Triggering Default definition

Triggering Default has the meaning specified in Section 6.01.

Triggering Default means an Event of Default under Sections 10.1(a), (b), (f), (g), (h), (i), (j), (m), or (q).

Triggering Default means (i) a “Default” as such term is defined in the Georgia Agreements (other than a Default that results from the failure of the TW Parties to perform their obligations with respect to an Accelerated Put as described in Section 4.3 hereof), (ii) a “Default” as such term is defined in the Texas Agreements (other than a Default that results from the failure of the TW Parties to perform their obligations with respect to an Accelerated Put as described in Section 4.3 hereof), (iii) an “Event of Default” as such term is defined in the Zero Coupon Note Indenture, other than as a result of TWE’s failure to comply with the provisions of Section 6.2.2 hereof, (iv) a default by any of the Holdco Parties of their covenants, agreements or obligations hereunder (other than an immaterial default that can be cured upon notice), (v) a failure by the Holdco Parties to pay any amounts owed to the TW Parties hereunder or to otherwise reimburse the TW Parties for any amounts paid by either of such parties under the Georgia Guarantees or the Texas Guarantees, (vi) a default by any of the Holdco Parties (or their successors in interest) in the observance or performance of any covenant, agreements or obligations on its part to be performed or observed under that certain Acquisition Company Liquidity Agreement, dated as of December 8, 2006, by and among the Holdco Parties (or their successors in interest), the TW Parties and the Acquisition Companies, (vii) an “Event of Default” as such term is defined in the Acquisition Company Loan, (viii) if Holdco, SFEC, SFTP or any Subsidiary of SFEC that owns or operates a park (each, a “Specified Holdco Party”) becomes subject to a chapter 7 bankruptcy case or any other proceeding providing for its liquidation, dissolution or winding up, or (ix) the appointment of a trustee, examiner, liquidator or the like with respect to any Specified Holdco Party or all or any substantial part of a Specified Holdco Party’s property; provided, however, that (A) for purposes of the definition of “Triggering Default” and notwithstanding any provision to the contrary, a Triggering Default (other than due to a Specified Default), shall be deemed to continue in perpetuity from the date of its occurrence and the Holdco Parties shall not have the right to cure such Triggering Default unless such Triggering Default is cured within the shorter of (x) 90 days of the occurrence of such Triggering Default or (y) 45 days from date on which the TW Parties exercise t...

Examples of Triggering Default in a sentence

• Upon the occurrence of a Triggering Default, Landlord is hereby irrevocably authorized, as Tenant's agent and attorney-in-fact, to direct any Transferee to make all payments under or in connection with the Transfer directly to Landlord (which Landlord shall apply towards Tenant's obligations under this Lease) until such default is cured.

• Upon the proper exercise of such option to extend, and, at Landlord's option, provided that, as of the end of the then Lease Term, a Triggering Default does not exist, the Lease Term, as it applies to the Premises, shall be extended for a period of five (5) years.

• While a Triggering Default exists or during such time that Lender is exercising remedies pursuant to S ection 10.2. (a) hereof, (i) Agent may, at its option, apply sums in the Lockbox Account to pay directly to the ultimate payee thereof some or all of the payments described in S ection 8.21.

• Without limiting the obligations of the Holdco Parties hereunder, following and during the continuation of a Triggering Default, the TW Parties and TW-SPV Co. may take all action necessary to permit the Acquisition Companies to purchase Units pursuant to the terms of the Georgia Agreements and the Texas Agreements.

• Landlord hereby grants the Original Tenant or a Permitted Assignee two (2) options to extend the Lease Term for a period of five (5) years each (each, an "OPTION TERM"), which options shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of the applicable notice, a Triggering Default does not exist.

More Definitions of Triggering Default

Triggering Default means the intentional and systematic breach by a holder of Class B Common Stock or any of its Affiliates (a "BREACHING PARTY") of any obligation under (i)

Triggering Default means any Event of Default as to which the Agent has given the Borrowing Agent written notice of such Event of Default; provided, however, an Event of Default pursuant to Section 12(g) shall be considered a Triggering Default without the requirement that written notice thereof be provided to the Borrowing Agent.

Triggering Default means the intentional and systematic breach by a holder of Class B Common Stock or any of its Affiliates (a "BREACHING PARTY") of any obligation under Sections 2.1(a) or 2.1(b) of the Charter Associate Agreement, if such breach is not cured within forty-five (45) days following written notice by the Board of Directors to such holder at its address specified in the Corporation's stock ledger, identifying such breach, and following such 45th day (but in no event more than thirty (30) days after such 45th day), the Board of Directors determines that such breach has not been cured. For purposes of this definition, "cured" shall mean the discontinuation by the breaching party of the actions or practice resulting in the noticed breach of its obligations under Sections 2.1(a) and 2.1(b) of the Charter Associate Agreement within forty-five (45) days of notice thereof, and shall not require remedy of the historic breach.

Triggering Default has the meaning set forth in the Subordinated Indemnity Agreement.

Triggering Default means (i) a "Default" as such term is defined in the Georgia Agreements (other than a Default that results from the failure of the TW Parties to perform their obligations with respect to an Accelerated Put as described in Section 4.3 hereof), (ii) a "Default" as such term is defined in the

Triggering Default means the occurrence or existence of any event of default in respect of the Junior Debt under the Junior Creditor Agreements, which remains uncured and unwaived or otherwise continues beyond the expiration of the Standstill Period hereunder with respect to such event of default.

Triggering Default has the meaning set forth in Section 9 hereof.