Designated Defaults definition

Designated Defaults means the Default or Event of Default arising directly from the failure of the Borrowers (as defined in the First Lien Credit Agreement) to make the interest payment that the First Lien Credit Agreement requires to be paid on February 28, 2020.

Designated Defaults has the meaning set forth in the Recitals hereof.

Designated Defaults means any default arising from failure to perform or comply with Sections 4.01, 4.04, 4.05, 4.06, 4.14, 4.15, 4.16, 4.17, 4.18, 4.20 and 5.01 of the Indenture, dated as of January 19, 2001, as supplemented by the Supplemental Indenture, dated as of November 18, 2004 and the Second Supplemental Indenture, dated as of January 27, 2005 and of the Indenture, dated as of November 14, 2001, as supplemented by the Supplemental Indenture, dated as of November 18, 2004 and the Supplemental Indenture, dated as of January 27, 2005.

Examples of Designated Defaults in a sentence

• Borrower and Guarantors agree and acknowledge that notwithstanding the extension of the Due Dates of the Notes, the Indebtedness shall continue to be accelerated and due and payable in full subject to the obligation of Bank to forbear as set forth herein, and that no payment (other than payment in full) nor any act of Bank (other than in a writing expressly so stating) shall constitute a waiver or cure of the Designated Defaults.

• The representations and warranties contained herein shall be true and correct in all material respects as of the date hereof, and no Default or Event of Default, other than the Designated Defaults, shall exist on the date hereof.

• Each Company acknowledges that the Designated Defaults have occurred and exist as of the date hereof, that any and all cure periods set forth in the Documents have expired, and each Company is unconditionally obligated to pay, jointly and severally, all of its liabilities to Laurus including all Obligations, all without defense, setoff or counterclaim of any kind or nature whatsoever.

• Notwithstanding any other provision of this Agreement or any other Loan Document to the contrary, the Designated Defaults shall continue to constitute an Event of Default under the Loan Agreement for purposes of Section 5(c) (allowing for unlimited audits).

• Except in respect of the Designated Defaults, all representations and warranties contained in the Loan Documents are true and correct as of the date of this Agreement.

More Definitions of Designated Defaults

Designated Defaults means the Events of Default occurring as a result of (i) Guarantor’s failure to maintain the required Net Worth pursuant to Section 9.18 of the Loan Agreement, (ii) Guarantor’s failure to maintain the required Liquidity pursuant to Section 9.19 of the Loan Agreement, (iii) Borrower’s failure to pay in cash interest as set forth in the Loan Agreement pursuant to Section 11.01(a) of the Loan Agreement, (iv) Borrower’s failure to make any Swap Payment pursuant to Section 11.01(s) of the Loan Agreement and (v) Borrower’s failure to pay amounts due on the Maturity Date.”

Designated Defaults means the following Defaults or Events of Default that have occurred as of the date of this Agreement and are continuing under the Note Purchase Agreement:

Designated Defaults as used herein include:

Designated Defaults has the meaning set forth in Section 2.2(a) hereof.

Designated Defaults means, collectively, the Existing Defaults and the Specified Default.

Designated Defaults means all Events of Default that have occurred through the date hereof and, other than with respect to Forbearance Defaults, during the Forbearance Period.

Designated Defaults means the existing Events of Default and the anticipated Events of Default more particularly identified on Exhibit A hereto.