Examples of Potential Loan Event of Default in a sentence
Each Obligor expressly acknowledges that no failure or delay by a Borrower Secured Creditor in exercising any of its rights in relation to a Trigger Event, Potential Loan Event of Default, Loan Event of Default or other default as a result of the provisions of this Deed shall operate as a waiver or variation of its rights with respect thereto.
Promptly upon becoming aware of any Potential Amortization Event, Amortization Event, Potential Loan Event of Default, Loan Event of Default, Servicer Termination Event, Event of Default or Default under any of the Transaction Documents, the Issuer shall give the Indenture Trustee and the Rating Agencies written notice thereof, together with an Officer’s Certificate, setting forth the details thereof and any action with respect thereto taken or contemplated to be taken by the Issuer.
The Borrower Security Trustee will not itself monitor whether any such event has occurred but will (unless expressly informed to the contrary by a Borrower) rely on the investor reports and compliance certificates to determine whether a Loan Event of Default or Potential Loan Event of Default has occurred.
No Loan Event of Default or Potential Loan Event of Default exists or has occurred which has not been remedied or waived or otherwise ceased to be continuing.
If on any day a Potential Loan Event of Default, a Loan Event of Default, a Loan Payment Suspension Event, a Special Event or a Note Event of Default has occurred and is continuing (if the Springing Assignments have been imple- mented), this shall constitute a ‘‘Holding Event.’’ Collection Account Gazprom, Gazexport, the Issuer and the Trustee will, pursu- ant to the FAAFAs, instruct the Fiduciary to open a U.S. dollar-denominated Collection Account in the name of the Fiduciary with the Accounts Bank.
The Shareholders will also agree that the appointment of the General Manager may be terminated by the Issuer (with the consent of the Issuer Security Trustee) pursuant to the General Management Agreement upon the occurrence of a Loan Event of Default or a Potential Loan Event of Default and that the Issuer (with the consent of the Issuer Security Trustee) may appoint a new general manager in respect of the Borrower.
The ability of the Issuer and Issuer Security Trustee to take control of the Borrower upon a Loan Event of Default or Potential Loan Event of Default means that the Issuer and Issuer Security Trustee will have the ability to exercise control over the Borrower and to provide for the Borrower to enter into such documents and undertake such obligations as the Issuer and the Issuer Security Trustee require.
Promptly upon becoming aware of any Potential Amortization Event, Potential Loan Event of Default, Loan Event of Default or Amortization Event, NFC shall give the Liquidity Agent, the Dealers and each Rating Agency notice thereof, together with a certificate of the President, vice President or the principal financial officer of NFC setting forth the details thereof and any action with respect thereto taken or contemplated to be taken by NFC.
The General Management Agreement will provide that upon the occurrence of a Loan Event of Default or a Potential Loan Event of Default the Issuer (with the consent of the Issuer Security Trustee) will have the ability to terminate the appointment of general manager in respect of the Borrower (the General Manager) and appoint a new general manager in respect of the Borrower and to terminate the appointment of the directors of the Borrower and appoint new directors.
Pursuant to the General Management Agreement, the Issuer and the Issuer Security Trustee will have the ability, upon the occurrence of a Loan Event of Default or Potential Loan Event of Default to terminate the appointment of the directors and the general manager of the Borrower and to appoint such directors and general manager as the Issuer and Issuer Security Trustee directs or sees fit.