Covenants and Defaults Sample Clauses

Covenants and Defaults. Bank and Borrower hereby acknowledge and agree that (a) Borrower shall not amend, modify or supplement any of the Horizon/DBD Loan Documents (as hereinafter defined) in a manner which would (i) increase the principal amount of Horizon/DBD Loan, (ii) increase any applicable interest rate with respect to the Horizon/DBD Loan by more than 200 basis points (excluding increases based solely on (A) changes to the prime rate or any other index and (B) the imposition of the default rate of interest in accordance with the Horizon/DBD Loan Documents), (iii) change the terms of principal or interest repayment with respect to the Horizon/DBD Loan, (iv) change the payment schedule with respect to the Horizon/DBD Loan, (v) add express conditions that directly restrict the payment of the Obligations, (vi) change the maturity date with respect to the Horizon/DBD Loan from that set forth in the Horizon/DBD Loan Documents in effect as of the Horizon/DBD Loan Documents Execution Date (as defined below), or (vii) change the definition of Collateral set forth in the Horizon/DBD Loan Documents from the definition in effect as of the Horizon/DBD Loan Documents Execution Date (as defined below); (b) the occurrence of a default under the Horizon/DBD Loan Documents (if such default is not waived, or otherwise cured within any applicable grace period provided therein) shall be an Event of Default under the Loan Agreement; and (c) any breach of the Horizon/DBD Subordination Agreement by Horizon and/or DBD shall be an Event of Default under the Loan Agreement (if such breach is not otherwise cured within any applicable grace period).
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Covenants and Defaults. Bank and Borrower hereby acknowledge and agree that (a) Borrower shall not amend, modify or supplement any of the Silver Lake Loan Documents (as hereinafter defined) in a manner which would (i) increase the principal amount of Silver Lake Loan, (ii) increase any applicable interest rate with respect to the Silver Lake Loan by more than 200 basis points (excluding increases based solely on (A) changes to the prime rate or any other index and (B) the imposition of the default rate of interest in accordance with the Silver Lake Loan Documents), (iii) change the terms of principal or interest repayment with respect to the Silver Lake Loan, (iv) change the payment schedule with respect to the Silver Lake Loan, (v) add express conditions that directly restrict the payment of the Obligations, (vi) change the maturity date with respect to the Silver Lake Loan from that set forth in the Silver Lake Loan Documents in effect as of the Silver Lake Loan Documents Execution Date (as defined below), or (vii) change the definition of Collateral set forth in the Silver Lake Loan Documents from the definition in effect as of the Silver Lake Loan Documents Execution Date (as defined below); (b) the occurrence of a default under the Silver Lake Loan Documents (if such default is not waived, or otherwise cured within any applicable grace period provided therein) shall be an Event of Default under the Loan Agreement; and (c) any breach of the Silver Lake Subordination Agreement (as hereinafter defined) by Silver Lake shall be an Event of Default under the Loan Agreement (if such breach is not otherwise cured within any applicable grace period).
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Related to Covenants and Defaults

  • Collections and Defaults The Bank will use reasonable efforts to collect any funds which may to its knowledge become collectible arising from Portfolio Securities, including dividends, interest and other income, and to transmit to the Fund notice actually received by it of any call for redemption, offer of exchange, right of subscription, reorganization or other proceedings affecting such Securities. If Portfolio Securities upon which such income is payable are in default or payment is refused after due demand or presentation, the Bank will notify the Fund in writing of any default or refusal to pay within two business days from the day on which it receives knowledge of such default or refusal.

  • Absence of Violations and Defaults Neither the Company nor any of its Subsidiaries is (A) in violation of its charter, bylaws or similar organizational documents, (B) in default in the performance or observance of any obligation, agreement, covenant or condition contained in any contract, indenture, mortgage, deed of trust, loan or credit agreement, note, lease, license or other agreement or instrument to which the Company or any Subsidiary is a party or by which it is bound or to which any of the properties or assets of the Company or any Subsidiary is subject (collectively, “Agreements and Instruments”), except for such defaults that would not, singly or in the aggregate, result in a Material Adverse Effect, or (C) except as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, in violation of any federal, state, local or foreign statute, rule, regulation or any order, judgment, writ or decree of any arbitrator, court or governmental, regulatory or administrative agency, authority or body or any self-regulatory organization or other non-governmental regulatory authority having jurisdiction over the Company or any of its Subsidiaries or any of their respective properties, assets or operations (each, a “Governmental Entity”), except for such violations that would not, singly or in the aggregate, result in a Material Adverse Effect.

  • Waiver of Defaults and Events of Default (a) The Noteholders of a majority of the Note Balance of the Controlling Class may waive any Default or Event of Default, except an Event of Default (i) in the payment of principal of or interest on any of the Notes (other than an Event of Default relating to failure to pay principal due only by reason of acceleration) or (ii) in respect of a covenant or provision of this Indenture that cannot be amended, supplemented or modified without the consent of all Noteholders.

  • Covenant Defaults If Borrower defaults in the performance or observance of any covenant or agreement in this Agreement, and such default continues for a period of twenty (20) calendar days after the earlier of Borrower's knowledge thereof or receipt of written notice from Lender thereof, except for violations of SECTION 7.08(d), which shall become an Event of Default at the end of the sixty (60) day period stated therein and except for specific Defaults listed elsewhere in this SECTION 9.01, as to which no notice or cure period shall apply unless specified; or

  • No Defaults or Events of Default (a) Since (the date of the last similar certification), and except as set forth in Appendix I, no Default or Event of Default has occurred.

  • Events of Defaults If one or more of the following events ("Events of Default") shall have occurred and be continuing:

  • Waiver of Events of Default The Holders representing at least 66% of the Voting Rights affected by a default or Event of Default hereunder may waive such default or Event of Default; provided, however, that (a) a default or Event of Default under clause (i) of Section 7.01 may be waived only by all of the Holders of Certificates affected by such default or Event of Default and (b) no waiver pursuant to this Section 7.04 shall affect the Holders of Certificates in the manner set forth in Section 11.01(b)(i) or (ii). Upon any such waiver of a default or Event of Default by the Holders representing the requisite percentage of Voting Rights affected by such default or Event of Default, such default or Event of Default shall cease to exist and shall be deemed to have been remedied for every purpose hereunder. No such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon except to the extent expressly so waived.

  • Waiver of Past Defaults and Events of Default Subject to Sections 6.02, 6.08 and 8.02, the Holders of a majority in aggregate principal amount of the Notes then outstanding have the right to waive any existing Default or compliance with any provision of this Indenture or the Notes. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereto.

  • Notification of Defaults and Events of Default Each Lender hereby agrees that, upon learning of the existence of a Default or an Event of Default, it shall promptly notify the Administrative Agent thereof. The Administrative Agent hereby agrees that upon receipt of any notice under this §14.10 it shall promptly notify the other Lenders of the existence of such Default or Event of Default.

  • Events of Default; Waiver The Holders of a Majority in liquidation amount of Preferred Securities may, by vote, on behalf of the Holders of all of the Preferred Securities, waive any past Event of Default and its consequences. Upon such waiver, any such Event of Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Preferred Securities Guarantee, but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon.

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