Default Condition definition

Default Condition means the occurrence of any event which, after satisfaction of any requirement for the giving of notice or the lapse of time, or both, would become an Event of Default.

Default Condition means the occurrence of any of the events specified in Section 8.03 hereof.

Default Condition means any event or condition that, with the passage of time or giving of notice, or both, would constitute an Event of Default.

Examples of Default Condition in a sentence

Any notice of a Default Condition provided by the Administrative Agent to the Loan Party Representative is treated as notice to each Loan Party.
Each Loan Party and the Loan Party Representative must promptly notify the Administrative Agent if a Default Condition exists.
No Default Condition exists or would exist after giving effect to the requested Loans (but nonetheless the Lenders may in their discretion continue to make Loans, and if it does so that does not (1) waive any Event of Default or Default, (2) establish a course of dealing, or (3) obligate any Lender to make any other Loans).
If, notwithstanding the applicable Loan Party’s authorization to do so, any accountant, auditor or governmental authority fails to comply with Administrative Agent’s requests made pursuant to this Section 4.8, no Default Condition shall arise as a result thereof.

Default Condition means the occurrence of any event which, ----------------- after satisfaction of any requirement for the giving of notice or the lapse of time, or both, would become an Event of Default.

Default Condition means that either or both a Default and an Event of Default exist.

Default Condition means the occurrence of any event which, after satisfaction of any requirement for the giving of notice or the lapse of time, or both, would become an Event of Default. "Default Rate" means the annual percentage interest rate applied to the principal of the Loan not paid when due under the terms of the applicable Loan Documents, which rate shall equal the sum of Prime Rate plus an additional ______ percent (__%) per annum.

Default Condition means the occurrence of any of the events specified in Section 8.1 hereof, in the Note, the Mortgage, or in any of the Collateral Loan Documents which, with the giving of notice or passage of time (or both) would constitute a Default hereunder.

Default Condition in respect of any action or event, means that (a) an Event of Default or Potential Default exists immediately before, or will occur as a result of (or otherwise will exist immediately after), the occurrence of that action or event or (b) the occurrence of the event or action will cause any of the representations or warranties (unless they speak to a specific date or are based on facts which have changed by transactions contemplated or expressly permitted by this agreement) in the Credit Documents to be materially incorrect.

Default Condition means any condition or event which constitutes a Default or which, with the giving of notice or lapse of time or both would, unless cured or waived, become a Default. "Effective Date" means the date on which the Bank receives a fully completed and executed copy of this Agreement.

Default Condition means the occurrence of any event which, after