Examples of Credit Facility Event of Default in a sentence
Any modification or amendment of the Facilities Agreement or the Operative Documents which violates any material term or provision of the Senior Credit Agreement, the other Loan Documents or this Agreement or the termination or surrender of the Facilities Agreement or the Operative Documents without the prior written consent of the Administrative Agent shall constitute a Senior Credit Facility Event of Default.
The Administrative Agent covenants and agrees to give the FF&E Agent prompt written notice of (x) any Senior Credit Facility Event of Default, (y) any act or condition which, in the Administrative Agent's reasonable judgment could reasonably be expected to have a "MATERIAL ADVERSE EFFECT" (as such term is defined under the Senior Credit Agreement) and (y) the taking of any action described in Section 3.3 of this Agreement but only if such action is taken pursuant to a written notice or written Instrument.
The Issuer shall notify the holders and the Trustees of any Credit Facility Event of Default.
Notwithstanding the immediately preceding sentence, Hancock shall be permitted to pay, and the Holders shall be permitted to receive, any regularly scheduled cash payment of interest on the Notes for so long as at the time of such payment, or after giving effect thereto, no Credit Facility Default or Credit Facility Event of Default has occurred and is continuing under the Credit Facility Loan Agreement or would occur after giving effect thereto.
During any continuance of any such Credit Facility Event of Default, this Article XI shall be in full force and effect with respect to the Indenture Debt and the Indenture Documents.
The parties hereto agree that Section 1.2 of the Secured Loan Agreement is hereby amended to delete the definition of "Credit Facility Event of Default" and to include the following definitions: "Loan and Security Agreement Event of Default" an Event of Default under the Loan and Security Agreement, to be dated on or about May 12, 2004 (the "Loan and Security Agreement"), by and among Evergreen International Aviation, Inc.
In the event that a Voided Payment is recovered from the Credit Facility Agent or any Credit Facility Secured Party, an Credit Facility Event of Default shall be deemed to have existed and to be continuing under the Credit Facility Loan Agreement from the date of the Credit Facility Agent’s or such Credit Facility Secured Party’s initial receipt of such Voided Payment until the full amount of such Voided Payment is restored to the Credit Facility Agent or such Credit Facility Secured Party.
Optional Redemptions and prepayments of Notes and Loans on or after the Expected Principal Repayment Date or during the continuation of an Event of Default (if any Notes are outstanding) or a Credit Facility Event of Default (if any Loans are outstanding) will be made on a pro rata and pari passu basis.
Concurrently with any exercise by the Collateral Agent of any of its rights and remedies under the Credit Facility Documents following the occurrence of any Credit Facility Event of Default, the Collateral Agent shall give written notice of such exercise to the Trustee and shall only exercise such rights or remedies under the Credit Facility Documents with respect to the Common Collateral in a manner consistent with the terms of this Agreement.
The Security Trustee shall have the right, upon the occurrence and continuance of an Indenture Event of Default (if any Notes are outstanding) or a Credit Facility Event of Default (if any Loans are outstanding) and without notice to any Grantor, to transfer to or to register in the name of the Security Trustee or any of its nominees any or all of the Pledged Stock, Pledged Membership Interests and Pledged Beneficial Interests, subject only to the revocable rights specified in Section 2.12(a).