Senior Loan Event of Default definition

Senior Loan Event of Default means the occurrence of a default or other event under the Senior Loan Documents that, continues following such notice, curative or grace periods in the Senior Loan Documents, that results or, at the election of the Senior Lender or any other Person may result in, acceleration of the Senior Loan, foreclosure in respect of any collateral for the Senior Loan, the exercise of any remedies under the Senior Loan Documents including trustee’s sale, foreclosure, Uniform Commercial Code sale, the appointment of a receiver, or other remedies.
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Senior Loan Event of Default means an Event of Default, as defined in the First Lien Credit Agreement and the Second Lien Credit Agreement
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Senior Loan Event of Default means an Event of Default (as defined in the Senior Loan Agreement) under the Senior Loan Agreement.
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Examples of Senior Loan Event of Default in a sentence

  • Promptly upon Borrower obtaining actual knowledge of any of the following events or conditions, Borrower shall deliver a certificate specifying the nature of such condition or event that constitutes a Default, Event of Default, Senior Loan Default or Senior Loan Event of Default.

  • Borrower will comply and cause the Property Owners and the Properties to comply, in all material respects, with the requirements of all Legal Requirements, including Environmental Laws, and the orders and requirements of any Governmental Authority in all jurisdictions in which it is now doing business or may hereafter be doing business, the failure to comply with would be a Senior Loan Default or Senior Loan Event of Default or has, or might reasonably be expected to have, a Material Adverse Effect.

  • No Senior Loan Default or Senior Loan Event of Default shall then exist.

  • Without limitation of the foregoing purchase option, Senior Lender agrees that it shall not take any Enforcement Action in respect of a Continuing Senior Loan Event of Default until the expiration of 10 days following Senior Lender's written notice ("Enforcement Notice") to Mezzanine Lender of Senior Lender's intent to commence one or more Enforcement Actions.

  • In no event shall the approval rights granted to Second Mezzanine lender pursuant to Section 15(f) and this Section 15(g) in any way restrict Senior Lender in the event that Senior Lender elects to pursue completion of the Project Improvements following a Senior Loan Event of Default.

  • No Senior Loan Event of Default has occurred and there exists no default that with the giving of notice would constitute a Senior Loan Event of Default.

  • If a Proceeding shall have occurred or a Continuing Senior Loan Event of Default shall have occurred and be continuing, Senior Lender shall be entitled to receive payment and performance in full of all amounts due or to become due to Senior Lender before Mezzanine Lender is entitled to receive any payment on account of the Mezzanine Loan.

  • Furthermore, the denial by Administrative Agent of a requested consent or approval shall not create any liability or other obligation of Administrative Agent if the denial of such consent or approval results directly or indirectly in a Senior Loan Event of Default, and Borrower hereby waives any claim of liability against Administrative Agent arising from any such denial unless Administrative Agent has not complied with any applicable standard for consent.

  • Borrower shall not impede, interfere with, hinder or delay, and shall not permit Senior Borrower to impede, interfere with, hinder or delay, any effort or action on the part of Administrative Agent to cure any Senior Loan Event of Default or asserted Senior Loan Event of Default, or to otherwise protect or preserve Administrative Agent’s interests in the Loan and the Collateral following a Senior Loan Event of Default or asserted Senior Loan Event of Default.

  • Borrower hereby represents and warrants that (i) each Senior Loan has been fully funded and remains outstanding, (ii) each of the representations and warranties contained in the Senior Loan Documents (which are hereby incorporated by reference as if fully set forth herein) is true and correct in all material respects, as of the Closing Date and (iii) there is no Senior Loan Event of Default thereunder.


More Definitions of Senior Loan Event of Default

Senior Loan Event of Default means a Mortgage Event of Default and/or a First Mezzanine Event of Default, individually or collectively, as the context may require. Mezzanine Loan Agreement (Second Mezzanine)
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Senior Loan Event of Default with respect to the Senior Loan and the Senior Loan Documents, any Event of Default (as defined therein) thereunder which has occurred and is continuing, i.e., has not been cured by Borrower or a Junior Lender within the applicable Monetary Cure Period or Non-Monetary Cure Period in accordance with this Agreement.
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Senior Loan Event of Default means the occurrence of an “Event of Default” as such term is defined in the Senior Loan Agreement. “Senior Loan Monthly Debt Service” shall mean, with respect to any particular period of time, regularly scheduled monthly principal (if applicable) and interest payments due under the Junior Loan Documents. “Senior Loan Note” shall mean that certain Promissory Note dated of even date herewith by Borrower to Senior Lender in the original principal amount of $120,000,000.00 in respect of the Senior Loan. “Servicer” shall have the meaning set forth in Section 9.4 hereof. “Servicing Agreement” shall have the meaning set forth in Section 9.4 hereof. “Severed Loan Documents” shall have the meaning set forth in Article 10. “Significant Obligor” shall have the meaning set forth in Item 1101(k) of Regulation AB under the Securities Act. “SPE Component Entity” shall have the meaning set forth on Exhibit C attached hereto. “Sponsor” shall mean Guarantor.
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Senior Loan Event of Default means an “Event of Default” under the Senior Loans and as defined in the Senior Loan Documents, which Administrative Agent is entitled to deem to having conclusively occurred upon receipt of any notice from Senior Administrative Agent or any Senior Lender of such occurrence without any inquiry into the validity thereof, absent manifest error.
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Related to Senior Loan Event of Default

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

  • Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.

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

  • 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).

  • Senior Event of Default means an Event of Default under a Senior Financing Agreement.

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

  • 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.

  • Owner Event of Default shall have the meaning set forth in Section 12.3 hereof

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

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

  • 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):

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

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

  • 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)).

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

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

  • Liquidity Event of Default means the occurrence of either (a) the Acceleration of all of the Equipment Notes or (b) an American Bankruptcy Event.

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

  • 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.

  • Potential Issuer Event of Default means any condition, event or act which, with the lapse of time and/or the issue, making or giving of any notice, certification, declaration, demand, determination and/or request and/or the taking of any similar action and/or the fulfilment of any similar condition, would constitute an Issuer Event of Default;

  • Servicer Event of Default wherever used herein, means any one of the following events:

  • Material Event of Default means any Event of Default arising under Section 10.01(a), 10.01(b) (solely with respect to a default related to Section 8.01, 8.20 or 9.13), 10.01(f), 10.01(i), 10.01(j), 10.01(n) or 10.01(o).

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

  • Subordination Event means any one of the following events:

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

  • Indenture Default With respect to any Indenture, means any Event of Default (as such term is defined in such Indenture).