Holdco Event of Default definition

Holdco Event of Default shall have the meaning ascribed to the term “Event of Default” in the Holdco Credit Agreement.
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Holdco Event of Default. (i) failure by Holdings to make any payment required hereunder, and such failure shall continue unremedied for a period of five Business Days, (ii) failure by Holdings or any Subsidiary to comply for 30 days after notice from the Trustee (or Noteholders representing at least 25% of the principal balance of outstanding First Lien Notes of any issue of First Lien Notes) with any of their other respective covenants set forth in this Agreement or (iii) the occurrence of any Holdings Filing. For the avoidance of doubt, any Default or Event of Default under any Loan Document shall not constitute a Holdco Event of Default hereunder (unless it constitutes an event specified in the preceding sentence), and a Holdco Event of Default shall arise hereunder only upon the occurrence of any event specified in the preceding sentence.
Sample 1Sample 2
Holdco Event of Default failure by Holdings to make any payment required hereunder, and such failure shall continue unremedied for a period of five Business Days. For the avoidance of doubt, any Default or Event of Default under any Loan Document shall not constitute a Holdco Event of Default hereunder, and a Holdco Event of Default shall arise hereunder only upon the occurrence of any event specified in the preceding sentence.
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Examples of Holdco Event of Default in a sentence

  • The determination of whether such Disputed Default is a Holdco Event of Default will be decided by binding arbitration pursuant to the [Commercial Arbitration Rules promulgated by the American Arbitration Association] before a single arbitrator who shall be mutually acceptable to Holdings and the Notice Party and who shall conduct the arbitration in New York, New York and who shall apply New York law.

  • If the arbitrator determines that the Disputed Default is a valid Holdco Event of Default (an “Arbitration Decision”), then the Default Notice will be valid as of the original date of delivery of such Default Notice.

  • For the avoidance of doubt, the bankruptcy, insolvency, or dissolution of, or the commencement of any case or proceeding under any bankruptcy, insolvency, or similar law in respect of, either the Borrower or any of its subsidiaries shall (i) not require Holdings to make any payment under this Agreement until all of the conditions in paragraph 3 (to the extent otherwise applicable) have been satisfied and (ii) not constitute a Holdco Event of Default hereunder.

  • If the Notice Party determines in good faith that such Disputed Default is valid notwithstanding Holdings’ determination and elects (or is instructed by Noteholders holding not less than 25% of the outstanding principal amount of the outstanding Notes of any issue of First Lien Notes) to pursue such Disputed Default, then Holdings and the Notice Party shall submit to binding arbitration for a determination of whether the Disputed Default is a Holdco Event of Default hereunder.

  • If the arbitrator determines that the Disputed Default is not a Holdco Event of Default, the Default Notice delivered by the Notice Party will be null and void.

  • For the avoidance of doubt, the bankruptcy, insolvency, or dissolution of, or the commencement of any case or proceeding under any bankruptcy, insolvency, or similar law in respect of, either Borrower or any of its subsidiaries shall (i) not require Holdings to make any payment under this Agreement until all of the conditions in Section 2 and Section 3 have been satisfied (including, without limitation, the exhaustion of all Remedies) and (ii) not constitute a Holdco Event of Default hereunder.

  • After the execution and delivery thereof, the Holdco Guaranty or any provision thereof shall cease to be in full force or effect as to Holdco, or Holdco or any Person acting for or on behalf of Holdco shall deny or disaffirm Holdco's obligations under the Holdco Guaranty or a "Holdco Event of Default" shall occur and be continuing;".


More Definitions of Holdco Event of Default

Holdco Event of Default means a "Holdco Event of Default" under, and as defined in, the Holdco Guaranty.
Sample 1
Holdco Event of Default shall have the meaning ascribed to the term “Event of Default” in the Holdco Credit Agreement. “Holdco Lender” means a lender under the Holdco Credit Agreement.” “Holdco Minimum Payoff Amount” shall have the meaning ascribed to the term “Minimum Payoff Amount” in the Holdco Credit Agreement, as notified to the Administrative Agent by the Holdco Administrative Agent (each such notice, a “Holdco Minimum Payoff Amount Notice”). “Holdco Minimum Payoff Amount Notice” shall have the meaning set forth in the definition of Holdco Minimum Payoff Amount. “Holdco Paying Agent” shall have the meaning set forth in the definition of Holdco Credit Agreement.
Sample 1

Related to Holdco 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).

  • 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 18.3.

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

  • 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)).

  • Senior Event of Default means an Event of Default under the Senior Loan Documents.

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

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

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

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

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

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

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

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

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

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

  • Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

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

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • 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;

  • 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.

  • Servicer Event of Default One or more of the events described in Section 7.01.

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

  • Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.

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