Bank Event definition
Examples of Bank Event in a sentence
A failure to deliver a notice pursuant to this Section 10.4(h) shall not give rise to a Bank Event of Default.
Where the limitation on recourse arises by reason of the existence of a Relevant Bank Event at the time of any termination of the leasing of the Ship pursuant to clause 3.3, the Lessee acknowledges and agrees that the Lessor shall be entitled to make a demand and/or, as the case may be, exercise all its rights under any Letter of Credit or Additional Security Document provided by that Relevant Bank.
Bank shall provide Company with notice specifying the nature of any Bank Event of Default, or any event which, with the giving of notice or passage of time or both, would constitute a Bank Event of Default, or any development or other information which is likely to have a Bank Material Adverse Effect.
In the event of a termination of this Agreement as a result of a Bank Event of Default of a type described in Section 13.2(c) or (d), the Company Interim Servicing Period shall extend until and end upon Conversion, even if such Conversion occurs after the end of the [*] period referred to above, but in such event, Bank shall agree, at Company’s request, to terminate charging privileges on the Accounts following the Termination Date.
The Bank shall provide the Company with a written notice specifying the nature of any Bank Event of Default, or any event which, with the giving of notice or passage of time or both, would constitute a Bank Event of Default, or any development or other information which is likely to have a Bank Material Adverse Effect.
If at the time of such delivery the Banks' Agent determines that, pursuant to the terms of the Loan Documents, it is not entitled to retain possession of such other Bank Collateral (including during the existence of a Bank Event of Default), the Banks' Agent shall promptly deliver such other Bank Collateral to the Borrower.
Bank shall provide such transition support to Kohl’s at its then-current rates; provided however, that Bank shall waive any amounts due and owing by Kohl’s for such transition services if Kohl’s terminates this Agreement upon the occurrence of a Bank Event of Default or any other Event of Default where Bank is the defaulting party, unless otherwise determined by a court of competent jurisdiction after the resolution of all appeals.
For the avoidance of doubt, any breach of the provisions of this Agreement by a service provider to a Party shall constitute a breach by such Party as if it had performed the outsourced services itself, and be subject to all provisions of this Agreement applicable to such breach, including the notice and cure provisions set forth in Sections 13.1 (EFS Event of Default), 13.2 (Bank Event of Default) and 14.2(a) (Mutual Termination Rights).
In addition to any other rights or remedies available to the parties at law or in equity, upon the occurrence of a Company Event of Default or Bank Event of Default, the non-defaulting party shall be entitled, in addition to its termination rights under ARTICLE XIV, to collect any amount in default plus interest at a rate equal to LIBOR, or such lesser amount permitted under Applicable Law.
Bank shall provide Company with notice of each of the following events promptly upon occurrence thereof: (i) a Risk Event with respect to Bank, (ii) a Bank Event of Default or an event that would constitute a Bank Event of Default following the passage of time or giving of notice or both.