Monetary Default Cure Period definition

Monetary Default Cure Period. As defined in Section 3.29(e)(i).
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Monetary Default Cure Period has the meaning set forth in Section 13.03(a). “Non-Monetary Default” has the meaning set forth in Section 13.03(b). “Notice of Conversion” means the form of notice in the form of Exhibit B hereto to be delivered by MGM to the Company indicating MGM’s desire to convert the Convertible Note into membership interests of the Company pursuant to the conditions of Conversion as provided for within Article V of this Agreement. “Notice of Redemption” means the form of notice in the form of Exhibit C hereto to be delivered by the Company to MGM indicating the Company’s desire to redeem some or all of the Convertible Note, pursuant to the conditions of redemption as provided for within Article IV of this Agreement. “Notifying Party” has the meaning set forth in Section 5.04(a). “Officer’s Certificate” shall mean a certificate executed by a manager, the president, chief executive officer or chief financial officer, if any, or equivalent, of the Company in the form of Exhibit D hereto.
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Monetary Default Cure Period shall have the meaning assigned to such term in Section 10(a).
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Examples of Monetary Default Cure Period in a sentence

  • Following the Monetary Default Cure Period, MGM may, with respect to a Monetary Default, by notice to the Company, declare the Convertible Note to be, and the Convertible Note shall thereon become immediately due and payable.

  • During the Monetary Default Cure Period, MGM shall provide reasonable assistance to the Company with any negotiations or discussions that Company shall have with any then existing Senior Lenders.

  • The Company shall have a period of six (6) months from the occurrence of a Monetary Default (“Monetary Default Cure Period”) to cure the Monetary Default (and MGM shall not exercise any of its rights or remedies hereunder, including acceleration), provided, however, MGM may extend the Monetary Default Cure Period at its discretion.

  • At any time during the Monetary Default Cure Period, any then existing Senior Lender shall have the right to cure on behalf of the Company.


More Definitions of Monetary Default Cure Period

Monetary Default Cure Period has the meaning set forth in Section 13.03(a).
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Related to Monetary Default Cure Period

  • 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).

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

  • Senior Nonmonetary Default means the occurrence or existence and continuance of any event of default with respect to any Designated Senior Debt, other than a Senior Payment Default, permitting the holders of such Designated Senior Debt (or a trustee or agent on behalf of the holders thereof) to declare such Designated Senior Debt due and payable prior to the date on which it would otherwise become due and payable. In the event that, notwithstanding the foregoing, the Company shall make any Securities Payment to the Trustee or any Holder prohibited by the foregoing provisions of this Section, and if such fact shall, at or prior to the time of such Securities Payment, have been made known to the Trustee or, as the case may be, such Holder, then and in such event such Securities Payment shall be paid over and delivered forthwith to the Company. The provisions of this Section shall not apply to any Securities Payment with respect to which Section 1203 would be applicable.

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

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

  • Bank Default means (i) the refusal (which has not been retracted) of a Bank to make available its portion of any Borrowing or to fund its portion of any unreimbursed payment under Section 2.03(c) or (ii) a Bank having notified in writing the Borrower and/or the Agent that it does not intend to comply with its obligations under Section 1.01 or Section 2, in the case of either clause (i) or (ii) as a result of any takeover of such Bank by any regulatory authority or agency.

  • 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).

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

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

  • 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.

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

  • 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.

  • 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 Default means any Senior Payment Default or Senior Covenant 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.

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

  • Potential Default means an event which but for the lapse of time or the giving of notice, or both, would constitute an Event of Default.

  • 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.

  • Cure Period means the period specified in this Agreement for curing any breach or default of any provision of this Agreement by the Party responsible for such breach or default and shall:

  • 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);

  • Customer Default has the meaning set out in clause 8.3.

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