Clean-Up Default definition

Clean-Up Default means the events or circumstances set out in Clause 23.3 (Other obligations) and Clause 23.4 (Misrepresentation) to the extent they relate to the failure to comply with a Clean-Up Undertaking or an incorrect or misleading Clean-Up Representation.

Clean-Up Default shall have the meaning specified in Section 12.1.

Clean-Up Default means any Event of Default existing on or arising after the Closing Date, other than an Event of Default which relates to:

Examples of Clean-Up Default in a sentence

• Clean-Up Default means an Event of Default other than an Event of Default under Clauses 25.1 ( Non-payment), 25.6 (Insolvency), 25.7 (Insolvency proceedings), 25.8 (Creditors’ process), 25.9 (Unlawfulness and invalidity) and 25.14 (Repudiation and rescission of agreements).

• A supplier is subject to liability based on a product liability claim if the supplier was negligent or the product did not conform, when it left the control of the supplier in question, to a representation made by that supplier.

• The Company shall give the Administrative Agent notice of a Clean-Up Default promptly after obtaining knowledge thereof by the Company and the steps it is taking to cure such Clean-Up Default.

• Notwithstanding any other provision of any Finance Document, a Clean-Up Default shall be deemed not to be a Default (or an Event of Default) during the applicable Clean-Up Period.

• As soon as the BE is noted the CHA should inform the BE no and date.

More Definitions of Clean-Up Default

Clean-Up Default means an Event of Default referred to in Clause 24 (Events of Default) other than those set out in Clause 24.1 (Non-payment), Clause 24.6 (Insolvency), Clause 24.7 (Insolvency proceedings) and Clause 24.8 (Creditors' process).

Clean-Up Default means an Event of Default other than an Event of Default under Clauses 25.1 (Non-payment), 25.6 (Insolvency), 25.7 (Insolvency proceedings), 25.8 (Creditors’ process), 25.9 (Unlawfulness and invalidity) and 25.14 (Repudiation and rescission of agreements).

Clean-Up Default means an Event of Default existing on or arising after (in respect of the Acquisition) the Closing Date or (in respect of any Future Acquisition) the date of completion of such Future Acquisition which is:

Clean-Up Default means a Default existing during the Clean-up Period to the extent that it (or any representation or undertaking which causes such Default) occurs at the Liberty Group (or any obligation to procure or ensure in relation to the Liberty Group).

Clean-Up Default means a Default referred to in Clauses 27.3 (Other obligations) (but only insofar as that Clause relates to a Clean-Up Undertaking), Clause 27.4 (Misrepresentation) (but only where it relates to a Clean-up Representation), Clause 27.5 (Cross-default), Clause 27.8 (Creditors' process) and Clause 27.12 (Adverse Judgement).

Clean-Up Default means any Default or any Event of Default subsisting on or arising after Closing but prior to expiry of the Clean-Up-Period to the extent that it (or any representation or undertaking relating thereto) relates to a member of the Group (other than the Company) or, in the case of a Permitted Acquisition, the target of that acquisition and its subsidiaries only (or any obligation to procure or ensure in relation to a member of the Group (other than the Company) or the target of that acquisition and its subsidiaries only) provided that:

Clean-Up Default means an Event of Default existing on or arising after the Closing Date other than an Event of Default under any of Clause 24.1 (Non-payment), Clause 24.6 (Insolvency), Clause 24.7 (Insolvency proceedings), Clause 24.8 (Creditors’ process), Clause 24.10 (Unlawfulness and invalidity), Clause 24.11 (Intercreditor Agreement and other documents), Clause 24.13 (Cessation of business), Clause 24.17 (Repudiation and rescission of agreements) and Clauses 23.48 (Conditions subsequent: Merger) to Clause 23.51 (Conditions subsequent: hedging and security).