Anticipated Default definition

Anticipated Default has the meaning set forth in the Recitals above.
Sample 1
Anticipated Default means any Event of Default arising from the Borrowers' failure after the date hereof to comply with certain Sections of the Credit Agreement as designated as an "Anticipated Default" on Schedule A hereto for the period specified on Schedule A.
Sample 1
Anticipated Default means any Event of Default arising from (a) the Borrowers' failure after the date hereof to comply with certain Sections of the Credit Agreement as designated as an "Anticipated Default" on Schedule A hereto for the period specified on Schedule A, (b) the Borrowers' failure to maintain the Consolidated Fixed Charge Coverage Ratio for the Fiscal Month ended June 30, 2004, as required by Section 7.23 of the Credit Agreement and (c) the Borrowers' failure to maintain the US Fixed Charge Coverage Ratio for the Fiscal Month ended June 30, 2004, as required by Section 7.23 of the Credit Agreement; provided, however, that in the event the Termination Date is automatically extended as provided in the definition thereof, "Anticipated Default" shall also include any Event of Default arising from the Borrowers' failure to comply with Section 7.23 of the Credit Agreement prior to the Termination Date.
Sample 1

Examples of Anticipated Default in a sentence

  • Subsequent Events: On March 25, 2011 3D Eye Solutions received a Notice of Anticipated Default and Offer to settle from its CEO on the Trademark License Agreement and Intellectual Property and Patent License Agreement.

  • It shall be a condition precedent to the effectiveness of this Agreement that (i) all amounts due and payable under the Notes as of the execution date shall have been paid, (ii) no Event of Default (other than the Anticipated Default) shall exist under the Notes, the Credit Agreement, or any other Loan Document, and (iii) the Agent shall have received such other items as they may reasonably request.

  • The following new and revised standards and interpreta- tions have been adopted, but will not take effect until a later date and have not been applied in advance to the present consolidated financial statements.

  • Burial activities, including mass burials, provided they take place in established, modern, currently operating cemeteries.

  • Lenders do not forbear or waive Borrowers' obligations under such sections for any events other than the Existing Default and Anticipated Default, and Lenders do not waive any other failure by Borrower to perform its obligations under the Transaction Documents.

  • This waiver is granted only with respect to the Anticipated Default and not with respect to any other Default or Event of Default which has previously existed, now exists, or at any time in the future shall exist, or any other breach of, or failure to comply with, the Agreement or any other Loan Document.

  • Subject to the terms and conditions set forth in this Second Amendment (including, without limitation, Article VI), the Agent, upon the consent of the Majority Lenders, hereby waives each Anticipated Default.

  • Upon termination of the Forbearance Period, Lender and Xxxxx Mechanical shall have the right to enforce any and all remedies with respect to any default, including any event of default then outstanding under the Note or Xxxxx Mechanical Note or any of the other Loan Documents (including, without limitation, any Existing Default and the Anticipated Default), as applicable.

  • The Council shall have regard to the terms of section 16 of the Act of 1994 in appointing members and, where appropriate, the proper officer to act as trustees of any property held on Trust.

  • Except as expressly provided herein, this Agreement does not constitute a waiver or release by Bank of any Obligations or of the Existing Defaults or of the Anticipated Default (if such Anticipated Default does occur) or any other present or future Event of Default whether or not known to Bank.


More Definitions of Anticipated Default

Anticipated Default means a default or breach under Section 5.8 of the Agreement that is anticipated or likely to occur (but has not yet occurred), as reflected in any certificate, information or report delivered by Borrowers to Administrative Agent under Section 5.1(c) or 5.2(m) of the Agreement, in each case with respect to any of the following defaults or breaches by any Borrower or School: (a) failure to maintain a composite score of 1.0 or more under the factors of financial responsibility set forth in 34 C.F.R. Part 668, Subpart L, or to satisfy the "zone alternative" requirements set forth at 34 C.F.R. § 668.175(d) if applicable; (b) failure to maintain the final and draft Cohort Default Rates for all Schools, except for up to one School per federal fiscal year, at less than 30% as calculated pursuant to 34 C.F.R., Part 668, Subpart N for any two consecutive federal fiscal years, and failure to maintain the final and draft Cohort Default Rates for all Schools at less than 40% as calculated pursuant to 34 C.F.R., Part 668, Subpart N for any one federal fiscal year; (c) failure to derive no more than 90 percent of its revenues from Title IV Program funds as calculated consistent with 34 C.F.R. §§ 668.14 and 668.28 or any successor regulation or regulations as measured in the first six-month period of any fiscal year that follows a fiscal year in which any School derived more than 90% of its revenues from Title IV Program funds; or (d) failure to maintain material compliance with all Educational Laws, including (i) administrative capability requirements under 34 C.F.R. § 668.16, (ii) Program Participation Agreement requirements under 34 C.F.R. § 668.14, and (iii) eligible program requirements under 34 C.F.R. § 668.8.
Sample 1
Anticipated Default shall have the meaning assigned to such term in the recitals hereto.
Sample 1
Anticipated Default means a default or breach under Section 5.8 of the Agreement that is anticipated or likely to occur (but has not yet occurred), as reflected in any certificate, information or report delivered by Borrowers to Administrative Agent under Section 5.1(c) or 5.2(m) of the Agreement, in each case with respect to any of the following defaults or breaches by any Borrower or School: (a) failure to maintain a composite score of 1.0 or more under the factors of financial responsibility set forth in 34 C.F.R. Part 668, Subpart L, or to satisfy the "zone alternative" requirements set forth at 34
Sample 1

Related to Anticipated Default

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

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

  • 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.

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

  • Funding Default as defined in Section 2.22.

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

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

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

  • 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.

  • 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.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • 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.

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

  • Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p).

  • 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.

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

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

  • 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.

  • 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)).

  • 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).

  • 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.

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

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

  • Forbearance Termination Event has the meaning set forth in Section 3(a) hereto.

  • 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.

  • Senior Payment Default means any default in the payment of principal of (or premium, if any) or interest on any Senior Debt of the Company when due, whether at the Stated Maturity of any such payment or by declaration of acceleration, call for redemption or otherwise. In the event that any Senior Nonmonetary Default (as defined below) shall have occurred and be continuing, then, upon the receipt by the Company, the Subsidiary Guarantors and the Trustee of written notice of such Senior Nonmonetary Default from the agent for the Designated Senior Debt which is the subject of such Senior Nonmonetary Default, no Securities Payment shall be made during the period (the “Payment Blockage Period”) commencing on the date of such receipt of such written notice and ending on the earlier of (i) the date on which such Senior Nonmonetary Default shall have been cured or waived or shall have ceased to exist or all Designated Senior Debt the subject of such Senior Nonmonetary Default shall have been discharged; (ii) the 179th day after the date of such receipt of such written notice; or (iii) the date on which the Payment Blockage Period shall have been terminated by written notice to the Company, any Subsidiary Guarantor or the Trustee from the agent for the Designated Senior Debt initiating the Payment Blockage Period; provided, however, that nothing in this Section shall prevent the satisfaction of any sinking fund payment in accordance with Article Sixteen by delivering and crediting pursuant to Section 1602 Securities which have been acquired (upon redemption or otherwise) prior to the date of such receipt of such written notice. No more than one Payment Blockage Period may be commenced with respect to the Securities of a particular series during any 360-day period and there shall be a period of at least 181 consecutive days in each 360-day period when no Payment Blockage Period is in effect. For all purposes of this paragraph, no Senior Nonmonetary Default that existed or was continuing on the date of commencement of any Payment Blockage Period shall be, or be made, the basis for the commencement of a subsequent Payment Blockage Period, whether or not within a period of 360 consecutive days, unless such Senior Nonmonetary Default shall have been cured for a period of not less than 90 consecutive days.