Major Default definition

Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p) of this Note.

Major Default means any Event of Default occurring under Sections 4.1(a) or 4.1(k).

Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p).

Examples of Major Default in a sentence

• If, after this hearing, the City determines that the Major Default has not been cured, the City may, at its option, institute legal action to (i) terminate this Agreement, (ii) compel Owner to cure, correct, or remedy the alleged Major Default, (iii) enjoin any threatened or attempted violation of this Agreement, (iv) enforce the terms of this Agreement through specific performance, or (v) pursue any other equitable remedy.

• Before the City may declare a Major Default or a termination of this Agreement or bring a legal action to terminate this Agreement, the City shall provide written notice to Owner setting forth the nature of the Major Default and the actions, if any, required by Owner to cure the Major Default.

• If the nature of the alleged Major Default is such that it cannot reasonably be cured within the applicable Cure Period, Owner shall not be deemed to be in Major Default if it has commenced efforts to cure the Major Default within the applicable Cure Period and continues to diligently pursue completion of the cure.

• At any time during which an Owner has not been found to be in Major Default under this Agreement, City shall, upon written request by Owner, provide Owner with a written certificate of good faith compliance within fifteen (15) business days after City's receipt of that request.

• A "Major Default" is limited to the material and substantial failure by Owner to meet Owner's obligations to provide the Public Benefits contemplated by this Agreement after notice and a reasonable opportunity to cure an alleged Major Default.

More Definitions of Major Default

Major Default means any of the following Events of Default:

Major Default means a Default resulting from the occurrence of any of the events described in Section 10.1.(a), Section 10.1.(e) or Section 10.1.(f).

Major Default means a Default that has occurred and is continuing under Section 8.01(a), (b), (e), (f), (g), (j) (solely with respect to this Agreement, including Article IX) or (k).

Major Default means (i) any Event of Default; (ii) any Default arising from the failure to make any payment on account of interest to any Lender required under the Loan Documents or any fees payable to the Administrative Agent under the Fee Letter, in each case on or before the due date therefor; and (iii) any other Default written notice of which has been delivered by the Administrative Agent to the Borrower unless, in the case of this clause (iii), the Borrower has provided written notice to the Administrative Agent, within seven (7) days after notice of such Default has been delivered to the Borrower, stating that the Borrower shall undertake to cure such Default on or prior to the expiration of the applicable cure period therefor, if any, set forth in the definition of the term “Event of Default” (and setting forth the steps that the Borrower intends to take in order to effectuate such cure), and the Administrative Agent shall not have provided notice to the Borrower within five (5) Business Days after receipt of such notice from the Borrower, setting forth the Administrative Agent’s determination, in its reasonable discretion, that the steps set forth in the notice from the Borrower are not likely to result in the timely cure of such default. Notwithstanding the foregoing, for purposes of Sections 13.08 and 14.07(b)(i)(A), a Major Default of the type described in clause (ii) above shall not be deemed to “exist” unless the Borrower has received notice of such Major Default and has failed to cure such Major Default within five (5) Business Days.

Major Default means any Event of Default occurring under Sections 4.1(a) (payments), 4.1(c) (delivery of Installment Conversion Shares or True-Up Shares), 4.1(l) (Share Reserve), or 4.1(p) (breach of certain covenants) of this Note.

Major Default means the occurrence of any of the following events:

Major Default means (w) a failure to enter into an amendment required pursuant to Section 3 of the Fee Letter, (x) the written repudiation by any Borrower of any material obligation under the Loan Documents, (y) (other than to the extent that such Event of Default relates to, or is made in relation to, circumstances affecting any member of the Target Group) an Event of Default under paragraph (a), (b) (solely to the extent that it relates to a Major Representation), (c) (solely to the extent that it relates to a Major Undertaking), (d) (solely to the extent that it relates to a Major Undertaking), (f) or (i) of Section 8.01, or (z) any Borrower (other than Parent) or the Purchaser shall cease to be a direct or indirect Wholly-Owned Subsidiary of Parent.