Waterfall Event definition

Waterfall Event means the occurrence of (a) failure by Borrowers to repay all of the Obligations as of the end of the Term or after the Obligations have been accelerated, or (b) an Event of Default and the election by the Agent or the Required Lenders to require that payments and proceeds of Collateral be applied pursuant to Section 11.2(b).
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Waterfall Event means the occurrence of (a) a failure by Borrower to repay all of the Obligations as of the end of the Term or after the Obligations have been accelerated, or (b) an Event of Default and the election by the Agent or the Required Lenders to require that payments and proceeds of Collateral be applied pursuant to Section 11.2(b).
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Waterfall Event means the occurrence of any of the following: (i) an Event of Default under Section 7.1(f) or 7.1(g); (ii) the election by the Agent, or at the request of the Required Lenders, to terminate the Term Loan Commitment of any Lender or to declare all or any portion of the Obligations to be immediately due and payable, in each case, pursuant to Section 7.2, or (iii) an Event of Default under Section 7.1(a) as a result of the failure by Borrower to pay in full all Obligations (other than contingent indemnification obligations to the extent no claim giving rise thereto has been asserted) on the Maturity Date.
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Examples of Waterfall Event in a sentence

  • Notwithstanding the following, during a Waterfall Event, the order of application to the Obligations shall be made pursuant to Section 11.2 rather than as is provided in this Section 2.13.

  • No Adverse Waterfall Event shall have occurred at any time during the preceding six months with respect to any Asset Pool owned by the Subject Portfolio Entity.

  • In the event you chose to retire five or more years after the Effective Date of the Award and prior to a Waterfall Event, you will be entitled to “put” your vested Profits Interest to the Company within 120 days of your retirement at a valuation to be determined in accordance with the process set forth in Section 2(b) of the Profits Interest Award Agreement.

  • No Adverse Waterfall Event shall have occurred for six months with respect to any Asset Pool owned by the Subject PFAL Entity.

  • Notwithstanding the following, during a Waterfall Event, the order of application to the Obligations shall be made pursuant to Section 11.02(b) rather than as is provided in this Section 2.07.

  • Notwithstanding the following, (i) during a Waterfall Event, the order of application to the Obligations shall be made pursuant to Section 11.02(b) rather than as is provided in this Section 2.07, and (ii) in the event of a prepayment pursuant to Section 2.07(f), the net cash proceeds received from such Rights Offering shall be applied solely to the outstanding principal amount of the November 2018 Bridge Term Loan.

  • Notwithstanding the following, during a Waterfall Event, the order of application to the Obligations shall be made pursuant to Section 11.2 rather than as is provided in this Section 2.14.

Related to Waterfall Event

  • Call Event means Share Call Event. "Change in Law" means that due to

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • Servicer Termination Event shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous concept under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.

  • Repurchase Event means the occurrence of a breach of any of the Seller’s representations and warranties in Section 3.1(a) or any other event which requires the repurchase of a Receivable by the Seller, under the Sale and Servicing Agreement.

  • Change of Control Repurchase Event means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

  • Book-Up Event means an event that triggers a positive adjustment to the Capital Accounts of the Partners pursuant to Section 5.5(d).

  • Servicer Termination Events (or any analogous term under the Lead Securitization Servicing Agreement) include customary market termination events with respect to failure to make advances, failure to timely remit payments to the Non-Lead Note Holders as required hereunder or under the Lead Securitization Servicing Agreement (subject to no more than one business day grace period), failure to timely deposit amounts into any REO Account or to remit to a Servicer for deposit into a related collection or custodial account, failure to deliver (or cause to be delivered) materials or information required in order for each Non-Lead Note Holder or each Non-Lead Depositor to timely comply with its obligations under the Exchange Act, the Securities Act and Form SF-3, and for rating agency downgrades or other triggers with respect to any certificates issued in connection with a Non-Lead Securitization, subject to customary grace periods (provided that, in the case of failures related to the securities laws, such grace periods will not cause a Non-Lead Depositor to fail to comply with the applicable provisions of such securities laws). Upon the occurrence of such a Servicer Termination Event with respect to the Master Servicer affecting a Non-Lead Securitization Note Holder and the Master Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Master Servicer shall be required, upon the direction of such Non-Lead Securitization Note Holder, to appoint a subservicer with respect to such Non-Lead Securitization Note. Upon the occurrence of a Servicer Termination Event with respect to the Special Servicer affecting a Non-Lead Securitization Note Holder and the Special Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Trustee shall, upon direction of such Non-Lead Securitization Note Holder, terminate the Special Servicer with respect to, but only with respect to, the Mortgage Loan;

  • Special Event means any of a Tax Event, an Investment Company Event or a Capital Treatment Event.

  • Change of Control Event means the occurrence of an event or series of events whereby one or more Persons, acting together, acquire control over the Issuer and where “control” means (a) acquiring or controlling, directly or indirectly, more than fifty (50.00) per cent. of the voting shares of the Issuer, or (b) the right to, directly or indirectly, appoint or remove the whole or a majority of the directors of the board of directors of the Issuer.

  • Fall Away Event means such time as the Notes shall have an Investment Grade Rating and the Company shall have delivered to the Trustee an Officers’ Certificate certifying that the foregoing condition has been satisfied.

  • Collateral Event means that no Relevant Entity has credit ratings at least equal to the Approved Ratings Threshold.

  • Put Event means the occurrence of any of the following:

  • Make-Whole Fundamental Change Period shall have the meaning specified in Section 14.03(a).

  • Servicer Termination Notice Defined in Section 6.15.

  • Removal Event has the meaning set forth in Section 12.12 hereof.

  • Change of Control Put Period means the period of 45 days after a Change of Control Put Event Notice is given;

  • Change of Control Triggering Event means the occurrence of both a Change of Control and a Rating Event.

  • Section 11(a)(ii) Event means any event described in Section 11(a)(ii) hereof.

  • Distribution Event means any insolvency, bankruptcy, receivership, liquidation, reorganization or similar proceeding (whether voluntary or involuntary) relating to the Company or its property, or any proceeding for voluntary or involuntary liquidation, dissolution or other winding up of the Company, whether or not involving insolvency or bankruptcy.

  • Flip-in Event means a transaction in or pursuant to which any Person becomes an Acquiring Person;

  • Control Event Defined. “Control Event” means:

  • Release Event has the meaning set forth in Section 6(b).

  • Transfer Event means (i) a transfer of the ownership of a project, (ii) the sale or assignment of a partnership interest in a project owner and/or (iii) the refinancing of secured debt on a project. The following shall not be deemed a Transfer Event: (i) the transfer of the project or a partnership or membership interest in a project owner in which reserves remain with the project and the debt encumbering the project is not increased, refinanced or otherwise modified, (ii) the refinancing of project debt which does not increase the outstanding principal balance of the debt other than in the amount of the closing costs and fees paid to the project lender and third parties as transaction

  • Make-Whole Fundamental Change means any transaction or event that constitutes a Fundamental Change (as defined above and determined after giving effect to any exceptions to or exclusions from such definition, but without regard to the proviso in clause (b) of the definition thereof).

  • Index Call Event means each of the following events: