Examples of Trust Agreement Event of Default in a sentence
The Servicer shall also prepare and deliver Sales and Valuation Reports as the Collateral Agent may direct after the occurrence of a Trust Agreement Event of Default.
When the Collateral Agent incurs expenses after the occurrence of a Trust Agreement Event of Default specified in Section 5.01(vi), the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.
If a Trust Agreement Event of Default occurs and is continuing and if it is known to a Responsible Officer of the Collateral Agent, the Collateral Agent shall mail to each Secured Party notice of such Trust Agreement Event of Default within 5 Business Days after it occurs.
In the case of any waiver of a Trust Agreement Event of Default, the Issuer, the Collateral Agent and the Secured Parties shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other Trust Agreement Event of Default or impair any right consequent thereto.
NOTE 9 - SUBSEQUENT EVENT In February 2000, NFP sold the Company to Baltic effective January 1, 2000 for $400,000 in cash, a total of 500,000 common shares of Baltic, a note payable to NFP for an additional $400,000 and an earnout agreement.
Upon the occurrence of a Trust Agreement Event of Default, if a Noteholder requests issuance of a Definitive Note in its name or in the name of a nominee, then the Collateral Agent shall issue a Definitive Note or Notes pursuant to such instructions and shall notify the Note Registrar and all Noteholders of the occurrence of any such event and of the availability of Definitive Notes to Noteholders requesting the same.
Each Seller acknowledges that the Purchaser shall assign all of its rights hereunder to the Collateral Agent and acknowledges that pursuant to the Trust Agreement, the Collateral Agent shall have certain rights to transfer certain of its rights upon a Trust Agreement Event of Default to the holders of the related Notes (each, a "Subsequent Party").
To the extent that any notice from LTV Steel or any of its Affiliates is required in connection with any Trust Agreement Event of Default, Purchase Termination Event or Servicer Termination Event, LTV Steel agrees to provide such notice within one Business Day after receiving any written direction or request from the Required Financing Parties that such notice be provided.
If a Trust Agreement Event of Default has occurred and is continuing, (i) Auctions will be discontinued, (ii) regardless of any notice by the Administrative Trustees on behalf of the Securities Trust to the contrary, each subsequent Distribution Period commencing after such Trust Agreement Event of Default but before Auctions are resumed will be a 28-day Short-Term Distribution Period, and (iii) the Distribution Rate for each such 28-day Short-Term Distribution Period will be equal to the Default Rate.
Except in the event of (i) the failure to hold an Auction for any reason (other than because a Trust Agreement Event of Default exists) on the Auction Date scheduled to occur at the end of the preceding Distribution Period or (ii) the occurrence of a Trust Agreement Event of Default, the Distribution Rate for each subsequent Distribution Period will be the Applicable Rate.