Security Event of Default definition

Security Event of Default means, with respect to any Purchased Security, an event of default (however designated) in the Security Indenture. “Security Indenture” shall mean the indenture or other underlying instruments governing the Purchased Security.
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Security Event of Default means an Event of Default under, and as defined in, the Credit Agreement.
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Security Event of Default means (i) the termination of the Procurement Agreement pursuant Article 20.B, 21.A, or 21.B thereof and the failure of Seller to repay the Deposit (or portion thereof) in the amount and within the time period specified in the Procurement Agreement, and (ii) any Obligor fails to observe, perform or comply with any of the provisions or terms contained in any Security Document or shall be in breach of any representation or warranty contained herein and such failure or breach could reasonably be expected to have a material adverse effect on the Collateral, taken as a whole, or the ability or such Obligor to perform its obligations under this Agreement, taken as a whole, or the other Security Documents and such failure or breach shall continue for a period of thirty (30) days (or, if such failure cannot be reasonably cured within such thirty (30) day period but is capable of being cured within ninety (90) days, then for a period of ninety (90) days, provided such Obligor continues to exercise diligence to effect such cure throughout such period) after written notice of such failure has been given by Purchaser to Seller.
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Examples of Security Event of Default in a sentence

  • If a Senior Non Preferred Security Event of Default occurs as set forth in paragraph (i) above, then the Trustee or the holders of at least 25% in outstanding principal amount of the 2023 Floating Rate Notes may institute proceedings for the winding up or dissolution of Banco Santander but may take no further action in respect of such default.

  • If a Debt Security Event of Default shall have occurred and be continuing, the Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by an Act of the Holders of a majority in Liquidation Amount of the Preferred Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).

  • Notwithstanding anything herein contained to the contrary, so long as no Security Event of Default shall have occurred and be continuing, the Obligors will be permitted without restriction to use any cash Collateral (other than cash proceeds from the Insurance Policies, which shall be governed by Section 4.04(e) of this Agreement) and nothing herein shall create any obligation for an Obligor to transfer such cash Collateral to the Secured Party.

  • Upon the occurrence and during the continuation of any Security Event of Default, at the Collateral Agent’s request, the Pledgor shall promptly deliver to the Collateral Agent copies of any and all of the records mentioned above.

  • The Collateral Agent shall have the right, at any time in its discretion and without prior notice to the Pledgor or the Company, following the occurrence and during the continuation of a Security Event of Default, to transfer to or to register in the name of the Collateral Agent or any of its nominees any or all of the Collateral and to exchange certificates or instruments representing or evidencing Collateral for certificates or instruments of smaller or larger denominations.

  • Any such Security Event of Default shall be considered cured or waived for the purposes of this Agreement when it has been cured or waived in accordance with the Credit Agreement, as applicable.

  • Defendant Muzzin contends that her failure to intervene on Plaintiff’s behalf during the attack does not amount to deliberate indifference.

  • If a Senior Non Preferred Debt Security Event of Default occurs as set forth in paragraph (ii) above, then the Trustee or the holders of at least 25% in outstanding principal amount of the 2023 Floating Rate Notes may declare the 2023 Floating Rate Notes immediately due and payable whereupon the 2023 Floating Rate Notes shall, when permitted by applicable Spanish insolvency law, become immediately due and payable at their early termination amount together with all interest (if any) accrued thereon.

  • If, notwithstanding the foregoing, such dividends or distributions shall be paid to any Obligor following the occurrence and during the continuance of a Security Event of Default, the same shall be held by such Obligor in trust for the Secured Party and the other Secured Party, segregated from the other funds of such Obligor, and promptly turned over to the Secured Party for deposit into the aforesaid account.

  • Upon the occurrence and during the continuation of a Security Event of Default, any action or proceeding to enforce this Agreement may be taken by the Collateral Agent either in the Pledgor’s name or in the Collateral Agent’s name, as the Collateral Agent may deem necessary.


More Definitions of Security Event of Default

Security Event of Default means any Event of Default or Letter of Credit Event of Default or IRB Event of Default.
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Security Event of Default means (a) an Event of Default pursuant to Section 8.1(a) of the GSPA has occurred and is continuing (which shall include the failure to satisfy any payment obligations of Grantor owing to Secured Party and its Affiliates, and their respective directors, officers, partners, shareholders, employees, agents, representatives, co-venturers, successors, permitted assigns, contractors or servants pursuant to the GSPA or the Site Lease), (b) an Event of Default as defined in the Site Lease has occurred and is continuing (which shall include the failure to make any payment), and/or (c) Grantor has breached a material covenant hereunder and failed to cure within thirty (30) days after receipt of written notice from Secured Party concerning such breach.
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Security Event of Default means, with respect to any Purchased Security, an event of default (however designated) in the Security Indenture.
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Related to Security Event of Default

  • 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).

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

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

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

  • Event of Default has the meaning specified in Section 8.01.

  • Owner Event of Default shall have the meaning set forth in Section 18.3.

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

  • 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)).

  • 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.

  • 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.

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

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

  • 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:

  • Specified Event of Default means an Event of Default under Section 7.01(a), (b), (h) or (i).

  • 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.

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

  • Senior Event of Default means an Event of Default under the Senior Loan Documents.

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Security Event means an immediately reportable subset of security incidents which incident would include: a. A suspected penetration of Contractor’s information system of which the Contractor becomes aware of but for which it is not able to verify immediately upon becoming aware of the suspected incident that PHI was not accessed, stolen, used, disclosed, modified, or destroyed; b. Any indication, evidence, or other security documentation that the Contractor’s network resources, including, but not limited to, software, network routers, firewalls, database and application servers, intrusion detection systems or other security appliances, may have been damaged, modified, taken over by proxy, or otherwise compromised, for which Contractor cannot refute the indication of the time the Contractor became aware of such indication; c. A breach of the security of the Contractor’s information system(s) by unauthorized acquisition, including, but not limited to, access to or use, disclosure, modification or destruction, of unencrypted computerized data and which incident materially compromises the security, confidentiality, or integrity of the PHI; and or, d. The unauthorized acquisition, including but not limited to access to or use, disclosure, modification or destruction, of unencrypted PHI or other confidential information of the County by an employee or authorized user of Contractor’s system(s) which materially compromises the security, confidentiality, or integrity of PHI or other confidential information of the County. If data acquired (including but not limited to access to or use, disclosure, modification or destruction of such data) is in encrypted format but the decryption key which would allow the decoding of the data is also taken, the parties shall treat the acquisition as a breach for purposes of determining appropriate response.

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

  • Unmatured Event of Default means any event which, with the giving of notice, the passage of time or both, would constitute an Event of Default.

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

  • Insurance Agreement Event of Default means an "Event of Default" as defined in the Insurance Agreement.