Default Condition definition
Default Condition means the occurrence of any event which, after satisfaction of any requirement for the giving of notice or the lapse of time, or both, would become an Event of Default.
Default Condition means the occurrence or existence of an event or condition which, upon the giving of notice or the passage of time, or both, would constitute an Event of Default;
Default Condition means the occurrence of any event which, after ----------------- satisfaction of any requirement for the giving of notice or the lapse of time, or both, would become an Event of Default.
Examples of Default Condition in a sentence
Notwithstanding the foregoing, Landlord shall have the right to reject Tenant’s exercise of the Extension Option if, at the time Tenant delivers the Extension Option Exercise Notice to Landlord, an Event of Default has occurred, and the underlying Default Condition has not been cured to Landlord’s reasonable satisfaction.
More Definitions of Default Condition
Default Condition means the occurrence of any of the events specified in Section 8.04 hereof.
Default Condition means that either or both a Default and an Event of Default exist.
Default Condition means the occurrence of any event which, after satisfaction of any requirement for the giving of notice or the lapse of time, or both, would become an Event of Default. "Default Rate" means the annual percentage interest rate applied to the principal of the Loan not paid when due under the terms of the applicable Loan Documents, which rate shall equal the sum of Prime Rate plus an additional ______ percent (__%) per annum.
Default Condition means an event, condition, or thing which, with the lapse of any applicable permitted grace period or the giving of any required notice, or both, would constitute an Event of Default.
Default Condition in respect of any action or event, means that (a) an Event of Default or Potential Default exists immediately before, or will occur as a result of (or otherwise will exist immediately after), the occurrence of that action or event or (b) the occurrence of the event or action will cause any of the representations or warranties (unless they speak to a specific date or are based on facts which have changed by transactions contemplated or expressly permitted by this agreement) in the Credit Documents to be materially incorrect.
Default Condition means the occurrence of any of the events specified in Section 8.1 hereof, in the Note, the Mortgage, or in any of the Collateral Loan Documents which, with the giving of notice or passage of time (or both) would constitute a Default hereunder.
Default Condition. Any fact or circumstance which, with the giving of notice or the passage of time, or both, would give rise to or become an Event of Default.