Guaranty Event of Default definition

Guaranty Event of Default means any an “Event of Default” as defined in the Guaranty Agreement.

Guaranty Event of Default. Has the meaning set forth in the Guaranty.

Guaranty Event of Default means any default by the Guarantor of any of its covenants, agreements or obligations contained under the Guaranty Agreement.

Examples of Guaranty Event of Default 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.

More Definitions of Guaranty Event of Default

Guaranty Event of Default means (a) either (i) a Lakes Event of Default under the Development Agreement, (ii) a Manager Event of Default under the Management Agreement, or (iii) any other default or breach by Great Lakes under the Guaranteed Obligations; in each case after all cure periods have expired and either the time within which arbitration may be demanded has expired or, if arbitration has been timely demanded, the arbitrator has issued his award and the award determines that Great Lakes is in default or breach under a Guaranteed Obligation; or (b) the receivership, insolvency, bankruptcy, assignment for the benefit of creditors, reorganization, arrangement, composition or readjustment of, or any similar proceeding affecting Great Lakes or any Guarantor or any of its or their assets.

Guaranty Event of Default means the Pledgor's failure to pay in full immediately on the Guaranty Due Date (as defined in the Guaranty) all amounts owing under the Guaranty. Subject to the provisions of Section 1(a) with respect to maintaining the Required Collateral Amount and so long as no Guaranty Event of Default shall have occurred and be continuing, or shall result therefrom: (i) each Securities Intermediary, with the prior written consent of the Bank (which consent shall be granted provided that no Guaranty Event of Default shall have occurred and be continuing or shall result therefrom), shall permit the Pledgor to withdraw principal from the Collateral Account, (ii) each Securities Intermediary shall remit dividends, warrants, profits, interest and other distributions on the Collateral (to the extent the same are received by such Securities Intermediary) to the Pledgor and the Pledgor shall have the right to receive dividends, warrants, profits, interest and other distributions on the Collateral (whether or not remitted by such Securities Intermediary); and (iii) the Pledgor shall have, directly or through one or more investment manager, the right to vote all of the securities comprising the Collateral and to give consents, ratifications and waivers with respect thereto. Upon the written request of the Pledgor with respect to assets replaced by substitute Collateral in accordance with Section 1(a) and provided that no Guaranty Event of Default shall have occurred and then be continuing or shall result therefrom, the Bank shall release its Liens on such assets as identified by the Pledgor and held in or credited to the Collateral Account but only to the extent that, after giving effect to such release, the Aggregate Lending Value of the Collateral exceeds the then Required Collateral Amount.

Guaranty Event of Default is defined in Section 7 of the Guaranty.

Guaranty Event of Default means the Pledgor's failure to immediately pay in full on the Guaranty Due Date (as defined in the Guaranty) all amounts owing under the Guaranty.

Guaranty Event of Default means any Event of Default under and as defined in the Guaranty.

Guaranty Event of Default has the meaning set forth in Section 7.1 hereof.

Guaranty Event of Default occurs if: