Major Defaults definition

Major Defaults is defined in Section 5.5.3.
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Major Defaults means any Events of Default pursuant to Section 9.1(a), Section 9.1(b), (solely with respect to the Company) Section 9.1(f), and (solely with respect to the Company) Section 9.1(g) hereof and any Defaults (solely to the extent arising from noncompliance with Section 7.10) pursuant to Section 9.1(d).
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Major Defaults means an Event of Default pursuant to Section 8.1.4 (provided that the Forbearing Party concludes in good faith that such Event of Default could reasonably be expected to have a Material Adverse Effect), Section 8.1.5(a) (only with respect to Sections 5.1.2, 5.17, 5.19, 5.25, 6.2, 6.3, 6.4, 6.6.2, 6.11(a), 6.30), Section 8.1.6, Section 8.1.8, Section 8.1.9, Section 8.1.10, Section 8.1.12(a), Section 8.1.12(b) (other than with respect to violations of the Original Air Permit solely to the extent addressed by the Major Source Permit), Section 8.1.13, Section 8.1.15 (except for Major Project Documents to which an Affiliate of the Company is a party), Section 8.1.16 and Section 8.1.17 of the Credit Agreement.
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Examples of Major Defaults in a sentence

  • In addition the concrete mathematical ex- pression for Ψin may be obtained either from theoretical investigations (e.g. by solving the adequate Schrodinger equation) or from a priori considerations (not supported by factual studies).

  • We discuss matters including reducing impact of the event, sound control, stewarding, toilet provision, policing and waste management.

  • The Major Defaults apply to the Borrower only and not to the Target and its Subsidiaries.

  • In these countries a considerable share of workers are employed in jobs that do not take full advantage of their skill set and human capital.5 Box 1.1. Defining and measuring skill shortages and mismatch Although there is no strict definition, skills mismatch and shortage describe situations in which workers’ skills exceed or fall short of those required for the job under the current market conditions (Handel, 2003; Shah and Burke, 2005).

  • Secondary school places are expected to come under pressure by 2019/20 but there is considered to be sufficient scope for expansion within local secondary schools.

  • In addition, after disbursing such proceeds to Kiebler, [HNB] made further disbursements to Kiebler despite [HNB’s] previous knowledge that Kiebler had not paid the contractors the amounts disbursed in prior requisitions ” and that by “disbursing loan proceeds to Kiebler despite [HNB’s]knowledge that Kiebler was not using those loan proceeds to pay the contractors, including Martik , [HNB] intentionally and/or recklessly depleted the loan proceeds available to payMartik .

  • Community input into the development of these policies is essential to ensure that any concerns are aired and the cameras meet the needs of the community.

  • The PCR also made no reference on how these operations in any way complemented the loans granted through the ADB nonsovereign window during an overlapping time frame and to some of the same PFIs. Based on the above analysis, this validation assesses the PCR quality less than satisfactory.47 C.

  • The Major Representations relating to the BorrowerCompany and the Guarantors shall be true and correct in all material respects (or, in all respects, if qualified by materiality) and there shall be no Major Defaults relating to the BorrowerCompany and the Guarantors after giving effect to the Transactions.

  • The Major Representations relating to the Borrower and the Guarantors shall be true and correct in all material respects (or, in all respects, if qualified by materiality) and there shall be no Major Defaults relating to the Borrower and the Guarantors after giving effect to the Transactions.

Related to Major Defaults

  • 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.

  • Minor Default means any Event of Default that is not a Major Default.

  • Senior Default means any Default or Event of Default under the Senior Credit Agreement or any document referred to therein.

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

  • 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.

  • 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:

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

  • Landlord Default shall have the meaning given such term in Article 14.

  • 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).

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

  • Material Default means a material breach of this Framework Agreement and/or, breach by the Supplier of any of the following Clauses: Clause 8 (Warranties and Representations), Clause 9 (Prevention of Bribery and Corruption), Clause 13 (Statutory Requirements and Standards), Clause 14 (Non-Discrimination), Clause 15 (Provision of Management Information), Clause 16 (Management Charge), Clause 17 (Records and Audit Access), Clause 22 (Data Protection), Clause 23 (Freedom of Information) and Clause 31 (Transfer & Sub-contracting);

  • 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.

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

  • Contractor Default shall have the meaning set forth in Clause 23.1;

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

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

  • O & M Default means any default on the part of the Power Producer for a continuous period of ninety (90) days to (i) operate and/or (ii) maintain (in accordance with Prudent Utility Practices), the Project at all times.

  • 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)).

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

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

  • Forbearance Default means (A) the occurrence of any Default (as defined in the GE Loan Agreement) or any Event of Default (as defined in the TCFC Loan Agreement) other than the Specified Defaults, (B) the failure of any Borrower or any other Loan Party to comply timely with any term, condition, or covenant set forth in this Agreement, (C) the failure of any representation or warranty made by any Borrower or any other Loan Party under or in connection with this Agreement to be true and complete in all material respects as of the date when made or any other breach of any such representation or warranty in any material respect, (D) any occurrence, event or change in facts or circumstances occurring on or after the Effective Date that would have a Material Adverse Change (as defined in either Loan Agreement) on any Borrower or any other Loan Party or any of their respective financial conditions, businesses, prospects or assets, (E) (I) any breach by Travis or any other Loan Party of any provision of the Merxxx Xgreement or any other agreement, instrument or document executed in connection therewith, (II) any failure by Travis or TRMC to satisfy any condition precedent to txx xxxectiveness of the Merger Agreement or any other agreement, instrument or document executed in connection therewith, (III) any termination or purported termination by any party thereto of the Merger Agreement, or (IV) any other failure of the Merger Agreement to remain in full force and effect at any time, (F) any breach by Tracker of any of the provisions of that certain letter agreement dated on or about the date hereof between Tracker and Lender (the "Tracker Letter Agreement"), including, without limitation, any failure by Tracker to fund any working capital shortfall of Travis pursuant to Section 7 of the Tracker Letter Agreement, ox (X) any determination made by Lender in its sole discretion at any time that Lender, Travis and Tracker (or its affiliate, TMRC) have failed or arx xxxble to reach agreement on the terms for restructuring the credit facilities under the Loan Documents or on any other matters referenced in Section 6.03(g) of the Merger Agreement. Any Forbearance Default shall constitute an immediate Default under the GE Loan Agreement and an immediate Event of Default under the TCFC Loan Agreement.

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

  • in default means that, as to any Mortgage Loan, any Mortgage Note payment or escrow payment is unpaid for thirty (30) days or more after its due date (whether or not the Seller has allowed any grace period or extended the due date thereof by any means) or another material default has occurred and is continuing, including the commencement of foreclosure proceedings or the commencement of a case in bankruptcy for any Customer in respect of such Mortgage Loan.

  • Modification Default Loss means the loss calculated in Exhibits 2a(1)-(3) for single family loans previously modified pursuant to this Single Family Shared-Loss Agreement that subsequently default and result in a foreclosure, short sale or Deficient Loss.

  • Customer Default shall have the meaning set forth in Section 11.1.

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