Core Collateral Failure definition

Core Collateral Failure means, as of any date of determination, the failure of the Collateral to include at least one category of Core Collateral as of such date.

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Core Collateral Failure means, as of any date of determination following the date that is 30 days after the Closing Date, the Collateral not including the Core Collateral as of such date.

Core Collateral Failure means, as of any date of determination, the failure of the LGA/DCA Collateral to include the Core Collateral as of such date.

Examples of Core Collateral Failure in a sentence

So long as any Loans or Letters of Credit are outstanding (other than such as have been Cash Collateralized or covered by a “back-to-back” letter of credit in accordance with the terms of the Loan Documents), the Borrower shall not permit any Core Collateral Failure to occur.
If, as of any Reference Date, it is determined that a Core Collateral Failure has occurred as a result of a Disposition that is voluntary or a release of First Lien Collateral from the Pari Passu Lien of the Collateral Trustee requested by the Company or any other Grantor, it will be deemed to constitute a failure to comply with a covenant or agreement as contemplated by clause (3) under Section 6.01 hereof.
If, as of any Reference Date, it is determined that a Core Collateral Failure has occurred as a result of a Disposition that is voluntary or a release of Collateral from the Pari Passu Lien of the Collateral Trustee requested by the Company or any other Grantor, it will be deemed to constitute a failure to comply with a covenant or agreement as contemplated by clause (3) under Section 6.01 hereof.
If, as of any Reference Date, it is determined that a Core Collateral Failure has occurred as a result of a Disposition that is voluntary or a release of Collateral from the Pari Passu Lien of the Collateral Agent requested by the Company or any other Grantor, it will be deemed to constitute a failure to comply with a covenant or agreement as contemplated by clause (3) under Section 6.01 hereof.

More Definitions of Core Collateral Failure

Core Collateral Failure shall have the meaning set forth in the Revolving Credit Agreement and shall include any analogous term in any subsequent Revolving Credit Agreement.

Core Collateral Failure means, as of any date of determination, if the Revolving Priority Collateral does not include the Core Collateral as of such date.

Core Collateral Failure means an Event of Default arising by reason of a breach by the Borrower of Section 5.09(a)(8).