Events of Default and Unmatured Events of Default Sample Clauses

Events of Default and Unmatured Events of Default. Under Section 4.15 of the Credit Agreement, the Borrower agreed not to permit its Leverage Ratio to be greater than 10 to 1 at any time. The Borrower has informed the Agent and the Lenders that its Leverage Ratio was greater than 10 to 1 at certain times from and after January 1, 2001 to March 31, 2001. As a result, an Event of Default has occurred under Section 6.01(c) of the Credit Agreement.
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Events of Default and Unmatured Events of Default. (a) Under Section 6.15 of the Credit Agreement, the Borrower agreed not to permit its Consolidated Net Worth at any time to be less than the sum of $45,000,000 plus 25% of its cumulative positive Consolidated Net Income arising after December 31, 1999. Beginning on December 31, 2000, the Borrower's Consolidated Net Worth was less than the sum of $45,000,000 plus 25% of its cumulative positive Consolidated Net Income arising after December 31, 1999. As a result, an Event of Default has occurred under Section 7.1(c) of the Credit Agreement.
Sample 1
Events of Default and Unmatured Events of Default. The Borrower defaulted under Section 8.18 of the Credit Agreement by (i) permitting its Consolidated Net Income to be less than $500,000 as at March 31, 2000 for the fiscal quarter ended on that date, and (ii) permitting its Consolidated Net Income to be less than $750,000 as at June 30, 2000 for the fiscal quarter ended on that date.
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Events of Default and Unmatured Events of Default. The Administrative Agent shall not be deemed to have knowledge of the occurrence of an Event of Default or of an Unmatured Event of Default (other than the non-payment to it of commitment fees or principal of or interest on Loans) unless the Administrative Agent has received notice from a Bank or the Company specifying such Event of Default or Unmatured Event of Default and stating that such notice is a “Notice of Event of Default or Unmatured Event of Default.” The Administrative Agent shall (subject to Section 13.6(b)) (a) in the case of an Event of Default take any or all of the actions referred to in Section 12.2(b) if so directed by the Required Banks, and (b) in the case of any Event of Default or Unmatured Event of Default, take such other action with respect to such Event of Default or Unmatured Event of Default as shall be reasonably directed by the Required Banks; provided, that, unless and until the Administrative Agent shall have received such directions, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Event of Default or Unmatured Event of Default as it shall deem advisable in the best interests of the Banks.
Sample 1
Events of Default and Unmatured Events of Default. Under Section 6.16 of the Credit Agreement, the Borrower agreed not to permit EBT, calculated on a cumulative basis for the two preceding fiscal quarters, to be less than $0.00 as of the last day of any fiscal quarter (commencing with the last day of the fiscal quarter ending on or about October 31, 2002). The Borrower has advised the Agent that its EBT, as of April 30, 2003 was, and as of July 31, 2003 will be, less than $0.00, in each case calculated on a cumulative basis for the two preceding fiscal quarters.
Sample 1
Events of Default and Unmatured Events of Default 
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Related to Events of Default and Unmatured Events of Default

  • Events of Default If any of the following events (“Events of Default”) shall occur:

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

  • Notice of Defaults and Events of Default As soon as possible and in any event within five (5) days after the occurrence of each Default or Event of Default, a written notice setting forth the details of such Default or Event of Default and the action which is proposed to be taken by the Borrower with respect thereto;

  • Events of Default, Etc During the period during which an Event of Default shall have occurred and be continuing:

  • 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.

  • 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 and Remedies Section 8.01

  • 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.

  • Lease Events of Default If any one (1) or more of the following events (each a "Lease Event of Default") shall occur:

  • No Events of Default No Event of Default has occurred and is continuing nor has any event occurred which, with the giving of notice or the passage of time, or both, would constitute an Event of Default.

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