Third Party Failure Event definition

Third Party Failure Event means any of the following events, if such event would reasonably be expected to cause or result in a Material Reduction in Value of the Collateral: (a) any default by the Borrower under any Loan Document; (b) the occurrence of an event which excuses or could excuse performance under any Loan Document; (c) the occurrence of any event of the type described in Section 11.01(h), (i), or (j) with respect to any operator of the Collateral; (d) any representation or warranty made by the Borrower in any document entered into in connection with this Agreement or in any certificate delivered pursuant to any document entered into in connection with this Agreement is incorrect in any material respect when made or deemed made; or (e) the occurrence of any event or circumstance that would reasonably be expected to change the value or nature of the Collateral.
View Source
Third Party Failure Event means any of the following events, if such event could reasonably be expected to cause or result in a Material Reduction in Value of the Collateral:
View Source

Examples of Third Party Failure Event in a sentence

  • The Borrower shall provide notice to Lenders upon the occurrence of each Environmental Event, Loss Event, Tax Event, Third Party Failure Event or Title Event as such terms are defined below.

  • Borrower shall provide notice to Lenders upon the occurrence of each Environmental Event, Loss Event, Tax Event, Third Party Failure Event or Title Event as such terms are defined below.

Related to Third Party Failure Event

  • Listing Failure Event means that:

  • MI Failure means when an MI report: a) contains any material errors or material omissions or a missing mandatory field; or b) is submitted using an incorrect MI reporting Template; or c) is not submitted by the reporting date(including where a Nil Return should have been filed);

  • Supply Failure shall have the meaning ascribed to it in Section 2.8.

  • GEP Failure means Seller’s failure to produce Delivered Energy in an amount equal to or greater than the Guaranteed Energy Production amount for the applicable Performance Measurement Period.

  • Milestone Failure means a failure by the Grant Recipient fully to achieve any Milestone by the relevant Milestone Date;