Possible Default definition

Possible Default means any event, act or condition which with notice or lapse of time, or both, would constitute an Event of Default.

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Possible Default means an event, condition, situation or thing which constitutes, or which with the lapse of any applicable grace period or the giving of notice or both would constitute, an Event of Default.

Possible Default means an event, condition or thing known to the Company which constitutes, or which with the lapse of any applicable grace period or the giving of notice or both would constitute, any Event of Default and which has not been appropriately waived by the Lenders in writing or fully corrected prior to becoming an Event of Default.

Examples of Possible Default in a sentence

No Possible Default or Event of Default now exists or will exist upon the making of any Loan.
No event has occurred and no condition exists which, with the giving of notice or the lapse of time, or both, would constitute an Event of Default or Possible Default under the Credit Agreement.
Except as otherwise expressly provided herein, the execution and delivery of this Amendment by the Agents and the Banks shall not constitute a waiver or release of any obligation or liability of the Borrower under the Credit Agreement as in effect prior to the effectiveness of this Amendment or as amended hereby or waive or release any Event of Default or Possible Default existing at any time.
No Event of Default or Possible Default exists hereunder, nor will any begin to exist immediately after the execution and delivery hereof.
No Possible Default or Event of Default exists which would have or reasonably could have a Material adverse impact on the financial condition of the Company and the Consolidated Subsidiaries, taken as a whole.

More Definitions of Possible Default

Possible Default means an event, condition or thing which constitutes, or which with the lapse of any applicable grace period or the giving of notice or both would constitute, any event of default referred to in Article VII hereof and which has not been appropriately waived by Bank in writing or fully corrected prior to becoming an actual event of default.

Possible Default means any condition, event, act or omission which, with (a) the lapse of time or (b) the giving of notice or (c) both, would, unless cured or waived, constitute an Event of Default.

Possible Default means any event, condition, or thing which, with the lapse of any applicable grace period or the giving of notice, or both, would constitute an Event of Default.

Possible Default means an event, condition or thing which constitutes, or which with the lapse of any applicable grace period or the giving of notice or both would constitute, any Event of Default and which has not been appropriately waived by the Majority Banks in writing or fully corrected prior to becoming an actual Event of Default.

Possible Default means an event or condition which constitutes, or which, with the lapse of any applicable grace period or the giving of notice or both would constitute, any Event of Default referred to in Section 10 hereof and which has not been appropriately waived by the Bank in writing or fully corrected prior to becoming an actual event of default.

Possible Default. Any event, situation or thing which, with the lapse of any applicable grace period or the giving of notice or both, would constitute an Event of Default and which has not been consented to by the Bank in writing.

Possible Default means, an event, condition or thing