Definition of Term Loan Event of Default


Term Loan Event of Default means an "Event of Default" as defined in the Term Loan Agreement.

Examples of Term Loan Event of Default in a sentence

Term Loan Default means any event or circumstance which, with the giving of notice, the lapse of time, or both, would (if not cured or otherwise remedied during such time) constitute a Term Loan Event of Default.
A delay or omission by the Administrative Agent or the Term Lender in exercising any right or remedy accruing upon a Term Loan Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Term Loan Event of Default.
The Company's Board of Directors may at any time designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided that such designation shall be deemed to be an incurrence of Debt by a Restricted Subsidiary of any outstanding Debt of such Unrestricted Subsidiary and such designation shall be permitted only if (a) such Debt is permitted under Section 11.5, and (b) no Term Loan Default or Term Loan Event of Default would be in existence following such designation.
In addition, the Company may, at its option and at any time, elect to have its obligations and those of Term Loan Subsidiary Guarantor released under the covenants contained in Sections 2.9, 11.2, 11.3, 11.4, 11.5, 11.6, 11.7, 11.8, 11.9, 11.10, 11.11, 11.12, 11.13, 11.14 and 11.16 ("Covenant Defeasance") and thereafter any omission to comply with such obligations shall not constitute a Term Loan Default or Term Loan Event of Default.
Notwithstanding the foregoing, in the case of a Term Loan Event of Default as described in (h) and (i) of Section 13hereof, the Term Loan will become due and payable without further action or notice.