • 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.

  • 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.

  • Except for the Working Capital Acknowledged Defaults and as otherwise disclosed in the Disclosure Documents, no material adverse change shall have occurred since September 30, 2005 in the condition (financial or otherwise), business, assets, operations, management or prospects of the Consolidated Parties taken as a whole.

  • 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.


More Definitions of Acknowledged Defaults

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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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, collectively, the Events of Default identified on Exhibit A hereto.

  • 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 the occurrence of any event or condition which, with the giving of notice, the passage of time, 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 (i) an Event of Default under and as defined by the Credit Facility Agreement or (ii) an event of default under the Public Indenture.

  • 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 any of: (A) the occurrence of any Default or Event of Default other than the Specified Defaults, (B) the failure of Borrower or any other Designated Company to timely and strictly comply with any term, condition, covenant, agreement or other obligation set forth in this Agreement, (C) the failure of any representation or warranty made by Borrower or any other Designated Company under or in connection with this Agreement to be true and complete in all material respects as of the date when made or any other material breach of any such representation or warranty, (D) the taking of any action by Borrower or any other Designated Company to in any way repudiate or assert a defense to any Obligation under the Credit Agreement, this Agreement or any of the other Loan Documents or the assertion of any claim or cause of action against Administrative Agent, Co-Administrative Agent or any Lender relating in any way thereto, (E) the date on which Administrative Agent, in its sole discretion or at the direction of the Required Lenders, delivers to Borrower a written notice terminating the Forbearance Period, which notice may be delivered at any time upon or after the delivery of any Proposed Vendor Payment Schedule Rejection Notice (as defined below) by the Administrative Agent in accordance with Section 3(c)(ii) hereof, or (F) Borrower fails to receive Inventory purchased with a CIA Payment (as defined below) within six (6) Business Days of the making of such CIA Payment. The occurrence of any Forbearance Default shall constitute an immediate Event of Default under the Credit Agreement and other Loan Documents. Upon the termination or expiration of the Forbearance Period, the agreement of Administrative Agent, Co-Administrative Agent and each Lender hereunder to forbear from exercising its default-related rights and remedies shall immediately terminate without the requirement of any demand, presentment, protest, or notice of any kind, all of which Borrower and each other Designated Company hereby waives. Borrower and each other Designated Company further agrees that any of Administrative Agent (upon direction of the Required Lenders to the extent provided in the Credit Agreement) and each Lender may at any time after the expiration or termination of the Forbearance Period proceed to exercise any and all of its rights and remedies under any or all of the Credit Agreement, any other Loan Document and/or applicable law, all of which rights and remedies are hereby fully reserved by Administrative Agent and each Lender. Any agreement by Administrative Agent and the Lenders to extend the Forbearance Period, if any, must be set forth in writing and signed by Administrative Agent and the Lenders. Borrower and each other Designated Company acknowledges that none of Administrative Agent or any Lender has made any assurances concerning any possibility of any extension of the Forbearance Period. Borrower and each other Designated Company acknowledges and agrees that any Loan or other financial accommodation which Administrative Agent, Co-Administrative Agent or any Lender makes to or for the benefit of Borrower or any other Designated Company on or after the Forbearance Effective Date has been made by such party in reliance upon, and is consideration for, among other things, the general releases and indemnities contained in Section 5 hereof and the other covenants, agreements, representations and warranties of Borrower and each other Designated Company hereunder.

  • 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.

  • 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, with respect to any Indenture, any Event of Default (as such term is defined in such Indenture) thereunder.

  • Landlord Default shall have the meaning given such term in Article 14.

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

  • 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:

  • 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.