Pledge Default definition

Pledge Default has the meaning given that term in Section 11.1.
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Pledge Default has the meaning set forth in Section 3.08.
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Pledge Default as used in this Agreement shall mean the failure of the parties to close the Acquisition as a result of ATI's failure to proceed with the Acquisition or breach of its obligations owed LTDN under the amended letter of intent or the subsequent formal agreement contemplated between the parties, or the failure of ATI to pay the Notes following the occurrence of any Event of Default under and as defined in the Notes and the declaration by LTDN of all outstanding obligations thereunder to be due and payable with respect to such Event of Default in accordance with the terms and conditions of the Notes. For a Pledge Default to exist prior to the consummation of the Acquisition, LTDN, at the time thereof, has to have stood ready, willing and able to proceed with, or to consummate, the Acquisition but for the Pledge Default.
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Examples of Pledge Default in a sentence

  • Because the Merger would be prohibited under Section 5.01(3) of the Indenture if there were a continuing Default or Event of Default immediately prior to or after giving effect to the Merger, the Investment Default and the Pledge Default must be waived before Chatwins and Reunion can proceed with the Merger.

  • As of the date hereof, Chatwins has not received such notice from the Trustee or the Securityholders regarding either the Investment Default or the Pledge Default.

  • For a Pledge Default to exist prior to the consummation of the Acquisition, LTDN, at the time thereof, has to have stood ready, willing and able to proceed with, or to consummate, the Acquisition but for the Pledge Default.

  • A breach of the Pledge Agreement constitutes a Default under Section 6.01(4) of the Indenture (the "Pledge Default").


More Definitions of Pledge Default

Pledge Default has the meaning set forth in Section 3.08. “Preemptive Investor Portion” means, with respect to any Preemptive Holder, that proportion that the Class S Ordinary Units then held by such Preemptive Holder (including all Class S Ordinary Units then issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of any other Equity Securities then held by such Preemptive Holder) bears to the total Class S Ordinary Units of the Partnership then outstanding (assuming full conversion and/or exercise, as applicable, of all other Equity Securities then outstanding). “Preemptive Holder” has the meaning set forth in Section 7.11(a). “Preemptive Rights Notice” has the meaning set forth in Section 7.11(b). “Preferred Series A Subclass 0 Unit Accounts” has the meaning set forth in Section 7.01(a). “Preferred Series A Subclass 1 Unit Accounts” has the meaning set forth in Section 7.01(a). “Preferred Series A Subclass 2 Unit Accounts” has the meaning set forth in Section 7.01(a). - 12 - 737868395
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Pledge Default shall have the meaning set forth in Section 13.01(d).
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Pledge Default means (i) an “Event of Default” (as defined in the Pledge and Security Agreement) shall have occurred or (ii) CCRT shall fail to comply with its obligations under Section 4.02(c) of the Pledge and Security Agreement. [END OF ARTICLE XXXX]
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Pledge Default means the exercise by any creditor of Parent of any rights to Beneficial Ownership of the Seller Shares subject to the Parent Voting Agreement, to foreclose on such Seller Shares owned by Parent or to transfer or cause the transfer of such Seller Shares after foreclosure, including without limitation, the exercise of any rights (x) under Section 8 of the Xxxxxxx Pledge by the “Pledgee” thereunder or (y) under Section 8 of the Laurus Pledge by the “Pledgee” thereunder; provided, that a Pledge Default shall be deemed not to have occurred if, at all times following such exercise of rights, each Beneficial Owner of any Seller Share or Seller Shares subject to the Parent Voting Agreement shall have delivered to and for the benefit of Purchaser a binding and irrevocable written undertaking agreeing to be bound (without giving effect to any qualifications or limitations related to the Xxxxxxx Pledge or the Laurus Pledge set forth in such Parent Voting Agreement) by all terms and provisions applicable to Parent pursuant to the Parent Voting Agreement and restating, as of the date of the execution and delivery of such undertaking, the representations and warranties set forth therein (without giving effect to any qualifications or limitations related to the Xxxxxxx Pledge or the Laurus Pledge set forth in such Parent Voting Agreement), and which undertaking shall be otherwise in a form and substance reasonably satisfactory to Purchaser.
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Pledge Default means the occurrence of any default under the Promissory Note or under Section 6 of the Purchase Agreement, which default is not remedied within twenty (20) days of Secured Party's written notice to Pledgor of such occurrence.
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Related to Pledge Default

  • Indenture Default means any condition, circumstance, act or event that, with the giving of notice, the lapse of time or both, would constitute an Indenture Event of Default.

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

  • 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.

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

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

  • 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.

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.

  • 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).

  • 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).

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

  • 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.

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

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

  • Credit Default Swap means any credit default swap entered into as a means to (i) invest in bonds, notes, loans, debentures or securities on a leveraged basis or (ii) hedge the default risk of bonds, notes, loans, debentures or securities.

  • Bond Event of Default means the occurrence of any of the following (or such event or condition which with notice or lapse of time or both would constitute any of the following):

  • 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.

  • 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.

  • 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.

  • 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.

  • Actionable Default means the occurrence of any of the following:

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

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

  • Debenture Event of Default means an "Event of Default" as defined in the Indenture.

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

  • Lender Default means (a) the refusal or failure (which has not been cured) of a Lender to make available its portion of any Borrowing or to fund its portion of any Unpaid Drawing under Section 3.4 that it is required to make hereunder, (b) a Lender having notified the Administrative Agent and/or the Borrower that it does not intend to comply with its funding obligations under this Agreement or has made a public statement to that effect with respect to its funding obligations under this Agreement, (c) a Lender has failed to confirm (within one Business Day after a request for such confirmation is received by such Lender) in a manner reasonably satisfactory to the Administrative Agent, the Borrower and, in the case of a Revolving Credit Lender, each Revolving Letter of Credit Issuer that it will comply with its funding obligations under this Agreement, (d) a Lender being deemed insolvent or becoming the subject of a bankruptcy or insolvency proceeding or has admitted in writing that it is insolvent; provided that a Lender Default shall not be deemed to have occurred solely by virtue of the ownership or acquisition of any Stock in the applicable Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide the applicable Lender 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 the applicable Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with the applicable Lender, or (e) a Lender that has, or has a direct or indirect parent company that has, become the subject of a Bail-In Action.