Note Default definition

Note Default means an “Event of Default” as defined in the Indenture.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Note Default means an “Event of Default” as defined in the Indenture or in any Additional Pari Passu Note Agreement.

Note Default means, with respect to the DCC Notes, any default or event of default, or any event or condition that with the passage time or the giving of notice or both would constitute a default or event of default, now in existence or hereafter occurring under or in respect of the DCC Notes and the other Existing DCC Note Documents, including, but not limited, any default or event of default that may have occurred as a result of the Bankruptcy Cases.

Examples of Note Default in a sentence

Any Permitted Investments with a maturity date will be held to their maturity, except that such Permitted Investments may be sold or disposed of before their maturity (i) if they relate to funds in the Reserve Account required to satisfy the Reserve Account Draw Amount on a Payment Date or (ii) in connection with the sale or liquidation of the Leases and Leased Vehicles following an Exchange Note Default under Section 6.6(a) of the Credit and Security Agreement.
If no Default, Event of Default or Exchange Note Default has occurred and is continuing, the Servicer may instruct the Indenture Trustee to invest any funds in the Bank Accounts in Permitted Investments and, if investment instructions are received, the Indenture Trustee will direct the Qualified Institution maintaining the Bank Accounts to invest the funds in the Bank Accounts in those Permitted Investments.
Notwithstanding the foregoing, the entire unpaid Exchange Note Balance of any Exchange Note will be due and payable on the date on which an Exchange Note Default with respect to such Exchange Note has occurred and is continuing, if the applicable Exchange Noteholder has declared such Exchange Note to be immediately due and payable in the manner provided in Section 6.3(c).
Any expenses incurred by the Collateral Agent after the occurrence of a Lending Facility Default or an Exchange Note Default are intended to constitute expenses of administration under the Bankruptcy Code or any other applicable federal or State bankruptcy, insolvency or similar law.
When the Administrative Agent or the Collateral Agent incurs expenses after the occurrence of a Lending Facility Default or an Exchange Note Default the expenses are intended to constitute expenses of administration under the Bankruptcy Code or any other applicable federal or State bankruptcy, insolvency or similar law.
No delay or omission of the Lender or any Exchange Noteholder of any Exchange Note to exercise any right or remedy accruing upon any Lending Facility Default or Exchange Note Default shall impair any such right or remedy or constitute a waiver of any such Lending Facility Default or Exchange Note Default or an acquiescence therein.
No delay or omission of the Lender or an Exchange Noteholder to exercise a right or remedy after a Facility Default, Facility Event of Default, Exchange Note Default or Exchange Note Event of Default will impair the right or remedy, or be a waiver of the Facility Default, Facility Event of Default, Exchange Note Default or Exchange Note Event of Default.
The Administrative Agent will not be deemed to have knowledge of a Facility Default, Facility Event of Default, Exchange Note Default or Exchange Note Event of Default unless (i) a Responsible Person of the Administrative Agent has knowledge of the Facility Default, Facility Event of Default, Exchange Note Default or Exchange Note Event of Default or (ii) it has received notice of the Facility Default, Facility Event of Default, Exchange Note Default or Exchange Note Event of Default.
No waiver will extend to any other Facility Default, Facility Event of Default, Exchange Note Default or Exchange Note Event of Default or impair any right relating to any other Facility Default, Facility Event of Default, Exchange Note Default or Exchange Note Event of Default.
On any waiver, the Facility Default, Facility Event of Default, Exchange Note Default or Exchange Note Event of Default will be considered not to have occurred for all purposes of this Agreement.

More Definitions of Note Default

Note Default means a Default, as such term is defined in the Indenture.

Note Default means an “Event of Default” as defined in the Note Indenture, Additional Notes Collateral Debt Agreement or any similar event or condition set forth in any other Note Document which causes, or permits holders of the applicable Note Obligations outstanding thereunder to cause, the Note Obligations outstanding thereunder to become immediately due and payable.

Note Default means the occurrence of an “Event of Default” under the Indenture.

Note Default or "Note Event of Default" means a Default or Event of Default under the Senior Subordinated Note Indenture.

Note Default has the meaning given to it in Section 11.01.

Note Default hereunder is defined as Core3's failure to cure within seven (7) days of written notice of breach received by Core3 (7 days being defined as the "cure period"). Upon a Note Default, the Debt, together with all accrued and unpaid interest, shall, at the option of Flexi, become immediately due and payable upon written notice by the Flexi. Each and every payment due to Flexi on the Debt shall be made in lawful money of the United States of America and in immediately available funds, and when made shall be first applied to interest due, and then to the reduction of the principal amount of the Debt.