Underlying Event of Default definition

Underlying Event of Default. Means "Event of Default" as defined in the Underlying Agreement.
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Underlying Event of Default. An event of default under an Underlying Agreement.
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Underlying Event of Default. Means an “Event of Default” as defined in the Underlying Indenture.
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Examples of Underlying Event of Default in a sentence

  • If the Trustee shall gain actual knowledge of any Underlying Event of Default, the Trustee shall promptly notify the Certificateholders and the Depositor of such occurrence and such parties shall proceed in accordance with the terms and conditions of Section 3.1.

  • If the Trustee shall gain actual knowledge of any Underlying Event of Default, the Trustee shall promptly notify the Certificateholders and the Depositor of such occurrence and such parties shall proceed in accordance with the terms and conditions of Section 3.01.

  • If a responsible officer of the Trustee shall gain actual knowledge of any Underlying Event of Default, the Trustee shall promptly notify the applicable Certificateholders and the Seller of such occurrence and such parties shall proceed in accordance with the terms and conditions of Section 3.01.

  • If an Underlying Event of Default occurs under the related Pooling and Servicing Agreement, the Trustee, in its capacity as an Underlying Certificateholder, may take such action in connection with the enforcement of any rights and remedies available to it in such capacity with respect thereto and only in accordance with the written directions of Holders of Certificates entitled to at least 51% of the Voting Rights.

  • If the Trustee shall gain actual knowledge of any Underlying Event of Default, the Trustee shall promptly notify the Certificateholders and the Seller of such occurrence and such parties shall proceed in accordance with the terms and conditions of Section 3.01.

  • If the Trustee shall gain actual knowledge of any Underlying Event of Default, the Trustee shall promptly notify the applicable Certificateholders and the Seller of such occurrence and such parties shall proceed in accordance with the terms and conditions of Section 3.01.


More Definitions of Underlying Event of Default

Underlying Event of Default. “Event of Default” as defined in each Underlying Agreement.
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Underlying Event of Default means an event of the nature described in Condition 18(a)(iv) to (x) as if for such purposes references therein were to the issuer of any class of Equity Share Capital comprised in the Exchange Property and any of its subsidiaries.To exercise its Share Settlement Option, the Issuer shall give a notice to such effect (the “Share Settlement Option Notice”) to the Bondholders in accordance with Condition 22 and to the Trustee, the Principal Paying, Transfer and Exchange Agent and the Calculation Agent. The Share Settlement Option Notice shall be given not more than 60 nor less than 45 Barcelona business days prior to the Maturity Date in the case of a redemption of Bonds pursuant to Condition 14(a), or not less than 42 days prior to the Optional Put Date in the case of a redemption pursuant to Condition 14(d)(i).A Share Settlement Option Notice shall specify the Relevant Percentage, which shall apply in respect of each Bond.The Issuer may not exercise the Share Settlement Option in respect of a redemption of Bonds if a Knock-out Event (as defined below) shall have occurred on or prior to the date the Share Settlement Option Notice is given (and, if given, any such exercise of the Share Settlement Option shall be null and void).Where the Issuer shall have exercised the Share Settlement Option the Issuer shall, in lieu of redeeming the relevant Bonds in cash, effect redemption in respect of the Bonds by:
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Underlying Event of Default. The occurrence or continuance of any event of default under a Pooling and Servicing Agreement by any party responsible thereunder for servicing or for administration of the underlying trust fund, or for calculations and distributions of amounts payable to Underlying Certificateholders.
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Related to Underlying Event of Default

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Owner Event of Default has the meaning specified in Section 16.2.

  • Event of Default wherever used herein, means any one of the following events (whatever the reason for such 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):

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

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

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

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Specified Event of Default means any Event of Default under Section 8.01(a), (f) or (g).

  • Debenture Event of Default means an "Event of Default" as defined in the Indenture.

  • 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.

  • Senior Event of Default means an Event of Default under (and as defined in) the Senior Facilities Agreement.

  • 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.

  • Mortgage Loan Event of Default means an “Event of Default” as defined in the Mortgage Loan Agreement.

  • Company Event of Default bears the meaning ascribed thereto in Section 13.1; “Company Notice of Default” bears the meaning ascribed thereto in Section 13.2;

  • Potential Issuer Event of Default means any condition, event or act which, with the lapse of time and/or the issue, making or giving of any notice, certification, declaration, demand, determination and/or request and/or the taking of any similar action and/or the fulfilment of any similar condition, would constitute an Issuer Event of Default;

  • Material Event of Default means any Event of Default arising under Section 10.01(a), 10.01(b) (solely with respect to a default related to Section 8.01, 8.20 or 9.13), 10.01(f), 10.01(i), 10.01(j), 10.01(n) or 10.01(o).

  • Indenture Event of Default means an "Event of Default" as defined in the Indenture.

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • Bond Event of Default means the occurrence of any of the following (or such event or condition which with notice or lapse of time or both would constitute any of the following):

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • Servicer Event of Default wherever used herein, means any one of the following events:

  • Insurance Agreement Event of Default means an "Event of Default" as defined in the Insurance Agreement.

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.