Block Event definition

Block Event means an event or circumstance that, after the giving of notice or lapse of time or both, would give rise to an Event of Default, Rapid Amortization Event or Servicer Default.
View Source
Block Event means an event under the Credit Agreement, during the continuance of which the Company will be required to comply with certain conditions contained in the Credit Agreement;
View Source
Block Event means the occurrence and continuance of a Default or if Excess Availability shall at any time be less than $65,000,000.
View Source

Examples of Block Event in a sentence

  • No Rapid Amortization Event, Event of Default, Servicer Default or Block Event has occurred and is continuing.

  • In addition to the conditions set forth in Section 3.1 of the Series Supplement, the obligation of the Conduit Purchasers and the Committed Purchaser to fund any Increase on the related Increase Date is subject to the condition that there exist no Pay Out Event, Potential Pay Out Event, Event of Default, Servicer Default or Block Event which has occurred and is continuing.

  • Following a Payment Block Event and for as long as such is continuing and until the earlier of (i) the taking of Enforcement Actions in accordance with the Intercreditor Agreement and (ii) a written notice from Super Senior Representative to the Security Agent to the contrary, no payments of principal or interest in respect of the Senior Debt shall be made to the Senior Creditors (notwithstanding any other provisions to the contrary herein).

  • Following a Payment Block Event and for as long as it is continuing, no repurchases of Bonds may be made by the Issuer or any Group Company for as long as a Payment Block Event is continuing.

  • In the event that the condition precedent outlined in paragraph 3(a) above is not satisfied within the foregoing time limits, the Parties agree that an ECA Utilisation Block Event shall be deemed to have occurred.

  • The Borrower shall make mandatory principal prepayments of the Loans in an aggregate amount equal to the HGC Facility Share of the aggregate Net Cash Proceeds from any Asset Disposition by the Borrower or any of its Subsidiaries; provided that no such prepayment shall be required for so long as a TGC Dividend Block Event shall have occurred and be continuing.

  • Following a Payment Block Event and for as long as it is continuing, no payments may be made by the Issuer to the Bondholders under or in relation to the Bonds (notwithstanding any other provisions to the contrary herein).

  • The Borrower shall make mandatory principal prepayments of the Loans in an aggregate amount equal to the HGC Facility Share of the aggregate Net Cash Proceeds from any Insurance and Condemnation Event by the Borrower or any of its Subsidiaries; provided no such prepayment shall be required for so long as a TGC Dividend Block Event shall have occurred and be continuing.

  • If a Block Event exists, the Administrative Agent may require, at the cost of the Borrowers, and as frequently as the Administrative Agent determines, appraisals of the Borrowers' inventory in scope and detail and prepared by an independent appraisal firm selected by the Administrative Agent.

  • Notwithstanding the foregoing, the Issuing Lender shall have no obligation hereunder to issue any Letters of Credit on and after the Revolver A Block Event.


More Definitions of Block Event

Block Event means an event or circumstance that, after the giving of notice or lapse of time or both, would give rise to an Event of Default, Pay Out Event
View Source
Block Event means any event described as such which GFC and the Agent have agreed in writing may, if the same has occurred and is continuing, result in the Borrower being unable to borrow an Advance as contemplated by the Facility Agreement.
View Source
Block Event means the occurrence and continuance of a Default or if Excess Availability shall at any time be less than the Dominion Excess Availability Requirement.
View Source

Related to Block Event

  • ▇▇▇▇ Event means if there are any Mortgaged Properties at such time, any increase, extension or renewal of any of the Commitments or Loans (but excluding (i) any continuation or conversion of borrowings, (ii) the making of any Loan or (iii) the issuance, renewal or extension of Letters of Credit).

  • Extraordinary Common Stock Event means (i) the issue of additional shares of the Common Stock as a dividend or other distribution on outstanding Common Stock, (ii) subdivision of outstanding shares of Common Stock into a greater number of shares of the Common Stock, or (iii) combination of outstanding shares of the Common Stock into a smaller number of shares of the Common Stock.

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • Switch Event Date means the date recorded in the Registry as being the date on which a trader assumes responsibility for an ICP;

  • Knock Out Event means the event as defined in §4(4).