Examples of Blockage Notice in a sentence

No Non-Payment Default that existed or was continuing on the date of delivery of any Payment Blockage Notice to the Trustee shall be, or be made, the basis for a subsequent Payment Blockage Notice.
No nonpayment default that existed or was continuing on the date of delivery of any Payment Blockage Notice to the Trustee shall be, or be made, the basis for a subsequent Payment Blockage Notice.
Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults with respect to any number of issues of Senior Indebtedness during such period.
Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults with respect to Designated Senior Indebtedness during such period.
If the Trustee receives any Payment Blockage Notice pursuant to clause (ii) above, no subsequent Payment Blockage Notice shall be effective for purposes of this Section unless and until at least 365 days shall have elapsed since the initial effectiveness of the immediately prior Payment Blockage Notice.

More Definitions of Blockage Notice

Blockage Notice has the meaning assigned to that term in Section 8.3.

Blockage Notice means a notice of “control” (as defined in the UCC) or its applicable equivalent contemplated to be delivered pursuant to each Deposit Account Control Agreement.

Blockage Notice has the meaning specified in each Blocked Account Letter.

Blockage Notice has the meaning specified in Section 16.03.

Blockage Notice shall have the meaning set forth in Section 3 hereof.

Blockage Notice has the meaning set forth in Section 2.5(c) hereof.

Blockage Notice a written notice from the Senior Lender to the Borrower given as provided in the Senior Credit Agreement that (a) a Non-Payment Event of Default has occurred and is continuing or (b) an Event of Default would occur if a scheduled interest or principal payment were made under the Subordinated Note in accordance with the terms thereof, which written notice identifies itself as a Blockage Notice or refers to this Subordination Agreement.