Limited Recourse Event of Default definition

Limited Recourse Event of Default shall have the meaning given to such term in Section 17.12 of the Lease.
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Limited Recourse Event of Default means each Event of Default described on Schedule 1.02(c), attached hereto and made a part hereof.
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Limited Recourse Event of Default means: ---------------------------------
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Examples of Limited Recourse Event of Default in a sentence

  • The same right of taking possession, however, shall exist if any subsequent Event of Default (other than a Limited Recourse Event of Default) shall occur and be continuing.

  • Lessee may not elect the Sale Option if there exists on the date the election is made a Default (other than a Limited Recourse Default), an Event of Default (other than a Limited Recourse Event of Default), Significant Environmental Event, Significant Casualty or Significant Condemnation.

  • Upon termination of the Lease and delivery of possession of the Subject Property to Lessor pursuant to Article XVI (as a result of a Limited Recourse Event of Default only) or Article XX of the Lease or to a third party, the Lessee shall have no further obligation to perform obligations under the Related Agreements pursuant to this paragraph.

  • In the event any Property is remarketed by Lessor after the occurrence and solely as a result of a Limited Recourse Event of Default, then Lessee shall have a nonexclusive right to deliver bids for the purchase of any Property to Lessor for one hundred twenty (120) days commencing on the date the applicable Limited Recourse Event of Default occurred (such period the "LRED Period").


More Definitions of Limited Recourse Event of Default

Limited Recourse Event of Default means any of the following Events of Default:
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Limited Recourse Event of Default shall have the meaning given to such term in Section 17.12 of the Lease. “LLC Interests” shall have the meaning given to such term in Section 6.1(c) of the Participation Agreement. “Majority Secured Parties” shall mean at any time the Lessor Parties (other than any Defaulting Lessor Party) whose Lessor Advances outstanding represent at least fifty-one percent (51%) of (a) the aggregate Lessor Advances outstanding or (b) to the extent there are no Lessor Advances outstanding, the aggregate Lessor Parties Commitment. “Marketing Period” shall mean, if the Lessee has given a Sale Notice in accordance with Section 20.1 of the Lease, the period commencing on the date such Sale Notice is given and ending on the Expiration Date. “Material Adverse Effect” shall mean any set of circumstances or events which: (a) has or could reasonably be expected to have any material adverse effect upon the validity or enforceability of the Participation Agreement or any other Operative Agreement; (b) is or could reasonably be expected to be material and adverse to the business, operations, properties, assets, or financial condition of the Credit Parties taken as a whole; (c) impairs materially or could reasonably be expected to impair materially the ability of the Credit Parties taken as a whole to duly and punctually pay or perform their Indebtedness or any of their respective obligations under the Operative Agreements; (d) impairs materially or could reasonably be expected to impair materially the ability of the ABL Credit Agreement Administrative Agent, any of the ABL Credit Agreement Banks or any of the Financing Parties, to the extent permitted, to enforce their legal remedies pursuant to the ABL Credit Agreement Loan Documents (in the case of the ABL Credit Agreement Administrative Agent or any of the ABL Credit Agreement Banks) or pursuant to the Participation Agreement or any other Operative Agreement (in the case of any of the Financing Parties); (e) impairs materially or could reasonably be expected to impair materially the validity, priority or enforceability of any Lien on the Property created by any of the Operative Agreements; or (f) impairs materially or could reasonably be expected to impair materially the value, utility or useful life of the Property, which has caused or could reasonably be expected to cause a diminution of the fair market value of the Property of ten percent (10%) or more from the then-current fair market value of the Property, or the use, or abi...
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Related to Limited Recourse Event of Default

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • 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.

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.