Prospective Defaults definition

Prospective Defaults means (i) any Defaults or Event of Default arising from the failure to satisfy those payment obligations separately disclosed to Agent prior to the Forbearance Closing or that are otherwise disclosed in connection with an updated Approved Projection accepted by Agent, and (ii) any other Default or Event of Default which Agent has deemed to be a “Prospective Default” in writing.
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Prospective Defaults means those certain Event of Default that the Loan Parties have advised will occur and be continuing in the future, as expressly described on Schedule I attached hereto.
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Prospective Defaults means Events of Defaults, if any, directly resulting from (a) the Borrower's failure to make any payments due on the Notes after the Effective Date (as defined in
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Examples of Prospective Defaults in a sentence

  • With effect from the Consent Date, the Agent and each Lender party hereto previously waived the Prospective Defaults on the terms and subject to the conditions set forth in this Section 2.

  • The Specified Waivers and Consents shall apply only for the Subject Test Period and the Prospective Defaults and shall not apply for any other Test Periods, any other actual or prospective Defaults, Events of Default or violation of any other provision of the Credit Agreement or any other Loan Document.

  • No Default (other than the Prospective Defaults), Event of Default (other than the Prospective Defaults) or Borrowing Base Deficiency shall exist immediately prior to or after giving effect to this Agreement.

  • The Holder hereby waives the Prospective Defaults and any and all restrictions and remedies set forth in any Existing Note Document that would otherwise prohibit the Transaction or any other transactions contemplated by the Exchange Documents (as defined herein), solely as necessary to permit the transactions contemplated in the Exchange Documents (as defined herein) and not with respect to any other matter.

  • The Specified Waivers and Consents shall apply only for the Subject Test Period and the Prospective Defaults and shall not apply for any other Test Periods, any other actual or prospective Defaults, Events of Default or violation of any other provision of the NPA or any other Note Document.

  • With effect from the Consent Date, the Agent and each Holder previously waived the Prospective Defaults on the terms and subject to the conditions set forth in this Section 2.

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  • The Lenders and Agent agree that all of the Prospective Defaults (as such term is defined in the Forbearance Agreement) existing immediately prior to the Closing Date under the Original Credit Agreement are permanently waived effective as of the Closing Date.

  • On 2 June 2000, the RF Ministry of Justice regis- tered a new decree from the RF Ministry of Tax and Duties — Decree #AP-3-06/124 «On Confirmation of the Tax Authorities’ Statute on the Features of Fiscal Accounting for Foreign Organizations» (7/4/2000).

  • Subject to satisfaction of the conditions set forth in Section 6 below, the Administrative Agent and the Lenders hereby waive the Existing Defaults and the Prospective Defaults.


More Definitions of Prospective Defaults

Prospective Defaults means Events of Defaults, if any, directly resulting from (a) the Borrower's failure to make any payments due on the Notes after the Effective Date (as defined in Section 15 of this Agreement), or (b) the filing of mechanic's liens against the Borrower or its assets, so long as (i) such mechanic's liens do not challenge the validity or priority of any Liens in favor of the Lender, and (ii) the Borrower provides the Lender with notice of all such mechanic's liens promptly after the filing thereof.
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Prospective Defaults means Events of Default, if any, directly resulting from (a) the Borrower's failure to make any payments due on the Notes after the Effective Date (as defined in Section 15 of this Agreement), (b) the Borrower's failure to deliver its monthly financial statements within 30 days after the end of each calendar month, so long as such financial statements are delivered within 45 days after the end of each calendar month, or (c) the filing of mechanic's liens against the Borrower or its assets, so long as (i) such mechanic's liens do not challenge the validity or priority of any Liens in favor of the Lender, and (ii) the Borrower provides the Lender with notice of all such mechanic's liens promptly after the filing thereof.
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Related to Prospective Defaults

  • Customer Default has the meaning set out in clause 8.3.

  • Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p) of this Note.

  • 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.

  • Specified Event of Default means an Event of Default under Section 7.01(a), (b), (h) or (i).

  • 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.

  • Specified Defaults means, collectively, the Existing Defaults and the Anticipated Defaults.