Material Potential Default definition

Material Potential Default means a Potential Default under Section 11.01(a) or Section 11.01(h).
Sample 1Sample 2Sample 3
Material Potential Default means any Potential Default which involves the nonpayment of money or which, in Landlord's reasonable judgment, threatens or impairs the safety, security, structural integrity, operating systems or value of the Operating Project, (iii) "MATERIAL DEFAULT" means any Material Event of Default or Material Potential Default, and (iv) "POTENTIAL DEFAULT" means an event with respect to which a cure period under SECTION 16.1 has commenced and such event remains uncured.
Sample 1
Material Potential Default has the meaning set forth in Section 7.3.
Sample 1

Examples of Material Potential Default in a sentence

  • Upon the effectiveness of this Amendment, each of the Borrowers hereby reaffirms, in all material respects, the representations and warranties made by it in the Credit Agreement to the extent the same are not amended hereby (except to the extent of changes in facts or circumstances that have been disclosed to the Administrative Agent and do not constitute an Event of Default or a Material Potential Default or to the extent such representations and warranties relate to an earlier or other specific date).

  • Any amount determined to be paid by any Borrower in error pursuant to this Section 4 shall be, if no Event of Default or Material Potential Default has occurred and is continuing, promptly refunded to such Borrower, or applied to amounts owing by such Borrower hereunder, as such Borrower may elect.

  • No event has occurred and is continuing which constitutes an Event of Default or a Material Potential Default.

  • None of the Borrowers shall make, pay or declare any Distribution (as defined below) except as permitted pursuant to its Constituent Documents or Permitted RIC Distributions; provided, however, that during the continuance of an Event of Default or, to the knowledge of any such Credit Party, a Material Potential Default, no Distributions (other than RIC Distributions) shall be permitted to be made, paid or declared if there are any Obligations outstanding hereunder.

  • None of the Borrowers shall make, pay or declare any Permitted RIC Distribution during the continuance of an Event of Default under Section 10.1(a), (i), or (j) or, to the knowledge of any such Credit Party, a Material Potential Default.

  • Each of the Borrowers hereby represents and warrants (each as to itself only) that (i) this Amendment constitutes a legal, valid and binding obligation of such Borrower, enforceable against it in accordance with its terms, subject to Debtor Relief Laws and general equitable principles (whether considered a proceeding in equity or at law), and (ii) upon the Effective Date, no Event of Default or, to such Borrower’s knowledge, Material Potential Default shall exist.


More Definitions of Material Potential Default

Material Potential Default means a Potential Default under Section 11.01(a) or Section 11.01(h). LEGAL_US_E # 163726163.4
Sample 1
Material Potential Default means any condition, act or event which, with the giving of notice or the lapse of time or both, would become an Event of Default specified in Section 10.1(a)(ii), 10.1(i), or 10.1(r).
Sample 1

Related to Material Potential Default

  • Material Default means a material breach of this Framework Agreement and/or, breach by the Supplier of any of the following Clauses: Clause 8 (Warranties and Representations), Clause 9 (Prevention of Bribery and Corruption), Clause 13 (Statutory Requirements and Standards), Clause 14 (Non-Discrimination), Clause 15 (Provision of Management Information), Clause 16 (Management Charge), Clause 17 (Records and Audit Access), Clause 22 (Data Protection), Clause 23 (Freedom of Information) and Clause 31 (Transfer & Sub-contracting);

  • 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.

  • 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:

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

  • 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.

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

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

  • Financial Default means the total cessation or partial suspension of operations due to insolvency, with or without the filing of a bankruptcy petition by a tour operator, Cruise line, or airline.

  • Actionable Default means (i) an Event of Default under and as defined by the Credit Facility Agreement or (ii) an event of default under the Public Indenture.

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

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • 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).

  • 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.

  • 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).

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

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

  • Material Event or “Material Information” shall mean such event or information as set out in the Schedule or as may be determined in terms of Clause 3 of the Policy. In the Policy, the words, “material” and “materiality” shall be construed accordingly.

  • 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.

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

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

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

  • Senior Event of Default means an Event of Default under the Senior Loan Documents.

  • O & M Default means any default on the part of the Power Producer for a continuous period of ninety (90) days to (i) operate and/or (ii) maintain (in accordance with Prudent Utility Practices), the Project at all times.

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

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

  • Potential Issuer Event of Default means any condition, event or act which, with the lapse of time and/or the issue, making or giving of any notice, certification, declaration, demand, determination and/or request and/or the taking of any similar action and/or the fulfilment of any similar condition, would constitute an Issuer Event of Default;