Bankruptcy Defaults definition

Bankruptcy Defaults means, each of the following events, to the extent they have constituted, or in future constitute, a default or event of default by the Debtor under a Brazos Contract, or Operative Agreement: (i) the Debtor’s filing of a petition for relief under chapter 11 of the Bankruptcy Code, (ii) the commencement and continuation of such proceeding in a manner that does not cause a breach or default under the Limited Waiver Agreement or the BSCEC Agreements, (iii) the defaults, including payment and collateral posting defaults, under the Debtor’s agreements with ERCOT that led to the Debtor’s bankruptcy filing, (iv) the statements made by the Debtor specific to the foregoing events or changes in Debtor’s credit ratings resulting therefrom, (v) Debtor’s failure to post security as required under the Brazos Contracts solely as a result of its no longer being investment grade rated, and
Sample 1Sample 2Sample 3
Bankruptcy Defaults means, each of the following events, to the extent they have constituted, or in future constitute, a default or event of default by the Debtor under a Brazos Contract, or Operative Agreement: (i) the Debtor’s filing of a petition for relief under chapter 11 of the Bankruptcy Code, (ii) the commencement
Sample 1
Bankruptcy Defaults. See Section 9.1(a).
Sample 1

Examples of Bankruptcy Defaults in a sentence

  • Any Bank may exercise the right of set-off with regard to any deposit accounts or other accounts maintained by the Company with any of the Banks, and the Company’s indebtedness hereunder shall be satisfied to the extent of any amount set-off against such indebtedness.Section 8.3. Remedies for Bankruptcy Defaults.

  • EVENTS OF DEFAULT AND REMEDIES 55 Section 7.1. Events of Default 55 Section 7.2. Non-Bankruptcy Defaults 57 Section 7.3. Bankruptcy Defaults 57 Section 7.4. Notice of Default 58 Section 7.5. Expenses 58 Section 7.6. Distribution and Application of Proceeds 58 ARTICLE 8.

  • Generally in countries with high minimums (e.g., Australia, Europe), one observes *higher* basic quality in the low-wage services industries, because low-quality franchise operations that rely on low costs are less competitive, while higher-quality operations are more competitive.

  • EVENTS OF DEFAULT AND REMEDIES 38 Section 8.1 Events of Default 38 Section 8.2 Non-Bankruptcy Defaults 40 Section 8.3 Bankruptcy Defaults 40 Section 8.4 Expenses 40 SECTION 9.

  • Events of Default and Remedies 8180 Section 9.1. Events of Default 8180 Section 9.2. Non-Bankruptcy Defaults 83 Section 9.3. Bankruptcy Defaults 83 Section 9.4. Collateral for Undrawn Letters of Credit 8483 SECTION 10.

  • As a commercial Bank, EXIM Bank Ltd performs all traditional Banking business including the wide range of savings and credit scheme products, retail banking with the support of modern technology and professional Excellency.

Related to Bankruptcy Defaults

  • Bankruptcy Default has the meaning assigned to such term in Section 6.01.

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

  • Bankruptcy or Default means the total cessation of operations due to insolvency, with or without the filing of a bankruptcy petition by an airline, or cruise line, tour operator or other travel provider provided the Bankruptcy or Default occurs more than 14 days following Your Effective Date for the Trip Cancellation Benefits. There is no coverage for the Bankruptcy or Default of any person, organization, agency or firm from whom You purchased Travel Arrangements supplied by others.

  • Monetary Default shall have the meaning assigned to such term in Section 11(a).

  • Non-Monetary Default shall have the meaning assigned to such term in Section 11(d).

  • Authority Default shall have the meaning set forth in Clause 23.2;

  • Bank Default means (i) the refusal (which has not been retracted) of a Bank to make available its portion of any Borrowing or to fund its portion of any unreimbursed payment under Section 2.03(c) or (ii) a Bank having notified in writing the Borrower and/or the Agent that it does not intend to comply with its obligations under Section 1.01 or Section 2, in the case of either clause (i) or (ii) as a result of any takeover of such Bank by any regulatory authority or agency.

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • Event of Insolvency means, for any Person:

  • Actionable Default means the occurrence of any of the following:

  • 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);

  • Material Event of Default means any Event of Default arising under Section 10.01(a), 10.01(b) (solely with respect to a default related to Section 8.01, 8.20 or 9.13), 10.01(f), 10.01(i), 10.01(j), 10.01(n) or 10.01(o).

  • Guarantor Default means a default by the Guarantor under its obligations pursuant to Article IX of the Note Purchase Agreement which is existing and continuing.

  • O & M Default means any default on the part of the Power Producer for a continuous period of ninety (90) days to (i) operate and/or (ii) maintain (in accordance with Prudent Utility Practices), the Project at all times.

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

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

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • Senior Default means any Senior Payment Default or Senior Covenant Default.

  • in default means that, as to any Mortgage Loan, any Mortgage Note payment or escrow payment is unpaid for thirty (30) days or more after its due date (whether or not the Seller has allowed any grace period or extended the due date thereof by any means) or another material default has occurred and is continuing, including the commencement of foreclosure proceedings or the commencement of a case in bankruptcy for any Customer in respect of such Mortgage Loan.

  • Loan Default means an event, which with the giving of notice or lapse of time or both, would become a Loan Event of Default.

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

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

  • Bankruptcy Event means, with respect to any Person, such Person becomes the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business appointed for it, or, in the good faith determination of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, provided, further, that such ownership interest does not result in or provide such Person with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person.

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.