Limited Recourse Default definition

Limited Recourse Default means any Lease Event of Default arising solely as a result of one or more of the following: (a) an event of the type described in Section 16.1(h)(ii)of the Master Lease if the applicable failure to observe or perform relates solely to a term, covenant, condition or agreement contained in the Credit Agreements that (i) is not contained in the same form or in any analogous form in the Existing Credit Agreement or (ii) is contained in an analogous form in the Existing Credit Agreement but is more onerous to the Guarantor than the analogous term, covenant, condition or agreement contained in the Existing Credit Agreement (provided, that a failure to perform any such term, covenant, condition or agreement described in this clause (ii) shall only constitute a Limited Recourse Default if the analogous term, covenant, condition or agreement contained in the Existing Credit Agreement shall have been fully observed and performed); or (b) an event of the type described in Section 16.1(h)(iii)of the Master Lease if (i) the agreement or instrument evidencing or governing the applicable Indebtedness is not in effect on the Documentation Date and the term, covenant, condition or agreement that has not been observed or performed either (A) does not exist in the same form or in any analogous form in any agreements or instruments evidencing or governing Indebtedness of the Lessee or the Guarantor in effect on the Documentation Date or (B) does exist in an analogous form in agreements or instruments evidencing or governing Indebtedness of the Lessee or the Guarantor in effect on the Documentation Date but is more onerous to the Lessee or the Guarantor, as applicable, than the analogous term, covenant, condition or agreement contained in such agreements or instruments in effect on the Documentation Date or (ii) the applicable agreement or instrument governing Indebtedness is in effect on the Documentation Date and the applicable failure to observe or perform relates solely to a term, covenant, condition or agreement that (A) is not contained in the same form or in any analogous from in such agreement or instrument as in effect on the Documentation Date or (B) is more onerous to the Lessee or the Guarantor, as applicable, than the analogous term, covenant, condition or agreement contained in such agreement or instrument as in effect on the Documentation Date (provided, that a failure to perform any such term, covenant, condition or agreement described in this clause (B) shall...
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Limited Recourse Default means any condition, occurrence or event which, after notice or lapse of time or both, would constitute a Limited Recourse Event of Default.
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Limited Recourse Default has the meaning specified in Section 17(a).
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Examples of Limited Recourse Default in a sentence

  • Also, Asplundh Tree Expert priced a USD 2bn TLB due 2027 at Libor+ 250bps and a 99.5 OID to fund a shareholder distribution and refinance debt.

  • The definition of "Limited Recourse Default" in Appendix A to the Participation Agreement shall be amended by inserting a period immediately after the phrase "observed and performed)" in line 11 thereof and deleting the remainder of such definition in its entirety.


More Definitions of Limited Recourse Default

Limited Recourse Default in Appendix A to the Participation Agreement shall be amended by inserting a period immediately after the phrase "observed and performed)" in line 11 thereof and deleting the remainder of such definition in its entirety.
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Related to Limited Recourse Default

  • Non-Monetary Default Cure Period shall have the meaning assigned to such term in Section 11(d).

  • Modification Default Loss means the loss calculated in Exhibits 2a(1)-(3) for single family loans previously modified pursuant to this Single Family Shared-Loss Agreement that subsequently default and result in a foreclosure, short sale or Deficient Loss.

  • 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.

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

  • Indenture Default means, with respect to any Indenture, any Event of Default (as such term is defined in such Indenture) thereunder.

  • 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.

  • Loan Default means any event, condition or failure which, with notice or lapse of time or both, would become a Loan Event of Default.

  • Guarantor Default means any condition or event that with the giving of notice or lapse of time or both would, unless cured or waived, become a Guarantor Event of Default.

  • 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).

  • 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.

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

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

  • Default Under First Lien With respect to each Second Lien Loan, the related First Lien Loan related thereto is in full force and effect, and there is no default, breach, violation or event which would permit acceleration existing under such first Mortgage or Mortgage Note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration thereunder;

  • default fund means a fund established by a CCP in accordance with Article 42 of Regulation (EU) No 648/2012 and used in accordance with Article 45 of that Regulation;

  • 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).

  • 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.

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

  • Default under Specified Transaction provisions of Section 5(a)(v) will not apply to Party A and will not apply to Party B.

  • Monetary Default Notice shall have the meaning assigned to such term in Section 11(a).

  • Monetary Default shall have the meaning assigned to such term in Section 11(a).

  • Non-Monetary Default shall have the meaning assigned to such term in Section 11(d).

  • 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.

  • Non-Monetary Default Notice shall have the meaning assigned to such term in Section 11(d).

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

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

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