Existing Default definition

Existing Default has the meaning specified in Section 2.01 hereof.

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Existing Default and “Existing Defaults” have the meanings specified in Section 2 hereof.

Existing Default a Default which has occurred and is continuing, or an Event of Default which has occurred, and which has not been waived in writing by Lender.

Examples of Existing Default in a sentence

There shall be no Existing Default and no Default or Event of Default will occur as a result of such Advance being requested or made or the application of the proceeds thereof.
There shall be no Existing Default and no Default or Event of Default is reasonably likely to occur as a result of such Letter of Credit being issued or a draw thereon being made or paid.
Bank hereby waives Borrower’s Existing Default under the Loan Agreement.
The execution, delivery and effectiveness of this Agreement shall not and does not operate as a waiver of any right, power or remedy of Administrative Agent or the Lenders under the Loan Agreement or any of the other Loan Documents, nor constitute a waiver of any provision of the Loan Agreement or any of the other Loan Documents or any Existing Default or Event of Default.
Upon the terms and subject to the conditions set forth in this Amendment, the Lender hereby waives the Existing Default.

More Definitions of Existing Default

Existing Default means, as of any date, an Event of Default which has occurred and is continuing as of such date.

Existing Default is defined in Section 12.19.

Existing Default means any default or potential default under any Existing Transaction Document that has occurred prior to the Restructuring Effective Date;

Existing Default means any Default that may exist on the Effective Date under Section 8.01(b) of the Credit Agreement solely to the extent arising by reason of breach of Sections 7.11(b) and 7.11(d) as of January 31, 2009.

Existing Default means the Event of Default existing on this date under Section 8.01(c) of the Credit Agreement as a consequence of a breach of the negative covenant set forth at Section 7.13 of the Credit Agreement solely for the quarter ended September 30, 1996.

Existing Default has the meaning set forth in the Preliminary Statements.

Existing Default shall have the meaning set forth in the recitals.

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