Payment or Bankruptcy Event of Default definition

Payment or Bankruptcy Event of Default means an Event of Default under paragraph (a), (b), (h) or (i) of Section 7.01.
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Payment or Bankruptcy Event of Default means an Event of Default pursuant to clause (a), (b), (h), (i) or (j) of Section 8.01 (limited in the case of such clause (h), (i) or (j) to the Borrower).
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Payment or Bankruptcy Event of Default means an Event of Default under Sections 10.01(a), 10.01(b), 10.01(h), 10.01(i) or 10.01(j).
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Examples of Payment or Bankruptcy Event of Default in a sentence

  • If the Person serving as the Administrative Agent is a Defaulting Lender pursuant to clause (d) of the definition thereof, the Required Lenders may, to the extent permitted by applicable law, by notice in writing to the Company and such Person remove such Person as the Administrative Agent and, subject to the consent of the Company (not to be unreasonably withheld, conditioned or delayed) so long as no Payment or Bankruptcy Event of Default shall have occurred and be continuing, appoint a successor.

  • Upon receipt of any such notice of resignation, the Company shall have the right, subject to the consent of the Required Lenders (with Lenders hereby agreeing to act promptly with respect to any request by the Company for such consent), unless a Payment or Bankruptcy Event of Default shall have occurred and be continuing, in which case the Required Lenders shall have the right, to appoint a successor.

  • Upon receipt of any such notice of resignation, the Company shall have the right, subject to the consent of the Required Lenders (with Xxxxxxx hereby agreeing to act promptly with respect to any request by the Company for such consent), unless a Payment or Bankruptcy Event of Default shall have occurred and be continuing, in which case the Required Lenders shall have the right, to appoint a successor.


More Definitions of Payment or Bankruptcy Event of Default

Payment or Bankruptcy Event of Default means an Event of Default arising under Section 8.01(a), Section 8.01(b), Section 8.01(g), or Section 8.01(h).
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Payment or Bankruptcy Event of Default means an Event of Default pursuant to clause (a), (b), (h), (i) or (j) ofSection 8.01 (limited in the case of such clause (h), (i) or (j) to the Borrower).
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Related to Payment or Bankruptcy Event of Default

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

  • 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).

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Event of Default has the meaning specified in Section 8.01.

  • Specified Event of Default means an Event of Default under Section 7.01(a), (b), (h) or (i).

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

  • 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:

  • Bankruptcy Event means, with respect to any Person, such Person becomes the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business appointed for it, or, in the good faith determination of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, provided, further, that such ownership interest does not result in or provide such Person with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person.

  • Owner Event of Default shall have the meaning set forth in Section 18.3.

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

  • 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.

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

  • 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.

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • 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.

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

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

  • Issuer Event of Default means the occurrence of any of the following events:

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

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

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

  • Servicer Event of Default One or more of the events described in Section 7.01.

  • Event of Bankruptcy shall be deemed to have occurred with respect to a Person if either:

  • Bankruptcy or Default means the total cessation of operations due to insolvency, with or without the filing of a bankruptcy petition by an airline, or cruise line, tour operator or other travel provider provided the Bankruptcy or Default occurs more than 14 days following Your Effective Date for the Trip Cancellation Benefits. There is no coverage for the Bankruptcy or Default of any person, organization, agency or firm from whom You purchased Travel Arrangements supplied by others.