Incipient Termination Event definition

Incipient Termination Event means any event that, with the passage of time or notice or both, would, unless cured or waived, become a Termination Event.

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Incipient Termination Event any event which, with the giving of notice, the lapse of time, or both, would become a Termination Event.

Incipient Termination Event means an event that, with the giving of notice or lapse of time, or both, would constitute a Termination Event.

Examples of Incipient Termination Event in a sentence

• No Incipient Termination Event or Termination Event hereunder or any “Events of Default” or “Default” (each as defined in the Credit Agreement) shall have occurred and be continuing or would result after giving effect to any of the transactions contemplated on the Closing Date.

• The Borrower shall not at any time (i) advance credit to any Person or (ii) declare any distributions, repurchase any Stock, return any capital, or make any other payment or distribution of cash or other property or assets in respect of the Borrower’s Stock or make a repayment with respect to any Subordinated Loans if, after giving effect to any such advance or distribution, a Funding Excess, Incipient Termination Event or Termination Event would exist or otherwise result therefrom.

• Upon the occurrence and during the continuance of an Incipient Termination Event or a Termination Event, the Servicer shall deliver and turn over such books and records to Buyer or its representatives at any time on demand.

• Incipient Termination Event, Event of Servicer Termination or Incipient Servicer Termination Event 59 Section 11.06.

• If an Incipient Termination Event or a Termination Event shall have occurred and be continuing, or Buyer, in good faith, notifies any Originator that an Incipient Termination Event or a Termination Event may have occurred, is imminent or deems its rights or interests in the Transferred Receivables insecure, each such Originator shall provide such access at all times and without advance notice and shall provide Buyer, the Administrative Agent and the Servicer with access to its suppliers and customers.

More Definitions of Incipient Termination Event

Incipient Termination Event means an Incipient Termination Event under (and as such term is defined in) Annex X to the Receivables Funding Agreement.

Incipient Termination Event means a condition, state of facts, act or event that does, or would, after notice or lapse of time or both, constitute a Termination Event if that condition, state of facts, act or event were not cured or removed within any applicable grace or cure period.

Incipient Termination Event has the meaning set forth in Section 9.11(a).