Specified Event of Default definition
Examples of Specified Event of Default in a sentence
If the Borrowers are required to provide an amount of cash collateral hereunder as a result of the occurrence and during the continuance of a Specified Event of Default or acceleration of the maturity of the Loans and/or termination of the Commitments, such amount (to the extent not applied as aforesaid) shall be returned to the Borrowers within three Business Days after all such Events of Default have been cured or waived.
A Responsible Officer of the Parent Borrower may redesignate any Excluded Project Subsidiary (including, for the avoidance of doubt, any Hurricane Subsidiary) to be a Restricted Subsidiary that is not an Excluded Project Subsidiary or an Unrestricted Subsidiary if that redesignation would not cause a Specified Event of Default.
A Responsible Officer of the Parent Borrower may redesignate any Unrestricted Subsidiary to be a Restricted Subsidiary if that redesignation would not cause a Specified Event of Default.