Definition of Potential Default

  1. Potential Default means the occurrence of any event or condition which, with the giving of notice, the passage of time, or both, would constitute an Event of Default.

Examples of Potential Default in a sentence

  1. No Event of Default or Potential Default exists or is continuing.
  2. N o Potential Default or Event of Default exists under the Credit Agreement as of the date hereof and no Potential Default or Event of Default will occur as a result of the effectiveness of this Amendment.

Definition of Potential Default in Loan Agreement

Potential Default means any condition, event, act or omission which, with the giving of notice or passage of time or both, would constitute an Event of Default as described in Article VI below.


Definition of Potential Default in Letter of Credit

Potential Default means the occurrence of any event or condition which, with the giving of notice, the passage of time, or both, would constitute an Event of Default.


Definition of Potential Default in Agreement

Potential Default means an event or condition which, but for the lapse of time or the giving of notice, or both, would constitute an Event of Default.