Notes Default definition
Examples of Notes Default in a sentence
Result Points Possible Points Earned 50 10 0 0 Measure 1d Default Notes Default Meets Standard: School is not in default of financial obligations.
The Borrower has informed the Administrative Agent of the existence of the Kanas Notes Default and now seeks a waiver by the Lenders of the Event of Default which exists as a result thereof under Section 8.01(h) of the Credit Agreement (the "Kanas Default").
On-Loan, the High Yield Notes Assignment of On-Loan and/or the High Yield Notes Second Ranking Charge enforcement) in relation to a Relevant High Yield Notes Default even if, at the end of any relevant High Yield Notes Standstill Period or at any later time, a further High Yield Notes Standstill Period has begun as a result of any other High Yield Notes Default.
Promptly upon becoming aware of a HY Notes Default, any HY Noteholders Trustee may by notice (a "HY Notes Default Notice") in writing notify the Applicable Representative of the existence of such HY Notes Default.
An Event of Default is defined in the Indenture generally as: Default for 30 days in payment of interest on the Promissory Notes or the Promissory Notes; Default in payment of Principal on them; failure by the Company for 30 days after notice to it to comply with any of its other agreements in the Indenture or the Promissory Notes or the Promissory Notes; certain events of bankruptcy or insolvency of the Company or any of its Subsidiaries; and certain Defaults on other indebtedness.
All amounts payable by Pledgor under this Section 11 shall be due upon immediate demand, shall bear interest from the date advanced to the date of repayment thereof at a rate of 2% in excess of the highest rate payable under the Notes ("Default Rate"), and shall be part of the Secured Obligations.
The Notes Creditors may take Enforcement Action under Clause 5.3 (Permitted enforcement) in relation to a Relevant Notes Default even if, at the end of any relevant Notes Standstill Period or at any later time, a further Notes Standstill Period has begun as a result of any other Notes Default.
At each meeting of the Board, the Chairman or, in the absence of the Chairman, the Vice Chairman or, in the absence of or if there is no Vice Chairman, the Chief Executive Officer or, in the absence of the Chairman, the Vice Chairman and the Chief Executive Officer, another Director selected by the Board shall preside.
An Event of Default specified in clause (b) above shall be cured and of no further effect if Holdings “tops up” the Notes Escrow Account to the then required Notes Escrow Amount prior to the 365th day after the delivery by the Trustee to the Credit Facility Agent of a Notes Default Notice with respect to such Event of Default.
If the Series A Notes (including all accrued and unpaid interest and fees thereon) are not paid in full on or prior to December 31, 1998, then commencing on December 31, 1998 and on the last day of each calendar month thereafter until such time as the Series A Notes shall have been so paid in full, the Company will deliver to the holders of the Series A Notes Default Warrants for 70,000 Common Shares.