Material Manager Default definition

Material Manager Default has the meaning specified in the Management Services Agreement, as of the Closing Date.
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Material Manager Default has the meaning specified in the Management Services Agreement.
Sample 1Sample 2

Examples of Material Manager Default in a sentence

  • In the event that the Manager shall be terminated due to a Material Manager Default or Event of Default have occurred or is continuing, the Majority Noteholders will have the right but not the obligation to appoint, a replacement manager as soon as reasonably practicable, but in any event within thirty (30) days following such delivery of notice of termination and notify the Issuer of such appointment.

  • In the event that the Manager shall be terminated due to a Material Manager Default or if a Default or Event of Default have occurred or is continuing, the Majority Noteholders shall appoint a replacement manager as soon as reasonably practicable, but in any event within thirty (30) days following such delivery of notice of any such resignation or termination and notify the Depositor of such appointment.

  • Unless provided by Issuer (or the Manager on its behalf) on an earlier date, if a Material Manager Default, Default or Event of Default occurs and is continuing and if it is known to the Indenture Trustee pursuant to Section 6.1(i), the Indenture Trustee shall mail to each Noteholder, each Hedge Counterparty and each Rating Agency notice of the Material Manager Default, Default or Event of Default within five (5) days after receipt of such knowledge.

  • In the event that the Manager shall be terminated due to a Material Manager Default, or if an Event of Default has occurred or is continuing, the Majority Noteholders will have the right but not the obligation to appoint, a replacement manager as soon as reasonably practicable, but in any event within thirty (30) days following such delivery of notice of termination and notify the Issuer of such appointment.

Related to Material Manager 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);

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

  • Servicer Default means an event specified in Section 8.01.

  • Material Event of Default means any Event of Default arising under Section 10.01(a), 10.01(b) (solely with respect to a default related to Section 8.01, 8.20 or 9.13), 10.01(f), 10.01(i), 10.01(j), 10.01(n) or 10.01(o).

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

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

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

  • Senior Default means any Senior Payment Default or Senior Covenant Default.

  • Incipient Default means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default.

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

  • Purchaser Default has the meaning set forth in Section 12.2 (a).

  • Seller Default has the meaning set forth in Section 11.2.

  • Potential Material Event means any of the following: (i) the possession by the Company of material information not ripe for disclosure in the Registration Statement, which shall be evidenced by determinations in good faith by the Board of Directors of the Company that disclosure of such information in the Registration Statement would be detrimental to the business and affairs of the Company, or (ii) any material engagement or activity by the Company which would, in the good faith determination of the Board of Directors of the Company, be adversely affected by disclosure in the Registration Statement at such time, which determination shall be accompanied by a good faith determination by the Board of Directors of the Company that the Registration Statement would be materially misleading absent the inclusion of such information.

  • Material Event or “Material Information” shall mean such event or information as set out in the Schedule or as may be determined in terms of Clause 3 of the Policy. In the Policy, the words, “material” and “materiality” shall be construed accordingly.

  • Special Default means (i) the failure by Owner to pay any amount of principal of or interest on any Equipment Note when due or (ii) the occurrence of any Default or Event of Default referred to in Section 5.01(v), (vi) or (vii).

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

  • Buyer Default refers to nonpayment of the Xxxxxxx Money in accordance with the provisions of this Agreement (including nonpayment or dishonor of any check delivered for the Xxxxxxx Money) and/or the failure of this transaction to close due to nonperformance, breach and/or default with respect to the Buyer’s obligation(s) under this Agreement. In the event of a Buyer Default, the following provisions shall apply:

  • Financial Default means the total cessation or partial suspension of operations due to insolvency, with or without the filing of a bankruptcy petition by a tour operator, Cruise line, or airline.

  • Material Document Defect As defined in Section 2.03(a) of this Agreement.

  • 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.

  • 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.

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

  • Well-Known Seasoned Issuer means a well-known seasoned issuer, as defined in Rule 405.