Term Loan Default definition

Term Loan Default means any “Event of Default”, as such term is defined in any Term Loan Document.
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Term Loan Default means an “Event of Default” as defined in the Term Loan Agreement or in any Additional Pari Passu Term Agreement.
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Term Loan Default means any “Event of Default” or similar term, as such term is defined under the Term Loan Documents.
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Examples of Term Loan Default in a sentence

  • If a 2016 Term Loan Advance is accelerated following the occurrence of an Event of Default, Borrower shall immediately pay to Bank an amount equal to the sum of: (i) all outstanding principal plus accrued and unpaid interest, (ii) the 2016 Prepayment Premium, (iii) the 2016 Final Payment, plus (iv) all other sums, if any, that shall have become due and payable hereunder, including interest at the 2016 Term Loan Default Rate with respect to any past due amounts.

  • Any principal payment with respect to the Term Loan not paid when due, whether on a Term Loan Payment Date or by acceleration, shall bear interest thereafter at a rate per annum of two percent (2.0%) over the Term Loan Applicable Rate in effect with respect to such payment at the time of such default (the "Term Loan Default Rate").

  • Upon and after the occurrence of an Event of Default, the Fourth Term Loan shall bear interest on its principal amount outstanding from time to time at a rate per annum (the "Fourth Term Loan Default Rate") equal to five percent (5%) per annum over the Bank's Prime Rate, which shall be adjusted daily when and as the Bank's Prime Rate changes.

  • The Company shall deliver to the Term Lender annually a statement regarding compliance with this Agreement, and the Company shall upon becoming aware of any Term Loan Default or Term Loan Event of Default, deliver to the Administrative Agent a statement specifying such Term Loan Default or Term Loan Event of Default.

  • Upon the occurrence of an event of default hereunder (which has not been cured as herein provided or waived by Bank in writing), at the option of Bank, and in addition to any other remedies available to Bank, interest may be charged on the Advances outstanding on the date of such event of default at the rate of five (5) percentage points greater than the Term Loan Facility "A" Rate (the "Term Loan Default Rate").

  • Upon and after the occurrence of an Event of Default, the Second Term Loan shall bear interest on its principal amount outstanding from time to time at a rate per annum (the "Second Term Loan Default Rate") equal to eleven and one-quarter percent (11.25%) per annum.

  • Upon and after the occurrence of an Event of Default, the Third Term Loan shall bear interest on its principal amount outstanding from time to time at a rate per annum (the "Third Term Loan Default Rate") equal to four percent (4%) per annum over the Bank's Prime Rate, which shall be adjusted daily when and as the Bank's Prime Rate changes.

  • Upon and after the occurrence of an Event of Default, the Fourth Term Loan shall bear interest on its principal amount outstanding from time to time at a rate per annum (the "Fourth Term Loan Default Rate") equal to four percent (4%) per annum over the Bank's Prime Rate, which shall be adjusted daily when and as the Bank's Prime Rate changes.

  • Upon and after the occurrence of an Event of Default, the Second Term Loan shall bear interest on its principal amount outstanding from time to time at a rate per annum (the "Second Term Loan Default Rate") equal to eleven and three-quarters percent (11.75%) per annum.

  • Term Loan Agent hereby acknowledges that Working Capital Agent, acting for and on behalf of itself and the Working Capital Lenders, has been granted, or may be granted, Liens upon all of the Collateral, including the Term Loan Priority Collateral, pursuant to the Working Capital Loan Agreements to secure the Working Capital Debt; consents thereto; and waives any Term Loan Default in regard thereto.


More Definitions of Term Loan Default

Term Loan Default means any event, act or condition which with notice or lapse of time, or both, would constitute a Term Loan Event of Default.
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Term Loan Default means an Event of Default under the Term Loan Financing Agreement.
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Term Loan Default means Borrower's failure to pay the scheduled mandatory prepayment due June 25, 2001 in the amount of $468,750.00 with respect to the Term Loan (the "JUNE TERM LOAN PAYMENT") pursuant to Section 2.4(e) of the Credit Agreement.
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Term Loan Default means an “Event of Default” as defined in the Term Loan Agreement. “Term Loan Documents” means the Term Loan Agreement, the Collateral Documents and the “Other Documents” (as defined in the Term Loan Agreement) and each of the other agreements, documents, and instruments providing for or evidencing any Term Loan Obligation, and any other document or instrument executed or delivered at any time in connection with any Term Loan Obligations, as each may be amended, restated, supplemented, modified, renewed, Refinanced or extended from time to time in whole or in part in accordance with the provisions of this Agreement (whether with the Collateral Agent, the Term Loan Secured Parties or other agents and lenders or otherwise). “Term Loan Exclusive Mortgaged Property” means (a) the real property listed on Schedule 2 attached hereto and (b) any NY Real Property that, from time to time, may become subject to a Lien in favor of the Collateral Agent for the benefit of the Term Loan Secured Parties and (c) including improvements thereon, fixtures thereto, dedicated processing equipment used thereat (other than Rolling Stock), minerals contained therein before extraction, and substitutions, replacement products, insurance proceeds with respect to and after proceeds of the foregoing. “Term Loan Lenders” means, at any relevant time, the lenders party to the Term Loan Agreement at such time, any other “Term Loan Secured Parties” (as such term is defined in the Term Loan Agreement) and any other holder (if any) of the Term Loan Obligations; provided that the “Term Loan Lenders” shall not include the Term Loan Agent.. “Term Loan Obligations” means all “Obligations” as defined in the Term Loan Agreement. “Term Loan Obligations” shall include, without limitation (a) all interest accrued or accruing (or which would, absent commencement of an Insolvency Proceeding, accrue) after commencement of an Insolvency Proceeding in accordance with the rate specified in the relevant Term Loan Document whether or not the claim for such interest is allowed as a claim in such Insolvency Proceeding and (b) all other Indebtedness arising under or in connection with the Term Loan Documents that is purported to be secured under the Collateral Documents. 10 “Term Loan Priority Collateral” means all Collateral, other than the Revolver Priority Collateral, including, without limitation, the Term Loan Priority Mortgaged Property and the Term Loan Exclusive Mortgaged Property. “Term Loan Priority Co...
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Term Loan Default means an “Event of Default” (as defined in any of the Term Loan Documents), which is no longer subject to any applicable cure or notice period.
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Term Loan Default any “Event of Default”, as such term is defined in any Term Loan Document. Term Loan Documents: the Term Loan Collateral Documents, the Term Loan Agreement, the Term Loan Guaranty, and each of the other Loan Documents (as defined in the Term Loan Agreement), this Agreement, and each of the other documents entered into in connection with the Term Loan Agreement.
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Related to Term Loan Default

  • Lender Default means (a) the refusal or failure (which has not been cured) of a Lender to make available its portion of any Borrowing or to fund its portion of any Unpaid Drawing under Section 3.4 that it is required to make hereunder, (b) a Lender having notified the Administrative Agent and/or the Borrower that it does not intend to comply with its funding obligations under this Agreement or has made a public statement to that effect with respect to its funding obligations under this Agreement, (c) a Lender has failed to confirm (within one Business Day after a request for such confirmation is received by such Lender) in a manner reasonably satisfactory to the Administrative Agent, the Borrower and, in the case of a Revolving Credit Lender, each Revolving Letter of Credit Issuer that it will comply with its funding obligations under this Agreement, (d) a Lender being deemed insolvent or becoming the subject of a bankruptcy or insolvency proceeding or has admitted in writing that it is insolvent; provided that a Lender Default shall not be deemed to have occurred solely by virtue of the ownership or acquisition of any Stock in the applicable Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide the applicable Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit the applicable Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with the applicable Lender, or (e) a Lender that has, or has a direct or indirect parent company that has, become the subject of a Bail-In Action.

  • Credit Default Swap means any credit default swap entered into as a means to (i) invest in bonds, notes, loans, debentures or securities on a leveraged basis or (ii) hedge the default risk of bonds, notes, loans, debentures or securities.

  • Note Default Interest Spread means, with respect to the outstanding principal balance of any Note, a rate per annum equal to the lesser of (i) the Maximum Legal Rate minus the Note A Rate or (ii) five percent (5%).

  • Forbearance Default means: (A) the failure of the Company to provide the Noteholder Group and its financial advisors with reasonable access, as determined by the Noteholder Group in its reasonable discretion, to its Chief Executive Officer, other senior executives and outside advisors, including representatives of ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ that are working with the Company, and to provide the Noteholder Group and its legal and financial advisors with any and all due diligence information they may reasonably request, including, without limitation, the Company’s current 13-week cash flow schedule, and all updates thereto as soon as reasonably practicable after they are prepared, but in no event no later than two (2) business days thereafter; (B) the failure of the Company to engage in good faith negotiations with the Noteholder Group regarding a potential restructuring transaction, which determination shall be made by the Noteholder Group in its reasonable discretion; (C) the failure of the Company to promptly notify the Noteholder Group of the occurrence of a Forbearance Default (as defined in the DDJ Third Amended Forbearance Agreement) under the DDJ Third Amended Forbearance Agreement or any amendment or modification to the DDJ Third Amended Forbearance Agreement; (D) termination of the DDJ Third Amended Forbearance Agreement; (E) the execution of any amendment or modification to the DDJ Third Amended Forbearance Agreement, which amendment or modification has a material adverse effect on the Noteholder Group as determined by the Noteholder Group in its reasonable discretion; (F) termination by the Company of the ▇▇▇▇▇▇ Engagement Letter or the failure of the Company to pay ▇▇▇▇▇▇’▇ fees, expenses and indemnity in accordance with the terms of the ▇▇▇▇▇▇ Engagement Letter; (G) the occurrence of any Event of Default that is not a Specified Existing Default; (H) the failure of the Company to comply with any term, condition, covenant or agreement set forth in this Third Amended Forbearance Agreement; (I) the failure of any representation or warranty made by the Company under this Third Amended Forbearance Agreement to be true and correct in all material respects as of the date when made; (J) the commencement by or against the Company or any of the Subsidiaries of a case under title 11 of the United States Code; or (K) the commencement of any action or proceeding by any creditor of the Company or any of the Subsidiaries seeking to attach or take similar action against the assets of the Company or the Subsidiaries. Any Forbearance Default shall constitute an immediate Event of Default under the Indenture.

  • Letter of Credit Default means with respect to a Letter of Credit, the occurrence of any of the following events: