Facility Suspension Event definition

Facility Suspension Event means (i) the occurrence of a Servicer Replacement Event or (ii) the occurrence of a Shutdown of the U.S. Government, or (iii) any disclaimer of its obligations by the guarantor under any Parent Guaranty or failure of any Parent Guaranty to be in full force and effect; provided that with respect to each Parent Guaranty provided by CSC, this clause (iii) shall only apply prior to the CSC Guaranty Termination Date.

Facility Suspension Event means (i) the occurrence of a Servicer Replacement Event, (ii) any disclaimer of its obligations by the guarantor under the CACI Performance Undertaking or failure of the CACI Performance Undertaking to be in full force and effect or (iii) any disclaimer of its obligations by the Revolver Agent under the Intercreditor Agreement or failure of the Intercreditor Agreement to be in full force and effect.

Facility Suspension Event means the occurrence of either (i) a Servicer Replacement Event, or (ii) a Shutdown of the U.S. Government.

Examples of Facility Suspension Event in a sentence

• At any time that a Facility Suspension Event is in effect, the Administrative Agent will be authorized to instruct the Revolver Agent to give notice of exclusive control under any or all Account Control Agreements in accordance with the terms of the Intercreditor Agreement.

• Provided there exists no Facility Suspension Event, upon notice to the Administrative Agent (which shall promptly notify the Purchasers), the Seller Representative may from time to time request an increase in the Aggregate Commitments by an amount (for all such requests) not exceeding $50,000,000; provided that (i) any such request for an increase shall be in a minimum amount of $25,000,000, (ii) the Seller Representative may make a maximum of two (2) such requests.

• In the event of the occurrence of an event or condition of the type described in clauses (i) and (iii) of the definition of Facility Suspension Event, the Administrative Agent shall have the option to (i) retain ownership of any Eligible Unbilled Receivable and/or (ii) cause the applicable Seller to repurchase such Eligible Unbilled Receivable from the Administrative Agent pursuant to Section 11.

• Provided there exists no Facility Suspension Event, upon notice to the Purchaser, the Seller Representative may from time to time request an increase in the Commitment; provided that (i) any such request for an increase shall be in a minimum amount of $25,000,000, (ii) the Seller Representative may make a maximum of two (2) such requests.

• However, the information contained in this report suggests that such powers would be likely to have the opposite effect and,if anything,to increase risk.

• Furthermore, upon the occurrence of a Facility Suspension Event, the Purchaser may terminate this Agreement at any time by providing written notice of such termination to the Seller Representative (in which case the Termination Date shall be the day specified as such in the written notice, which may be the date upon which such written notice is received by the Seller Representative (or, in each case, if such date is not a Business Day, the Termination Date shall be the immediately following Business Day)).

• No Loan Suspension Event or Facility Suspension Event shall relieve FMAC of its obligations under Section 4 of this Agreement.

• Provided there exists no Facility Suspension Event, upon notice to the Administrative Agent (which shall promptly notify the Purchasers), the Seller Representative may from time to time request an increase in the Aggregate Commitments by an amount (for all such requests) not exceeding $100,000,000; provided that (i) any such request for an increase shall be in a minimum amount of $25,000,000, (ii) the Seller Representative may make a maximum of four (4) such requests.

• Each of the events or circumstances set out in this Clause 7.1 is a Facility Suspension Event.

• At any time that a Facility Suspension Event is in effect, the Purchaser will be authorized to instruct the Revolver Agent to give notice of exclusive control under any or all Account Control Agreements in accordance with the terms of the Lien Release and Acknowledgment Agreement.

More Definitions of Facility Suspension Event

Facility Suspension Event means (i) the occurrence of a Servicer Replacement Event or (ii) the occurrence of a Shutdown of theU.S. Government, or (iii) any disclaimer of its obligations by the guarantor under any Parent Guaranty or failure of any Parent Guaranty to be in full force and effect; provided that with respect to each Parent Guaranty provided by CSC, this clause (iii) shall only apply prior to the CSC Guaranty Termination Date.

Facility Suspension Event means each event or circumstance set out in Clause 7.1 (Facility Suspension Events) of the Receivables Loan Agreement.

Facility Suspension Event means, with respect to this facility, ------------------------- (i) the representations contained in this Agreement with respect to FMAC or ICI contained in Section 6 are inaccurate in any material respect or there is a --------- material breach in any of FMAC's or ICI's covenants contained in this Agreement; or (ii) an Event of Default, or any event that with the passage of time or the giving of notice would constitute an Event of Default, shall have occurred and be continuing.

Facility Suspension Event set forth in Section 1.1 of the Existing Agreement is deleted in its entirety and restated as follows: