Guarantor Default definition

Guarantor Default means a default by the Guarantor under its obligations pursuant to Article IX of the Note Purchase Agreement which is existing and continuing.

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Guarantor Default means any condition or event that with the giving of notice or lapse of time or both would, unless cured or waived, become a Guarantor Event of Default.

Guarantor Default means any Guarantor Event of Default or any event, act or condition which, with notice or lapse of time, or both, would constitute a Guarantor Event of Default.

Examples of Guarantor Default in a sentence

• The occurrence of any Guarantor Default and/or the termination or attempted termination of any Guaranty Agreement by any Person.

• Notwithstanding anything herein to the contrary, in no event will a Guarantor Blockage Period extend beyond 180 days after the receipt by the Trustee of the Guarantor Default Notice and only one such Guarantor Blockage Period may be commenced within any 360 consecutive days.

• No Guarantor Default shall have occurred and be continuing or result from or exist upon the effectiveness of this Agreement.

• The acceptance by any Secured Party at any time and from time to time of a partial payment or partial performance of any of Secured Guaranty Obligations set forth herein shall not be deemed a waiver, reduction, modification or release from any Guarantor Default then existing.

• Following the occurrence of a Guarantor Default, and during the continuance of a Forbearance Period, make any payments or prepayments of principal or interest on any outstanding Indebtedness except for regularly scheduled payments of principal and interest otherwise due in the absence of the Guarantor Default.

More Definitions of Guarantor Default

Guarantor Default. Default or breach or the occurrence of any event of default under any Guarantor Agreement.

Guarantor Default shall have the meaning given in Section 5.01 of the Guaranty Agreement.

Guarantor Default has the meaning assigned to such term in the Guaranty.

Guarantor Default means any condition or event which constitutes a Guarantor Event of Default or which with the giving of notice or lapse of time or both would, unless cured or waived, become a Guarantor Event of Default.

Guarantor Default. The occurrence of any default by any Guarantor or Sponsor, as the case may be, under the Limited Guaranty, the Guaranty Agreement or the Security Agreement, including, without limitation, any breach of any Sponsor Financial Covenant.

Guarantor Default shall have occurred under and as defined in that certain Limited Litigation Guaranty of even date herewith among the Guarantors and Agent.

Guarantor Default means an event which, with the giving of notice or lapse of time, or both, would become a Guarantor Event of Default.