Senior Declared Default definition

Senior Declared Default means a Senior Default which has resulted in the Facility Agent exercising any of its rights under clause 21.2 (Cancellation and repayment) of the Senior Credit Agreement;
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Senior Declared Default means a Senior Default which has resulted in the Senior Agent exercising any of its rights under Clause 26.21 (Acceleration) of the Senior Facility Agreement.
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Senior Declared Default means a Senior Event of Default which has resulted in the Senior Agent exercising any of its rights under clause 28.20 (Acceleration) of the Senior Facilities Agreement.
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Examples of Senior Declared Default in a sentence

  • If a Senior Declared Default has occurred, each Hedging Lender will promptly following request by the Facility Agent designate an Early Termination Date or otherwise terminate each Hedging Agreement to which it is a party.

  • Unless a Senior Declared Default has occurred and subject to Clause 15 (Subordination on insolvency), the Obligors may pay, and the Hedging Banks may receive and retain, scheduled payments in respect of Hedging Debt arising under the original terms of the Hedging Documents (subject to any amendments permitted by this Agreement).

  • Prior to the Senior Discharge Date, no Intra-Group Creditor may take Enforcement Action in relation to any Intra-Group Debt without the prior consent of the Facility Agent provided that if a Senior Declared Default has occurred, each Intra-Group Creditor will take any Enforcement Action in relation to the Intra-Group Debt which the Security Agent directs it to take.

  • If, however, a Senior Declared Default (if on or before the Senior Discharge Date) has occurred, each Intra-Group Creditor will take any Enforcement Action in relation to the Intra-Group Debt which the Security Agent directs it to take.

  • Subject to clauses 5.3 (Permitted Enforcement Action in Relation to Hedging Liabilities) and 10 (Enforcement of Security), no Hedging Lender may take Enforcement Action in relation to any Hedging Liabilities unless a Senior Declared Default has occurred.

  • Subject to clauses 4.3 (Permitted Enforcement Action) and 12 (Enforcement of security), no Hedging Lender may take Enforcement Action in relation to any Hedging Liabilities unless a Senior Declared Default has occurred.

  • Subject to clauses 3.3 (Permitted Hedging Enforcement Action) and 8 (Enforcement of Security), no Hedging Lender may take Enforcement Action in relation to any Hedging Debt, unless a Senior Declared Default has occurred.

  • If a Specified Default or a Senior Declared Default occurs, a Hedging Lender may exercise its rights to designate an Early Termination Date in accordance with the relevant Hedging Agreement or otherwise terminate the relevant Hedging Agreement, provided that no other Enforcement Action is taken.

  • Subject to clauses 4.3 (Permitted Enforcement Action) and 8 (Enforcement of security), no Hedging Lender may take Enforcement Action in relation to any Hedging Liabilities unless a Senior Declared Default has occurred.


More Definitions of Senior Declared Default

Senior Declared Default has the meaning ascribed to it in the Original Intercreditor Agreement, as in effect on the Issue Date (applied, however, to any Senior Debt of the Subsidiary Guarantors).
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Senior Declared Default means any Designated Senior Indebtedness has been declared to be prematurely due and payable or payable on demand (and demand has been made) by reason of an event of default under such Designated Senior Indebtedness.
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Senior Declared Default means a Senior Facility Declared Default, an ABL Declared Default, an Interim Facility Declared Default, a Second Lien Notes Declared Default and/or an Unsecured Senior Notes Declared Default.
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Senior Declared Default means a Default which has resulted in the Facility Agent exercising any of its rights under clause 20.2 (Cancellation and Repayment) of the Senior Facility Agreement;
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Related to Senior Declared Default

  • Senior Default means any Senior Payment Default or Senior Covenant Default.

  • Financing Default means an event which would constitute (or with notice or lapse of time or both would constitute) an event of default (which event of default has not been cured) under or would otherwise violate or breach (i) any financing arrangement of the Company or any of its Subsidiaries in effect as of the time of the aforementioned event, and any extensions, renewals, refinancings or refundings thereof in whole or in part; and (ii) any provision of the Company's or any of its Subsidiary's constitutional documents.

  • Specified Default means a Default under Section 8.01(a), (f) or (g).

  • Senior Payment Default means any default in the payment of principal of (or premium, if any) or interest on any Senior Debt of the Company when due, whether at the Stated Maturity of any such payment or by declaration of acceleration, call for redemption or otherwise. In the event that any Senior Nonmonetary Default (as defined below) shall have occurred and be continuing, then, upon the receipt by the Company, the Subsidiary Guarantors and the Trustee of written notice of such Senior Nonmonetary Default from the agent for the Designated Senior Debt which is the subject of such Senior Nonmonetary Default, no Securities Payment shall be made during the period (the “Payment Blockage Period”) commencing on the date of such receipt of such written notice and ending on the earlier of (i) the date on which such Senior Nonmonetary Default shall have been cured or waived or shall have ceased to exist or all Designated Senior Debt the subject of such Senior Nonmonetary Default shall have been discharged; (ii) the 179th day after the date of such receipt of such written notice; or (iii) the date on which the Payment Blockage Period shall have been terminated by written notice to the Company, any Subsidiary Guarantor or the Trustee from the agent for the Designated Senior Debt initiating the Payment Blockage Period; provided, however, that nothing in this Section shall prevent the satisfaction of any sinking fund payment in accordance with Article Sixteen by delivering and crediting pursuant to Section 1602 Securities which have been acquired (upon redemption or otherwise) prior to the date of such receipt of such written notice. No more than one Payment Blockage Period may be commenced with respect to the Securities of a particular series during any 360-day period and there shall be a period of at least 181 consecutive days in each 360-day period when no Payment Blockage Period is in effect. For all purposes of this paragraph, no Senior Nonmonetary Default that existed or was continuing on the date of commencement of any Payment Blockage Period shall be, or be made, the basis for the commencement of a subsequent Payment Blockage Period, whether or not within a period of 360 consecutive days, unless such Senior Nonmonetary Default shall have been cured for a period of not less than 90 consecutive days.

  • Subordination Event means any one of the following events:

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

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Funding Default as defined in Section 2.21.

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Bank Default means (i) the refusal (which has not been retracted) of a Bank to make available its portion of any Borrowing or to fund its portion of any unreimbursed payment under Section 2.03(c) or (ii) a Bank having notified in writing the Borrower and/or the Administrative Agent that it does not intend to comply with its obligations under Section 1.01 or Section 2, in the case of either clause (i) or (ii) as a result of any takeover of such Bank by any regulatory authority or agency.

  • Guarantor Default means any condition or event that with the giving of notice or lapse of time or both would, unless cured or waived, become a Guarantor Event of Default.

  • Senior Event of Default means an Event of Default under a Senior Financing Agreement.

  • Unmatured Default means an event which but for the lapse of time or the giving of notice, or both, would constitute a Default.

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Indenture Default With respect to any Indenture, means any Event of Default (as such term is defined in such Indenture).

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

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.

  • Liquidity Event of Default means the occurrence of either (a) the Acceleration of all of the Equipment Notes or (b) an American Bankruptcy Event.

  • Incipient Default means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default.

  • Servicing Default The meaning assigned in Section 6.01 of the Servicing Agreement.

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).