Secured Debt Default definition

Secured Debt Default means any event or condition which, under the terms of any credit agreement, indenture or other agreement governing any Series of Secured Debt causes, or permits holders of Secured Debt outstanding thereunder (with or without the giving of notice or lapse of time, or both, and whether or not notice has been given or time has lapsed) to cause, the Secured Debt outstanding thereunder to become immediately due and payable.

Secured Debt Default means, with respect to any Series of Secured Debt, any event or condition which, under the terms of any credit agreement, indenture, loan agreement, note agreement, promissory note, Hedge Agreement or other agreement or instrument evidencing or governing such Series of Secured Debt, causes, or permits holders of Secured Debt outstanding thereunder to cause, the Secured Debt outstanding thereunder to become immediately due and payable. For the avoidance of doubt, an “Event of Default” (or any other defined term having a similar purpose) (as defined in the Credit Agreement) shall constitute a Secured Debt Default with respect to the Series of Secured Debt evidenced by the Credit Agreement.

Secured Debt Default means any event of default (or equivalent thereof) under the terms of any credit agreement, indenture or other agreement governing any Series of Secured Lien Debt, which causes, or permits holders of Secured Debt outstanding thereunder to cause, the Secured Debt outstanding thereunder to become immediately due and payable.

Examples of Secured Debt Default in a sentence

• The Collateral Trustee will not be required to inquire as to the occurrence or absence of any Secured Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt Default unless and until it is directed by an Act of Required Debtholders.

• The Collateral Trustee will not be required to inquire as to the occurrence or absence of any Secured Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt Default unless and until it is directed by an Act of Required Secured Parties.

• The Collateral Agent will not be required to inquire as to the occurrence or absence of any Secured Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt Default unless and until it is directed by an Act of Required Secured Parties.

• Unless it has been directed to the contrary by an Act of Required Secured Parties, the Collateral Trustee in any event may (but will not be obligated to) take or refrain from taking such action with respect to any Secured Debt Default as it may deem advisable and in the interest of the Secured Parties.

• If the Collateral Trustee at any time receives written notice that any Secured Debt Default has occurred under any Secured Debt Document that entitles the Collateral Trustee to foreclose upon, collect or otherwise enforce its Liens under the Security Documents, the Collateral Trustee will promptly deliver written notice thereof to each Secured Debt Representative.

More Definitions of Secured Debt Default

Secured Debt Default means the occurrence and continuance of any matured “Event of Default” or similar term as defined in any of (i) the Credit Agreement, (ii) the Indenture or (iii) any other Secured Debt Document, or any other event or condition that, under the terms of any credit agreement, indenture or other agreement governing any Series of Secured Debt causes, or permits holders of Secured Debt or Dutch Parallel Debt Obligations outstanding thereunder to cause, the Secured Debt or Dutch Parallel Debt Obligations outstanding thereunder to become immediately due and payable, in each case, after all applicable grace periods have expired.

Secured Debt Default has the meaning as set forth in the Collateral Trust Agreement.

Secured Debt Default means a Parity Lien Default or a Priority Lien Default.

Secured Debt Default means, with respect to any Series of Secured Debt, any event or condition which, under the terms of any credit agreement, indenture, loan agreement, note agreement, promissory note, hedge agreement or other agreement or instrument governing such Series of Secured Debt, causes, or permits holders of Secured Debt outstanding thereunder to cause, the Secured Debt outstanding thereunder to become immediately due and payable or, in the case of a Pari Passu Lien Hedge Agreement, causes, or permits the Secured Party thereunder to cause, such hedging agreement (and the transactions thereunder) to terminate and a termination amount to be determined and become due and payable as a result of such termination.

Secured Debt Default means, with respect to any Series of Credit Agreement Debt, any event or condition which, under the terms of any Credit Agreement Document, causes, or permits holders of Pari Passu Guaranteed Obligations outstanding thereunder to cause, the Pari Passu Guaranteed Obligations outstanding thereunder to become immediately (after giving effect to the requisite notices and expiration of all applicable grace periods) due and payable. For the avoidance of doubt, an “Event of Default” (or any other defined term having a similar purpose) (as defined in any Credit Agreement) shall, in each case, constitute a Secured Debt Default with respect to the Series of Credit Agreement Debt evidenced by each other Credit Agreement.

Secured Debt Default means a Credit Facility Default, Senior Secured Notes Default or a Pari Passu Debt Default.

Secured Debt Default means, with respect to any Series of Pari Passu Debt, any event or condition which, under the terms of any credit agreement, indenture, loan agreement, note agreement, promissory note, or other agreement or instrument evidencing or governing such Series of Pari Passu Debt (other than any Hedge Agreement), causes, or permits holders of Pari Passu Debt outstanding thereunder to cause, the Pari Passu Debt outstanding thereunder to become immediately (after giving effect to the requisite notices and expiration of all applicable grace periods) due and payable. For the avoidance of doubt, an “Event of Default” (or any other defined term having a similar purpose) (as defined in any Pari Passu Debt Document) shall, in each case, constitute a Secured Debt Default with respect to the Series of Pari Passu Debt evidenced by each other Pari Passu Debt Document.