Default Conditions definition

Default Conditions or "Default Condition" means the occurrence of any of the events specified in Section 8.03 hereof.
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Default Conditions or "Default Condition" means the occurrence of any of the events specified in Section 8.04 hereof.
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Default Conditions. Usual including the following:
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Examples of Default Conditions in a sentence

  • No Default Conditions hereunder have occurred or are continuing as of the date hereof.

  • No Default Conditions hereunder have occurred or are continuing as of the date hereof or at the Closing Date.

  • If Licensee fails to cure, or commence good faith efforts to cure, said Default Condition(s) within the Cure Period, as determined by Licensor in Licensor’s sole but reasonable discretion, this Agreement shall be deemed terminated upon expiration of the Cure Period and all permissions, rights, privileges and licenses granted herein shall cease to exist between the Parties.

  • Borrower, within ten (10) days after written request from Lender, will furnish a written statement in form satisfactory to Lender, duly acknowledged, (i) setting forth the unpaid principal balance of, and interest and other sums due on, the Credit Facility, (ii) stating whether or not any offsets or defenses exist against payments due under the Loans, and (iii) stating whether there are then in existence any Events of Default or Default Conditions known to Borrower.

  • The Parties intend that in the effort to avoid Material Default, the provisions of this Paragraph 16.1 shall be utilized before notice of Material Default Conditions is provided pursuant to Paragraph 16.2.

  • If Landlord determines that the Default Conditions and the [***] Condition have been satisfied, Landlord shall so notify Tenant, whereupon Tenant shall provide Landlord with a substitute Letter of Credit in the reduced amount and otherwise satisfying the conditions of Section 26, or an amendment to the Letter of Credit reducing it to the reduced amount.

  • Licensor shall deliver written notice to Licensee of Licensor’s intent to terminate this Agreement pursuant hereto and shall include a description of the Default Condition(s) that Licensor believes are occurring, as well as a reasonable period of time, no less than ten (10) days, within which Licensee shall correct the Default Condition(s) (“Cure Period”).

  • May have a specific list of conditions which are therein described as Default Conditions and specific Remedies.

  • Upon Outback’s request, Borrowers shall provide Outback with a written certification, certifying to such matters related to the Loans as Outback may request, including, but not limited to, a statement that Borrowers are not in Default and that no Default Conditions have occurred.

  • If Landlord determines that the Default Conditions, the [***] Condition and the Market Cap Condition have been met, Landlord shall so notify Tenant, whereupon Tenant shall provide Landlord with a substitute Letter of Credit in the reduced amount and otherwise satisfying the conditions of Section 26, or an amendment to the Letter of Credit reducing it to the applicable reduced amount.

Related to Default Conditions

  • Step Down Conditions As of any Distribution Date on which any decrease in any Senior Prepayment Percentage may apply, (i) the outstanding Principal Balance of all Mortgage Loans 60 days or more Delinquent (including Mortgage Loans in REO and foreclosure), averaged over the preceding six month period, as a percentage of the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates on such Distribution Date, does not equal or exceed 50% and (ii) cumulative Realized Losses with respect to all of the Mortgage Loans do not exceed: · for any Distribution Date on or after the seventh anniversary until the eighth anniversary of the first Distribution Date, 30% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the eighth anniversary until the ninth anniversary of the first Distribution Date, 35% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the ninth anniversary until the tenth anniversary of the first Distribution Date, 40% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the tenth anniversary until the eleventh anniversary of the first Distribution Date, 45% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, and · for any Distribution Date on or after the eleventh anniversary of the first Distribution Date, 50% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date.

  • Termination Conditions means, collectively, (a) the payment in full in cash of the Obligations (other than (i) contingent indemnification obligations not then due and (ii) Obligations under Secured Hedge Agreements and Secured Cash Management Agreements) and (b) the termination of the Commitments and the termination or expiration of all Letters of Credit under this Agreement (unless the Outstanding Amount of the L/C Obligations related thereto has been Cash Collateralized on terms reasonably acceptable to the applicable Issuing Bank, backstopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank or deemed reissued under another agreement reasonably acceptable to the applicable Issuing Bank).

  • Payment Conditions means, at the time of determination with respect to any specified transaction or payment, that:

  • LC Conditions has the meaning given to such term in Section 2.9.

  • Extension Conditions Defined in Section 3.06(a).