Covenant Breach definition

Covenant Breach means, with respect to the Securities, a default in the performance, or breach, of any covenant or warranty of the Company in the Indenture (other than a covenant or warranty a default in whose performance or whose breach is specifically dealt with in this Section or which has expressly been included solely for the benefit of Securities of one or more other series), and continuance of such default or breach for a period of 60 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of the Securities of that series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder. A Covenant Breach and the events referred to in Sections 503(1) and (2) are herein referred to as “Defaults.”;

Covenant Breach shall have the meaning ascribed to such term in the Partnership Agreement.

Covenant Breach has the meaning given to such term in Section 11.1(c).

Examples of Covenant Breach in a sentence

• If the Employee’s employment with the Company or its subsidiaries is terminated for Cause or for a reason other than one of the reasons described in Section 5(b) or if the Employee engages in a Covenant Breach (as defined below), all or any portion of the vested Class B Units owned by him, his estate or any of his permitted transferees, whether now owned or subsequently acquired, shall expire and will be immediately forfeited and canceled in their entirety without any consideration to the Employee.

• From and after the occurrence of a CCA Covenant Breach hereunder, but only for so long as such CCA Covenant Breach shall be continuing, the Series 2014 Note and any other amounts due hereunder shall accrue interest at the Breach Rate.

• Such costs and expenses also shall include the fees and expenses of counsel for the Bank in advising the Bank as to its rights and responsibilities under this Agreement or any of the other Financing Documents and in representing the Bank in any legal proceeding relating thereto upon a CCA Covenant Breach.

• No other defaults under or breaches of the Indenture or terms of the Notes will result in an Event of Default, whether after notice, the passage of time or otherwise, and therefore none of such events (even if constituting a Covenant Breach) will result in a right of acceleration of payment of the outstanding principal amount of the Notes.

• Executive acknowledges and agrees that a breach of this Agreement would constitute a “Covenant Breach” as such term is used in the Plan and therefore, in the event of a Covenant Breach, Executive’s Option and the Award Stock issued therefor (as such terms are defined in the Plan) shall be subject to repurchase by X.X. Xxxxx Holding Corporation in accordance with the terms of the Plan.

More Definitions of Covenant Breach

Covenant Breach means with respect to a Party, a breach of, nonfulfillment or failure to comply with a covenant or agreement made or to be performed pursuant to this Agreement or any other Operative Agreement by such Party or a Subsidiary thereof.

Covenant Breach means Covenant Breach as defined in Paragraph 29(e).

Covenant Breach means, with respect to the Securities of any series:

Covenant Breach has the meaning set forth in Section 12.02(b).

Covenant Breach means with respect to the Employee, any of the actions which are prohibited or the failure to take any actions that are required to be taken by the Employee, in each case as described in Sections 6 and 7, with respect to non-solicitation and confidentiality.

Covenant Breach means, with respect to the Notes:

Covenant Breach means, with respect to Securities of any series, default in the payment of any sinking fund installment or analogous obligation with respect to any of the senior debt securities of that series when due or failure to perform any other covenant or agreement (other than a covenant or warranty in respect of the Securities of such series a default in the performance or breach of which is specifically dealt with in Section 5.01) with respect to such series as set forth in the Indenture for 60 days after the date on which written notice specifying such failure, stating that such notice is a “Notice of Covenant Breach” hereunder and demanding that the Issuer remedy the same, shall have been given by registered or certified mail, return receipt requested, to the Issuer by the Trustee, or to the Issuer and the Trustee by the Holders of at least 25% in aggregate principal amount of the Outstanding Securities of all series affected thereby. For the avoidance of doubt, a Covenant Breach shall not be an Event of Default with respect to any Security, except to the extent otherwise specifically provided pursuant to Section 2.03 with respect to such Security.”