Excluded Default definition

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

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

Examples of Excluded Default in a sentence

• 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.

• Lender shall have no obligation to grant any waivers with respect to any such existing or future Excluded Default, and the granting of the waiver of the Existing Default under this Amendment shall not be construed as a course of conduct or dealing on the part of Lender that would obligate or create any duty on the part of Lender to waive any such Excluded Default.

• Each Lender agrees (to the extent that it is able to do so in its own name or is not contractually restricted from so agreeing at the date hereof) that it shall not take any action, or vote in favour of taking any action, in each case, to cause or declare due and payable or put on demand any Indebtedness of the Borrower or any member of the Group before its normal maturity by reason of any Excluded Default in respect of that Indebtedness.

• 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 any Early Repayment Event (and of any action taken or proposed to be taken to remedy it) promptly and in any event within three Business Days after becoming aware of it.

• 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 any Early Repayment Event (and of any action taken or proposed to be taken to remedy it) promptly and in any event within 3 Business Days after becoming aware of it.

More Definitions of Excluded Default

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 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 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:

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

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.