Designated Default definition

Designated Default means a Default under Sections 8.01(a), (f) or (g).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Designated Default means any Default or Event of Default disclosed in writing to the Agent (including, without limitation, pursuant to one or more Borrowing Base Certificates and/or Compliance Certificates) prior to the Fourth Amendment Closing Date (including, without limitation, the First Amendment Designated Defaults, the Second Amendment Designated Defaults and the Events of Default specified in the January 30, 2009 Notice of Default given by the Agent to the Borrowers).

Designated Default means, collectively, (a) the First Amendment Designated Defaults, and

Examples of Designated Default in a sentence

• The Lenders hereby waive the Designated Default as an Event of Default.

• Employees shall be eligible for paid Parental Leave pursuant to ▇▇▇▇ County Board Resolution 13-R-346 and the corresponding ▇▇▇▇ County Bureau of Human Resources Parental Leave Policy.

• Borrower represents and warrants that the Designated Default is the only Default or Event of Default that exists under the Loan Agreement and the other Loan Documents as of the date hereof.

• The Event of Default expressly referred to in this paragraph is herein referred to as the “Designated Default.” Effective as of the date hereof, upon the satisfaction of the conditions precedent set forth in Section Five hereof, the Lender hereby waives the Designated Default as an Event of Default.

• In case any Note for which aggregate Payments and Designated Default Interest equal to the Maximum Return Amount has been paid or is about to be paid shall become mutilated or be destroyed, lost or stolen, the Company may, in its sole discretion, instead of issuing a substitute Note, pay or authorize the payment of the same (without surrender thereof except in the case of a mutilated Note), as the case may be.

More Definitions of Designated Default

Designated Default means Default under Sections 7.1(a), 7.1(e), 7.1(f), 7.1(g), 7.1(m), 7.1(r), 7.1(t), 7.1(u) or 7.1(v) or any breach by the Borrower of any of the terms or provisions of Sections 6.3(A) (Indebtedness), 6.3(B) (Sales of Assets), 6.3(D) (Investments), 6.3(F) (Distributions), 6.3(H) (Transactions with Affiliates), 6.3(O) (Other Indebtedness) or 6.4 (Financial Covenants).

Designated Default means (x) any Event of Default, (y) any event or condition which, with the giving of notice or lapse of time or both, would become an Event of Default (other than any event or condition referred to in clause (e) or (f) of Section 6.01) or (z) any event or condition that entitles the holder of any Material SRAC Debt or Material Company Material Debt, or any Person acting on any such holder's behalf, to accelerate the maturity thereof (but in the case of any event or condition referred to in clause (e) of Section 6.01, only after the expiration of the three Domestic Business Day period referred to in such clause (e)).

Designated Default means the Reporting Designated Default.

Designated Default has the meaning specified therefor in Section 4(c) of the Second Amendment.

Designated Default has the meaning given to such term in Section 1 of the First Amendment and shall also include – for purposes of Section 3.19 of this Agreement (and the term “Forbearance Default” as used therein) and for purposes of the amendments to the Credit Agreement brought about by Section 16 of the First Amendment – any Event of Default arising out of the Borrowers’ failure to comply with the provisions of Section 6.3(c) of the Credit Agreement for the Borrowers’ fiscal quarter ending September 30, 2008, should the Borrowers fail to comply with such covenant for such fiscal quarter.

Designated Default means any occurrence or circumstance designated as a default in the Service Level Requirements.

Designated Default means a Default under Sections 8.01(a), (f) or (g). “Designated Jurisdiction” means any country or territory to the extent that such country or territory itself is targeted by any comprehensive Sanctions. “Discovery Bonds” means, collectively, (a) the notes issued pursuant to the Indenture dated as of August 19, 2009, among the Company, the Facility Guarantor, and U.S. Bank National Association, and any supplemental indentures thereto and (b) the notes issued pursuant to the Indenture, dated as of December 1, 2011, by and among Scripps and U.S. Bank National Association, and any supplemental indentures thereto. “Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition (including any sale and leaseback transaction) of any property by any Person, including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith. The term “Disposition” shall not include (a) any issuance of Equity Interests, (b) any Involuntary Disposition or (c) any cash payments otherwise not prohibited by this Agreement.