Default or Event of Default definition

Default or Event of Default. Default" or "Event of Default" shall --------------------------- have the meaning set forth in Section 13.
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Default or Event of Default. One or more of the events or occurrences set forth in Article X below.
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Default or Event of Default shall have the meaning given such term in Section 7.2 hereof.
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Examples of Default or Event of Default in a sentence

  • Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and any right to proceed thereafter as provided in Article V.

  • No such amendment or waiver will extend to or affect any obligation, covenant, agreement, Default or Event of Default not expressly amended or waived or impair any right consequent thereon.

  • No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the extensions of credit requested to be made on such date.

  • Where this Indenture provides for notice to the Rating Agencies, failure to give such notice shall not affect any other rights or obligations created hereunder, and shall not under any circumstance constitute a Default or Event of Default.

  • Upon any such waiver, such Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

  • No Default or Event of Default shall have occurred and be continuing.

  • The Trustee may withhold from Holders of the Notes notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal or interest) if it determines that withholding notice is in their interest.

  • Upon any such waiver the Company, the Trustee and the Holders of the Notes shall be restored to their former positions and rights hereunder; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon.

  • The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

  • Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 6.09, said Default or Event of Default shall for all purposes of the Notes and this Indenture be deemed to have been cured and to be not continuing; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon.


More Definitions of Default or Event of Default

Default or Event of Default means if: (a) the Borrower does not pay on the due date any amount payable by it under this agreement in the manner required, unless the non-payment is caused by technical or administrative error and is remediated within 3 business days of the due date; (b) the Borrower does not fulfill one of the Financial Parameters set out in this agreement; (c) any representation, warranty, covenant, undertaking or statement made by the Borrower in this agreement or any certificate, statement or opinion delivered or made hereunder or in connection herewith, is incorrect or inaccurate in any material respect when made; (d) the Borrower fails duly to perform or observe any provision of this agreement and such failure, if capable of remedy shall continue for 30 days after the Lender has given Borrower notice of such failure; (e) any financial indebtedness for or in respect of moneys borrowed in excess of USD 500,000 in the aggregate or the equivalent thereof in any other currency is not paid when due after expiry of any applicable grace period or the Borrower declares a general moratorium on the payment of indebtedness; (f) the Borrower suspends its operations in view of an impending insolvency or similar situation or ceases to act substantially in its current capacity in view of an impending insolvency or takes any corporate action or other steps, or commences legal proceedings for its winding-up, dissolution, administration or re-organization (being a re-organization in the context of a bankruptcy, insolvency or similar situation) or for the appointment of a receiver, trustee or similar officer of it or all of its revenues or assets; (g) the Borrower announces its inability to meet its financial obligations or bankruptcy or other insolvency proceedings are instigated against the Borrower and have not been discharged or stayed within 60 days of the date of their instigation or the Borrower applies for or institutes such proceedings or offers to make an arrangement for the benefit of its creditors generally; (h) any governmental or other consent, license or authority required to make this agreement legal, valid, binding, enforceable and admissible in evidence or required to enable the Borrower to perform its obligations hereunder is withdrawn or ceases to be in full force and effect; (i) it is or becomes unlawful for the Borrower to perform any of its obligations under this agreement; (j) the general partner of the Borrower ceases to be, directly or indirectly, owned or c...
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Default or Event of Default means any event, condition, omission, or act, upon the occurrence of which a Creditor has the right, under its respective Credit Documents, to exercise rights and remedies provided therein, including commencement of an enforcement action with respect to all or any portion of the Collateral securing such Creditor’s Credit Facility.
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Default or Event of Default wherever used in the Original Guaranty is hereby deleted and replaced with the following: "Default or Event of Default".
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Default or Event of Default means if:
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Related to Default or 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).

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.

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

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Issuer Event of Default means the occurrence of any of the following events: