Examples of Potential Acceleration Event in a sentence
The Borrower’s determination of the Interest Cancellation Amount and the Write Down Amount (if any) shall in the absence of fraud or manifest error be binding on all parties.Notwithstanding any other provision of this Agreement, an Interest Cancellation or a Write Down shall not constitute an Acceleration Event (or a Potential Acceleration Event) or a default under this Agreement.
Within 14 days of any request of the Lender, the Borrower shall deliver to the Lender and the Trustee a written notice in the form of an Officers’ Certificate stating whether any Potential Acceleration Event or Acceleration Event has occurred and, if it has occurred and shall be continuing, what action the Borrower is taking or proposes to take with respect thereto.
The obligation of the Lender to make the Advance shall be subject to the conditions precedent that as at the Closing Date (a) no Acceleration Event or Potential Acceleration Event shall have occurred, (b) the Lender shall have received the full funding of the Advance and that funding shall be and shall remain available in full to be on-lent to the Borrower and (c) the Lender shall have received in full the Facility Fee pursuant to Clause 4.2 (Facility Fee).
No Interest shall accrue from the Write Down Event Date and as long as a Write Down Event(s) is(are) continuing.Notwithstanding any other provision of this Agreement, an Interest Cancellation or a Write Down under this Clause 8 (Write Down) shall not constitute an Acceleration Event (or a Potential Acceleration Event) or a default by the Borrower under this Agreement and shall not oblige the Borrower to indemnify the Lender in accordance with Clause 14 (Indemnity).
Within 14 days of a request by the Lender, Sberbank shall deliver to the Lender a written notice in the form of an Officer's Certificate stating whether any Potential Acceleration Event or Acceleration Event or Write Down Event has occurred and, if it has occurred and shall be continuing, what action Sberbank is taking or proposes to take with respect thereto.