Parity Lien Default definition

Parity Lien Default means an “Event of Default” (as defined in any of the Parity Lien Documents), which is no longer subject to any applicable cure or notice period.
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Parity Lien Default means an “Event of Default’’ (as defined in any of the Parity Lien Documents).
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Parity Lien Default means any event or condition which, under the terms of the Indenture or any credit agreement, indenture or other agreement governing any Series of Parity Lien Debt causes, or permits holders of Parity Lien Obligations outstanding thereunder to cause, at such time, the entire principal amount of the Parity Lien Obligations outstanding thereunder to become immediately due and payable and all commitments to extend credit thereunder to be terminated.
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Examples of Parity Lien Default in a sentence

  • Make and type rated voltage and current making and breaking capacity, number of auxiliary contacts with control circuit voltage, magnet valve and coil details, overall dimensions and weight.

  • The Collateral Trustee will not be required to inquire as to the occurrence or absence of any Parity Lien Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Parity Lien Default unless and until it is directed by an Act of Required Parity Lien Debtholders and if required by the Collateral Trustee, an indemnity is provided under Section 5.9 hereof.

  • In Step 1, the detection of errors in the source and checking for edits in the output are performed.

  • No Secured Party shall by any act (except by a written instrument pursuant to Section 8.1), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to have acquiesced in any Collateral Trust Parity Lien Default.

Related to Parity Lien Default

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

  • Series of Parity Lien Debt means, severally, the Notes and each other issue or series of Parity Lien Debt for which a single transfer register is maintained.

  • Series of Priority Lien Debt means, severally, the Indebtedness (including, without limitation, revolving loans and letters of credit) outstanding under the Credit Agreement and any other Credit Facility that constitutes Priority Lien Debt.

  • Priority Lien Debt means Indebtedness of the Company and the Subsidiary Guarantors under the Priority Lien Credit Agreement (including reimbursement obligations with respect to letters of credit).

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

  • Indenture Default means, with respect to any Indenture, any Event of Default (as such term is defined in such Indenture) thereunder.

  • 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.

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

  • Parity Lien Obligations means Parity Lien Debt and all other Obligations in respect thereof.

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

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

  • 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.

  • Subordination Deficiency With respect to any Distribution Date, the excess, if any, of (a) the Specified Subordinated Amount applicable to such Distribution Date over (b) the Subordinated Amount applicable to such Distribution Date.

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

  • Junior Lien Debt means Indebtedness incurred by a Covenant Entity that is secured by a Lien that is junior to the Lien on the Collateral securing the Obligations.

  • Bank Default means (i) the refusal (which has not been retracted) of a Bank to make available its portion of any Borrowing or to fund its portion of any unreimbursed payment under Section 2.03(c) or (ii) a Bank having notified in writing the Borrower and/or the Agent that it does not intend to comply with its obligations under Section 1.01 or Section 2, in the case of either clause (i) or (ii) as a result of any takeover of such Bank by any regulatory authority or agency.

  • Parity Lien means a Lien granted by a Security Document to the Collateral Trustee upon any property of the Company or any other Obligor to secure Parity Lien Obligations.

  • Series of Junior Lien Debt means, severally, each issue or series of Junior Lien Debt for which a single transfer register is maintained.

  • 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.

  • Priority Lien Obligations means the Priority Lien Debt and all other Obligations in respect of Priority Lien Debt.

  • Parity Lien Documents means, collectively, the Note Documents and any additional indenture, supplemental indenture, credit agreement or other agreement governing each other Series of Parity Lien Debt and the Security Documents (other than any Security Documents that do not secure Parity Lien Obligations).

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

  • Bankruptcy Default has the meaning assigned to such term in Section 6.01.

  • 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.

  • Credit Default Swap means any credit default swap entered into as a means to (i) invest in bonds, notes, loans, debentures or securities on a leveraged basis or (ii) hedge the default risk of bonds, notes, loans, debentures or securities.

  • First Lien Debt means the Initial First Lien Debt and any Additional First Lien Debt.