Automatic Event of Default definition

Automatic Event of Default means any one or more of the following:
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Examples of Automatic Event of Default in a sentence

  • Upon the occurrence of an Automatic Event of Default, all sums owing to Beneficiary under the Note, the Loan Agreement and the other Loan Documents shall automatically become immediately due and payable, also without presentment, demand, protest, notice of protest, notice of acceleration, notice of intention to accelerate or any other notice of any kind, all of which are expressly waived by Grantor.

  • Upon the occurrence of an Automatic Event of Default, then, without notice, demand or action of any kind by Lender: (i) the necessity of the Lender to make any Working Capital Advances under this Loan Agreement shall automatically and immediately terminate; and (ii) the entire unpaid principal of and interest accrued on the Working Capital Notes and any other amount due under or pursuant to this Loan Agreement, shall be automatically and immediately due and payable.

  • Automatic Event of Default and Communication of Event of Default - Terms and Conditions The Amendments specify that an Event of Default is triggered automatically in respect of a Contracting Party upon the occurrence of a bankruptcy-related event.

  • Event of Default" shall mean any Automatic Event of Default or any Notice Event of Default.

  • When used in this Note, the following terms shall have the meanings specified: Automatic Event of Default.

Related to Automatic Event of Default

  • 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).

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

  • 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.

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

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

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

  • 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.

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

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

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

  • Bond Event of Default means the occurrence of any of the following (or such event or condition which with notice or lapse of time or both would constitute any of the following):

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

  • Senior Event of Default means an Event of Default under the Senior Loan Documents.

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

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

  • Event of Default has the meaning specified in Section 8.01.

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • Owner Event of Default has the meaning set forth in Section 20.3.

  • Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

  • Potential Issuer Event of Default means any condition, event or act which, with the lapse of time and/or the issue, making or giving of any notice, certification, declaration, demand, determination and/or request and/or the taking of any similar action and/or the fulfilment of any similar condition, would constitute an Issuer Event of Default;

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

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

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

  • Indenture Event of Default means an "Event of Default" as defined in the Indenture.

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

  • Company Event of Default bears the meaning ascribed thereto in Section 13.1; “Company Notice of Default” bears the meaning ascribed thereto in Section 13.2;