Pending Event of Default definition

Pending Event of Default means an event which would constitute an Event of Default hereunder, except for satisfaction of any requirement for giving of notice, lapse of time, or both, or other condition subsequent.

Pending Event of Default means an event which, with giving of notice, lapse of time, or both, or subject to any other condition subsequent to such event, would constitute an Event of Default.

Pending Event of Default means an event which, but for the requirement for the giving of notice, lapse of time, or both, or but for the satisfaction of any other condition subsequent to that event, would constitute an “Event of Default”.

Examples of Pending Event of Default in a sentence

• Promptly notify the Agent of any Event of Default or Pending Event of Default that would apply to it or to any Obligor of which it becomes aware.

• Neither any Event of Default nor any Pending Event of Default has occurred and is continuing.

• The Agent may also assume that any representation made by a Borrower is true and that no Event of Default or Pending Event of Default has occurred unless the officers or employees of the Lender acting as Agent, acting in their capacity as officers or employees responsible for such Borrower’s account, have actual knowledge to the contrary or have received notice to the contrary from any other party to this Agreement.

• The Agent will not be deemed to have knowledge or notice of the occurrence of any Event of Default or Pending Event of Default (other than the non-payment of any principal, interest or other amount to the extent the same is required to be paid to the Agent for the account of the Lenders) unless the Agent has received notice from a Lender or a Borrower specifying such Event of Default or Pending Event of Default and stating that such notice is given pursuant to this Agreement.

• No Pending Event of Default or Event of Default has occurred hereunder and is continuing.

• The Obligors acknowledge and agree that the Existing Defaults have not been waived and that this Agreement shall not constitute an amendment, waiver, consent or release with respect to any provision of the Credit Documents, a waiver of any breach of representation and warranty, breach of covenant, or any Pending Event of Default or Event of Default thereunder, or a waiver or release of the Agent’s, the Collateral Agent’s or any Lender’s rights or remedies, all of which are expressly reserved.

• The Borrowers acknowledge and confirm that except as expressly set out in this Agreement, none of the terms contained in this Agreement shall operate or be construed as a waiver of any of the provisions of the Credit Documents or any Event of Default or Pending Event of Default.

• If a Borrower has paid over or remitted an amount on account of Taxes pursuant to the foregoing provision and the amount so paid over or remitted is subsequently refunded to such Lender, in whole or in part, such Lender will remit, provided there is then no Pending Event of Default or Event of Default and subject to the set off rights of the Lenders, such amount refunded to such Borrower.

• If an Event of Default or a Pending Event of Default has occurred and is continuing, the Canadian Borrower will pay all reasonable expenses incurred by such representatives in order to visit a Borrower’s premises or attend at its and each other Obligor’s principal office, as applicable, for such purposes.

• The Agent may also assume that any representation made by the Borrower is true and that no Event of Default or Pending Event of Default has occurred unless the officers or employees of the Lender acting as Agent, acting in their capacity as officers or employees responsible for the Borrower’s account, have actual knowledge to the contrary or have received notice to the contrary from any other party to this Agreement.

More Definitions of Pending Event of Default

Pending Event of Default means an event which would constitute an Event of Default hereunder, except for satisfaction of any requirement for giving of notice, lapse of time, or both, or any other condition subsequent to such event. Without limiting the foregoing, it shall be a Pending Event of Default if there are objectively ascertainable and measurable grounds to warrant a finding by the Majority Lenders, acting reasonably, that CHC will not be in compliance with the financial covenants contained in Section 10.2 at the end of its current fiscal quarter, or was not in compliance with those covenants at the end of its immediately preceding fiscal quarter if it has not delivered its Reporting Certificate for that quarter.

Pending Event of Default means an event which would constitute an Event of Default hereunder, alone or subject to the giving of notice, passing of time, failure to cure or any other condition subsequent;

Pending Event of Default means an event that would constitute an Event of Default but for satisfaction of any requirement for the giving of notice, lapse of time, failure to cure and/or any other condition subsequent to the event. Without limiting the foregoing, it shall be a Pending Event of Default if there are reasonable grounds to believe that the Borrower and/or the Obligors, as applicable, will not be in compliance with all covenants contained in Section 7.1 at the end of the current fiscal quarter or were not in compliance with those covenants at the end of the immediately preceding fiscal quarter if the Borrower has not yet delivered its certificate under Section 7.3(c) for that quarter.

Pending Event of Default means any event or condition which exists, that with the giving of notice, lapse of time or both, or upon a declaration or determination being made in accordance with Article 11 (or any combination thereof) would constitute an “Event of Default”.

Pending Event of Default means an event which, but for the requirement for the giving of notice, lapse of time, or both, or but for the satisfaction of any other condition subsequent to such event, would constitute an “Event of Default”. “ Permitted Asset Dispositions ” means Dispositions by an Obligor of: (a) tangible personal property in the normal course of its Business for fair market value and on customary trade terms; (b) any Property pursuant to a Designated Disposition; (c) tangible personal property other than pursuant to clauses (a), (b) or (d) hereof where the value of all such Property Disposed in any Fiscal Year pursuant to this clause (c) does not exceed in the aggregate [Dollar Amount Redacted] ; (d) tangible or intangible personal property to any other Obligor; (e) Billed Accounts Receivable and Sold Unbilled Accounts Receivable under the Customer Contracts to LDCs in accordance with the LDC Agreements; (f) all of the shares or equity interests in, or all or substantially all of the Property of, EdgePower Inc. (collectively, the “ EdgePower Property ”) so long as the following conditions are satisfied: (i) no Pending Event of Default or Event of Default has occurred and is continuing at the time of such Disposition or will arise as a result of the implementation of any of the transactions contemplated by such Disposition; (ii) the Borrower and the Restricted Subsidiaries shall have received all necessary consents and approvals of any Governmental Authorities and other third parties (including the Priority Suppliers (as defined in the Senior Credit Agreement)) required for the Borrower and the Restricted Subsidiaries to consummate such Disposition and release of the Security over the shares, equity interests and Property of EdgePower Inc.; and (iii) such Disposition will be on Arm’s Length terms, or (g) intangible personal property, other than pursuant to clauses (d) and (e) hereof, in the normal course of its business for fair market value where the value of all such intangible property disposed in any Fiscal Year by all Obligors does not exceed [Dollar Amount Redacted] in the aggregate.