No Conversion in Case of an Event of Default or Unmatured Default Sample Clauses

No Conversion in Case of an Event of Default or Unmatured Default. Notwithstanding anything to the contrary contained in Section 2.10(a) or 2.10(b), no Advance may be converted into or continued as a Eurodollar Rate Advance (except with the consent of the Required Lenders) when any Event of Default or Unmatured Default has occurred and is continuing.
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No Conversion in Case of an Event of Default or Unmatured Default. Notwithstanding anything to the contrary contained in Section 2.07(a) or 2.07(b), no Facility B Advance may be converted into or continued as a Fixed Rate Advance (except with the consent of the Required Lenders) when any Event of Default or Unmatured Default has occurred and is continuing.
Sample 1
No Conversion in Case of an Event of Default or Unmatured Default. Notwithstanding anything to the contrary contained in Section 2.07(a) or 2.07(b), no Revolving Advance may be converted into or continued as a Eurodollar Advance (except with the consent of the Required Lenders) when there has occurred and is continuing any Event of Default or Unmatured Default, except for Unmatured Defaults (other than the failure to pay any Obligation) that with respect to Subsidiaries of the Borrower whose assets constitute in the aggregate less than 5% of the assets of the Borrower and its Subsidiaries (other than the Mortgage Banking Subsidiaries) on a consolidated basis (calculated as at the Borrower’s then most recent fiscal quarter end) (“Subsidiary Unmatured Defaults”); provided the Borrower certifies (either in the Conversion/Continuation Notice or in a separate certificate addressed to the Administrative Agent for the benefit of the Lenders) that (a) such Subsidiary Unmatured Defaults are not reasonably likely to have a Material Adverse Effect and (b) the Borrower reasonably expects to cure such Subsidiary Unmatured Defaults before the date on which the same becomes an Event of Default, which certificate shall provide reasonable detail regarding the Subsidiary Unmatured Defaults and the Borrower’s proposed cure thereof. The Administrative Agent shall furnish a copy of such certification to the Lenders.
Sample 1

Related to No Conversion in Case of an Event of Default or Unmatured Default

  • REMEDIES IN CASE OF AN EVENT OF DEFAULT If there shall have occurred and be continuing an Event of Default, then and in every such case, the Pledgee shall be entitled to exercise all of the rights, powers and remedies (whether vested in it by this Agreement, any other Secured Debt Agreement or by law) for the protection and enforcement of its rights in respect of the Collateral, and the Pledgee shall be entitled to exercise all the rights and remedies of a secured party under the Uniform Commercial Code as in effect in any relevant jurisdiction and also shall be entitled, without limitation, to exercise the following rights, which each Pledgor hereby agrees to be commercially reasonable:

  • Default or Event of Default Seller shall, as soon as possible but in no event later than two (2) Business Days after obtaining actual knowledge of such event, notify Purchaser of the occurrence of any Default or Event of Default.

  • Notice of Events of Default or Unmatured Events of Default A statement of a Financial Officer of the Servicer setting forth details of any Event of Default or Unmatured Event of Default that has occurred and is continuing and the action which the Servicer proposes to take with respect thereto.

  • No Default or Event of Default No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the Extension of Credit to be made on such date unless such Default or Event of Default shall have been waived in accordance with this Agreement.

  • EFFECT OF AN EVENT OF DEFAULT If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's right to declare a default and to exercise its rights and remedies.

  • Actions following an Event of Default On, or at any time after, the occurrence of an Event of Default:

  • Notice of Default or Event of Default promptly, and in any event within five days after a Responsible Officer becoming aware of the existence of any Default or Event of Default or that any Person has given any notice or taken any action with respect to a claimed default hereunder or that any Person has given any notice or taken any action with respect to a claimed default of the type referred to in Section 11(f), a written notice specifying the nature and period of existence thereof and what action the Company is taking or proposes to take with respect thereto;

  • Repayment on Event of Default When there is an Event of Default, Borrower will, if Bank demands (or, upon the occurrence of an Event of Default under Section 8.5, immediately without notice or demand from Bank) repay all of the Advances. The demand may, at Bank’s option, include the Advance for each Financed Receivable then outstanding and all accrued Finance Charges, the Early Termination Fee, Collateral Handling Fee, attorneys’ and professional fees, court costs and expenses, and any other Obligations.

  • Certain Events of Default The following Events of Default will apply to the parties as specified below, and the definition of “Event of Default” in Section 14 is deemed to be modified accordingly:

  • Notification of Event of Default Borrower shall notify Agent immediately of the occurrence of any Event of Default.

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