Potential Default Event definition

Potential Default Event means any event which, with the giving of notice or the lapse of time or both, would constitute a Default Event.
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Potential Default Event means any event or circumstance which (with the giving of notice to the Licensee and/or the passage of time) will, or is reasonably likely to become a Default Event listed in paragraphs 2 to 11 of Schedule 4;
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Potential Default Event means any event, condition or circumstance which, with the giving of notice or the passage of time or both, would become a Default Event.
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Examples of Potential Default Event in a sentence

  • Each of the Borrower and the Facility Administrator represents and warrants that (i) immediately prior to this Amendment, no Potential Default, Event of Default, Potential Amortization Event or Amortization Event has occurred and is continuing and (ii) no Potential Default, Event of Default, Potential Amortization Event or Amortization Event will occur as a result of the execution of this Amendment.

  • While a Potential Default, Event of Default or Material Adverse Change exists, Lender may refuse to make any additional advances to Borrower.

  • No Protective Advance by Agent shall be construed as a waiver by Agent, or any Lender of any Potential Default, Event of Default or any of the rights or remedies of Agent or any Lender.

  • Each of the Borrower and the Facility Administrator further represents and warrants that (i) immediately prior to this Amendment, no Potential Default, Event of Default, Potential Amortization Event or Amortization Event has occurred and is continuing and (ii) no Potential Default, Event of Default, Potential Amortization Event or Amortization Event will occur as a result of the execution of this Amendment.

  • Such notice (i) with respect to (a) or (b), shall specify the nature and period of existence of any such Potential Default, Event of Default or other default and what the Company proposes to do with respect thereto and (ii) with respect to (c), (d) or (e), shall specify the nature of any such matter referred to in such clause, what action the Company or any Subsidiary proposes to take with respect thereto and what action any other relevant Person is taking or proposes to take with respect thereto.

  • As soon as possible and in any event within 5 Business Days after the Borrower has knowledge of the occurrence of any Potential Default (however described) or Event of Default hereunder or an event of default (however described) under any other of the Loan Documents, written notice and a description of such Potential Default, Event of Default or event of default and the action which the Borrower proposes to take with respect thereto.

  • The Lessee may, so long as no Potential Default, Event of Default, Event of Loss, Taking or Termination Event has occurred and is continuing, remove any Removable Improvement in its entirety.

  • If DOE receives any notice from FFB pursuant to the applicable FFB Promissory Note requiring DOE to approve each Maturity Extension Election Notice (as defined therein) delivered by the Borrower after the date of such notice, then DOE shall approve each such Maturity Extension Election Notice so long as no Potential Default, Event of Default, Potential Alternate Amortization Event or Alternate Amortization Event is continuing.

  • The Lessee may, so long as no Potential Default, Event of Default, Termination Event, Event of Loss or Taking has occurred and is continuing, remove any Removable Improvement in its entirety.

  • If the amount credited to the Over/Under Account creates a balance in excess of the Minimum Over/Under Account Balance required pursuant to Section 3.5(a) above, provided that no Potential Default, Event of Early Termination or Event of Default has occurred and is continuing, Seller may submit a written request to Buyer for return or payment of such excess funds.