Potential Facility Termination Event definition

Potential Facility Termination Event means an event that but for notice or lapse of time or both would constitute a Facility Termination Event or a Seller Termination Event.
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Potential Facility Termination Event means an event which, with the passage of any applicable cure period or the giving of notice, or both, would constitute a Facility Termination Event.
Sample 1Sample 2Sample 3
Potential Facility Termination Event means an event that but for notice or lapse of time or both would constitute a Facility Termination Event.
Sample 1

Examples of Potential Facility Termination Event in a sentence

  • No event has occurred and is continuing and no condition exists which constitutes an Event of Default or Facility Termination Event or, to the knowledge of the Borrower, a Potential Event of Default or Potential Facility Termination Event.

  • Borrower will not make any Restricted Junior Payment: (i) after the Amortization Date, or (ii) after the occurrence and during the continuance of a Potential Facility Termination Event or Facility Termination Event, in each of the foregoing cases, of the type described in Section 7.1(a), and written direction by the Administrative Agent to Borrower blocking any additional Restricted Payments while such Facility Termination Event or Potential Facility Termination Event is continuing.

  • The Administrative Agent is authorized to deliver to the Lock-Box Banks the Collection Notices with respect to the Collection Accounts upon the occurrence and during the continuance of an Amortization Event or Potential Facility Termination Event under Section 7.1(a).

  • Prior to October 15th of each calendar year, the Borrower shall complete a Due Diligence Review with respect to all Accounts owned by the Borrower and such other matters as any Managing Agent or the Agent reasonably requests; provided, however, so long as no Event of Default, Potential Event of Default, Facility Termination Event or Potential Facility Termination Event has occurred, the Borrower shall only be required to complete one Due Diligence Review at its expense in any calendar year.

  • Prior to February 4th of each calendar year, the Borrower shall complete, at its expense, a Due Diligence Review with respect to all Accounts owned by the Borrower and such other matters as the Agent reasonably requests; provided, however, so long as no Event of Default, Potential Event of Default, Facility Termination Event or Potential Facility Termination Event has occurred, the Borrower shall only be required to complete one Due Diligence Review at its expense in any calendar year.

  • Except as has been waived or otherwise cured, (i) no Facility Termination Event has occurred and is continuing and (ii) to the Actual Knowledge of the Seller, no Potential Facility Termination Event has occurred and is continuing.

  • The Borrower will not make any Restricted Junior Payment: (i) a er the Amor za on Date, or (ii) a er the occurrence and during the con nuance of a Poten al Facility Termina on Event or Facility Termina on Event, in each of the foregoing cases, of the type described in Section 7.1(a), and wri en direc on by the Lender to the Borrower blocking any addi onal Restricted Payments while such Facility Termination Event or Potential Facility Termination Event is continuing.

  • The Borrower will not make any Restricted Junior Payment: (i) after the Amortization Date, or (ii) after the occurrence and during the continuance of a Potential Facility Termination Event or Facility Termination Event, in each of the foregoing cases, of the type described in Section 7.1(a), and written direction by the Lender to the Borrower blocking any additional Restricted Payments while such Facility Termination Event or Potential Facility Termination Event is continuing.

  • The Lender is authorized to deliver to the Lock-Box Banks the Collection Notices with respect to the Collection Accounts upon the occurrence and during the continuance of an Amortization Event or Potential Facility Termination Event under Section 7.1(a).

  • Potential Event of Default, Facility Termination Event or Potential Facility Termination Event.


More Definitions of Potential Facility Termination Event

Potential Facility Termination Event means an event or circumstance which would (with the expiry of a grace period, the giving of notice, the making of any determination under the Transaction Documents or any combination of the foregoing) be a Facility Termination Event.
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Related to Potential Facility Termination Event

  • Facility Termination Date means the date as of which all of the following shall have occurred: (a) the Aggregate Commitments have terminated, (b) all Obligations have been paid in full (other than contingent indemnification obligations), and (c) all Letters of Credit have terminated or expired (other than Letters of Credit as to which other arrangements with respect thereto satisfactory to the Administrative Agent and the L/C Issuer shall have been made).

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

  • Termination Event means an Illegality, a Tax Event or a Tax Event Upon Merger or, if specified to be applicable, a Credit Event Upon Merger or an Additional Termination Event.