Waived Default definition

Waived Default means, individually and collectively, any Default or Unmatured Default arising solely out of (i) any breach of Section 6.20.1, 6.20.2 or 6.20.3 of the Credit Agreement for the four fiscal quarter periods ending December 31, 2007 or Xxxxx 00, 0000, (xx) any breach of Section 6.3 of the Credit Agreement arising solely out of the Borrower’s failure to give notice to the Lenders of the matters set forth in this definition, (iii) any Default under Section 7.5 of the Credit Agreement arising solely out of the existence of a “Default” or “Unmatured Default” under the Other Credit Agreement (as defined above) arising out of the matters set forth in this definition, (iv) any breach of Section 6.13(iii) to the extent the Lenders determine that sales of portfolio securities owned by the Borrower and its Subsidiaries have not been in the ordinary course of business or (v) any Default under Section 7.1 of the Credit Agreement arising solely out of any representation or warranty previously (and during the Waiver Period) made or deemed made pursuant to Section 5.5 of the Credit Agreement being materially false on the date as of which made to the extent such material falsity arises from (A) the matters referred to in clauses (i) — (iv) above or (B) (1) matters relating to the Borrower’s financial condition or business which have been disclosed to the Lenders in writing prior to the date hereof or (2) the fact that the amount of net securities losses recognized or to be recognized by the Borrower for the period ended December 31, 2007 are or may be in an amount less than or equal to $1,500,000,000 (inclusive of the amount of net securities losses of $860,000,000 previously publicly disclosed by the Borrower in its Form 8-K filing made with the Securities and Exchange Commission on January 14, 2008) to the extent that, in either case, the Lenders determine that such matters or fact have had or are reasonably expected to have a Material Adverse Effect.
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Waived Default means, individually and collectively, any Default or Unmatured Default arising solely out of (i) any breach of Section 6.20.1, 6.20.2 or 6.20.3 of the Credit Agreement for the four fiscal quarter period ending December 31, 2007,(ii) any breach of Section 6.3 of the Credit Agreement arising solely out of the Borrower’s failure to give notice to the Lenders of the matters set forth in this definition, (iii) any Default under Section 7.5 of the Credit Agreement arising solely out of the existence of a “Default” or “Unmatured Default” under the Borrower’s $150,000,000 364-day Credit Agreement dated as of November 15, 2007 (the “364-day Credit Agreement”) arising out of the matters set forth in this definition or (iv) any Default under Section 7.1 of the Credit Agreement arising solely out of any representation or warranty previously (and during the Waiver Period) made or deemed made pursuant to Section 5.5 of the Credit Agreement being materially false on the date as of which made to the extent such material falsity arises from (A) the matters referred to in clauses (i) — (iii) above or (B) (1) matters relating to the Borrower’s financial condition or business which have been disclosed to the Lenders in writing prior to the date hereof or (2) the fact that the amount of net securities losses recognized or to be recognized by the Borrower for the period ended December 31, 2007 are or may be in an amount less than or equal to $1,500,000,000 (inclusive of the amount of net securities losses of $300,000,000 previously publicly disclosed by the Borrower) to the extent that, in either case, the Lenders determine that such matters or fact have had or are reasonably expected to have a Material Adverse Effect.
Sample 1
Waived Default means, individually and collectively, any Default or Unmatured Default arising solely out of (i) any breach of Section 6.20.1, 6.20.2 or 6.20.3 of the Credit Agreement for the four fiscal quarter periods ending December 31, 2007 or March 31, 2008, (ii) any breach of Section 6.3 of the Credit Agreement arising solely out of the Borrower’s failure to give notice to the Lenders of the matters set forth in this definition, (iii) any Default under Section 7.5 of the Credit Agreement arising solely out of the existence of a “Default” or “Unmatured Default” under the Other Credit Agreement (as defined above) arising out of the matters set forth in this definition, (iv) any breach of Section 6.13(iii) to the extent the Lenders determine that sales of portfolio
Sample 1

Examples of Waived Default in a sentence

  • The waivers set forth in this Section 6(c) shall be effective only for the Waived Defaults, and such waivers shall not entitle the Borrower or Holdings to any future waiver if any Waived Default recurs after the First Amendment Effective Date or in similar or other circumstances.

  • Nothing contained herein shall be deemed a waiver or consent in respect of (or otherwise affect the Lenders’ ability to enforce) any Default not explicitly waived by Section 2 including (a) any Default that may now exist or hereafter arise from or otherwise be related to the Waived Default, and (b) any Default arising at any time after the Effective Date and which is similar in type to the Waived Default.

  • The Administrative Agent and the Lenders reserve the right to exercise any rights and remedies available to them in connection with any present or future Events of Default with respect to the Credit Agreement or any other provision of any Loan Document that do not relate to or result from the Waived Default.

  • Bank hereby waives filing any legal action or instituting or enforcing any rights and remedies it may have against Co-Borrowers with respect to the Waived Default.

  • Bank’s agreement to waive the Waived Default (a) in no way shall be deemed an agreement by Bank to waive Co-Borrowers’ compliance with the above-referenced section as of all other dates, and (b) shall not limit or impair the Bank’s right to demand strict performance of such section as of all other dates.

  • The amount of interest accruing at the additional 8% for the period specified in the immediately preceding sentence is referred to herein as the “Provisionally Waived Default Interest Amount”.

  • Any proposed changes to the governance charter shall be reviewed and agreed upon by the cities of Oakland and Berkeley, and County funders, in addition to the Leadership Board.

  • Borrower is in full compliance with all covenants and agreements contained in the Credit Agreement, except as specifically relates to the Waived Default and the Forbearance Defaults, and the other Credit Documents to which it is a party; and without limitation of the foregoing, each Subsidiary of Borrower which, as of the date hereof, is required to be a Subsidiary Guarantor, has on or prior to the date hereof, become a Subsidiary Guarantor under the Subsidiary Guaranty.

  • Agent’s and the Lenders’ agreement to waive the Waived Default (a) in no way shall be deemed an agreement by Agent or the Lenders to waive borrower’s compliance with Section 7.12 of the Loan Agreement (as amended by this Amendment) on and after the First Amendment Effective Date and (b) shall not limit or impair Agent’s or the Lenders’ right to demand strict performance of Section 7.12 of the Loan Agreement (as amended by this Amendment) on and after the First Amendment Effective Date.

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More Definitions of Waived Default

Waived Default means any Default or Event of Default waived under clause 4(a) (Waiver) of the First Amendment and Restatement Agreement.
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Related to Waived Default

  • Specified Default means a Default under Section 8.01(a), (f) or (g).

  • Specified Defaults means, collectively, the Existing Defaults and the Anticipated Defaults.

  • Financing Default means an event which would constitute (or with notice or lapse of time or both would constitute) an event of default (which event of default has not been cured) under or would otherwise violate or breach (i) any financing arrangement of the Company or any of its Subsidiaries in effect as of the time of the aforementioned event, and any extensions, renewals, refinancings or refundings thereof in whole or in part; and (ii) any provision of the Company's or any of its Subsidiary's constitutional documents.

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • Forbearance Default means any of: (A) the occurrence of any Default or Event of Default other than the Specified Defaults, (B) the failure of Borrower or any other Designated Company to timely and strictly comply with any term, condition, covenant, agreement or other obligation set forth in this Agreement, (C) the failure of any representation or warranty made by Borrower or any other Designated Company under or in connection with this Agreement to be true and complete in all material respects as of the date when made or any other material breach of any such representation or warranty, (D) the taking of any action by Borrower or any other Designated Company to in any way repudiate or assert a defense to any Obligation under the Credit Agreement, this Agreement or any of the other Loan Documents or the assertion of any claim or cause of action against Administrative Agent, Co-Administrative Agent or any Lender relating in any way thereto, (E) the date on which Administrative Agent, in its sole discretion or at the direction of the Required Lenders, delivers to Borrower a written notice terminating the Forbearance Period, which notice may be delivered at any time upon or after the delivery of any Proposed Vendor Payment Schedule Rejection Notice (as defined below) by the Administrative Agent in accordance with Section 3(c)(ii) hereof, or (F) Borrower fails to receive Inventory purchased with a CIA Payment (as defined below) within six (6) Business Days of the making of such CIA Payment. The occurrence of any Forbearance Default shall constitute an immediate Event of Default under the Credit Agreement and other Loan Documents. Upon the termination or expiration of the Forbearance Period, the agreement of Administrative Agent, Co-Administrative Agent and each Lender hereunder to forbear from exercising its default-related rights and remedies shall immediately terminate without the requirement of any demand, presentment, protest, or notice of any kind, all of which Borrower and each other Designated Company hereby waives. Borrower and each other Designated Company further agrees that any of Administrative Agent (upon direction of the Required Lenders to the extent provided in the Credit Agreement) and each Lender may at any time after the expiration or termination of the Forbearance Period proceed to exercise any and all of its rights and remedies under any or all of the Credit Agreement, any other Loan Document and/or applicable law, all of which rights and remedies are hereby fully reserved by Administrative Agent and each Lender. Any agreement by Administrative Agent and the Lenders to extend the Forbearance Period, if any, must be set forth in writing and signed by Administrative Agent and the Lenders. Borrower and each other Designated Company acknowledges that none of Administrative Agent or any Lender has made any assurances concerning any possibility of any extension of the Forbearance Period. Borrower and each other Designated Company acknowledges and agrees that any Loan or other financial accommodation which Administrative Agent, Co-Administrative Agent or any Lender makes to or for the benefit of Borrower or any other Designated Company on or after the Forbearance Effective Date has been made by such party in reliance upon, and is consideration for, among other things, the general releases and indemnities contained in Section 5 hereof and the other covenants, agreements, representations and warranties of Borrower and each other Designated Company hereunder.

  • Bank Default means (i) the refusal (which has not been retracted) of a Bank to make available its portion of any Borrowing or to fund its portion of any unreimbursed payment under Section 2.03(c) or (ii) a Bank having notified in writing the Borrower and/or the Agent that it does not intend to comply with its obligations under Section 1.01 or Section 2, in the case of either clause (i) or (ii) as a result of any takeover of such Bank by any regulatory authority or agency.

  • Unmatured Default means an event which but for the lapse of time or the giving of notice, or both, would constitute a Default.

  • Funding Default as defined in Section 2.22.

  • Existing Defaults means, collectively, the Events of Default identified on Exhibit A hereto.

  • O & M Default means any default on the part of the Power Producer for a continuous period of ninety (90) days to (i) operate and/or (ii) maintain (in accordance with Prudent Utility Practices), the Project at all times.

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

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Reporting Default means a Default described in Section 6.01(d).

  • Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p).

  • 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.

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

  • Loan Default means any event, condition or failure which, with notice or lapse of time or both, would become a Loan Event of Default.

  • Special Default means (i) the failure by Owner to pay any amount of principal of or interest on any Equipment Note when due or (ii) the occurrence of any Default or Event of Default referred to in Section 5.01(v), (vi) or (vii).

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

  • Actionable Default means (i) an Event of Default under and as defined by the Credit Facility Agreement or (ii) an event of default under the Public Indenture.

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • 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.

  • Additional Default means any provision contained in any document or instrument creating or evidencing Indebtedness of the Borrower or any of its Subsidiaries which permits the holder or holders of such Indebtedness to accelerate (with the passage of time or giving of notice or both) the maturity thereof or otherwise requires the Borrower or any of its Subsidiaries to purchase such Indebtedness prior to the stated maturity thereof and which either (i) is similar to any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement, but contains one or more percentages, amounts or formulas that is more restrictive or has a xxxxxxx xxxxx period than those set forth herein or is more beneficial to the holder or holders of such other Indebtedness (and such provision shall be deemed an Additional Default only to the extent that it is more restrictive or more beneficial) or (ii) is different from the subject matter of any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement.

  • Incipient Default means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default.

  • Material Default means a material breach of this Framework Agreement and/or, breach by the Supplier of any of the following Clauses: Clause 8 (Warranties and Representations), Clause 9 (Prevention of Bribery and Corruption), Clause 13 (Statutory Requirements and Standards), Clause 14 (Non-Discrimination), Clause 15 (Provision of Management Information), Clause 16 (Management Charge), Clause 17 (Records and Audit Access), Clause 22 (Data Protection), Clause 23 (Freedom of Information) and Clause 31 (Transfer & Sub-contracting);