Plan Event of Default definition

Plan Event of Default means the failure to have a Qualified Plan to be substantially consummated by the Outside Date (as defined in the Restructuring Support Agreement on the date hereof).
Sample 1Sample 2Sample 3
Plan Event of Default means the failure to have a Qualified Plan to be substantially consummated by January 31, 2017 (the “Qualified Plan Outside Date”); provided, however, that, notwithstanding the foregoing, if the Plan Support Agreement has not been terminated, the Qualified Plan Outside Date shall automatically extend and a Plan Event of Default shall not occur, during the period that the Plan Support Agreement has not terminated; provided, however, that, notwithstanding the foregoing, if the order confirming the Qualified Plan has not been entered by the Qualified Plan Confirmation Order Outside Date, a Plan Event of Default shall occur; provided, however, if the Plan Support Agreement terminates prior to the Qualified Plan Confirmation Order Outside Date, the Milestone Parties may not terminate this Term Sheet due to a Plan Event of Default for a period of time not to exceed the lesser of (a) thirty days and (b) the number of days between the Plan Support Agreement termination date and the Qualified Plan Confirmation Order Outside Date (such lesser number of days, the “Grace Period”) if the CHC Parties pay to the Milestone Parties the Grace Period Fee, which Grace Period Fee shall be due and payable on the Qualified Plan Confirmation Order Outside Date; provided, however, that, notwithstanding the foregoing, if by the Qualified Plan Confirmation Order Outside Date, there shall have occurred the substantial consummation (i.e., the effective date) of a plan of reorganization for the CHC Parties that provides for an investment of not less than $300,000,000 of new equity capital in the CHC Parties, and the assumption pursuant to Section 365 of the Bankruptcy Code of all Definitive Restructuring Documents (including the Existing Facility Documents as amended pursuant to the terms hereof) for the Committed Aircraft and the Incremental Aircraft, and provides for all payments required hereunder, and that is otherwise acceptable to the Milestone Parties in their sole and absolute discretion, no Plan Event of Default shall occur.
Sample 1

Examples of Plan Event of Default in a sentence

  • All original Manufacturer’s invoices and title documents evidencing the Floor Plan Borrowers’ ownership of all of their Motor Vehicles financed hereunder, including, without limitation, the Manufacturer’s Certificate, shall be maintained in safekeeping by the Floor Plan Borrowers in a manner acceptable to the Floor Plan Agent, unless and until a Floor Plan Event of Default has occurred and is continuing.

  • Notwithstanding the foregoing, subject to the terms and conditions of Article XII hereof, the Floor Plan Agent may take all actions reasonably necessary to suspend and/or terminate Drafts in accordance with Section 11.4 and following the occurrence of any Default (relating to a Floor Plan Event of Default) or Floor Plan Event of Default.

  • Notwithstanding the foregoing, the Lenders shall continue to make Floor Plan Loans available to all Floor Plan Borrowers with respect to which no Floor Plan Event of Default has occurred until otherwise provided in Section 11.3(c) above.

  • Notwithstanding the foregoing, the Lenders shall continue to make Floor Plan Loans available to all Floor Plan Borrowers with respect to which no Floor Plan Event of Default has occurred until otherwise provided in Section 11.4(c) below.

  • All Participants’ Loans may become due and payable if a Plan Event of Default as defined in the Facility Agreement occurs.

  • A Participant’s Loan may become due and payable if a Borrower Event of Repayment as defined in the Master Promissory Note occurs that is not a Plan Event of Default.

  • Upon the occurrence of the PSA Approval Date, the parties agree that each “bankruptcy” or “insolvency” event of default under the Existing Facility Documents shall be waived during the pendency of the Chapter 11 Case and shall be amended to provide that the Chapter 11 Case shall be excluded therefrom, but it shall be an Event of Default if (A) a Liquidation Event of Default shall occur or (B) a Plan Event of Default shall occur.

  • Notwithstanding the foregoing, subject to the terms and conditions of ARTICLE XII hereof, the Floor Plan Agent may take all actions reasonably necessary to suspend and/or terminate Drafts in accordance with Section 11.4 and following the occurrence of any Default (relating to a Floor Plan Event of Default) or Floor Plan Event of Default.

  • No Borrower will (A) distribute any funds from the Concentration Accounts or from any Floor Plan Borrower Dealership Account to any Floor Plan Borrower with respect to which any Floor Plan Event of Default exists, except to the extent necessary to cure such Floor Plan Event of Default or (B) receive funds from any Floor Plan Borrower Dealership Account from any Floor Plan Borrower with respect to which any Floor Plan Event of Default exists.

  • Notwithstanding the foregoing, subject to the terms and conditions of Article XII hereof, the Floor Plan Agent may take all actions reasonably necessary to suspend and/or terminate Drafts in accordance with Section 11.4 following the occurrence of any Floor Plan Event of Default allowing the exercise of remedies under Section 11.4(c).

Related to Plan Event of Default

  • 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).

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Loan Event of Default An “Event of Default” as defined in the Loan 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.

  • 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)).

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

  • Event of Default wherever used herein, means any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body):

  • 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).

  • Specified Event of Default means any Event of Default under Section 8.01(a), (f) or (g).

  • Owner Event of Default has the meaning specified in Section 16.2.

  • Issuer Event of Default means the occurrence of any of the following events:

  • Senior Event of Default means an Event of Default under (and as defined in) the Senior Facilities Agreement.

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

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

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

  • Bond Event of Default means the occurrence of any of the following (or such event or condition which with notice or lapse of time or both would constitute any of the following):

  • Potential Issuer Event of Default means any condition, event or act which, with the lapse of time and/or the issue, making or giving of any notice, certification, declaration, demand, determination and/or request and/or the taking of any similar action and/or the fulfilment of any similar condition, would constitute an Issuer Event of Default;

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

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

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

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

  • Mortgage Loan Event of Default means an “Event of Default” as defined in the Mortgage Loan Agreement.

  • Company Event of Default bears the meaning ascribed thereto in Section 13.1; “Company Notice of Default” bears the meaning ascribed thereto in Section 13.2;

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

  • Insurance Agreement Event of Default means an "Event of Default" as defined in the Insurance Agreement.