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Blockage Notice definition

Blockage Notice has the meaning specified in Section 12.4.
Blockage Notice has the meaning specified in each Deposit Account Control Agreement.
Blockage Notice has the meaning specified in Section 1403.

Examples of Blockage Notice in a sentence

  • No nonpayment default that existed or was continuing on the date of delivery of any Payment Blockage Notice to the Trustee shall be, or be made, the basis for a subsequent Payment Blockage Notice.

  • No Non-Payment Default that existed or was continuing on the date of delivery of any Payment Blockage Notice to the Trustee shall be, or be made, the basis for a subsequent Payment Blockage Notice.

  • If the Trustee receives any Payment Blockage Notice pursuant to clause (ii) above, no subsequent Payment Blockage Notice shall be effective for purposes of this Section unless and until at least 365 days shall have elapsed since the initial effectiveness of the immediately prior Payment Blockage Notice.

  • No nonpayment default that existed or was continuing on the date of delivery of any Payment Blockage Notice to the Trustee (unless such default was waived, cured or otherwise ceased to exist and thereafter subsequently reoccurred) shall be, or be made, the basis for a subsequent Payment Blockage Notice.

  • Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults with respect to Designated Senior Indebtedness during such period.


More Definitions of Blockage Notice

Blockage Notice a written notice from the Senior Lender to the Borrower given as provided in the Senior Credit Agreement that (a) a Non-Payment Event of Default has occurred and is continuing or (b) an Event of Default would occur if a scheduled interest or principal payment were made under the Subordinated Note in accordance with the terms thereof, which written notice identifies itself as a Blockage Notice or refers to this Subordination Agreement.
Blockage Notice shall have the meaning set forth in Section 3 hereof.
Blockage Notice has the meaning set forth in Section 2.5(c) hereof.
Blockage Notice as defined in Section 8.3.
Blockage Notice has the meaning assigned to that term in Section 8.3.
Blockage Notice means a notice of “control” (as defined in the UCC) or its applicable equivalent contemplated to be delivered pursuant to each Deposit Account Control Agreement.
Blockage Notice means a written notice from or on behalf of Senior Lender to Subordinated Agent of the existence of an Event of Default under the Senior Loan Agreement, other than a Payment Default, which notice states that it is a notice of payment blockage under this Agreement, a “blockage notice” or other words to such effect.