Administrative Default definition

Administrative Default means any Event of Default if (i) such Event of Default was inadvertent and not the result of an intentional act or omission of Borrower, Master Tenant or Guarantor and (ii) the existence of such Event of Default has not and will not have a Material Adverse Effect.
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Examples of Administrative Default in a sentence

  • The duty to pay the Administrative Default Charge shall not limit Company’s other rights or remedies under this Agreement or Applicable Laws.

  • In addition to all other obligations imposed by this Agreement arising in the event of Franchisee’s default in performance or payment, Franchisee shall pay to Company, without offset, credit or deduction of any nature, an Administrative Default Charge of $250 per default.

  • Notes to the Financial StatementsThe key assumption that has the highest impact on the ECL is the assumption related to the Probability of Administrative Default (“PAD”).

  • Id. ¶¶ 14, 66.Pursuant to this theory, Rosen’s counsel served Sapir and his counsel with a Notice of Administrative Default.

  • If you selected Static as the IP address type, enter the following fields:• IP Address—IP address of the interface.• Network Mask—IP mask for this address.• Administrative Default Gateway—Enter the default gateway IP address.• DNS Server—Enter the IP address of the DNS server.

  • Fish products acquired by legal entities and physical persons engaged into illegal fish hunting and hunting devices may be confiscated in accordance with the procedures established by the Administrative Default Code of the Azerbaijan Republic.

  • Administrative Default Order: An Administrative Default Order may be issued when the defendant/respondent fails to answer an administrative complaint seeking penalties under Section 109 of CERCLA.

  • Failure to provide this document / information will be taken as an Administrative Default.

  • FINDINGS AND RECOMMENDATIONS 15 /16 On June 3, 2005, defendant Blackmon, proceeding pro se, filed a document17 bearing the following title: 18 Ex Parte Mandatory Judicial Notice of the Government’s Administrative Default, Pursuant to Federal Rules of Evidence,19 Rule 201(d); Demand to Vacate and Set Aside Void Judgment No. 2:03CR00462-01, For Lack of Subject-Matter Jurisdiction “in rem20 and in personam,” Pursuant to 28 U.S.C. § 2255.

  • Cadets whose 16th birthday falls within their summer training period will be required to hold the higher level of documentation for their homeward journey.

Related to Administrative Default

  • Lender Default means (i) the refusal or failure of any Lender to make available its portion of any incurrence of Loans, which refusal or failure is not cured within one Business Day after the date of such refusal or failure, unless such Lender notifies the Administrative Agent in writing that such refusal or failure is the result of such Lender’s good faith determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in writing) has not been satisfied, (ii) the failure of any Lender to pay over to the Administrative Agent, any Swingline Lender, any Letter of Credit Issuer or any other Lender any other amount required to be paid by it hereunder within one Business Day of the date when due, unless the subject of a good faith dispute, (iii) a Lender has notified, in writing, the Borrower or the Administrative Agent that it does not intend to comply with its funding obligations under this Agreement or has made a public statement to that effect with respect to its funding obligations under this Agreement, or a Lender has publicly announced that it does not intend to comply with its funding obligations under other loan agreements, credit agreements or similar facilities generally, (iv) a Lender has failed to confirm in a manner reasonably satisfactory to the Administrative Agent that it will comply with its funding obligations under this Agreement, (v) a Distressed Person has admitted in writing that it is insolvent or such Distressed Person becomes subject to a Lender-Related Distress Event or (vi) a Lender has become the subject of a Bail-in Action.

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

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

  • Bank Default means (i) the refusal (which has not been retracted) of a Bank to make available its portion of any Borrowing or to fund its portion of any unreimbursed payment under Section 2.03(c) or (ii) a Bank having notified in writing the Borrower and/or the Agent that it does not intend to comply with its obligations under Section 1.01 or Section 2, in the case of either clause (i) or (ii) as a result of any takeover of such Bank by any regulatory authority or agency.

  • Lease Default means any event or condition which, with the lapse of time or the giving of notice, or both, would constitute a Lease Event of Default.

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

  • Servicing Default The meaning assigned in Section 6.01 of the Servicing Agreement.

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

  • Actionable Default means the occurrence of any of the following:

  • Forbearance Default means (A) the occurrence of any Default (as defined in the GE Loan Agreement) or any Event of Default (as defined in the TCFC Loan Agreement) other than the Specified Defaults, (B) the failure of any Borrower or any other Loan Party to comply timely with any term, condition, or covenant set forth in this Agreement, (C) the failure of any representation or warranty made by any Borrower or any other Loan Party under or in connection with this Agreement to be true and complete in all material respects as of the date when made or any other breach of any such representation or warranty in any material respect, (D) any occurrence, event or change in facts or circumstances occurring on or after the Effective Date that would have a Material Adverse Change (as defined in either Loan Agreement) on any Borrower or any other Loan Party or any of their respective financial conditions, businesses, prospects or assets, (E) (I) any breach by Travis or any other Loan Party of any provision of the Merxxx Xgreement or any other agreement, instrument or document executed in connection therewith, (II) any failure by Travis or TRMC to satisfy any condition precedent to txx xxxectiveness of the Merger Agreement or any other agreement, instrument or document executed in connection therewith, (III) any termination or purported termination by any party thereto of the Merger Agreement, or (IV) any other failure of the Merger Agreement to remain in full force and effect at any time, (F) any breach by Tracker of any of the provisions of that certain letter agreement dated on or about the date hereof between Tracker and Lender (the "Tracker Letter Agreement"), including, without limitation, any failure by Tracker to fund any working capital shortfall of Travis pursuant to Section 7 of the Tracker Letter Agreement, ox (X) any determination made by Lender in its sole discretion at any time that Lender, Travis and Tracker (or its affiliate, TMRC) have failed or arx xxxble to reach agreement on the terms for restructuring the credit facilities under the Loan Documents or on any other matters referenced in Section 6.03(g) of the Merger Agreement. Any Forbearance Default shall constitute an immediate Default under the GE Loan Agreement and an immediate Event of Default under the TCFC Loan Agreement.

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • 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.

  • Special Default means (i) the failure by Owner to pay any amount of principal of or interest on any Equipment Note when due or (ii) the occurrence of any Default or Event of Default referred to in Section 5.01(v), (vi) or (vii).

  • Potential Defaulting Lender means, at any time, (i) any Lender with respect to which an event of the kind referred to in the definition of “Lender Insolvency Event” has occurred and is continuing in respect of any Subsidiary of such Lender, or (ii) any Lender that has notified, or whose Lender Parent or a Subsidiary thereof has notified, the Administrative Agent, the Borrower or any LC Issuing Bank in writing, or has stated publicly, that it does not intend to comply with its funding obligations generally under other loan agreements, credit agreements and other similar agreements, unless such writing or statement states that such position is based on such Lender’s determination that one or more conditions precedent to funding cannot be satisfied (which conditions precedent, together with the applicable default, if any, will be specifically identified in such writing or public statement). Any determination by the Administrative Agent that a Lender is a Potential Defaulting Lender under any of clauses (i) and (ii) above will be conclusive and binding absent manifest error, and such Lender will be deemed a Potential Defaulting Lender (subject to Section 2.19(f) hereof) upon notification of such determination by the Administrative Agent to the Borrower, the LC Issuing Banks and the Lenders.

  • Indenture Default means, with respect to any Indenture, any Event of Default (as such term is defined in such Indenture) thereunder.

  • Loan Default means an event, which with the giving of notice or lapse of time or both, would become a Loan Event of Default.

  • Authority Default shall have the meaning set forth in Clause 23.2;

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • Financial Default means the total cessation or partial suspension of operations due to insolvency, with or without the filing of a bankruptcy petition by a tour operator, Cruise line, or airline.

  • Bankruptcy Default has the meaning assigned to such term in Section 6.01.

  • Servicer Default means an event specified in Section 8.01.

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • Non-Monetary Default Cure Period shall have the meaning assigned to such term in Section 11(d).

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

  • Additional Default means any provision contained in any document or instrument creating or evidencing Indebtedness of the Borrower or any of its Subsidiaries which permits the holder or holders of such Indebtedness to accelerate (with the passage of time or giving of notice or both) the maturity thereof or otherwise requires the Borrower or any of its Subsidiaries to purchase such Indebtedness prior to the stated maturity thereof and which either (i) is similar to any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement, but contains one or more percentages, amounts or formulas that is more restrictive or has a xxxxxxx xxxxx period than those set forth herein or is more beneficial to the holder or holders of such other Indebtedness (and such provision shall be deemed an Additional Default only to the extent that it is more restrictive or more beneficial) or (ii) is different from the subject matter of any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement.

  • Minor Default means any Event of Default that is not a Major Default.