Actionable Event of Default definition

Actionable Event of Default means an Event of Default specified in clause (a), (b), (h), (i) or (j) of Section 7.01 of the Credit Agreement.
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Actionable Event of Default means, at any time, an Event of Default under, and as defined in, the Secured Document for a Series of Secured Obligations if at such time the Authorized Representative for such Secured Document is the Applicable Authorized Representative.
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Actionable Event of Default means any event of default under, and as defined in, (with respect to the Banks) the Bank Documents and (with respect to the Noteholders) the Noteholder Documents, in either case, after all required notices have been given and grace periods and cure periods have elapsed or run with respect thereto and after the Bank Debt or Noteholder Debt, as the case may be, has been declared or otherwise has become immediately due and payable prior to its scheduled maturity.
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Examples of Actionable Event of Default in a sentence

  • Upon such an Actionable Event of Default, the Collateral Agent will be entitled to foreclose upon and sell the Collateral or any part thereof as provided in the Security Documents.

  • Unless it has been directed to the contrary by an Act of the Applicable Authorized Representative, the Collateral Agent may (but shall not be obligated to) take or refrain from taking such action with respect to such Actionable Event of Default as the Collateral Agent may deem advisable and in the best interest of the holders of Secured Obligations.

  • The proceeds from any sale (whether through a foreclosure proceeding or Mortgagee’s exercise of the power of sale or otherwise), the application of Rents collected during the continuation of any Actionable Event of Default, or any other enforcement action taken by Mortgagee hereunder shall be distributed and applied in accordance with the terms of the Collateral Agency and Intercreditor Agreement.

  • No delay in the exercise or omission to exercise any remedy or right accruing hereunder shall impair any such remedy or right (so long as such Actionable Event of Default is continuing) or be construed to be a waiver of any such Actionable Event of Default or acquiescence therein, or rights with respect to such Actionable Event of Default, nor shall it affect any subsequent Actionable Event of Default of the same or different nature.

  • Upon such Actionable Event of Default, the Collateral Agent will be entitled to foreclose upon and sell the Collateral or any part thereof as provided in the Transaction Documents.

  • All future Leases made after the effective date of this Mortgage shall include commercially reasonable provisions requiring the lessees thereunder, at Mortgagee’s option and without any further documentation, to attorn to Mortgagee as lessor if for any reason Mortgagee becomes lessor thereunder, and to pay rent to Mortgagee during the continuance of an Actionable Event of Default, upon and following notice thereof.

  • If, at the time of receipt of proceeds in respect of the Key-Person Policy, an Actionable Event of Default shall exist and enforcement and/or foreclosure actions are being or will be undertaken in respect of the Collateral, the proceeds of the Key-Person Policy shall be paid and distributed by the Noteholder Agent as provided for in Section 3 hereof.

  • If any Obligation is not paid or performed for any reason whatsoever, including upon demand by the Administrative Agent after the occurrence and during the continuance of an Actionable Event of Default, the Administrative Agent may demand forthwith from the Guarantor the total amount of such Obligation.

  • If an Actionable Event of Default shall have occurred and be continuing and the Collateral Agent shall have given notice to the Lien Grantors that it elects to exercise the remedies provided in Section 12, such Lien Grantor will promptly give to the Collateral Agent copies of any notices and other communications received by it with respect to Pledged Securities that are Equity Interests and registered in the name of such Lien Grantor or its nominee.

  • Unless an Actionable Event of Default shall have occurred and be continuing and the Collateral Agent shall have notified such Lien Grantor that it elects to exercise the remedies provided in this Section 10, the Collateral Agent will have no right to take any action which the owner of a Pledged Partnership Interest or Pledged LLC Interest is entitled to take with respect thereto, except the right to receive payments and other distributions to the extent provided herein.


More Definitions of Actionable Event of Default

Actionable Event of Default as used herein shall have the meaning ascribed to such term pursuant to the Collateral Agency and Intercreditor Agreement.
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Actionable Event of Default has the meaning set forth in the Loan and Collar Agreement.
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Actionable Event of Default means an Event of Default specified in clause (a), b), (h), (i) or (j) of Section 7.01 of the Credit Agreement.
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Actionable Event of Default shall have the same meaning as Applicable Event of Default under the Master Guarantee and Collateral Agreement.
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Actionable Event of Default means an Event of Default that has occurred and is continuing under Section 8(b) of this Agreement.
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Related to Actionable Event of Default

  • PTC Event of Default Means any failure to pay within 10 Business Days of the due date thereof: (i) the outstanding Pool Balance on the Final Legal Distribution Date or (ii) interest due on the Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or Drawings (as defined in the Intercreditor Agreement), or a withdrawal or withdrawals pursuant to Section 3.6(f) of the Intercreditor Agreement, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee).

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

  • Material Event of Default means any Event of Default arising under Section 10.01(a), 10.01(b) (solely with respect to a default related to Section 8.01, 8.20 or 9.13), 10.01(f), 10.01(i), 10.01(j), 10.01(n) or 10.01(o).

  • Event of Default has the meaning specified in Section 8.01.

  • Potential Issuer Event of Default means any condition, event or act which, with the lapse of time and/or the issue, making or giving of any notice, certification, declaration, demand, determination and/or request and/or the taking of any similar action and/or the fulfilment of any similar condition, would constitute an Issuer Event of Default;