Guaranty Event definition

Guaranty Event means any of the following events with respect to a Loan:
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Guaranty Event means that the Applicable Credit Rating issued by at least one Rating Agency is at least one level below the Minimum Investment Grade Rating.
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Guaranty Event means any of the following events:
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Examples of Guaranty Event in a sentence

  • At any time while a Guaranty Event of Default has occurred and is continuing, Guarantor shall pay or deliver all dividends and distributions received upon or with respect to the Guarantor Collateral to the Trustee promptly and in any event within three Business Days of its receipt thereof and the same shall thereafter be held by the Trustee as Guarantor Collateral hereunder.

  • Unless a Guaranty Event of Default has occurred and is continuing, Guarantor shall be entitled to receive and retain all dividends and distributions made upon or with respect to the Guarantor Collateral.

  • Promptly upon receiving notice thereof, Guarantor will give, or cause to be given, prompt written notice of (a) any Guaranty Default or Guaranty Event of Default and (b) any actions, proceedings or notices adversely affecting the Lien of the Trustee in the Guarantor Collateral.

  • At any time and from time to time after the occurrence and during the continuance of a Guaranty Event of Default, the Trustee may cause all or any of the Guarantor Collateral to the extent not already held in "street name" to be transferred to or registered in its name or the name of its nominee or nominees.

  • No Guaranty Default or Guaranty Event of Default has occurred and is continuing.

  • No single or partial waiver by the Trustee or any Holder of any Guaranty Default or Guaranty Event of Default or right or remedy which it may have shall operate as a waiver of any other Guaranty Default, Guaranty Event of Default, right or remedy or of the same Guaranty Default, Guaranty Event of Default, right or remedy on a future occasion.

  • Provided no Default arising under Section 7.01(h) or Event of Default is then continuing, the Parent Guaranty provided by the Parent Entities shall be automatically released at such time as no Parent Guaranty Event exists.

  • A delay or omission by the Trustee in exercising any right or remedy accruing upon a Guaranty Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Guaranty Event of Default.

  • After giving effect to this Amendment, no Guaranty Event of Default or other Event of Default shall exist.

  • If any Parent Guaranty Event occurs, then, each of the Parent Entities shall become a Guarantor by executing and delivering to the Administrative Agent within forty-five (45) days of such occurrence, a Parent Guaranty, together with the items that would have been delivered under Section 4.01(c)(i) through (iv), and Section 4.01(e) as if each of the Parent Entities had been a Guarantor on the Effective Date.


More Definitions of Guaranty Event

Guaranty Event means the failure at any time of the Company and the Guarantors, as of the last day of any Fiscal Quarter (determined on a consolidated basis for the Company and the Guarantors but without regard to any Subsidiaries which are not Guarantors), to constitute the source of at least seventy percent (70%) of the Consolidated Operating Income of the Company and its Subsidiaries (excluding any Special Purpose Subsidiary) for the four Fiscal Quarter period ending on such date or to hold at least seventy percent (70%) of the Consolidated total assets of the Company and its Subsidiaries (excluding any Special Purpose Subsidiary) on such date.
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Guaranty Event in each of the Guaranty Agreements is revised as follows:
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Guaranty Event means the failure at any time of the Company and the Guarantors, as of the last day of any Fiscal Quarter (determined on a consolidated basis for the Company and the Guarantors but without regard to any Subsidiaries which are not Guarantors), to constitute the source of at least seventy percent (70%) of the Consolidated Operating Income of the Company and its Subsidiaries for the four Fiscal Quarter period ending on such date or to hold at least seventy percent (70%) of the Consolidated total assets of the Company and its Subsidiaries on such date. Guaranty Obligations shall mean a guaranty, an endorsement, a contingent agreement to purchase or to furnish funds for the payment or maintenance of, or otherwise to be or become contingently liable under or with respect to, the Debt, other obligations, net worth, working capital or earnings of any Person, or a guarantee of the payment of dividends or other distributions upon the Capital Securities of any Person, or an agreement to purchase, sell or lease (as lessee or lessor) real property, products, materials, supplies or services primarily for the purpose of enabling a debtor to make payment of such debtor's obligations or an agreement to assure a creditor against loss, and including, without limitation, causing a bank or other financial institution to issue a letter of credit or other similar instrument for the benefit of another Person, but excluding endorsements for collection or deposit in the ordinary course of business. Group - see Section 2.2.1.
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Guaranty Event means the execution by one or more Subsidiaries of a guaranty, or a joinder to a guaranty, of (a) any obligations of the Company under the Revolving Credit Agreement or (b) any of the Senior Notes.
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Guaranty Event. (as defined in the Guaranty Agreement) occurs with respect to such Bank of America Conforming Loan; or
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Related to Guaranty Event

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

  • Security Event means an immediately reportable subset of security incidents which incident would include:

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

  • Warranty Event As to any Asset, the discovery that as of the related Cut-Off Date or Funding Date there had existed a breach of any representation or warranty relating to such Asset and the continuance of such breach through any applicable determination date or beyond any applicable cure period.

  • Foreign Casualty Event shall have the meaning assigned to such term in Section 2.05(b)(viii).

  • Equity Event is the receipt by Borrower on or after the Effective Date of unrestricted net cash proceeds of not less than Forty Million Dollars ($40,000,000.00) from the issuance and sale by Borrower of its equity securities, on or before March 31, 2016 and the receipt of evidence thereof by Collateral Agent on or before such date, which evidence must be reasonably acceptable to Collateral Agent.

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Accelerated Borrowing Base Delivery Event means either (i) the occurrence and continuance of any Event of Default, or (ii) the failure, for a period of at least three (3) consecutive Business Days, of the Borrowers to maintain Availability at least equal to the greater of (a) fifteen percent (15%) of the Loan Cap, or (b) $9,750,000.00. For purposes of this Agreement, the occurrence of an Accelerated Borrowing Base Delivery Event shall be deemed continuing (i) so long as such Event of Default has not been waived, and/or (ii) if the Accelerated Borrowing Base Delivery Event arises as a result of the Borrowers’ failure to achieve Availability as required hereunder, until Availability has exceeded the greater of (x) fifteen percent (15%) of the Loan Cap, or (y) $9,750,000.00 for thirty (30) consecutive calendar days, in which case an Accelerated Borrowing Base Delivery Event shall no longer be deemed to be continuing for purposes of this Agreement. The termination of an Accelerated Borrowing Base Delivery Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Accelerated Borrowing Base Delivery Event in the event that the conditions set forth in this definition again arise.

  • Non-Guarantor Restricted Subsidiary means any Restricted Subsidiary that is not a Subsidiary Guarantor.

  • Acquisition Event means a merger or consolidation in which the Company is not the surviving entity, any transaction that results in the acquisition of all or substantially all of the Company’s outstanding Common Stock by a single person or entity or by a group of persons and/or entities acting in concert, or the sale or transfer of all or substantially all of the Company’s assets.

  • Default under Specified Transaction provisions of Section 5(a)(v) will not apply to Party A and will not apply to Party B.

  • Debt Repayment Triggering Event means any event or condition which gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

  • Collateral Event means that no Relevant Entity has credit ratings at least equal to the Approved Ratings Threshold.

  • Non-Guarantor Subsidiary means any Restricted Subsidiary that is not a Guarantor.

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

  • Permitted Acquisition Indebtedness means Indebtedness (including Disqualified Stock) of the Company or any of the Restricted Subsidiaries to the extent such Indebtedness was Indebtedness:

  • Specified Asset Sale has the meaning specified in Section 2.05(b)(vi).

  • Permitted SBIC Guarantee means a guarantee by the Borrower of Indebtedness of an SBIC Subsidiary on the SBA’s then applicable form, provided that the recourse to the Borrower thereunder is expressly limited only to periods after the occurrence of an event or condition that is an impermissible change in the control of such SBIC Subsidiary (it being understood that, as provided in clause (s) of Article VII, it shall be an Event of Default hereunder if any such event or condition giving rise to such recourse occurs).

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Financing Event means the earlier of (i) a public offering by the Company of its Common Stock with aggregate gross proceeds of at least $5 million; or (ii) the listing of the Company’s Common Stock on a National Securities Exchange, as such term is defined under the Exchange Act.

  • Acquisition Indebtedness Indebtedness of (A) the Borrower or any Restricted Subsidiary Incurred to finance or refinance, or otherwise Incurred in connection with, any acquisition of any assets (including Capital Stock), business or Person, or any merger or consolidation of any Person with or into the Borrower or any Restricted Subsidiary, or (B) any Person that is acquired by or merged or consolidated with or into the Borrower or any Restricted Subsidiary (including Indebtedness thereof Incurred in connection with any such acquisition, merger or consolidation).

  • Consolidated First Lien Secured Debt means Consolidated Total Debt as of such date that is not Subordinated Indebtedness and is secured by a Lien on all of the Collateral that ranks on an equal priority basis (but without regard to the control of remedies) with Liens on all of the Collateral securing the Obligations.

  • Recovery Event any settlement of or payment in respect of any property or casualty insurance claim or any condemnation proceeding relating to any asset of any Group Member.

  • Casualty Event means any event that gives rise to the receipt by the Parent Borrower or any Restricted Subsidiary of any insurance proceeds or condemnation awards in respect of any equipment, fixed assets or real property (including any improvements thereon) to replace or repair such equipment, fixed assets or real property.

  • Specified Acquisition means one or more acquisitions of assets, equity interests, entities, operating lines or divisions in any fiscal quarter for an aggregate purchase price of not less than $200,000,000 (it being understood that such consideration shall be determined based on the payment made at the time of the transaction, without regard to any subsequent or earnout payments).