Secured Debt Default definition

Secured Debt Default means any event or condition which, under the terms of any credit agreement, indenture or other agreement governing any Series of Secured Debt causes, or permits holders of Secured Debt outstanding thereunder (with or without the giving of notice or lapse of time, or both, and whether or not notice has been given or time has lapsed) to cause, the Secured Debt outstanding thereunder to become immediately due and payable.

Secured Debt Default means, with respect to any Series of Secured Debt, any event or condition which, under the terms of any credit agreement, indenture, loan agreement, note agreement, promissory note, Hedge Agreement or other agreement or instrument evidencing or governing such Series of Secured Debt, causes, or permits holders of Secured Debt outstanding thereunder to cause, the Secured Debt outstanding thereunder to become immediately due and payable. For the avoidance of doubt, an “Event of Default” (or any other defined term having a similar purpose) (as defined in the Credit Agreement) shall constitute a Secured Debt Default with respect to the Series of Secured Debt evidenced by the Credit Agreement.

Secured Debt Default means the occurrence and continuance of any matured “Event of Default” or similar term as defined in any of (i) the Credit Agreement, (ii) the Indenture or (iii) any other Secured Debt Document, or any other event or condition that, under the terms of any credit agreement, indenture or other agreement governing any Series of Secured Debt causes, or permits holders of Secured Debt or Dutch Parallel Debt Obligations outstanding thereunder to cause, the Secured Debt or Dutch Parallel Debt Obligations outstanding thereunder to become immediately due and payable, in each case, after all applicable grace periods have expired.

Examples of Secured Debt Default in a sentence

• The Collateral Trustee will not be required to inquire as to the occurrence or absence of any Secured Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt Default unless and until it is directed by an Act of Required Secured Parties.

• The Collateral Trustee will not be required to inquire as to the occurrence or absence of any Secured Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt Default unless and until it is directed by an Act of Required Debtholders.

• Upon any such resignation or removal, a successor Collateral Agent may be appointed by an Act of Required Secured Debtholders; provided that, so long as no Secured Debt Default has occurred and is continuing, such successor Collateral Agent shall be reasonably acceptable to the Company.

• Upon any such resignation or removal, a successor Collateral Trustee may be appointed by an Act of Required First Lien Debtholders; provided that, so long as no Secured Debt Default has occurred and is continuing, such successor Collateral Trustee shall be reasonably acceptable to the Company.

• The Collateral Agent will not be required to inquire as to the occurrence or absence of any Secured Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt Default unless and until it is directed by an Act of Required Secured Parties.

More Definitions of Secured Debt Default

Secured Debt Default has the meaning as set forth in the Collateral Trust Agreement.

Secured Debt Default means, with respect to any Series of First Lien Debt, any event or condition which, under the terms of any credit agreement, indenture, loan agreement, note agreement, promissory note, hedge agreement or other agreement or instrument evidencing or governing such Series of First Lien Debt, causes, or permits holders of First Lien Debt outstanding thereunder to cause, the First Lien Debt outstanding thereunder to become immediately due and payable. For the avoidance of doubt, (i) an “Event of Default” (or any other defined term having a similar purpose) (as defined in the Existing Credit Agreement) and (ii) an “Event of Default” (or any other defined term having a similar purpose) (as defined in the Existing Indenture) shall, in each case, constitute a Secured Debt Default with respect to the Series of First Lien Debt evidenced by the Existing Credit Agreement or the Existing Indenture, as the case may be.

Secured Debt Default means a Parity Lien Default or a Priority Lien Default.

Secured Debt Default means, with respect to any Series of Secured Debt, any event or condition which, under the terms of any credit agreement, indenture, loan agreement, note agreement, promissory note, Hedge Agreement or other agreement or instrument evidencing or governing such Series of Secured Debt, causes, or permits holders of Secured Debt outstanding thereunder to cause, the Secured Debt outstanding thereunder to become immediately due and payable. For the avoidance of doubt, an “Event of Default” (as defined in the Credit Agreement) shall constitute a Secured Debt Default with respect to the Series of Secured Debt evidenced by the Credit Agreement.

Secured Debt Default means, with respect to any Series of Secured Debt, any event or condition which, under the terms of any credit agreement, indenture, loan agreement, note agreement, promissory note, hedge agreement or other agreement or instrument governing such Series of Secured Debt, causes, or permits holders of Secured Debt outstanding thereunder to cause, the Secured Debt outstanding thereunder to become immediately due and payable or, in the case of a Pari Passu Lien Hedge Agreement, causes, or permits the Secured Party thereunder to cause, such hedging agreement (and the transactions thereunder) to terminate and a termination amount to be determined and become due and payable as a result of such termination.

Secured Debt Default means a Credit Facility Default, Senior Secured Notes Default or a Pari Passu Debt Default.

Secured Debt Default means, with respect to any Series of Credit Agreement Debt, any event or condition which, under the terms of any Credit Agreement Document, causes, or permits holders of Pari Passu Guaranteed Obligations outstanding thereunder to cause, the Pari Passu Guaranteed Obligations outstanding thereunder to become immediately (after giving effect to the requisite notices and expiration of all applicable grace periods) due and payable. For the avoidance of doubt, an “Event of Default” (or any other defined term having a similar purpose) (as defined in any Credit Agreement) shall, in each case, constitute a Secured Debt Default with respect to the Series of Credit Agreement Debt evidenced by each other Credit Agreement.