Current Defaults definition

Current Defaults means the defaults that have occurred under one or more Secured Obligation Documents, including, without limitation, the failure to timely pay the Secured Obligations.
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Current Defaults shall have the meaning specified in Section 2.3 of this Agreement.
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Current Defaults has the meaning set forth in the Recitals above.
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Examples of Current Defaults in a sentence

  • Firm controls (see Appendix 1 for definitions): Firm Size, Firm Age, Firm Age Squared, Own Funds, Liquidity, Return on Assets, Temporary Employment, Bank Debt, Short-Term Bank Debt, Long-Term Bank Debt, Uncollateralized Loans, Credit Line, Banking Relationships, Banking Relationships Squared, Current Defaults, Past Defaults, Loan Applications, All Applications Accepted.

  • Firm controls (see Appendix 1 for definitions): Firm Size, Firm Age, Firm Age Squared, Own Funds, Liquidity, Return on Assets, Temporary Employment, Bank Debt, Short-Term Bank Debt, Long-Term Bank Debt, Uncollateralized Loans, Credit Line, Banking Relationships, Banking Relationships Squared, Current Defaults, Past Defaults,Loan Applications, All Applications Accepted.

  • Notwithstanding the acknowledgment of the Current Defaults, until the Forbearance Termination Date, references to defaults and events of default in the Secured Obligation Documents shall not include the Current Defaults.

  • The forbearance set forth in Section 4 hereof is subject to the satisfaction and continuation of the following conditions (the “Conditions”): (x) no default or event of default under the Secured Obligation Documents, other than the Current Defaults, shall occur or be continuing, and (y) Atlantis Co. and the Grantors shall have satisfied and be in compliance with each term and condition of this Agreement.

  • As of the date hereof, except for the Current Defaults (as defined in the Forbearance Agreement), no Default or Event of Default has occurred and is continuing as of the Effective Time, or will result from the entry by any Credit Party into or performance by such Credit Party of its obligations under this Agreement.

  • The contention that deficits are necessarily inflationary is neither new nor conclusively settled at the levels of theory and empiricism.

  • The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided in this Amendment, operate as a waiver of any right, power or remedy of Lender, nor constitute a waiver of any Default or Event of Default, other than the Current Defaults or any provision of the Loan Agreement, the other Loan Documents or any other documents, instruments and agreements executed or delivered in connection with any of the foregoing.

  • Lender hereby waives, effective as of the date of this Amendment, the Current Defaults.

  • The Agreement shall incorporate all agreements between the Purchaser and the successful Tenderer.

  • This waiver is limited to the Current Defaults and shall not be deemed to be a waiver of any other provision of the Loan Documents.


More Definitions of Current Defaults

Current Defaults as used in the Standstill Agreement is amended to include the failure of the Company to meet the requirements of Sections 4.12 and 4.21 of the Loan Agreement with respect to the periods ending November 30, 2001.
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Current Defaults shall have the meaning set forth in Recital F above.
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Related to Current Defaults

  • Payment Default has the meaning set forth in Section 5.4(a) of the Indenture.

  • Senior Payment Default means any default in the payment of principal of (or premium, if any) or interest on any Senior Debt of the Company when due, whether at the Stated Maturity of any such payment or by declaration of acceleration, call for redemption or otherwise. In the event that any Senior Nonmonetary Default (as defined below) shall have occurred and be continuing, then, upon the receipt by the Company, the Subsidiary Guarantors and the Trustee of written notice of such Senior Nonmonetary Default from the agent for the Designated Senior Debt which is the subject of such Senior Nonmonetary Default, no Securities Payment shall be made during the period (the “Payment Blockage Period”) commencing on the date of such receipt of such written notice and ending on the earlier of (i) the date on which such Senior Nonmonetary Default shall have been cured or waived or shall have ceased to exist or all Designated Senior Debt the subject of such Senior Nonmonetary Default shall have been discharged; (ii) the 179th day after the date of such receipt of such written notice; or (iii) the date on which the Payment Blockage Period shall have been terminated by written notice to the Company, any Subsidiary Guarantor or the Trustee from the agent for the Designated Senior Debt initiating the Payment Blockage Period; provided, however, that nothing in this Section shall prevent the satisfaction of any sinking fund payment in accordance with Article Sixteen by delivering and crediting pursuant to Section 1602 Securities which have been acquired (upon redemption or otherwise) prior to the date of such receipt of such written notice. No more than one Payment Blockage Period may be commenced with respect to the Securities of a particular series during any 360-day period and there shall be a period of at least 181 consecutive days in each 360-day period when no Payment Blockage Period is in effect. For all purposes of this paragraph, no Senior Nonmonetary Default that existed or was continuing on the date of commencement of any Payment Blockage Period shall be, or be made, the basis for the commencement of a subsequent Payment Blockage Period, whether or not within a period of 360 consecutive days, unless such Senior Nonmonetary Default shall have been cured for a period of not less than 90 consecutive days.

  • Incipient Default means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default.

  • Non-Payment Default means any event (other than a Payment Default) the occurrence of which entitles one or more Persons to accelerate the maturity of any Designated Senior Indebtedness.

  • O & M Default means any default on the part of the Power Producer for a continuous period of ninety (90) days to (i) operate and/or (ii) maintain (in accordance with Prudent Utility Practices), the Project at all times.

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

  • 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).

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

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

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

  • Material Default means a material breach of this Framework Agreement and/or, breach by the Supplier of any of the following Clauses: Clause 8 (Warranties and Representations), Clause 9 (Prevention of Bribery and Corruption), Clause 13 (Statutory Requirements and Standards), Clause 14 (Non-Discrimination), Clause 15 (Provision of Management Information), Clause 16 (Management Charge), Clause 17 (Records and Audit Access), Clause 22 (Data Protection), Clause 23 (Freedom of Information) and Clause 31 (Transfer & Sub-contracting);

  • 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:

  • 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.

  • Non-Monetary Default shall have the meaning assigned to such term in Section 11(d).

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

  • 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;

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

  • 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)).

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

  • Monetary Default shall have the meaning assigned to such term in Section 11(a).

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

  • 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.

  • Non-Monetary Default Notice shall have the meaning assigned to such term in Section 11(d).

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