Junior Default Notice definition

Junior Default Notice means a written notice from any Junior Creditor or Junior Trustee to the Trustee pursuant to which the Trustee is notified of the occurrence of a Junior Default, which notice incorporates a reasonably detailed description of such Junior Default.
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Junior Default Notice means a notice delivered by Subordinated Lender to Agent and the Credit Parties that an event of default has occurred and is continuing under the Junior Debt Documents.
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Junior Default Notice means a written notice from Borrowers or Junior Agent to Senior Agent and Borrowers pursuant to which Senior Agent is notified of the occurrence of a Junior Default, which notice incorporates a reasonably detailed description of such Junior Default provided that any notice of default sent to any Obligor from Junior Agent and simultaneously or subsequently sent to Senior Agent in accordance with Section 11 hereof will be considered a Junior Default Notice and satisfy all delivery requirements thereof, for all purposes under this Agreement (other than Section 2.4(b)(ii) with respect to which the delivery requirements shall only be satisfied when such notice is sent to Senior Agent in accordance with Section 11 hereof).
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Examples of Junior Default Notice in a sentence

  • Junior Creditor, Owner and Borrower each shall provide Lender with a Junior Default Notice upon the occurrence of each Event of Default under the Junior Loan Documents, and Junior Creditor shall notify Lender in the event such Event of Default is cured or waived.

  • Borrowers shall, and Junior Agent shall use reasonable efforts to, provide Senior Agent with a Junior Default Notice upon knowledge of the occurrence of each Junior Default, and Junior Agent shall notify Senior Agent in the event that it has knowledge that such Junior Default has been cured or waived.


More Definitions of Junior Default Notice

Junior Default Notice means a written notice from Creditors to the Lenders of the occurrence of an “Event of Default” under (and as defined in) the Notes, which notice incorporates a reasonably detailed description of such default. “Paid in Full” or “Payment in Full” mean the indefeasible payment in full, in cash, of all Senior Debt or Subordinated Debt, as the case may be (other than inchoate indemnification obligations), and termination of all commitments to lend under the Loan Documents or any Refinancing thereof or the Creditor Documents, as the case may be.
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Junior Default Notice means a written notice to Agent pursuant to which Agent is notified of the existence of a Junior Default. LIABILITIES shall mean all liabilities and obligations of Borrowers to Agent and Lenders under the Credit Agreement, the Loan Documents or otherwise, whether now existing or hereafter arising, and any refinancing, refunding, replacement and extension thereof, whether arising before or after the commencement of any bankruptcy, insolvency or receivership proceedings involving any Borrower. LOAN DOCUMENTS shall mean all documents, instruments and other agreements executed in connection with or contemplated by the Credit Agreement or otherwise evidencing or securing any of the Liabilities, including without limitation the Security Agreement.
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Junior Default Notice means a written notice from the Junior Creditors to Lessor pursuant to which Lessor is notified of the occurrence of a Junior Default, which notice incorporates a reasonably detailed description of such Junior Default.
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Junior Default Notice is defined in Section 8(a).
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Related to Junior Default Notice

  • Default Notice means the written notice of Default of the Agreement issued by one Party to the other.

  • Senior Default means any Senior Payment Default or Senior Covenant Default.

  • Preliminary Default Notice shall have the meaning ascribed thereto in Article 13 of this Agreement;

  • Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p).

  • Guarantor Default means a default by the Guarantor under its obligations pursuant to Article IX of the Note Purchase Agreement which is existing and continuing.

  • Loan Default means an event, which with the giving of notice or lapse of time or both, would become a Loan Event of Default.

  • 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)).

  • Minor Default means any Event of Default that is not a Major Default.

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • Indenture Default means any condition, circumstance, act or event that, with the giving of notice, the lapse of time or both, would constitute an Indenture Event of Default.

  • Forbearance Default means: (A) the failure of the Company to provide the Noteholder Group and its financial advisors with reasonable access, as determined by the Noteholder Group in its reasonable discretion, to its Chief Executive Officer, other senior executives and outside advisors, including representatives of Xxxxx Xxxxx Xxxxxx that are working with the Company, and to provide the Noteholder Group and its legal and financial advisors with any and all due diligence information they may reasonably request, including, without limitation, the Company’s current 13-week cash flow schedule, and all updates thereto as soon as reasonably practicable after they are prepared, but in no event no later than two (2) business days thereafter; (B) the failure of the Company to engage in good faith negotiations with the Noteholder Group regarding a potential restructuring transaction, which determination shall be made by the Noteholder Group in its reasonable discretion; (C) the failure of the Company to promptly notify the Noteholder Group of the occurrence of a Forbearance Default (as defined in the DDJ Third Amended Forbearance Agreement) under the DDJ Third Amended Forbearance Agreement or any amendment or modification to the DDJ Third Amended Forbearance Agreement; (D) termination of the DDJ Third Amended Forbearance Agreement; (E) the execution of any amendment or modification to the DDJ Third Amended Forbearance Agreement, which amendment or modification has a material adverse effect on the Noteholder Group as determined by the Noteholder Group in its reasonable discretion; (F) termination by the Company of the Xxxxxx Engagement Letter or the failure of the Company to pay Xxxxxx’x fees, expenses and indemnity in accordance with the terms of the Xxxxxx Engagement Letter; (G) the occurrence of any Event of Default that is not a Specified Existing Default; (H) the failure of the Company to comply with any term, condition, covenant or agreement set forth in this Third Amended Forbearance Agreement; (I) the failure of any representation or warranty made by the Company under this Third Amended Forbearance Agreement to be true and correct in all material respects as of the date when made; (J) the commencement by or against the Company or any of the Subsidiaries of a case under title 11 of the United States Code; or (K) the commencement of any action or proceeding by any creditor of the Company or any of the Subsidiaries seeking to attach or take similar action against the assets of the Company or the Subsidiaries. Any Forbearance Default shall constitute an immediate Event of Default under the Indenture.

  • Additional Default means any provision contained in any document or instrument creating or evidencing Indebtedness of the Borrower or any of its Subsidiaries which permits the holder or holders of such Indebtedness to accelerate (with the passage of time or giving of notice or both) the maturity thereof or otherwise requires the Borrower or any of its Subsidiaries to purchase such Indebtedness prior to the stated maturity thereof and which either (i) is similar to any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement, but contains one or more percentages, amounts or formulas that is more restrictive or has a xxxxxxx xxxxx period than those set forth herein or is more beneficial to the holder or holders of such other Indebtedness (and such provision shall be deemed an Additional Default only to the extent that it is more restrictive or more beneficial) or (ii) is different from the subject matter of any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement.

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

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

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.

  • Lease Default means any event or condition which, with the lapse of time or the giving of notice, or both, would constitute a Lease Event of Default.

  • Senior Payment Default means any default in the payment of principal of (or premium, if any) or interest on any Senior Debt of the Company when due, whether at the Stated Maturity of any such payment or by declaration of acceleration, call for redemption or otherwise. In the event that any Senior Nonmonetary Default (as defined below) shall have occurred and be continuing, then, upon the receipt by the Company, the Subsidiary Guarantors and the Trustee of written notice of such Senior Nonmonetary Default from the agent for the Designated Senior Debt which is the subject of such Senior Nonmonetary Default, no Securities Payment shall be made during the period (the “Payment Blockage Period”) commencing on the date of such receipt of such written notice and ending on the earlier of (i) the date on which such Senior Nonmonetary Default shall have been cured or waived or shall have ceased to exist or all Designated Senior Debt the subject of such Senior Nonmonetary Default shall have been discharged; (ii) the 179th day after the date of such receipt of such written notice; or (iii) the date on which the Payment Blockage Period shall have been terminated by written notice to the Company, any Subsidiary Guarantor or the Trustee from the agent for the Designated Senior Debt initiating the Payment Blockage Period; provided, however, that nothing in this Section shall prevent the satisfaction of any sinking fund payment in accordance with Article Sixteen by delivering and crediting pursuant to Section 1602 Securities which have been acquired (upon redemption or otherwise) prior to the date of such receipt of such written notice. No more than one Payment Blockage Period may be commenced with respect to the Securities of a particular series during any 360-day period and there shall be a period of at least 181 consecutive days in each 360-day period when no Payment Blockage Period is in effect. For all purposes of this paragraph, no Senior Nonmonetary Default that existed or was continuing on the date of commencement of any Payment Blockage Period shall be, or be made, the basis for the commencement of a subsequent Payment Blockage Period, whether or not within a period of 360 consecutive days, unless such Senior Nonmonetary Default shall have been cured for a period of not less than 90 consecutive days.

  • Special Default means (i) the failure by Owner to pay any amount of principal of or interest on any Equipment Note when due or (ii) the occurrence of any Default or Event of Default referred to in Section 5.01(v), (vi) or (vii).

  • 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.

  • Incipient Default means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Bankruptcy Default has the meaning assigned to such term in Section 6.01.