Examples of Financing Default in a sentence
In the event of the Event of Financing Default, in addition to any other rights and remedies available to the Holder pursuant to this Note and the Note Purchase Agreement, the Holder shall have the right, in its sole and absolute discretion, to convert all or any lesser portion of the Note into the equity or assets to the Holder.
Concurrently with delivery by it to Operations Co of any notice of an Operations Co Financing Default, the Collateral Agent will provide a copy of such notice to Project Co and the Authority, together with reasonable details of such Operations Co Financing Default.
The term Financing Default shall mean an event which would constitute (or with notice or lapse of time or both would constitute) an event of default under any of the financing documents of the Company or its Affiliates from time to time (collectively, the “Financing Agreements”) and any restrictive financial covenants contained in the organizational documents of the Company or its Affiliates.
Whenever a Financing Default shall have happened and be continuing, the Escrow Agent shall have the right, at its sole option without any further demand or notice, to exercise any remedy available at law or in equity; however, the Financing Amount and the Financing Payments shall not be subject to acceleration.
Financing Default and Enforcement One of the proposals that has been suggested for this project, is to encourage mortgage finance companies to buy developer portfolios of installment sales contracts and substitute mortgage financing.