Event of Default or Default Sample Clauses
The 'Event of Default or Default' clause defines specific circumstances or conditions under which a party to a contract is considered to have failed to meet its obligations, either by breaching terms or by triggering certain negative events such as insolvency or non-payment. In practice, this clause typically lists actions or omissions—like missing payments, violating covenants, or entering bankruptcy—that constitute a default, and may distinguish between a 'Default' (a potential or initial breach) and an 'Event of Default' (a breach that has matured or not been remedied within a specified period). Its core function is to provide a clear framework for identifying when a party is in breach, thereby enabling the non-breaching party to exercise remedies such as acceleration of payments, termination, or enforcement actions, and thus managing risk and ensuring contractual certainty.
Event of Default or Default. No Event of Default or Default shall have occurred and be continuing.
Event of Default or Default. The absence, after giving effect to such Letter of Credit or Advance and the receipt of the proceeds thereof and the retirement of any indebtedness then being retired out of the proceeds of such Advance, of any Default or Event of Default;
Event of Default or Default under Section 8.1(e) as a result of the Company’s failure to deliver the annual Collateral verification as and when required pursuant to Section 5.1(o) of the Credit Agreement;
Event of Default or Default under Section 8.1(c) as a result of the Company’s failure to provide forecasts demonstrating projected compliance with the requirements of Section 6.8 through the final maturity date of the Loans as required pursuant to Section 5.1(i)(iii) of the Credit Agreement within forty-five (45) days following the first Business Day of Fiscal Year 2008; and
Event of Default or Default under Section 8.1(e) as a result of the Company’s failure to sell the Existing Headquarters Asset pursuant to an Existing Headquarters Asset Sale as required under Section 5.23 of the Credit Agreement;
Event of Default or Default. Upon the occurrence of an --------------------------- Event of Default or a Default (as defined in the Indenture) in respect of a Global Note, or in connection with any other right of the Holder under the Indenture or this Agreement, if requested in writing by the Holder, the Custodian and the Depositary shall take such action as shall be requested in such notice in respect of such Global Note, provided the Custodian and the Depositary shall not be required to take any such action unless the Holder shall have offered to the Custodian and the Depositary reasonable security or indemnity against the costs, expenses and liabilities which might be incurred by it in compliance with such request. Neither the Depositary nor the Custodian shall itself exercise any discretion in the taking of action in respect of a Global Note.
Event of Default or Default under Section 8.1(b) as a result of Borrower’s the early termination and acceleration of Borrower’s Existing Interest Rate Agreements with ▇▇▇▇▇▇▇ ▇▇▇▇▇ Capital Markets, L.P. (“▇▇▇▇▇▇▇ Sachs”) resulting in a liability of $12,165,000 and Borrower’s failure to pay such amount to ▇▇▇▇▇▇▇ ▇▇▇▇▇ (the “Hedge Termination”);
Event of Default or Default. Section 8.1(c) as a result of Borrower’s failure to comply with Section 6.8(a) of the Credit Agreement for the measurement period ending as of the last day of the Fiscal Quarter ending closest to June 30, 2008;
Event of Default or Default. Section 8.1(e) as a result of Borrower’s failure to prepare or deliver consolidating balance sheets or consolidating statements of income, or statements of shareholders’ equity or comparison against the Financial Plan, as required under Section 5.1(b) and (c) of the Credit Agreement for the Fiscal Year ending December 30, 2007 and for the Fiscal Quarters ending closest to March 31, 2008 and June 30, 2008;
Event of Default or Default under Section 8.1(c) as a result of Borrower’s failure to provide notice of the foregoing Events of Default as and when required pursuant to Section 5.1(f) of the Credit Agreement;