Credit Facility Default definition

Credit Facility Default means an act, condition or event which with notice or passage of time or both would constitute a Credit Facility Event of Default.
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Credit Facility Default shall have the meaning specified in Section 15.11(a).
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Credit Facility Default means a Credit Facility Event of Default or any event or circumstances which would (with the expiry of a grace period, the giving of notice, the making of any determination provided for in the relevant definition of such Credit Facility Event of Default or any combination of the foregoing) be a Credit Facility Event of Default.
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Examples of Credit Facility Default in a sentence

  • Any principal payment with respect to the Revolving Credit Facility not paid when due, whether by acceleration or otherwise, shall bear interest thereafter at a rate per annum of two percent (2.0%) over the Revolving Credit Facility Applicable Rate in effect with respect to such payment at the time of such default (the "Revolving Credit Facility Default Rate").

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  • Subject to Section 9(c) and the payments to be made pursuant to Section 2(b)(2) at all times, the Company may make regularly scheduled payments of any interest on the Note(s) and payments of any Other Obligations that are due and owing, if at the time of payment, and immediately after giving effect thereto, (i) there exists no Senior Credit Facility Default and (ii) the Company is not precluded from making payments under Section 9(c).

  • Further, for so long as a Credit Facility Default shall continue following the Maximum Extension Date in respect of any Affected Notes and delivery of the Conversion Obligation in respect of such Affected Notes would, as a result, constitute a breach of the Credit Facility, the Notes shall not be subject to acceleration pursuant to this Section 7.02 unless the aggregate principal amount of Notes that has been tendered for conversion at any such time exceeds $50 million.

  • Upon waiver or cure of the Credit Facility Borrowing Base Deficiency or the Credit Facility Default, as the case may be, the Company shall immediately give notice to the Holders of such wavier or cure and shall thereafter pay dividends to the Holders in accordance with Section 3(a), including the payment of all accrued Deferred Dividends within ten days of the effectiveness of the waiver or cure of the Credit Facility Borrowing Base Deficiency or the Credit Facility Default, as the case may be.


More Definitions of Credit Facility Default

Credit Facility Default means with respect to a Credit Facility Issuer any of the following: (a) there shall occur a default in the payment of principal of or any interest on any Bond or Purchase Price
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Credit Facility Default means, (i) the receipt by Tenant or any of the borrowers or guarantors or any of their respective affiliates of a written notice of default that seeks acceleration of the payment of indebtedness (a “Notice of Default”), and (ii) Tenant or Tenant’s affiliates fail to obtain an injunction or stay regarding the acceleration within forty-five (45) days from the date of the Notice of Default under any deed of trust which secures either (1) the $100,000,000 Senior Secured Revolving Credit Agreement dated as of September 15, 2006 among California Coastal Communities, Inc., as Borrower, and Signal Landmark and Signal Landmark Holdings Inc., and certain others named therein as Guarantors, and Keybank National Association, as Lender, Swingline Lender and Agent, and Wachovia Bank, N.A., as Syndication Agent, and the other financial institutions which are or may become a lender party thereto, as amended; or (2) the $125,000,000 Senior Secured Term Loan Agreement dated as of September 15, 2006, as amended, among California Coastal Communities, Inc., as Borrower, and certain subsidiaries of the borrower from time to time party thereto, as guarantors, and Keybank National Association, as Lender and Agent, and the other financial institutions which are or may become a lender party thereto, or any credit facility(ies) replacing either or both of the above (collectively, “Credit Facilities”). Tenant shall promptly send to Landlord copies of any written notices of default sent to Tenant under any of the Credit Facilities.
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Credit Facility Default means a Default of the Company under, and as such term is defined in, the Credit Facility or any Permitted Bank Debt that has not been cured or waived in writing by the expiration of the applicable cure period; provided, however, that any such cure or waiver shall permit the Company to pay timely cash dividends as provided hereunder.
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Credit Facility Default means a Default or Event of Default under the Credit Facility, as each such term is defined in the Credit Facility.
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Credit Facility Default means with respect to a Credit Facility Issuer any of the following: (a) there shall occur a default in the payment of principal of or any interest on any Bond or Purchase Price thereof by the Credit Facility Issuer when required to be made under the terms of the Credit Facility, (b) a Credit Facility shall have been declared null and void or unenforceable in a final determination by a court of law of competent jurisdiction or (c) such Credit Facility Issuer shall commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, shall consent to the entry of an order for relief in an involuntary case under any such law or shall consent to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian or sequestrator (or other similar official) of such Credit Facility Issuer or for any substantial part of its property, or shall make a general assignment for the benefit of creditors;
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Related to Credit Facility Default

  • Credit Default Swap means any credit default swap entered into as a means to (i) invest in bonds, notes, loans, debentures or securities on a leveraged basis or (ii) hedge the default risk of bonds, notes, loans, debentures or securities.

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • 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.

  • Credit Facility shall include any agreement or instrument (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (3) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof.

  • Credit Facility Obligations means all “Obligations” (or any other defined term having a similar purpose) as defined in the Credit Agreement.

  • Loan Default means an event, which with the giving of notice or lapse of time or both, would become a Loan Event of Default.

  • Credit Facility Agent means the then acting Agent as defined in and under the Credit Facility or any successor thereto.

  • Bankruptcy Default has the meaning assigned to such term in Section 6.01.

  • Lender Default means (a) the refusal or failure (which has not been cured) of a Lender to make available its portion of any Borrowing or to fund its portion of any Unpaid Drawing under Section 3.4 that it is required to make hereunder, (b) a Lender having notified the Administrative Agent and/or the Borrower that it does not intend to comply with its funding obligations under this Agreement or has made a public statement to that effect with respect to its funding obligations under this Agreement, (c) a Lender has failed to confirm (within one Business Day after a request for such confirmation is received by such Lender) in a manner reasonably satisfactory to the Administrative Agent, the Borrower and, in the case of a Revolving Credit Lender, each Revolving Letter of Credit Issuer that it will comply with its funding obligations under this Agreement, (d) a Lender being deemed insolvent or becoming the subject of a bankruptcy or insolvency proceeding or has admitted in writing that it is insolvent; provided that a Lender Default shall not be deemed to have occurred solely by virtue of the ownership or acquisition of any Stock in the applicable Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide the applicable Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit the applicable Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with the applicable Lender, or (e) a Lender that has, or has a direct or indirect parent company that has, become the subject of a Bail-In Action.

  • Authority Default shall have the meaning set forth in Clause 23.2;

  • Non-Monetary Default shall have the meaning assigned to such term in Section 11(d).

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Senior Credit Facility shall include any agreement (i) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (ii) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (iii) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (iv) otherwise altering the terms and conditions thereof.

  • Credit Facility Agreement means the Credit Facility and Reimbursement Agreement dated as of May 1, 2003, between the Bond Bank and the Bank providing for the timely payment, when due, of a portion of the principal of and interest on the Notes, all subject to such conditions and under such terms as described in Article X of the Indenture.

  • Monetary Default shall have the meaning assigned to such term in Section 11(a).

  • Letter of Credit Default means with respect to a Letter of Credit, the occurrence of any of the following events:

  • Credit Facility Provider means the issuer of or obligor under a Credit Facility.

  • Bank Credit Facility means any credit agreement or working capital facility among the Company and/or its Subsidiaries and one or more lenders, as such credit agreement or working capital facility may be amended, renewed, extended, substituted, refinanced, restructured, replaced, supplemented or otherwise modified (including with other lenders) from time to time, regardless of whether any other credit agreement or working capital facility or any portion thereof was outstanding or in effect at the time of such amendment, renewal, extension, substitution, refinancing, restructuring, replacement, supplement or modification.

  • Credit Facility Documents means the collective reference to any Credit Facility, any notes issued pursuant thereto and the guarantees thereof, and the collateral documents relating thereto, as amended, supplemented, restated, renewed, refunded, replaced, restructured, repaid, refinanced or otherwise modified, in whole or in part, from time to time.

  • 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.

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.

  • New Credit Facility is defined in Section 9.8.

  • Discharge of Credit Agreement Obligations means, with respect to any Shared Collateral, the Discharge of the Credit Agreement Obligations with respect to such Shared Collateral; provided that the Discharge of Credit Agreement Obligations shall not be deemed to have occurred in connection with a Refinancing of such Credit Agreement Obligations with additional First Lien Obligations secured by such Shared Collateral under an Additional First Lien Document which has been designated in writing by the Administrative Agent (under the Credit Agreement so Refinanced) to the Additional First Lien Collateral Agent and each other Authorized Representative as the “Credit Agreement” for purposes of this Agreement.