Credit Agreement Default means any event or condition which, with the lapse of time or the giving of notice, or both, would constitute a Credit Agreement Event of Default.
Credit Agreement Default means the occurrence of an “Event of Default” under the Credit Agreement: (A) of which, except in the limited circumstance described below in this definition, the Administrative Agent has given Xxxxxx Xxx notice in accordance with Section 8.01(d), hereof (each such notice, a “Xxxxxx Mae Notice of Default”), (B) if such Event of Default has occurred pursuant to Section 9.1(a) or (b) of the Credit Agreement, and no more than one (1) such Event of Default has occurred during the life of any Term Loan (i.e., if such an Event of Default occurs more than once, it shall be a Credit Agreement Default immediately hereunder), the Administrative Agent shall not have received payment of an amount equal to the amount the Borrower and the other Credit Parties failed to pay (including interest thereon at the rate provided in the Credit Agreement) that gave rise to such Event of Default within thirty (30) days after the applicable Xxxxxx Xxx Notice of Default, and (C) if such Event of Default has occurred under any other subsection of Section 9.1 of the Credit Agreement, other than Sections 9.1(h), (i), (j) or (k) of the Credit Agreement (the occurrence of any of such Events of Default constituting a Credit Agreement Default immediately hereunder upon the giving of the applicable Xxxxxx Mae Notice of Default, and without such Xxxxxx Xxx Notice of Default if the Event of Default is under Section 9.1(i) or (j) of the Credit Agreement), unless (x) the Administrative Agent in good faith determines that, if the Event of Default would be susceptible of cure (if such cure was permitted beyond any cure period already provided in the Credit Agreement), (y) the cure of such Event of Default as a Credit Agreement Default hereunder shall have been commenced immediately upon the giving of the applicable Xxxxxx Mae Notice of Default and been completed with thirty (30) days of such Xxxxxx Xxx Notice of Default or, if curable in a longer period not to exceed ninety (90) days, is so cured within such ninety (90) day period and such cure has been diligently pursued since the applicable Xxxxxx Mae Notice of Default, and (z) no more than two (2) such Events of Defaults have occurred during the life of any Term Loan (i.e., if an Event of Default occurs under any one or more subsections of Section 9.1 of the Credit Agreement applicable under this clause (C) more than twice, it shall be a Credit Agreement Default immediately hereunder). Nothing herein shall be deemed to give the Borrower or any...
Credit Agreement Default means, at any time, (i) the Board’s good faith determination that the Company, absent an infusion of funds, is reasonably likely to trigger a “Default” or an “Event of Default” under the Credit Agreement (or equivalent term in any Contract described in clause (a) of the definition of “Company Loan Agreement”) or (ii) the occurrence of an “Event of Default” under the Credit Agreement (or equivalent term in any Contract described in clause (a) of the definition of “Company Loan Agreement”) that has not been cured.
Examples of Credit Agreement Default in a sentence
The failure to make such payment because such payment would result in any Credit Agreement Default shall not constitute a default hereunder.
For the avoidance of doubt, this Section 4.2 shall apply if there is a Credit Agreement Default and/or a Cash Flow Deficiency, without requiring the occurrence of both a Credit Agreement Default and a Cash Flow Deficiency.
As used in this Mortgage, all capitalized terms ----------- not otherwise defined herein shall have the meaning ascribed thereto in the Credit Agreement: Default Rate: ABR plus 3 1/2% per year.
An Existing Credit Agreement Default (each Existing Credit Agreement Default being hereby incorporated herein by reference) shall occur and remains uncured beyond any applicable grace period.
If Xxxxxxx receives any payment in respect of the Xxxxxxx Note from Universal after Xxxxxxx’x receipt of a Credit Agreement Default Notice from KeyBank or Universal, Xxxxxxx will hold the amount so received in trust for KeyBank and will forthwith turn over such payment to KeyBank in the form received (except for the endorsement of Xxxxxxx where necessary) for application to the KeyBank Obligations (whether or not due), in such order of application as KeyBank may deem appropriate.
More Definitions of Credit Agreement Default
Credit Agreement Default has the meaning specified in Section 8.01(b) and Section 8.02(b), respectively and as applicable.
Credit Agreement Default means a "Default" as such term is defined in the Credit Agreement.
Credit Agreement Default means a “Default” as such term is defined in each of the Credit Agreements (as in effect from time to time).
Credit Agreement Default means an Event of Default under, and as defined in, the Credit Agreement, without giving effect to any amendment or waiver to the Credit Agreement that is not agreed to by the Lender (as defined in the Credit Agreement).
Credit Agreement Default means an event of default (after the expiration of all applicable cure periods therein) under the Credit Agreement.
Credit Agreement Default means any of the events specified as “Events of Default” under the Credit Agreement, whether or not any requirement for the giving of notice, the lapse of time, or both, or any other condition, has been satisfied.
Credit Agreement Default means an "Event of Default", as such term is defined and used in the Credit Agreement, arising as a direct result of Performance Guarantor's failure to maintain a "Consolidated Interest Coverage Ratio", a "Consolidated Leverage Ratio", a "Consolidated Senior Leverage Ratio" or other financial ratio (in each case as specified in the Credit Agreement from time to time) in accordance with the then-applicable requirements of the Credit Agreement, but only for as long as the Credit Agreement continues to require the maintenance of any such ratio, PROVIDED, HOWEVER, that any such Credit Agreement Default that may arise shall not continue hereunder beyond the time of any waiver or amendment by the lenders under the Credit Agreement in accordance with the terms thereof, the effect of which is to waive (including a temporary waiver or forebearance) or cause such Credit Agreement Default to cease to exist thereunder.