Unwaived Event of Default definition
Examples of Unwaived Event of Default in a sentence
Once per Fiscal Year, and promptly at Agent's request if there is an Unwaived Event of Default, Borrower shall conduct a review, or cause a review to be conducted, of its and every other Covered Person's Accounts, bad debt reserves, and collection histories of Account Debtors and promptly following such review provide Agent with a report of such review in form and detail satisfactory to Agent.
Upon an Event of Default and at any time and from time to time thereafter so long as any Unwaived Event of Default exists, Agent (or any person retained by Agent for the purposes described in this paragraph) may, at its sole option, enter upon any premises leased or owned by any Covered Person to perform an environmental assessment of Borrower, any Covered Person, or any of the Real Property Collateral.
Borrower shall reimburse Agent for all costs and expenses actually incurred by Agent in conducting each audit during any period in which any Unwaived Event of Default exists.
Upon any other Event of Default, and at any time thereafter so long as any Unwaived Event of Default exists, the Required Lenders may cancel the Commitments.
If Borrower fails after Agent's demand to pursue diligently any right under any of the Acquisition Documents, or if there is an Unwaived Event of Default, then Agent may directly enforce such right in its own or Borrower's name and may enter into such settlements or other agreements with respect thereto as Agent determines.
Upon any other Event of Default, and at any time thereafter so long as any Unwaived Event of Default exists, Required Lenders may declare all of the outstanding Loan Obligations immediately due and payable.
Make any payment of interest or prepayment of principal, or pay any fees (except reimbursement for actual out-of-pocket cost and expenses, subject to the subordination limitations contained in the Minnesota Mutual Subordinated Documents), with regards to the Minnesota Mutual Subordinated Indebtedness; provided, however, so long as there exists no Unwaived Event of Default, Borrower may pay regularly scheduled interest and principal payments on the Minnesota Mutual Subordinated Indebtedness.
Any portion of a Letter of Credit Fee received by Agent but not accrued for any such quarterly period as a result of a decrease in the undrawn face amount of the applicable Letter of Credit or the termination of the applicable Letter of Credit whereby the Letter of Credit Issuer no longer has any obligations thereunder shall be reimbursed by Agent to Borrower on the next payment date so long as there exists no Unwaived Event of Default.
If an Unwaived Event of Default exists, Agent is hereby authorized to collect, for the ratable benefit of the Lenders, all Insurance/Condemnation Proceeds directly and, after deducting the expenses, if any, incurred by Agent in collection or handling thereof, apply such Insurance/Condemnation Proceeds as a prepayment to be applied in the manner required under Section .
Once per Fiscal Year, and promptly at Agent's written request if there is an Unwaived Event of Default, Borrower shall conduct a physical count of its and every other Covered Person's Inventory and promptly following the completion of such count provide Agent with a report thereof in form and detail satisfactory to Agent, including the value of such Inventory (on a first-in-first-out basis).