Material Event of Default definition

Material Event of Default means an Event of Default under Section 7.01(a), (f), (g), (h)(ii) or (n).

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

Material Event of Default means any Event of Default arising under Section 10.01(a), 10.01(b) (solely with respect to a default related to Section 8.01, 8.20 or 9.13), 10.01(f), 10.01(i), 10.01(j), 10.01(n) or 10.01(o).

Examples of Material Event of Default in a sentence

If at any time while the Restructuring Committee exists, the Material Event of Default has been cured or waived or the Termination Date occurs, the Restructuring Committee shall be dissolved, the terms of office of the Designated Directors shall expire immediately and the remaining directors shall constitute the directors of the Borrower Board, provided that, such individuals shall continue to serve in their capacities as Board Observers.
If, at the time of a Material Event of Default, there are less than two Board Observers then serving, the Board Observer then serving (if any) shall be elected to fill one of the vacancies created by such increase, and upon the appointment and qualification of such additional Board Observers such that the total number of Board Observers appointed at any time is two, the additionally appointed Board Observers shall automatically be elected to the Board to fill the remaining vacancy or vacancies.
Any such Disposition of CRE Loans or CRE Properties after a Material Event of Default Disposition Trigger shall constitute a “Material Event of Default Asset Sale”.

More Definitions of Material Event of Default

Material Event of Default means an Event of Default under the Senior Facilities Agreement in respect of clauses 26.3 (Breach of other obligations) (but only to the extent that the Senior Agent, acting on the instructions of the Majority Senior Lenders (acting reasonably), determines that the Event of Default has a Material Adverse Effect), 26.6 (Insolvency), 26.7 (Insolvency proceedings), 26.9 (Execution or distress), 26.10 (Similar events), 26.11 (Unlawfulness) or 26.18 (Acceleration Following Financial Ratio Breach) of the Senior Facilities Agreement and/or any equivalent Pari Passu Debt Event of Default and/or any equivalent Senior Secured Notes Event of Default.

Material Event of Default means an Event of Default that materially adversely affects the health, welfare and/or safety of the tenants of the development that is continuing after the Extraordinary Additional Cure Period has passed.

Material Event of Default means any Event of Default arising under Sections 8.1(a) or (b), or arising under Section 8.1(d) as a result of the Borrower failing to observe or perform any covenant or agreement contained in Articles VI or VII.

Material Event of Default shall have the meaning ascribed to such term as set forth in Section 16.3.3.

Material Event of Default means (i) an Event of Default described in clause (i), (iii), (iv), (v) and (vi) of the definition thereof or (ii) an Event of Default described in clause (ii) of the definition thereof if the effect thereof has resulted, or is reasonably likely to result, in a material adverse effect on the value or utility of the Leased Premises or on Landlord’s title in the Leased Premises or in the Basic Rent or Additional Rent, or in any material liability on the part of Landlord, or in the unavailability of any insurance coverage required under this Lease.

Material Event of Default means any Event of Default described in any of the following Sections: 8.

Material Event of Default means any Event of Default described in subsections (a), (b), (f), (h), and (i) of Section 8.1 and any Event of Default resulting from a default in the performance of Sections 6.1, 6.18, 7.2, or 7.