Core Collateral Failure definition

Core Collateral Failure means, as of any date of determination, the failure of the Collateral to include at least one category of Core Collateral as of such date.
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Core Collateral Failure means, as of any date of determination following the date that is 30 days after the Closing Date, the Collateral not including the Core Collateral as of such date.
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Core Collateral Failure means an Event of Default arising by reason of a breach by the Borrower of Section 5.09(a)(8).
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Examples of Core Collateral Failure in a sentence

  • So long as any Loans or Letters of Credit are outstanding (other than such as have been Cash Collateralized or covered by a “back-to-back” letter of credit in accordance with the terms of the Loan Documents), the Borrower shall not permit any Core Collateral Failure to occur.

  • If, as of any Reference Date, it is determined that a Core Collateral Failure has occurred as a result of a Disposition that is voluntary or a release of First Lien Collateral from the Pari Passu Lien of the Collateral Trustee requested by the Company or any other Grantor, it will be deemed to constitute a failure to comply with a covenant or agreement as contemplated by clause (3) under Section 6.01 hereof.

  • If, as of any Reference Date, it is determined that a Core Collateral Failure has occurred as a result of a Disposition that is voluntary or a release of Collateral from the Pari Passu Lien of the Collateral Agent requested by the Company or any other Grantor, it will be deemed to constitute a failure to comply with a covenant or agreement as contemplated by clause (3) under Section 6.01 hereof.

  • If, as of any Reference Date, it is determined that a Core Collateral Failure has occurred as a result of a Disposition that is voluntary or a release of Collateral from the Pari Passu Lien of the Collateral Trustee requested by the Company or any other Grantor, it will be deemed to constitute a failure to comply with a covenant or agreement as contemplated by clause (3) under Section 6.01 hereof.


More Definitions of Core Collateral Failure

Core Collateral Failure shall have the meaning set forth in the Revolving Credit Agreement and shall include any analogous term in any subsequent Revolving Credit Agreement.
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Core Collateral Failure means, as of any date of determination, the failure of the LGA/DCA Collateral to include the Core Collateral as of such date.
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Core Collateral Failure means, as of any date of determination, if the Revolving Priority Collateral does not include the Core Collateral as of such date.
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Related to Core Collateral Failure

  • Transaction Failure means the failure to consummate a Business Combination within 18 months of the Effective Date (or 24 months after the Effective Date, if a letter of intent, agreement in principle or definitive agreement has been executed within 18 months after the Effective Date and the Business Combination relating thereto has not yet been consummated within such 18-month period).

  • Threshold Event Collateral shall have the meaning assigned to such term in Section 5(g).

  • MI Failure means when an MI report: a) contains any material errors or material omissions or a missing mandatory field; or b) is submitted using an incorrect MI reporting Template; or c) is not submitted by the reporting date(including where a Nil Return should have been filed);

  • Transaction Failure Date means the 18-month anniversary of the Effective Date (or the 24 month anniversary of the Effective Date, if a letter of intent, agreement in principle or definitive agreement has been executed within 18 months after the Effective Date and the Business Combination relating thereto has not yet been consummated within such 18-month period).

  • S&P Collateral Value With respect to any Defaulted Obligation or Long Dated Obligation, the lesser of (i) the S&P Recovery Amount of such Defaulted Obligation or Long Dated Obligation, as applicable, as of the relevant Measurement Date and (ii) the Market Value of such Defaulted Obligation or Long Dated Obligation, as applicable, as of the relevant Measurement Date.