ACTION EVENT definition
ACTION EVENT means (a) any acceleration or other exercise of rights or remedies by Mortgagee as assignee of Lessor as a result of a Cross Default under Section 15.1.7(a) of the Lease, or (b) the giving of instructions or directions by the Controlling Certificateholders to exercise any such rights or remedies.
Examples of ACTION EVENT in a sentence
As used herein, an "ACTION EVENT" means (x) any acceleration or other exercise of rights or remedies by the Class A Trustee, Subordination Agent or Mortgagee as a result of the Cross Default or (y) the giving of instructions or directions by holders of Fractional Undivided Interests aggregating a majority-in-interest in the Class A Trust to the Class A Trustee to exercise any such rights or remedies.
IN NO EVENT VADE SHALL BE LIABLE FOR ANY ACTION, EVENT ARISING OUT THE PURCHASE AGREEMENT BETWEEN CUSTOMER AND PARTNER.