Major Event of Default definition

Major Event of Default means an Event of Default arising under any of the following provisions:

Major Event of Default means an Event of Default arising from any of the following with respect to Borrower and the Guarantors only (and not, for the avoidance of doubt, (a) in relation to any other Subsidiary of Borrower or the Target Group or (b) in respect of any obligation to procure any action by any other Subsidiary of Borrower or the Target Group):

Major Event of Default means (i) any Event of Default (ignoring for this purpose any applicable grace periods) with respect to the Borrower or a Material Subsidiary of the Borrower (which, for the avoidance of doubt, shall not include the Target or any of its subsidiaries) only as specified in Sections 8.1(a) (but only insofar as it relates to a breach of any Major Representation), (b), (c), (d) (but only insofar as it relates to a breach of any Major Undertaking), (g), (h) and (k) or (ii) a Certain Funds Change of Control.

Examples of Major Event of Default in a sentence

• If a Major Event of Default has occurred and is continuing, an Interim Finance Party may set off any matured obligation (to the extent beneficially owned by the Interim Finance Party) due and payable by an Obligor to it under an Interim Finance Document against any matured obligation due and payable by it to that Obligor, regardless of currency, place of payment or booking branch of either obligation.

• Notwithstanding anything to the contrary herein, and for the avoidance of doubt, if an Event of Default occurs with respect to an individual Property and such Event of Default is a Non-Major Event of Default, then such Event of Default shall not in and of itself cause an Event of Default to occur at another Property (it being understood that only a Major Event of Default shall result in a “cross-default” of the Properties under this Lease).

• Parent shall use reasonable best efforts to take all actions necessary to ensure that (x) no Major Event of Default (as defined in the Facilities Agreement) occurs and (y) that all the Major Representations (as defined in the Facilities Agreement) are true in all material respects.

• The Company confirms that no Major Event of Default is continuing or would occur as a result of [Acceding Entity] becoming a Guarantor.

• Solely with respect to the Closing for the Special Condition Property, (i) the Special Conditions shall have been satisfied or waived in writing by the MPT Parties; and (ii) there shall not exist any Major Event of Default under and as defined in the Master Leases.

More Definitions of Major Event of Default

Major Event of Default any Event of Default arising under any of the following provisions (but only insofar as relates to the Certain Funds Loan Parties):

Major Event of Default means an Event of Default arising from any of the following with respect to Xxxxxxxx and the Guarantors only (and not, for the avoidance of doubt, (a) in relation to any other Subsidiary of Borrower or the Target Group or (b) in respect of any obligation to procure any action by any other Subsidiary of Borrower or the Target Group):

Major Event of Default means an Event of Default set forth in any of (I) Section 4(a)(ii), (II) Section 4(a)(iii), (III) Section 4(a)(iv) if such Event of Default is triggered because of the Company's failure to timely pay any Principal amount or Interest due pursuant to the terms of this Note, (IV) Section 4(a)(ix) if such Event of Default is triggered because of the Company's failure to comply with Section 14(k) or (V) Section 4(a)(xv).

Major Event of Default means any event or circumstance constituting an Event of Default that is continuing under:

Major Event of Default has the meaning given to such term in the “Agreed Form Company IFA” as defined in the Commitment Letter (as in effect on the Effective Date).

Major Event of Default has the meaning given to such term in the Interim Facility Agreement;

Major Event of Default means any Event of Default arising under any of the following provisions (but only in so far as relates to the Certain Funds Loan Parties):