Anticipated Events of Default definition

Anticipated Events of Default means any Default or Event of Default arising from the Borrower’s anticipated failure to comply with the financial covenants set forth in Section 8.15(a) and Section 8.15(b) of the Credit Agreement for the Fiscal Years ending December 31, 2012, December 31, 2013, December 31, 2014 and December 31, 2015, each of the fiscal quarters ended within such Fiscal Years, and the fiscal quarters ended on or about March 31, 2016 and June 30, 2016.
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Anticipated Events of Default shall be deemed to include the Anticipated Maturity Date Default, the Second Fee Payment Default, the OHI Subordinated Debt Default and the Solvency Default. Notwithstanding anything herein to the contrary, the Second Additional Fee will be fully earned on December 20, 2009.
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Anticipated Events of Default shall have the meaning specified in the Preliminary Statements.
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Examples of Anticipated Events of Default in a sentence

  • Nothing herein shall constitute a waiver of the Anticipated Events of Default, as such term is defined in the Forbearance Agreement.

  • At the end of the Amendment Extension Period, the Limited Waiver and Amendment Extension shall terminate and the Anticipated Events of Default shall, effective as of the end of the Amendment Extension Period, immediately constitute Events of Default under Article IX under the Agreement without the requirement of further notice or an opportunity to cure, and Agent and Lenders shall be entitled to immediately exercise all of their respective rights and remedies under the Loan Documents and applicable law.

  • Upon occurrence of the effective date of the proposed joint prepackaged chapter 11 plan of reorganization contemplated by the Restructuring Support Agreement (the “Plan Effective Date”) and the consummation of the First Lien Exit Facility (as defined in the Restructuring Support Agreement), the Anticipated Events of Default shall be deemed to have been waived by the Collateral Agent and the Hedge Providers.

  • The Loan Parties hereby (a) acknowledge that the Anticipated Events of Default are expected to occur; (b) acknowledge their Obligations under the Credit Agreement and Loan Documents; (c) reaffirm that each of the Liens and security interests created and granted in, or pursuant to the Credit Agreement and Loan Documents is valid and subsisting; and (d) acknowledge that this Agreement shall in no manner impair or otherwise adversely affect such Obligations, Liens or security interests.

  • The Borrower acknowledges that neither the Administrative Agent, any Issuing Bank nor any Lender has made any assurances concerning (i) any possibility of an extension of the Forbearance Period; (ii) the manner in which or whether the Anticipated Events of Default may be resolved; or (iii) any additional forbearance, waiver, restructuring or other accommodations.

  • Each Borrower further acknowledges (and has so advised the Second Lien Administrative Agent) that it anticipates that it may fail during the Forbearance Period (as defined herein) to comply with the provisions of the Second Lien Credit Agreement as set forth under the heading "Anticipated Events of Default" on Exhibit B hereto (collectively, the "Anticipated Events of Default" and together with the Current Events of Default, the "Existing Events of Default").

  • Pursuant to the terms and conditions set forth in the Second Amendment Extension Letter, the Agent and the Lenders temporarily waived the Anticipated Events of Default through and including January 29, 2010 (unless otherwise extended to February 12, 2010 by Agent pursuant to Section 2B of the Second Amendment Extension Letter).

  • No Event of Default under the Credit Agreement (other than the Existing Events of Default and Anticipated Events of Default) shall have occurred and be continuing or will result from the consummation of the transactions contemplated by this Agreement.

  • No consent or waiver, express or implied, by Administrative Agent and Lenders to or for any breach of or deviation from any covenant, condition, or duty by Borrower or any Guarantor, including the waiver of the Existing Events of Default and Anticipated Events of Default, shall be deemed a consent or waiver to or of any other breach of the same or any other covenant, condition, or duty set forth in the Credit Agreement or the other Loan Documents.

  • Each Obligor acknowledges that neither the Collateral Agent nor any Hedge Provider has made any assurances concerning (i) any possibility of an extension of the Forbearance Period; (ii) the manner in which or whether the Anticipated Events of Default may be resolved; or (iii) any additional forbearance, waiver, restructuring or other accommodations.

Related to Anticipated Events of Default

  • Events of Default has the meaning specified in Section 6.01.

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

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

  • 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).

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).