Pending Default definition

Pending Default is defined in Section 2.3.
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Pending Default means any event or condition which, with the giving of notice, lapse of time or upon a declaration or determination being made (or any combination thereof), would constitute a Default.
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Pending Default is defined in Section 1.3.
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Examples of Pending Default in a sentence

  • No event has occurred and no condition exists which would constitute a Pending Default or an Event of Default pursuant to this Agreement.

  • No event has occurred and no condition exists which constitutes a Pending Default or an Event of Default pursuant to this Agreement.

  • Unless Design-Builder timely delivers one of the two foregoing responses to XXXX’s Notice of Pending Default, Design-Builder consents to UGAA’s declaration of default and termination of this Agreement at the election of UGAA is presumed.

  • Upon request of Lender at any time after the occurrence and during the continuance of a Pending Default or an Event of Default, each Borrower agrees to notify such Account Debtors and indicate on all xxxxxxxx that the accounts are payable directly to Lender at an address provided by Lender.

  • Lender shall have no obligation to advance or readvance any sums pursuant to the Loan at any time when a set of facts or circumstances exists, which, upon the giving of notice, the lapse of time, or both, would constitute an Event of Default under this Agreement (a "Pending Default").

  • Lender, at any time after the occurrence and during the continuance of a Pending Default or an Event of Default, may notify Account Debtors that Collateral has been assigned to Lender and shall be paid to Lender through the applicable depositary account.

  • The Borrower shall have complied and shall then be in compliance with all the terms, covenants and conditions of this Agreement which are binding upon it, and no Event of Default or Pending Default shall have occurred and be continuing on such date or after giving effect to the advances requested to be made.

  • Upon the occurrence and during the continuance of a Pending Default or Event of Default, Lender may notify any securities intermediary to liquidate the applicable securities account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Cash Collateral Account or to any account established by Lender.

  • Lender shall have the right, in its sole good faith discretion, at any time to conduct or to employ one or more outside audit firms or other professionals to conduct audits of any Borrower and appraisals with respect to the Collateral and business; provided, however, that if no Pending Default or Event of Default shall have occurred hereunder, such appraisals or audits shall be conducted no more frequently than once a quarter.

  • In connection with any audits performed after the occurrence, and during the continuance, of a Pending Default, the Borrower will pay to the Bank a fee equal to $650.00 per day per auditor, in addition to all out-of-pocket expenses of such auditors.


More Definitions of Pending Default

Pending Default is defined in Section 1.2. "Premises" is defined in Section 4.11. "Release Period" is defined in Section 3.7. "Release Request" is defined in Section 3.7. "Unencumbered Securities" is defined in Section 5.4. "Unencumbered Securities Cash Flow" is defined in Section 5.9.
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Pending Default is defined in Section 1.2.
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Pending Default means a set of facts or circumstances that, upon the giving of notice, the lapse of time, or both, would constitute an Event of Default under this Agreement.
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Pending Default is defined in Section 2.4 hereof.
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Related to Pending Default

  • Funding Default as defined in Section 2.22.

  • Reporting Default means a Default described in Section 6.01(d).

  • Financing Default means an event which would constitute (or with notice or lapse of time or both would constitute) an event of default (which event of default has not been cured) under or would otherwise violate or breach (i) any financing arrangement of the Company or any of its Subsidiaries in effect as of the time of the aforementioned event, and any extensions, renewals, refinancings or refundings thereof in whole or in part; and (ii) any provision of the Company's or any of its Subsidiary's constitutional documents.

  • Existing Defaults means, collectively, the Events of Default identified on Exhibit A hereto.

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

  • Servicing Default The meaning assigned in Section 6.01 of the Servicing Agreement.

  • Default means any event that is, or with the passage of time or the giving of notice or both would be, an Event of Default.

  • PTC Event of Default Means any failure to pay within 10 Business Days of the due date thereof: (i) the outstanding Pool Balance on the Final Legal Distribution Date or (ii) interest due on the Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or Drawings (as defined in the Intercreditor Agreement), or a withdrawal or withdrawals pursuant to Section 3.6(f) of the Intercreditor Agreement, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee).

  • 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:

  • Accumulated Funding Deficiency as defined in Section 302 of ERISA.

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

  • 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.

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

  • 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)).

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of 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) of this Note.

  • 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);

  • Specified Defaults means, collectively, the Existing Defaults and the Anticipated Defaults.

  • 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.

  • Specified Default means a Default under Section 8.01(a), (f) or (g).

  • 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.

  • Potential Default means any event or condition which with notice or passage of time, or both, would constitute an Event of Default.

  • 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.

  • 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.