Specified Default Clause Samples
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Specified Default. In the absence of an exercise of the Investor’s Election, the Company may be in default under Sections 8(i) and 8(x) of the Investor Note(s) for failure to pay the outstanding amounts due under the Investor Note(s) (the “Specified Default”).
Specified Default. An Event of Default occurring under Sections 11.1(a), 11.1(b), 11.1(c) (solely in respect of Borrowers’ failure to comply with (x) the reporting requirements set forth in Section 8.1, (y) the cash management requirements set forth in Section 6.3(c), or (z) the financial covenants set forth in Section 10.3), or 11.1(j).
Specified Default. The following events shall constitute a specified default (a “Specified Default”) with respect to the Specified Default Parties:
(i) any breach or violation of any Significant Obligation of (1) CIB, any CIB Shareholder, Inmex or any Inmex Shareholder or KO under this Agreement (including, without limitation, any obligation of CIB, Inmex or KO under any of the Guarantees), the Estatutos or the Subsidiary Estatutos of any Subsidiary, or (2) the Company, any Subsidiary, KO or any Affiliate of KO under any of the Bottler’s Agreements, which breach or violation referred to in clause (1) or (2) of any such Person continues unremedied for at least 90 days after the Non-Defaulting Party has delivered written notice of such breach or violation of all Specified Default Parties; provided, however, that no such breach or violation of an obligation referred to in clause (2) of the Company or any Subsidiary shall constitute a Specified Default unless (I) such obligation is contained in the Specified Bottler’s Contract Provisions and (II) such breach or violation thereof is Attributable To CIB; or
(ii) the commencement by CIB, any CIB Shareholder, Inmex or any Inmex Shareholder or, for so long as Inmex shall be a Majority Owned Subsidiary of KO or KO shall be the legal successor of Inmex, KO of a proceeding for receivership, bankruptcy, insolvency, dissolution, liquidation or reorganization or any similar proceeding; or
(iii) the commencement against CIB, any CIB Shareholder, Inmex or any Inmex Shareholder or, for so long as Inmex shall be a Majority Owned Subsidiary of KO or KO shall be the legal successor of Inmex, KO of any proceeding specified in clause (ii) of this Section 6.1, and such proceeding has resulted in the entry of an order for any relief which shall not have been vacated, discharged, stayed or bonded pending appeal within 60 days from the entry thereof.
Specified Default. As used in this Section 14, the term “Specified Default” means (i) any Default pursuant to Section 9.1(a) or Section 9.1(e) of the Loan Agreement or (ii) any Event of Default.
Specified Default. An Event of Default arising under any of the following paragraphs of Article VIII:
Specified Default. The failure of the Borrowers to maintain average Availability of no less than $2,000,000, calculated on a three (3) month rolling basis and as measured on the last day of each month, for the month ending October 31, 2014 as required by Section 7.15(b) of the Credit Agreement.
Specified Default. An Event of Default under Section 8.01(c) of the Credit Agreement as a result of Company’s failure to enter into a final definitive agreement (including exhibits and schedules as applicable) with respect to the sale of all or substantially all of the Credit Parties’ and their Subsidiaries’ business, as required by Section 5.15(a) of the Credit Agreement.
Specified Default. Any Defaults and/or Events of Default arising under Section 10.01(f) of the Credit Agreement solely as a result of the failure to pay interest when due on July 15, 2020 under the Indenture dated June 29, 2018 among Chaparral Energy, Inc., the guarantors party thereto, and UMB Bank, N.A., as trustee, relating to the 8.750% Senior Notes due 2023.
Specified Default. As such term is defined in that certain Forbearance Agreement and Third Amendment dated as of April 13, 2001 by and among the Borrowers, the Guarantors and the Majority Banks.
Specified Default. Each Credit Party acknowledges and agrees that (i) the Specified Default constitutes a material Default or Event of Default that has occurred and is continuing as of the date hereof or may occur during the Second Amendment Period, as the case may be, and (ii) except for the Current Default, no other Events of Default have occurred and are continuing as of the date hereof.