Potential Amortization Event definition

Potential Amortization Event means an event which, with the passage of time or the giving of notice, or both, would constitute an Amortization Event.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Potential Amortization Event means any occurrence or event that, with the giving of notice, the passage of time or both, would constitute a Amortization Event.

Potential Amortization Event shall have the meaning specified in the Purchase Agreement.

Examples of Potential Amortization Event in a sentence

• The Borrower hereby certifies that no Potential Amortization Event or Amortization Event has occurred and is continuing.

• The Administrative Agent shall take such action with respect to such Amortization Event or Potential Amortization Event as shall be directed by any Lender.

• Neither the Administrative Agent nor any Lender shall be deemed to have knowledge or notice of the occurrence of any Amortization Event or Potential Amortization Event unless it has received notice from the Administrative Agent or another Lender, as applicable, or a Loan Party referring to this Agreement, stating that an Amortization Event or Potential Amortization Event has occurred hereunder and describing such Amortization Event or Potential Amortization Event.

• The occurrence of each Amortization Event and each Potential Amortization Event.

More Definitions of Potential Amortization Event

Potential Amortization Event means, with respect to any Series of Group II Notes, any occurrence or event which, with the giving of notice, the passage of time or both, would constitute an Amortization Event with respect to such Series of Group II Notes.

Potential Amortization Event means an event which, with the passage of any applicable cure period or the giving of notice, or both, would constitute an Amortization Event. For the avoidance of doubt but without limiting the generality of the foregoing, the occurrence of any event or condition under any agreement or instrument relating to any Material Indebtedness of any Originator which continues after any applicable grace period or notice, if any, specified in such agreement or instrument, which permits the holder thereof to accelerate, the maturity of such Material Indebtedness or require such Material Indebtedness to be prepaid (other than by a regularly scheduled required prepayment), redeemed, purchased or defeased, or require any Obligor to offer to repay, redeem, purchase or defease such Material Indebtedness, in each case prior to the stated maturity thereof shall constitute a Potential Amortization Event hereunder; provided, that any such event or condition as to which any applicable grace period or notice requirement applies which does not remain continuing beyond such applicable grace period or notice requirement shall not constitute a Potential Amortization Event.

Potential Amortization Event means an event that, with the giving of notice or passage of time or both, would constitute an Amortization Event (other than an Amortization Event as set forth in clauses (n) and (o) of Article IV).

Potential Amortization Event has the meaning specified, with respect to any Group of Notes or Series of Notes, in the applicable Group/Series Supplement.

Potential Amortization Event means an event which, with the passage

Potential Amortization Event is defined in the Series 1999-1 Supplement.

Potential Amortization Event means an event which, with the passage of any applicable cure period or the giving of notice, or both, would constitute an Amortization Event. “Prime Rate” means the rate of interest per annum publicly announced from time to time by the Administrative Agent as its prime rate (which in any event, shall not be less than 0%); each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective. “Principal” of any Loan means, at any time, (A) the amount advanced by the applicable Lender on the applicable Borrowing Date minus (B) the sum of the aggregate amount of Collections and other payments received by such Lender which in each case are applied to reduce such Principal in