LC Event of Default definition

LC Event of Default means (a) the liquidation of a substantial portion of the Collateral has occurred, (b) any action by any Loan Party or any of their respective officers, directors, employees, affiliates, parent companies, agents or representatives has impeded the exercise of remedies of the Administrative Agent after an Event of Default or has impaired the value of the Collateral, (c) any information contained in any Borrowing Base Certificate was untrue or incorrect in any material respect when made, (d) any Loan Party has failed to comply with Section 7.2 (“Deposit Accounts; Cash Collateral; Credit Card Agreements”) hereof, (e) an Event of Default (and for the avoidance of doubt, other than pursuant to Section 7.2, Section 11.1(b)(i) (solely as it relates to a Borrowing Base Certificate), Section 11.1(j) hereof) has existed for a period of four (4) months; (f) an Event of Default pursuant to Section 11.1(j) hereof has occurred; (g) a proceeding or case under the Bankruptcy Code or any Canadian Debtor Relief Law has been commenced by or against any Loan Party, (h) a Montrovest LC Event has occurred, (hor (i) the Montrovest LC Issuer fails to maintain a credit rating of at least “A-” by S&P or “A3” by Moody’s, or (i) the occurrence of any other “LC Event of Default” as defined in the Revolving Credit Agreement.
Sample 1
LC Event of Default means (a) the liquidation of a substantial portion of the Collateral has occurred, (b) any action by any Loan Party or any of their respective officers, directors, employees, affiliates, parent companies, agents or representatives has impeded the exercise of remedies of the Administrative Agent after an Event of Default or has impaired the value of the Collateral, (c) any information contained in any Borrowing Base Certificate was untrue or incorrect in any material respect when made, (d) any Loan Party has failed to comply with Section 7.2 (“Deposit Accounts; Cash Collateral; Credit Card Agreements”) hereof, (e) an Event of Default (and for the avoidance of doubt, other than pursuant to Section 7.2, Section 11.1(b)(i) (solely as it relates to a Borrowing Base Certificate), Section 11.1(j) hereof) has existed for a period of four (4) months; (f) an Event of Default pursuant to Section 11.1(j) hereof has occurred; (g) a Montrovest LC Event has occurred, (h) the Montrovest LC Issuer fails to maintain a credit rating of at least “A-” by S&P or “A3” by Xxxxx’x, or (i)the occurrence of any other “LC Event of Default” as defined in the Revolving Credit Agreement.
Sample 1

Examples of LC Event of Default in a sentence

  • Subject to the provisions of Paragraph 15(c), upon the occurrence of an L/C Event of Default, the DIP L/C Issuer is authorized to exercise its rights and remedies under or pursuant to the DIP L/C Facility Documents, the Interim Order, this Final Order and applicable law.

Related to LC Event of Default

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Specified Event of Default means any Event of Default pursuant to Section 9.01(a), Section 9.01(f) or Section 9.01(g).

  • Issuer Event of Default means the occurrence of any of the following events:

  • Event of Default has the meaning specified in Section 8.01.

  • Owner Event of Default has the meaning set forth in Section 20.3.

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Bond Event of Default means the occurrence of any of the following (or such event or condition which with notice or lapse of time or both would constitute any of the following):

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

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • Senior Event of Default means an Event of Default under the Senior Loan Documents.

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

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

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

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

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • Potential Issuer Event of Default means any condition, event or act which, with the lapse of time and/or the issue, making or giving of any notice, certification, declaration, demand, determination and/or request and/or the taking of any similar action and/or the fulfilment of any similar condition, would constitute an Issuer Event of Default;

  • Unmatured Event of Default means any event that, if it continues uncured, will, with lapse of time, notice or lapse of time and notice, constitute an Event of Default.

  • Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

  • Servicer Event of Default wherever used herein, means any one of the following events:

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • Debenture Event of Default means an "Event of Default" as defined in the Indenture.