Examples of Term Event of Default in a sentence
Notwithstanding any provision to the contrary contained in this Lease or any other Operative Documents, prior to the commencement of the Base Term, the aggregate amount payable by Lessee on a recourse basis under this Article XVI and under Section 18.2 as the result of a Lease Event of Default which is not a Full Recourse Interim Term Event of Default shall be subject to the limitations on recourse liability set forth in Article XIII of the Participation Agreement.
Specifically, the Intercreditor Agreement governs the respective rights and interests of the Prepetition ABL Secured Parties and the Prepetition Term Loan Secured Parties relating to, among other things, their rights and their ability to exercise remedies in connection with an ABL Event of Default or Term Event of Default (each as defined in the Intercreditor Agreement) and in the event of a bankruptcy filing, including related enforcement, standstill and turnover provisions.
The Term "Event of Default" shall mean any of the events set forth in this Section 6.1.