Ambac Event of Default definition

Ambac Event of Default means (i) an Event of Default under Section 601(c) hereof or (ii) the occurrence of any liquidation or wind-up proceedings initiated by the Company (including, for the avoidance of doubt, any liquidation or wind-up proceedings initiated pursuant to the Company’s constituting documents), other than pursuant to a transaction permitted by Article V.
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Ambac Event of Default as defined in the Indenture.
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Ambac Event of Default means any of the events set out in Condition 12 (Ambac Events of Default).
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Examples of Ambac Event of Default in a sentence

  • In administering the District’s payroll deduction system, the District will not make any additional expenditure of public funds or resources in order to collect or transmit contributions for The Fund for Children and Public Education or any local political action committee above and beyond the expenditures made to collect and transmit the dues for the Association.

  • If an Ambac Event of Default occurs and is continuing, the Trustee and the Note Collateral Agent may, but are not obligated under this Section 603 to, pursue any available remedy to collect the payment of principal of, or premium, if any, or interest on the Notes or to enforce the performance of any provision of the Notes, this Indenture or the Note Security Documents.

  • The Holders of 662/3% in principal amount of the Outstanding Notes (which contain such Ambac Event of Default which has been accelerated) by notice to the Company and the Trustee may rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Ambac Events of Default have been cured or waived except non-payment of principal or interest that has become due solely because of such acceleration.

  • If an Ambac Event of Default (as defined in the Indenture) with respect to the Notes shall occur and be continuing, the principal of and accrued but unpaid interest on the Notes may be declared due and payable in the manner and with the effect provided in the Indenture.

  • If an Ambac Event of Default occurs and is continuing, the Trustee by written notice to the Company, or the Holders of at least 15.0% in principal amount of the Outstanding Notes (which contain such Ambac Event of Default) by written notice to the Company and the Trustee, in either case specifying in such notice the respective Ambac Event of Default and that such notice is a “notice of acceleration” may declare the principal of and accrued but unpaid interest on all the Notes to be due and payable.

  • Notwithstanding anything to the contrary in this Indenture or any Note Document, no provision hereof or thereof shall prevent a holder of Notes or a beneficial interest therein from separately pursuing a claim arising out of or relating to any Event of Default hereunder (including for breach of contract or specific performance), regardless of whether an Ambac Event of Default has occurred and is then continuing.

  • Every right and remedy given by this Article VI or by law to the Trustee, the Note Collateral Agent or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee, the Note Collateral Agent or by the Holders, as the case may be, but in each case only after the occurrence and continuance of an Ambac Event of Default.

  • Give notice in writing to the Trustee, with a copy to the Issuer and NEDL, forthwith upon becoming aware of the occurrence of any Ambac Event of Default.

  • The Trustee shall direct Ambac to pay all sums payable under the Financial Guarantee to the Principal Paying Agent; provided that at any time after the occurrence of an Issuer Event of Default, a Potential Issuer Event of Default or an Ambac Event of Default or in the event that the Trustee considers that it would be inappropriate for such sums to be paid to the Principal Paying Agent, the Trustee may require Ambac to make payments to the Trustee or as it may otherwise direct.

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More Definitions of Ambac Event of Default

Ambac Event of Default means any of the following events:
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Ambac Event of Default means any of the events set out in Condition 13.
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Related to Ambac Event of Default

  • 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).

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

  • 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.

  • Issuer Event of Default means the occurrence of any of the following events:

  • Senior Event of Default means an Event of Default under the Senior Loan Documents.

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

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

  • 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 has the meaning specified in Section 8.01.

  • Specified Event of Default means an Event of Default under Section 7.01(a), (b), (h) or (i).

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

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

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

  • Potential Issuer Event of Default means any condition, event or act which, with the lapse of time and/or the issue, making or giving of any notice, certification, declaration, demand, determination and/or request and/or the taking of any similar action and/or the fulfilment of any similar condition, would constitute an Issuer Event of Default;

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

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

  • 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:

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

  • Servicer Event of Default One or more of the events described in Section 7.01.

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

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

  • Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.

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