Excluded Default definition

Excluded Default means an Event of Default arising solely under Clause 20.1(d) (Cross Default) by reason of material adverse change or similar provisions contained in any other agreement in respect of Borrowed Money of the Borrower or any member of the Group; provided that such Event of Default shall cease to be an Excluded Default if:

Excluded Default means an Event of Default (as well as any related Default) under any of the following:

Excluded Default has the meaning given to that term in Clause 28.20 (Portfolio-wide Materiality).

Examples of Excluded Default in a sentence

• The Borrower will notify the Agent in writing of the occurrence of any Event of Default or Potential Event of Default other than an Excluded Default (and of any action taken or proposed to be taken to remedy it) promptly after becoming aware of it.

• For so long as no Loan Event of Default (other than a Non-Migrated Bond Excluded Default) has occurred and is continuing, nothing in this Clause 6.2 shall prevent (a) any Obligor from making a Permitted Non-Migrated Bond Distribution or funding any early redemption or permitted purchase of the Non-Migrated Bonds by BAA or (b) HAL, GAL or STAL from discharging its obligations under the Non-Migrated Bond Guarantee.

• Parties shall ensure that to the maximum extent possible under privacy Law, the Foreground shall be made available for further research activities with the purpose to generate additional results that could further support the aforementioned interests.

• However, any actual or potential default, event of default or the like (howsoever described) shall cease to be an Excluded Default if any Person or group of Persons so entitled declares due and payable or puts on demand any Indebtedness of the Borrower or any member of the Group, or cancels or suspends any commitment under any agreement to which the Borrower or any member of the Group is a party.

• The sole purpose of the enumeration of each Excluded Default is to exclude that Event of Default from the definition of Loan Modification Agreement Event of Default, and no such enumeration shall reduce Standard Federal's rights with regard to any Excluded Default, except to the extent that Standard Federal's rights regarding other Events of Default are affected by this Loan Modification Agreement.

More Definitions of Excluded Default

Excluded Default means the acceleration of not more than $225,000,000 in Existing Debt based or predicated upon the consummation of the Acquisition, if such Indebtedness is paid in full and discharged within five Business Days from the date of such acceleration.

Excluded Default means an Event of Default arising out of the failure by the Company to comply with each of the following: Section 6.02, Section 6.03(b), (c) or (d) and Section 6.04.

Excluded Default means any event of default or review event (however described) under any document which contemplates any Financial Indebtedness actually or contingently owing by a member of the Group as at the date of this Agreement (including under a Derivative Transaction) or any facility or commitment existing at the date of this Agreement for such Financial Indebtedness, which occurs as a result of:

Excluded Default means a default or event of default existing only with respect to Senior Indebtedness that (a) has an outstanding principal balance of less than $1,000,000 and is not owing under the Senior Credit Agreement, the Indenture or the Associated Bank Agreement or any replacement or refinancing of any thereof or (b) is owing to an Affiliate of the Company.

Excluded Default means a Senior Event of Default (as defined in the Global Intercreditor Agreement) which arises solely as a result of: (a) RPM failing to comply with its obligations under clause 18.15(b) (RPM Undertaking relating to Disposals) of the Global Intercreditor Agreement; or (b) a "Change of Control" (as defined in the Senior Facilities Agreement) occurring because RPM has ceased to have legal and beneficial ownership of at least 25.1% of the issued equity share capital of Holdco;

Excluded Default means (i) any payment default under the Credit Agreement arising from a collateral deficiency that results in the amount of obligations outstanding under the Credit Agreement (including loans, letters of credit and other extensions of credit) exceeding the borrowing base provided for therein.; or (ii) any default under the Existing Notes Indenture, prior to April 17, 2006.

Excluded Default means an Event of Default arising solely under Clause 20.1(d) (Cross Default)