Default or Event of Default definition

Default or Event of Default shall have the meaning given such term in Section 7.2 hereof.
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Default or Event of Default means if:
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Default or Event of Default means any event, condition, omission, or act, upon the occurrence of which a Creditor has the right, under its respective Credit Documents, to exercise rights and remedies provided therein, including commencement of an enforcement action with respect to all or any portion of the Collateral securing such Creditor’s Credit Facility.
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Examples of Default or Event of Default in a sentence

  • Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and any right to proceed thereafter as provided in Article V.

  • No such amendment or waiver will extend to or affect any obligation, covenant, agreement, Default or Event of Default not expressly amended or waived or impair any right consequent thereon.

  • Upon any such waiver, such Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

  • Where this Indenture provides for notice to the Rating Agencies, failure to give such notice shall not affect any other rights or obligations created hereunder, and shall not under any circumstance constitute a Default or Event of Default.

  • No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the extensions of credit requested to be made on such date.

  • The Trustee may withhold from Holders of the Notes notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal or interest) if it determines that withholding notice is in their interest.

  • No delay or omission of the Indenture Trustee or any Holder of any Note to exercise any right or remedy accruing upon any Default or Event of Default shall impair any such right or remedy or constitute a waiver of any such Default or Event of Default or an acquiescence therein.

  • The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

  • Except in the case of a Default or Event of Default in payment of principal of or interest on any Security of any Series, the Trustee may withhold the notice if and so long as its corporate trust committee or a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of Securityholders of that Series.

  • No Default or Event of Default shall have occurred and be continuing.


More Definitions of Default or Event of Default

Default or Event of Default. One or more of the events or occurrences set forth in Article X below.
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Default or Event of Default means if: (a) the Borrower does not pay on the due date any amount payable by it under this agreement in the manner required, unless the non-payment is caused by technical or administrative error and is remediated within 3 business days of the due date; (b) the Borrower does not fulfill one of the Financial Parameters set out in this agreement; (c) any representation, warranty, covenant, undertaking or statement made by the Borrower in this agreement or any certificate, statement or opinion delivered or made hereunder or in connection herewith, is incorrect or inaccurate in any material respect when made; (d) the Borrower fails duly to perform or observe any provision of this agreement and such failure, if capable of remedy shall continue for 30 days after the Lender has given Borrower notice of such failure; (e) any financial indebtedness for or in respect of moneys borrowed in excess of USD 500,000 in the aggregate or the equivalent thereof in any other currency is not paid when due after expiry of any applicable grace period or the Borrower declares a general moratorium on the payment of indebtedness; (f) the Borrower suspends its operations in view of an impending insolvency or similar situation or ceases to act substantially in its current capacity in view of an impending insolvency or takes any corporate action or other steps, or commences legal proceedings for its winding-up, dissolution, administration or re-organization (being a re-organization in the context of a bankruptcy, insolvency or similar situation) or for the appointment of a receiver, trustee or similar officer of it or all of its revenues or assets; (g) the Borrower announces its inability to meet its financial obligations or bankruptcy or other insolvency proceedings are instigated against the Borrower and have not been discharged or stayed within 60 days of the date of their instigation or the Borrower applies for or institutes such proceedings or offers to make an arrangement for the benefit of its creditors generally; (h) any governmental or other consent, license or authority required to make this agreement legal, valid, binding, enforceable and admissible in evidence or required to enable the Borrower to perform its obligations hereunder is withdrawn or ceases to be in full force and effect; (i) it is or becomes unlawful for the Borrower to perform any of its obligations under this agreement; (j) the general partner of the Borrower ceases to be, directly or indirectly, owned or c...
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Default or Event of Default. Default" or "Event of Default" shall --------------------------- have the meaning set forth in Section 13.
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Default or Event of Default wherever used in the Original Guaranty is hereby deleted and replaced with the following: "Default or Event of Default".
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Related to Default or Event of Default

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

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

  • Event of Default has the meaning specified in Section 8.01.

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Owner Event of Default shall have the meaning set forth in Section 12.3 hereof

  • Issuer Event of Default means the occurrence of any of the following events:

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Senior Event of Default means an Event of Default under a Senior Financing Agreement.

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

  • Specified Event of Default means an Event of Default under Section 7.01(a), (b), (h) or (i).

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • Material Event of Default means any Event of Default arising under Section 10.01(a), 10.01(b) (solely with respect to a default related to Section 8.01, 8.20 or 9.13), 10.01(f), 10.01(i), 10.01(j), 10.01(n) or 10.01(o).

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

  • Bond Event of Default means the occurrence of any of the following (or such event or condition which with notice or lapse of time or both would constitute any of the following):

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • Unmatured Event of Default means any event that, if it continues uncured, will, with lapse of time, notice or lapse of time and notice, constitute an Event of Default.

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Potential Issuer Event of Default means any condition, event or act which, with the lapse of time and/or the issue, making or giving of any notice, certification, declaration, demand, determination and/or request and/or the taking of any similar action and/or the fulfilment of any similar condition, would constitute an Issuer Event of Default;

  • Liquidity Event of Default means the occurrence of either (a) the Acceleration of all of the Equipment Notes or (b) an American Bankruptcy Event.

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Company Event of Default bears the meaning ascribed thereto in Section 13.1; “Company Notice of Default” bears the meaning ascribed thereto in Section 13.2;

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

  • Insurance Agreement Event of Default means an "Event of Default" as defined in the Insurance Agreement.

  • Servicer Event of Default wherever used herein, means any one of the following events: