Event of Default Termination Event definition

Event of Default Termination Event means the occurrence of (a) an Additional Default, which such Additional Default has not been cured or waived pursuant to the terms of the Credit Agreement by the Administrative Agent within five (5) Business Days’ of the earlier of (i) receipt by the Borrower of notice thereof from the Administrative Agent or (ii) a Responsible Officer of the Borrower or any of its Restricted Subsidiaries otherwise becoming aware of such default (the “Additional Default Grace Period”), or (b) any Event of Default pursuant to Section 10.01(a), Section 10.01(b), Section 10.01(d) (solely to the extent arising under Section 8.02(a)), Section 10.01(h) or Section 10.01(i); provided, however, in no instance shall the Additional Default Grace Period extend beyond the Scheduled Expiration Time; provided further for the avoidance of doubt that the Additional Default Grace Period shall not apply to any Event of Default pursuant to Section 10.01(a), Section 10.01(b), Section 10.01(d) (solely to the extent arising under Section 8.02(a)), Section 10.01(h) or Section 10.01(i) and the occurrence of any such Events of Default shall be and be deemed to be an immediate Event of Default without any further notice or action of any kind being required.
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Examples of Event of Default Termination Event in a sentence

  • Counterparty Parent waives notice of any Event of Default, Termination Event, Extraordinary Event, exercise of Warrants or any other event that could give rise to an obligation to pay and/or deliver in respect of any Guaranteed Obligations.

  • The Trust is a public instrumentality of the State of North Dakota and was established by Bank in order to hold the assets of the Plan.

  • Notwithstanding any other provision herein or in any other Transaction Document to the contrary, the Administrative Agent shall not exercise any powers pursuant to any Power of Attorney unless an Event of Default, Termination Event, a Designated Event or Servicer Termination Event shall have occurred and be continuing.

  • Consequences of Early Termination Upon any such early termination of the Transaction under the Swap Agreement, the Issuer or the Counterparty may be liable to make a termination payment to the other (regardless, if applicable, of which of such party may have caused such Event of Default, Termination Event or Additional Termination Event under the Swap Agreement) in accordance with the close-out mechanism found in the Swap Agreement.

  • In the event that an Event of Default, Termination Event or Additional Termination Event occurs prior to the Scheduled Termination Date and this Transaction terminates in accordance with its terms, the provisions of Special Provision 3.1(A) above shall be disregarded for the purposes of determining any termination payment due pursuant to Section 6(e) of the Agreement.

  • Any failure by Party A to provide copies to such other entities or persons shall in no way abrogate, invalidate or otherwise affect the validity or enforceability of the notice, demand or communication or the matters set forth therein, including, without limitation, the designation of an Event of Default, Termination Event, Early Termination Date or any other such matter.

  • Provided that there shall not have occurred an Event of Default, Termination Event or Additional Termination Event, on the Scheduled Termination Date, Party B will transfer the Collateral (if any) to Party A and subject to payment by Party A of the Final Exchange Amount, this Transaction shall terminate with no further payment due from either party (and the transfer by Party B shall be deemed to include a termination payment in respect of the obligations hereunder so terminated).

  • A statement of a Financial Officer of the Servicer setting forth details of any Event of Default, Unmatured Event of Default, Termination Event or Unmatured Termination Event that has occurred and is continuing and the action which the Servicer proposes to take with respect thereto.

  • A statement of a Financial Officer of the Borrower setting forth details of any Event of Default, Unmatured Event of Default, Termination Event or Unmatured Termination Event that has occurred and is continuing and the action which the Borrower proposes to take with respect thereto.

  • In the event that an Event of Default Termination Event occurs the Secretary of State may (during the thirty (30) days from the termination date specified in the Termination Notice) serve a notice (in the form set out in Schedule 1 Part B) on the Guarantor requiring it to pay to the Secretary of State by no later than the Advance Date an amount equivalent to the Available PCS Amount and the Guarantor shall make such payment within such period.

Related to Event of Default Termination Event

  • 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.

  • 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)).

  • 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).

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

  • 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.

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

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • Specified Event of Default means any Event of Default pursuant to Section 9.01(a), Section 9.01(f) or Section 9.01(g).

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

  • 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:

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

  • Additional Termination Event has the meaning specified in Section 5(b).

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

  • 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;

  • Potential Termination Event means an event which but for the lapse of time or the giving of notice, or both, would constitute a Termination Event.

  • Company Termination Event means any of the following:

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

  • ERISA Termination Event means (i) a “Reportable Event” described in Section 4043 of ERISA and the regulations issued thereunder (other than a “Reportable Event” not subject to the provision for 30-day notice to the PBGC under such regulations), or (ii) the withdrawal of a Borrower or any of its ERISA Affiliates from a “single employer” Plan during a plan year in which it was a “substantial employer”, both of such terms as defined in Section 4001(a) of ERISA, or (iii) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section 4041 of ERISA, or (iv) the institution of proceedings to terminate a Plan by the PBGC or (v) any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan or (vi) the partial or complete withdrawal of a Borrower or any ERISA Affiliate of such Borrower from a “multiemployer plan” as defined in Section 4001(a) of ERISA.

  • Unmatured Termination Event means an event that, with the giving of notice or lapse of time, or both, would constitute a Termination Event.

  • Incipient Event of Termination means an event that but for notice or lapse of time or both would constitute an Event of Termination.

  • Termination Event means an Illegality, a Tax Event or a Tax Event Upon Merger or, if specified to be applicable, a Credit Event Upon Merger or an Additional Termination Event.

  • Acceleration Event means the occurrence of an Event of Default (a) in respect of which Agent has declared all or any portion of the Obligations to be immediately due and payable pursuant to Section 10.2, (b) pursuant to Section 10.1(a), and in respect of which Agent has suspended or terminated the Revolving Loan Commitment pursuant to Section 10.2, and/or (c) pursuant to either Section 10.1(e) and/or Section 10.1(f).

  • Issuer Event of Default means the occurrence of any of the following events:

  • Termination Events means each of the events specified in Clause 10.3 of this Contract.

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

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