Guaranty Event of Default definition

Guaranty Event of Default means any an “Event of Default” as defined in the Guaranty Agreement.

Guaranty Event of Default. Has the meaning set forth in the Guaranty.

Guaranty Event of Default means any default by the Guarantor of any of its covenants, agreements or obligations contained under the Guaranty Agreement.

Examples of Guaranty Event of Default in a sentence

• Guarantor agrees that upon the occurrence of a Guaranty Event of Default its liability hereunder shall be immediate and shall not be contingent upon the exercise or enforcement by the Band of whatever remedies it may have against Great Lakes or any other guarantor, or the enforcement of any lien or realization upon any security the Band may at any time possess.

• Without limiting the foregoing, upon obtaining actual knowledge of any AXA Guaranty Event of Default, any of the Administrative Agent and the Banks may (but in no case shall any of them be obligated to) deliver written notice to the Borrower of such event, indicating that such event requires the Borrower to prepay the Loans pursuant to Section 3.2.3 (and in any such notice a Bank may make demand for payment of its Loans under Section 3.2.3).

• After giving effect to this Amendment, no Guaranty Event of Default or other Event of Default shall exist.

• In the event of a Guaranty Event of Default, the Band may make demand upon the Guarantor(s), or any one of them, for the payment or performance of the Guarantied Obligation, and each Guarantor binds and obliges it to make such payment or performance and to pay any related damages forthwith upon such demand.

• Each Guarantor further covenants and agrees that Band may upon a Guaranty Event of Default proceed first and directly against the Guarantor, without any action, proceeding or suit, whether against Great Lakes or against any security for the Guarantied Obligations (hereby intending, among other matters, to waive any defense to this Guaranty based on impairment of collateral), or any other party liable for the Guarantied Obligations.

More Definitions of Guaranty Event of Default

Guaranty Event of Default means (a) either (i) a Lakes Event of Default under the Development Agreement, (ii) a Manager Event of Default under the Management Agreement, or (iii) any other default or breach by Great Lakes under the Guaranteed Obligations; in each case after all cure periods have expired and either the time within which arbitration may be demanded has expired or, if arbitration has been timely demanded, the arbitrator has issued his award and the award determines that Great Lakes is in default or breach under a Guaranteed Obligation; or (b) the receivership, insolvency, bankruptcy, assignment for the benefit of creditors, reorganization, arrangement, composition or readjustment of, or any similar proceeding affecting Great Lakes or any Guarantor or any of its or their assets.

Guaranty Event of Default means the occurrence of (i) an Event of Default under Section 7.4 and Section 7.5 of the Credit Agreement or (ii) any other Event of Default and, in the case of this clause (ii), if such Event of Default exists twelve (12) months after the date of its occurrence.

Guaranty Event of Default means the Pledgor's failure to pay in full immediately on the Guaranty Due Date (as defined in the Guaranty) all amounts owing under the Guaranty. Subject to the provisions of Section 1(a) with respect to maintaining the Required Collateral Amount and so long as no Guaranty Event of Default shall have occurred and be continuing, or shall result therefrom: (i) each Securities Intermediary, with the prior written consent of the Bank (which consent shall be granted provided that no Guaranty Event of Default shall have occurred and be continuing or shall result therefrom), shall permit the Pledgor to withdraw principal from the Collateral Account, (ii) each Securities Intermediary shall remit dividends, warrants, profits, interest and other distributions on the Collateral (to the extent the same are received by such Securities Intermediary) to the Pledgor and the Pledgor shall have the right to receive dividends, warrants, profits, interest and other distributions on the Collateral (whether or not remitted by such Securities Intermediary); and (iii) the Pledgor shall have, directly or through one or more investment manager, the right to vote all of the securities comprising the Collateral and to give consents, ratifications and waivers with respect thereto. Upon the written request of the Pledgor with respect to assets replaced by substitute Collateral in accordance with Section 1(a) and provided that no Guaranty Event of Default shall have occurred and then be continuing or shall result therefrom, the Bank shall release its Liens on such assets as identified by the Pledgor and held in or credited to the Collateral Account but only to the extent that, after giving effect to such release, the Aggregate Lending Value of the Collateral exceeds the then Required Collateral Amount.

Guaranty Event of Default shall have the meaning set forth in Article V.

Guaranty Event of Default has the meaning specified in Section 11.

Guaranty Event of Default means the Pledgor's failure to immediately pay in full on the Guaranty Due Date (as defined in the Guaranty) all amounts owing under the Guaranty.

Guaranty Event of Default has the meaning set forth in Section 7.1 hereof.