Default Under Bond Documents Sample Clauses
The "Default Under Bond Documents" clause defines what constitutes a default or breach of obligations under the documents governing a bond issuance. Typically, this clause outlines specific events or failures—such as missed payments, insolvency, or violation of covenants—that trigger a default status. For example, if the issuer fails to pay interest or principal on time, or breaches a financial covenant, these actions would be considered defaults under this clause. Its core practical function is to clearly identify the circumstances that allow bondholders or trustees to take remedial actions, such as accelerating repayment or enforcing security, thereby protecting the interests of the bondholders and ensuring accountability from the issuer.
Default Under Bond Documents. An Event of Default (as defined therein) shall occur under any Bond Document and such default continues beyond any grace period provided therein;
Default Under Bond Documents. The occurrence of a default or an event of default under the Credit Agreement of even date herewith, between the Borrower and the Bank relating to the Pinellas County Industrial Development Authority Industrial Revenue Bonds (Bovie Medical Corporation Project) Series 2008 (the "Bonds"), or any other documents executed in connection therewith or with the Bonds (collectively, the "Bond Documents") which remains uncured after the expiration of any applicable grace or cure period.