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.
Examples of Administrative Default in a sentence
Section 5.4. The Issuer agrees that its obligations under this Section 5 shall be determined without regard to any Administrative Default Grace Period that may be, or may have been, applicable at any relevant time.