Acceleration of Obligations definition

Acceleration of Obligations means an action taken by a holder, under any agreement in which is created an obligation with respect to borrowed money, declaring such obligation due prior to its expressed maturity.
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Examples of Acceleration of Obligations in a sentence

  • Upon occurrence of an event of default, Secured Party may, in its absolute and sole discretion and without demand or notice, do any or all of the following: 6.1 Acceleration of Obligations.

  • EVENTS OF DEFAULT; RIGHTS AND REMEDIES ON DEFAULT 120128 12.1. Events of Default 120128 12.2. Acceleration of Obligations; Termination of Commitments 123131 12.3. Other Remedies 123131 12.4. Setoff 125133 12.5. Remedies Cumulative; No Waiver 125133 SECTION 13.

  • R07-374 RESOLUTION FOR A REVISED TRAFFIC SIGNAL AT THE INTERSECTION OF EASTON AVENUE (C.R. 527) AND J.F.K. BOULEVARD FRANKLIN TOWNSHIP, SOMERSET COUNTY BE IT RESOLVED, by the Board of Chosen Freeholders of the County of Somerset as follows: SECTION I.

  • Section 7.02 Termination of Commitment and Acceleration of Obligations.

  • Upon the occurrence of an Event of Default, and at any time thereafter until such Event of Default is cured to the satisfaction of Secured Party, and in addition to the rights granted to Secured Party under Articles 5 and 6 hereof or under any other document, agreement or other instrument evidencing, securing or otherwise relating to any of the Obligations, Secured Party may exercise any one or more of the following rights and remedies: Acceleration of Obligations.

  • Section 4.1. Acceleration of Obligations..................................

  • Certain Agreements and Confirmations Regarding Termination and Acceleration 51 13.01 Company Credit and Reimbursement Agreement 52 13.02 Interest Hedge Contracts 52 13.03 Acceleration of Obligations; Termination of Commitments 52 13.04 Liability of Trustee 52 13.05 DSR L/C 52 Section 14.

  • EVENTS OF DEFAULT; RIGHTS AND REMEDIES ON DEFAULT 109 12.1 Events of Default 109 12.2 Acceleration of Obligations; Termination of Commitments 111 12.3 Other Remedies 112 12.4 Setoff 113 12.5 Remedies Cumulative; No Waiver 113 SECTION 13.

  • Certain Agreements and Confirmations Regarding Termination and Acceleration 12.01 Company Credit and Reimbursement Agreement 12.02 Interest Hedge Contracts 12.03 Acceleration of Obligations; Termination of Commitments 12.04 Liability of Trustee Section 13.

  • Upon the occurrence of an Event of Default, and at any time thereafter unless and until such Event of Default has been waived by the Bank or cured to the satisfaction of the Bank, the Bank shall be entitled to take any of the following actions without prejudice to the rights of the Bank to enforce its claims against the University except as otherwise specifically provided for in the Reimbursement Agreement: (a) Acceleration of Obligations.

Related to Acceleration of Obligations

  • 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.

  • Discharge of Obligations subject to Section 10.8, the satisfaction of the Obligations (including all such Obligations relating to Cash Management Services) by the payment in full, in cash (or, as applicable, Cash Collateralization in accordance with the terms hereof) of the principal of and interest on or other liabilities relating to each Loan and any previously provided Cash Management Services, all fees and all other expenses or amounts payable under any Loan Document (other than inchoate indemnification obligations and any other obligations which pursuant to the terms of any Loan Document specifically survive repayment of the Loans for which no claim has been made), and other Obligations under or in respect of Specified Swap Agreements and Cash Management Services, to the extent (a) no default or termination event shall have occurred and be continuing thereunder, (b) any such Obligations in respect of Specified Swap Agreements have, if required by any applicable Qualified Counterparties, been Cash Collateralized, (c) no Letter of Credit shall be outstanding (or, as applicable, each outstanding and undrawn Letter of Credit has been Cash Collateralized in accordance with the terms hereof), (d) no Obligations in respect of any Cash Management Services are outstanding (or, as applicable, all such outstanding Obligations in respect of Cash Management Services have been Cash Collateralized in accordance with the terms hereof), and (e) the aggregate Commitments of the Lenders are terminated.

  • Obligation Acceleration means one or more Obligations in an aggregate amount of not less than the Default Requirement have become due and payable before they would otherwise have been due and payable as a result of, or on the basis of, the occurrence of a default, event of default or other similar condition or event (however described), other than a failure to make any required payment, in respect of a Reference Entity under one or more Obligations.

  • Acceleration Event means the occurrence of an Event of Default (a) in respect of which Agent has declared all or any portion of the Obligations to be immediately due and payable pursuant to Section 10.2, (b) pursuant to Section 10.1(a), and in respect of which Agent has suspended or terminated the Revolving Loan Commitment pursuant to Section 10.2, and/or (c) pursuant to either Section 10.1(e) and/or Section 10.1(f).

  • Acceleration means, with respect to the amounts payable in respect of the Equipment Notes issued under any Indenture, such amounts becoming immediately due and payable by declaration or otherwise. “Accelerate”, “Accelerated” and “Accelerating” have meanings correlative to the foregoing.

  • Acceleration Date on any Security means the date on and after which the principal or any or all installments of interest, or both, are due and payable on any Security which has become accelerated pursuant to the terms of the Security.

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

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

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

  • Additional Senior Obligations means all indebtedness of the Company whether incurred on or prior to the date of this Indenture or thereafter incurred, for claims in respect of derivative products such as interest and foreign exchange rate contracts, commodity contracts and similar arrangements; provided, however, that Additional Senior Obligations does not include claims in respect of Senior Debt or Subordinated Debt or obligations which, by their terms, are expressly stated to be not superior in right of payment to the Debentures or to rank pari passu in right of payment with the Debentures. For purposes of this definition, "claim" shall have the meaning assigned thereto in Section 101(4) of the United States Bankruptcy Code of 1978, as amended.

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • Original Obligations means the “Obligations” as defined in the Original Credit Agreement.

  • Specified Event of Default means any Event of Default pursuant to Section 9.01(a), Section 9.01(f) or Section 9.01(g).

  • Liquidity Obligations means all principal, interest, fees and other amounts owing to the Liquidity Providers under the Liquidity Facilities, Section 8.1 of the Participation Agreements or the Fee Letters.

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

  • Nonpayment of premium means the failure or inability of the named insured to discharge any obligation in connection with the payment of premium on a policy of insurance subject to this section, whether the payments are payable directly to the insurer or its agent or indirectly payable under a premium finance plan or extension of credit.[PL 1985, c. 671, §2 (NEW).]

  • cross-default obligation means a term of any agreement or arrangement whereby the Appointee's liability to pay or repay any debt or other sum arises or is increased or accelerated by reason of a default of any person other than the Appointee. 6.12 Without prejudice to the application of paragraph 6.2 the Appointee shall declare or pay dividends only in accordance with a dividend policy which has been approved by the Board of the Appointee and which complies with the following principles -

  • Discharge of Senior Obligations means the date on which the Discharge of Credit Agreement Obligations and the Discharge of each Additional Senior Debt Facility has occurred.

  • Acceleration Notice shall have the meaning specified in Section 6.2.

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

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

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Credit Agreement Obligations means the “Obligations” as defined in the Credit Agreement.

  • Events of Default has the meaning specified in Section 6.01.

  • 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).

  • Credit Facility Obligations means all “Obligations” (or any other defined term having a similar purpose) as defined in the Credit Agreement.