Underlying Obligor Default definition

Underlying Obligor Default means, with respect to any Portfolio Asset owned by the Borrower following the Cut-Off Date relating thereto, the occurrence of one or more of the following events (any of which, for the avoidance of doubt, may occur more than once):
Underlying Obligor Default means, with respect to any Portfolio Asset the occurrence of one or more of the following events (any of which, for the avoidance of doubt, may occur more than once):
Underlying Obligor Default means, with respect to any Loan Asset following the Cut‐Off Date relating thereto, the occurrence of one or more of the following events (any of which, for the avoidance of doubt, may occur more than once):

Examples of Underlying Obligor Default in a sentence

  • The Borrower shall give written notice to the Administrative Agent, the Lenders and the Calculation Agent of any Underlying Obligor Default with respect to any Portfolio Asset as promptly as possible after learning thereof.

  • For purposes other than those set forth in this Section 2.05(f), at any time an Underlying Obligor Default has occurred and is continuing, each Borrowing Base that includes a Loan Asset for which the Underlying Obligor Default has occurred shall be reduced by the Excluded Asset Amount for such Loan Asset.

  • If any such Underlying Obligor Default is cured (provided that any such Underlying Obligor Default may only be cured with the consent of the Lenders), this subsection (f) shall no longer apply and all funds on deposit in the Collection Account shall be applied in the order set forth in subsections (b) and (c) of this Section 2.05, including payments due to the Equityholder.

  • At least in the official documentation, projects too often tended to be insufficiently analytical and self-critical (though this was not always the case, as noted in the “positives” above), making it hard to learn lessons and improve approaches.


More Definitions of Underlying Obligor Default

Underlying Obligor Default means, with respect to any Loan Asset the occurrence of one or more of the following events (any of which, for the avoidance of doubt, may occur more than once): 34
Underlying Obligor Default means, with respect to any Eligible Portfolio Asset that is a Loan Asset following the Cut‐Off Date relating thereto, the occurrence of one or more of the following events (any of which, for the avoidance of doubt, may occur more than once): (a) an Obligor payment default has occurred and is continuing under such Loan Asset (after giving effect to any grace or cure period or notice requirement set forth in the applicable Underlying Loan Agreement); (b) any other event of default or similar event or circumstance under the Underlying Loan Agreement for such Portfolio Asset for which the Co‐Borrowers (or agent or required lenders pursuant to the applicable Underlying Loan Agreement, as applicable) has elected to exercise any of its rights and remedies with respect to such Loan Asset (including the acceleration of the loan relating thereto), unless otherwise agreed to in writing by the Majority Lenders; (c) a Bankruptcy Event occurs with respect to any related Obligor under any Underlying Loan Agreement. “United States” means the United States of America. “U.S. Government Securities Business Day” means any day except for (a) a Saturday, (b) a Sunday or (c) a day on which the Securities Industry and Financial Markets Association, or any successor thereto, recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities. “Valuation Policy” means a Loan Party’s valuation policy as in effect on the Closing Date, as the same may be amended, supplemented or as otherwise modified from time to time by such Loan Party with the prior consent of the Majority Lenders. “Write‐Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the write‐down and conversion powers of such EEA Resolution Authority from time to time under the Bail‐In Legislation for the applicable EEA Member Country, which write‐down and conversion powers are described in the EU Bail‐In Legislation Schedule. SECTION 1.02

Related to Underlying Obligor Default

  • Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.

  • Servicer Event of Default wherever used herein, means any one of the following events:

  • Master Servicer Event of Default wherever used herein, means any one of the following events:

  • Issuer Event of Default means the occurrence of any of the following events:

  • Owner Event of Default has the meaning set forth in Section 20.3.

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

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

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • 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 Event of Default means an "Event of Default" as defined in the Indenture.

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

  • Specified Event of Default means any Event of Default pursuant to Section 9.01(a), Section 9.01(f) or Section 9.01(g).

  • Material Default means a material breach of this Framework Agreement and/or, breach by the Supplier of any of the following Clauses: Clause 8 (Warranties and Representations), Clause 9 (Prevention of Bribery and Corruption), Clause 13 (Statutory Requirements and Standards), Clause 14 (Non-Discrimination), Clause 15 (Provision of Management Information), Clause 16 (Management Charge), Clause 17 (Records and Audit Access), Clause 22 (Data Protection), Clause 23 (Freedom of Information) and Clause 31 (Transfer & Sub-contracting);

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • Debenture Event of Default means an "Event of Default" as defined in the Indenture.

  • Potential Issuer Event of Default means any condition, event or act which, with the lapse of time and/or the issue, making or giving of any notice, certification, declaration, demand, determination and/or request and/or the taking of any similar action and/or the fulfilment of any similar condition, would constitute an Issuer Event of Default;

  • Bond Event of Default means the occurrence of any of the following (or such event or condition which with notice or lapse of time or both would constitute any of the following):

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

  • Unmatured Event of Default means any event that, if it continues uncured, will, with lapse of time, notice or lapse of time and notice, constitute an Event of Default.

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

  • Event of Default has the meaning specified in Section 8.01.

  • 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.

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

  • Event of Default Under the Trust Indenture With respect to any MBS, any “Event of Default” under the Trust Indenture pursuant to which such MBS was issued. Xxxxxx Xxx: Federal National Mortgage Association, a body corporate organized and existing under the laws of the United States, or its successor in interest or any successor appointed as herein provided. Unless the context requires otherwise, the term “Xxxxxx Mae” shall be deemed to refer to the Federal National Mortgage Association acting in its corporate capacity and not in its capacity as Trustee hereunder.

  • Senior Event of Default means an Event of Default under the Senior Loan Documents.