Second Default Notice definition

Second Default Notice has the meaning set out in Section 7.2(a); "Secured Debt Documents" means, collectively, the following:
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Second Default Notice means a notice issued under Condition Error! Reference source not found.2.6.
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Second Default Notice has the meaning set forth in Section 25.1(e).
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Examples of Second Default Notice in a sentence

  • If after such notice is delivered, the Issuer fails to cure such default within the applicable grace or cure period provided with respect to such required payment, if any, the Chief Financial Officer of the Issuer will deliver, or cause to be delivered to the Purchaser, within 5 Business Days of the date that such grace or cure period expires, notice that the Issuer has failed to cure such default within the applicable grace or cure period ("Second Default Notice").

  • If Landlord fails to commence to complete such obligation within five (5) days after receipt of the Second Default Notice and thereafter diligently pursues the completion of such obligation, Tenant may complete such obligation.

  • The Second Default Notice shall contain substantially the following statement in bold and CAPITAL letters: “THIS IS A SECOND NOTICE UNDER SECTION 25.02(a) OF THE SUBLEASE THAT TENANT IS IN DEFAULT FOR FAILURE TO PAY BASE RENT, RECURRING ADDITIONAL RENT OR ADDITIONAL RENT UNDER THE SUBLEASE.

  • If Lessee does not cure the default within thirty (30) days (or if such default cannot reasonably be cured within the second thirty (30) day period, if Lessee shall not within the second thirty (30) day period commence to cure such default and thereafter diligently pursue the same to completion) after Lessee’s receipt of the Second Default Notice, and such default results in a material adverse effect on the use, operation and value of the Property, then a “Final Default” shall have occurred.

  • A Second Default Notice may be provided at any time that is not earlier than the date a Default Notice is given hereunder in respect of such Payment Default.

  • If Tenant does not cure the default within thirty (30) days (or if such default cannot reasonably be cured within the second thirty (30) day period, if Tenant shall not within the second thirty (30) day period commence to cure such default and thereafter diligently pursue the same to completion within one hundred and eighty (180) days) after Tenant’s receipt of the Second Default Notice, and such default results in a Material Adverse Effect, then a “Final Default” shall have occurred.


More Definitions of Second Default Notice

Second Default Notice has the meaning set forth in Section X.B.ii.
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Related to Second Default Notice

  • Default Notice means the written notice of Default of the Agreement issued by one Party to the other.

  • Preliminary Default Notice shall have the meaning ascribed thereto in Article 13 of this Agreement;

  • Monetary Default Notice shall have the meaning assigned to such term in Section 11(a).

  • Non-Monetary Default Notice shall have the meaning assigned to such term in Section 11(d).

  • Forbearance Default means: (A) the failure of the Company to provide the Noteholder Group and its financial advisors with reasonable access, as determined by the Noteholder Group in its reasonable discretion, to its Chief Executive Officer, other senior executives and outside advisors, including representatives of ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ that are working with the Company, and to provide the Noteholder Group and its legal and financial advisors with any and all due diligence information they may reasonably request, including, without limitation, the Company’s current 13-week cash flow schedule, and all updates thereto as soon as reasonably practicable after they are prepared, but in no event no later than two (2) business days thereafter; (B) the failure of the Company to engage in good faith negotiations with the Noteholder Group regarding a potential restructuring transaction, which determination shall be made by the Noteholder Group in its reasonable discretion; (C) the failure of the Company to promptly notify the Noteholder Group of the occurrence of a Forbearance Default (as defined in the DDJ Third Amended Forbearance Agreement) under the DDJ Third Amended Forbearance Agreement or any amendment or modification to the DDJ Third Amended Forbearance Agreement; (D) termination of the DDJ Third Amended Forbearance Agreement; (E) the execution of any amendment or modification to the DDJ Third Amended Forbearance Agreement, which amendment or modification has a material adverse effect on the Noteholder Group as determined by the Noteholder Group in its reasonable discretion; (F) termination by the Company of the ▇▇▇▇▇▇ Engagement Letter or the failure of the Company to pay ▇▇▇▇▇▇’▇ fees, expenses and indemnity in accordance with the terms of the ▇▇▇▇▇▇ Engagement Letter; (G) the occurrence of any Event of Default that is not a Specified Existing Default; (H) the failure of the Company to comply with any term, condition, covenant or agreement set forth in this Third Amended Forbearance Agreement; (I) the failure of any representation or warranty made by the Company under this Third Amended Forbearance Agreement to be true and correct in all material respects as of the date when made; (J) the commencement by or against the Company or any of the Subsidiaries of a case under title 11 of the United States Code; or (K) the commencement of any action or proceeding by any creditor of the Company or any of the Subsidiaries seeking to attach or take similar action against the assets of the Company or the Subsidiaries. Any Forbearance Default shall constitute an immediate Event of Default under the Indenture.