Examples of Events of Default in a sentence
Each party hereto hereby confirms that Defaults and Events of Default exist under the Loan Documents as in effect prior to this Amendment and upon effectiveness of this Amendment such existing Defaults and Events of Default shall continue to exist for purposes of the Loan Documents executed in connection with the Postpetition B-2 Facility.
The Servicer will deliver to the Administrative Agent, the Lenders and the Collateral Agent, at least quarterly, commencing December 31, 2023, a report signed by a Responsible Officer of the Servicer certifying as to compliance with Events of Default related to Unencumbered Liquidity and including any calculations made in respect thereof.
In the event an Event of Default under Section 7.1(a) has occurred and not been cured within two Business Days from the Loan’s maturity or from the time the Lender makes a demand for payment (and none of the Events of Default specified in Section 7.1(d) has occurred), the Lender and the Borrower agree that such matter shall be submitted for binding arbitration to an independent arbitrator selected by the Board of Trustees of the Lender and Borrower.
Each of the events or circumstances set out in Clause 14 (Events of Default) is an Event of Default (save for Clause 14.12 (Acceleration)).
The Credit Parties have requested that Lender agree to (a) make certain amendments to the Loan Agreement and (b) waive the Existing Events of Default.