Incipient Event of Default definition
Examples of Incipient Event of Default in a sentence
Lender may remedy or cure the Event of Default or Incipient Event of Default within the cure period under this Agreement.
Buyer shall have no further right to require the report with respect to a particular Event of Default after that Event of Default has been cured; Lender shall have the right to cure an Event of Default or Incipient Event of Default on behalf of Seller, only if ▇▇▇▇▇▇ sends a written notice to Buyer before the end of any cure period indicating ▇▇▇▇▇▇’s intention to cure.
Lender may remedy or cure the Incipient Event of Default or Event of Default within the cure period under this Power Purchase Agreement.
No Event of Default shall have occurred or will result from such Revolving Credit Advance or issuance of Letter of Credit and no Incipient Event of Default shall have occurred which may become an Event of Default or will result from such Revolving Credit Advance or issuance of Letter of Credit.
Agent shall not be deemed to have knowledge or notice of the occurrence of any Incipient Event of Default or Event of Default hereunder or under the Ancillary Agreements, unless Agent has received notice from a Lender or Borrower referring to this Agreement or the Ancillary Agreements, describing such Incipient Event of Default or Event of Default and stating that such notice is a "notice of default".
Agent shall take such action with respect to such Incipient Event of Default or Event of Default as shall be reasonably directed by the Required Lenders; provided, that, unless and until Agent shall have received such directions, Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Incipient Event of Default or Event of Default as it shall deem advisable in the best interests of Lenders.
The reports shall be accompanied by a certificate of each Borrower and Canisco, signed by the Chief Financial Officer of such Borrower and Canisco, which shall state whether an Event of Default or an Incipient Event of Default has occurred.
Any Average Eurodollar Rate Advances shall automatically convert to Alternate Base Rate Advances in the event that an Event of Default or an Incipient Event of Default shall exist or have occurred or this Agreement shall terminate or not be renewed and such Alternate Base Rate Advances shall bear interest at the Default Rate.
The Lender is authorized and empowered to accept following the occurrence of an Event of Default or Incipient Event of Default the return of the goods represented by any of the Receivables, without notice to or consent by the Borrower, all without discharging or in any way affecting the Borrower's liability hereunder.
The costs to the Borrower of any reprogramming required as a result of the Year 2000 Issue to permit the proper functioning of such systems and equipment and the proper processing of data, and the testing of such reprogramming, and of the reasonably foreseeable consequences of the Year 2000 Issue to Borrower (including systems and equipment supplied by others) are not reasonably expected to result in an Incipient Event of Default or Event of Default or to have a Material Adverse Effect.