Significant Default definition

Significant Default means any Event of Default pursuant to Section 10.03 with respect to any failure to comply with Sections 9.07, 9.08, 9.09, 9.10 or 9.11 or any Default or Event of Default pursuant to Section 10.01 or 10.

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Significant Default means any Event of Default pursuant to Section 10.03 with respect to any failure to comply with the Financial Covenants or any Default or Event of Default pursuant to Section 10.01 or 10.05.

Significant Default shall occur if (a) similar or related Events of Default occur more than two times with respect to the same Defaulting Member, or (b) the Event of Default (or aggregate of all Events of Default) involves an amount of failed required additional Capital Contribution equal to or greater than the amount set forth in Schedule 2.78.

Examples of Significant Default in a sentence

• Other than as permitted in Section 7.4(b) hereof, Borrower shall not acquire, and shall not permit any Subsidiary Guarantor to acquire, all or a material portion of the Capital Stock or assets of any Person in any transaction or in any series of related transactions or enter into any sale and leaseback transaction if a Significant Default exists or would exists after giving effect to such transaction.

• The Borrower agrees for the benefit of the Finance Parties that following the occurrence of a Significant Default which is continuing it shall not make or seek to make any payment to the Servicing Agent in respect of any Servicing Payment, or discharge or seek to discharge any Servicing Payment by way of set-off.

• At such time as there shall not be continuing any such Significant Default or Lease Event of Default or after the exercise of remedies hereunder all of the obligations of Lessee hereunder and under the other Operative Documents shall have been fully and indefeasably satisfied, such amount shall be paid to the applicable Lessee to the extent not previously applied in accordance with the preceding sentence.

• Lessee's exercise of a Renewal Option shall be deemed to be a representation by Lessee that on both the applicable Expiration Date and the date Lessee gives notice of its exercise of the Renewal Option, no Significant Default or Lease Event of Default shall have occurred and be continuing.

• Upon any such resignation, the Required Lenders shall have the right to appoint a successor with the approval of the Borrower (such approval not to be unreasonably withheld or delayed; provided that no such approval shall be required if a Significant Default has occurred and is continuing).

More Definitions of Significant Default

Significant Default meanss any Event of Default arising under Section 8.01 other than:

Significant Default means (i) any Default or Event of Default referred to in Section 9(a), 9(b), 9(e), 9(f), 9(g), 9(k), 9(l), 9(m), 9(n), 9(o), 9(p) or 9(q) hereof, (ii) any Event of Default referred to in Section 9(c) hereof unless such Event of Default results from a failure to comply with the provisions of Section 7.4 or 7.13 hereof, (iii) any Event of Default referred to in Section 9(d), 9(h), 9(i) or 9(j) hereof and (iv) any Event of Default not specified in the foregoing clauses (i) through (iii) which has been in existence for a period of more than

Significant Default means a Default described in Sections 8.1(b), (f) or (g) hereof.

Significant Default. A Default or Event of Default, which arises under Section 8.1(a), (b), (i), (j) or (k) hereof, the failure of Borrower to maintain the covenants required under Section 6.8 hereof or the breach of any covenant contained in Section 7 hereof. Sponsored CDO Equity Interests – Collectively, those certain equity interests in the Collateralized Debt Offerings set forth on Schedule “5.14(b)” attached hereto, as such Schedule may be amended, supplemented, replaced or restated from time to time and any other equity interests in Sponsored CDO Offerings (whether now existing or hereafter created or acquired).

Significant Default means a Default (except a Default arising because of a failure by the Company to comply with any provision described in Section 11(d), which has not yet become an Event of Default) or an Event of Default.

Significant Default as defined in SECTION 7.2. ------------------- STOCK PURCHASE AGREEMENT: as defined in SECTION 1.1. ------------------------ SUBSIDIARY: with respect to any Person, any corporation or other ---------- Person more than 50% of the Equity Interest of which is at the time owned by such Person and/or one or more of its other Subsidiaries. Unless otherwise specified, any reference to a Subsidiary in this Agreement is intended as a reference to a Subsidiary of the Company. SUCCESSOR: as defined in SECTION 6.7(D). --------- SUCCESSOR TRANSACTION: as defined in SECTION 6.7(D). --------------------- SUPPLEMENT: as defined in SECTION 8.7. ----------

Significant Default means a Default arising under Section 6.7 (as of the last day of the Fiscal Quarter immediately preceding the date of the Stock Payment Notice for which Commission Reports have been filed for the Company), 6.16, 7.1, 7.2, 7.3, 7.4 or 7.