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.
Potential Default means any event or condition which with notice or passage of time, or any combination of the foregoing, would constitute an Event of Default.
Potential Default means the occurrence of an event which, under this Borrower Loan Agreement or any other Borrower Loan Document, would, but for the giving of notice or passage of time, or both, be an Event of Default.
Examples of Potential Default in a sentence
The Facility Agent shall be entitled to assume that no Default or Potential Default has occurred unless it receives notice to the contrary from the Company or any Bank describing the Default or Potential Default and stating that such notice is a Default Notice or unless it is aware of a payment default under this Agreement, in which case it shall promptly notify each Bank.
More Definitions of Potential Default
Potential Default means the occurrence of any event which, with the passage of time or the giving of notice or both would become an Event of Default. In addition, upon the occurrence and during the continuance of any Event of Default, CoBank may, upon notice to the Company, terminate any commitment and declare the entire unpaid principal balance of the loans, all accrued interest thereon, and all other amounts payable under this agreement, all Supplements, and the other Loan Documents to be immediately due and payable. Upon such a declaration, the unpaid principal balance of the loans and all such other amounts shall become immediately due and payable, without protest, presentment, demand, or further notice of any kind, all of which are hereby expressly waived by the Company. In addition, upon such an acceleration:
Potential Default means any event or condition which with notice, passage of time or a determination by the Agent or the Majority Banks, or any combination of the foregoing, would constitute an Event of Default.
Potential Default means an event of default which but for the lapse of time or the giving of notice, or both, would constitute a Default.
Potential Default means any event or condition referenced in Article VII hereof which with notice, passage of time or both would constitute an Event of Default.
Potential Default means an event that would constitute an Event of Default but for any requirement of notice to be given or period of grace or time to elapse.
Potential Default means any event or condition which, with the lapse of time, or giving of notice, or both, would constitute an Event of Default.
Potential Default means an event that with the lapse of time (including any applicable grace period) or the giving of notice, or both, would become an Event of Default.