Potential Significant Event definition

Potential Significant Event means any event or circumstance relating to one of the events referred to in Attachment 8 (Significant Events), Part A (Significant Events in favour of the Assignee), points 1 (Non-payment), 2 (Non-fulfilment of obligations) or 3 (False declarations) which, upon expiration of the relevant grace period, may trigger a Significant Event.
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Potential Significant Event means any event or condition which with the giving of notice or passage of time, or both, would constitute a Significant Event or Series Significant Event.
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Examples of Potential Significant Event in a sentence

  • If on any Distribution Date prior to the Commitment Termination Date, the balances in the Letter of Credit Collateral Accounts exceed the amount required by this Agreement, unless a Significant Event or Potential Significant Event shall exist and be continuing, the LC Issuers shall release the excess cash collateral to Borrower.

  • On the Closing Date and after giving effect to the purchase of Class A Certificates contemplated herein, no Significant Event, Potential Significant Event or Series Significant Event (or any event or condition which with the giving of notice or passage of time, or both, would constitute a Series Significant Event) with respect to any Series shall have occurred and be continuing at Closing or would result from the transactions contemplated under the Operative Documents.