Second Lien Payment Default definition

Second Lien Payment Default means any “Event of Default” as defined in the Second Lien Documents resulting from the failure of the Company or the Second Lien Guarantors to pay, when due, any principal, premium, if any, interest, fees or other monetary obligations under the Second Lien Documents.
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Second Lien Payment Default means any non-payment Second Lien Event of Default under any Second Lien Finance Document other than in respect of an amount (a) not constituting principal, interest or fees and (b) not exceeding £250,000 (or its equivalent in other currencies).
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Second Lien Payment Default means a Second Lien Default under Section 8.01(a) of the Second Lien Credit Agreement as in effect on the date hereof.
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Examples of Second Lien Payment Default in a sentence

  • In the event that such Second Lien Payment Default shall be so cured, the rights of the Second Lien Creditors in respect of such Second Lien Payment Default shall cease until the occurrence of any other Second Lien Payment Default.

  • The First Lien Agents shall have the right, but not the obligation, to cure a Second Lien Payment Default at any time during the 180-day period provided for in clause (a) of the definition of Standstill Period in Section 1 or thereafter with the prior written consent of the Second Lien Agent.

  • Senior Unsecured Liabilities) to 8.5 (Effect of Senior Unsecured Payment Stop Notice, Senior Secured Payment Default or Second Lien Payment Default) even if its obligation to make that Payment is restricted at any time by the terms of any of those Clauses.

  • The First Lien Agent shall have the right, but not the obligation, to cure a Second Lien Payment Default at any time during the 180-day period provided for in clause (a) of the definition of Standstill Period in Section 1 or thereafter with the prior written consent of the Second Lien Agent.


More Definitions of Second Lien Payment Default

Second Lien Payment Default means any Second Lien Loan Payment Default or any Second Lien Notes Payment Default;
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