Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.
Default Event means any material breach by the Corporation of its obligations under this Certificate of Designations, other than a Non-Payment Event, which, if curable, is not cured on or prior to the 30th day after receipt of written notice from Ares after such default.
Examples of Default Event in a sentence
In the event that the amount calculated to be payable by the Crown to the trustee of the Fund pursuant to a Relevant Guarantee in accordance with the formula set out in clause 3.1 exceeds the aggregate of the Capped Amounts for each Relevant Person at 5.00pm on the day the relevant Default Event occurs under the Relevant Guarantee, the amount payable by the Crown to the trustee of the Fund pursuant to that Relevant Guarantee shall be, subject to clause 3.3, the aggregate of those Capped Amounts.
More Definitions of Default Event
Default Event means any of the following events: (i) any time when the Company fails to make a mandatory redemption of the Junior Preferred Stock when required (whether or not any contractual or other restrictions apply to such redemption, including restrictions imposed by the Bank Facility) pursuant to Section 5(a) hereof; or (ii) any time when the Company fails to make an offer to repurchase all of the outstanding shares of Junior Preferred Stock (or fails to consummate any such offer to repurchase) following a Change of Control, if such offer to repurchase is required to be made pursuant to Section 7(a) hereof (whether or not any contractual or other restrictions apply to such repurchase, including restrictions imposed by the Bank Facility).
Default Event means a General Default, a Project Default or an Interim Reconciliation Default; Development Costs means the costs relating to Site acquisition and/or Works in relation to a Named Project incurred or to be incurred in respect of such Named Project by the Grant Recipient in relation to the heads of expenditure set out in Part 1 to Schedule 2 or such other heads of expenditure as the GLA may in its absolute discretion agree in respect of any Named Project provided that any costs falling within the heads of expenditure set out in Part 2 to Schedule 2 shall not be capable of being treated as Development Costs; Development Site means the Site, unless such Site forms part of a wider connected development or redevelopment proposal whether or not such site is geographically contiguous to the Site, in which case "Development Site" shall encompass the site of that wider connected development or redevelopment; Direction means a direction to the Regulator in relation to rent given by the Secretary of State from time to time pursuant to Section 197 of the HRA 2008; Disposal means, other than a Permitted Disposal, a transaction the effect of which is that the legal or beneficial interest in any AHP Dwelling or property comprised in a Named Project on which any AHP Dwellings have been or are to be developed (as the case may be) transfers to becomes vested in or is leased to or reverts to another person; Disposal Notification means a written notification addressed to GLA which identifies: