Cross-Defaults definition

Cross-Defaults. Shall not contain any cross-default provisions or cross-acceleration provisions any more onerous to Fleetwood than the terms of the 2003 Subordinated Debentures or as may be reasonably acceptable to the Agent Closing Date: On or prior to December 31, 2008 Use of Proceeds: To repay in part or in full (or in partial or complete satisfaction of any put, redemption or prepayment obligation in respect of) the 2003 Subordinated Debentures. Exhibit B Summary Indicative Terms of 2008 Senior Secured Debentures Issuer: Fleetwood Enterprises, Inc. Securities: 2008 Senior Secured Debentures.
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Cross-Defaults means any event of default under Section 6.01(6) of the Indenture other than as a consequence of the termination of any Third Party Forbearance Agreement prior to March 31, 2016.
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Examples of Cross-Defaults in a sentence

  • Cross-Defaults on Qualified Financial Contracts with Affiliated EntitiesAn initial and significant problem in resolving financial conglomerates under the Bankruptcy Code is the possibility that counterparts on de- rivatives contracts and other qualified financial contracts (QFCs) will exercise existing contrac- tual rights to close out their transactions with affiliated entities, precipitating a run on the corporate group and dissipating going-concern value that the SPOE approach is designed to preserve.

  • Taking a More Muscular Approach to Cross-Defaults on QFCs We now turn to technical challenges in resolv- ing financial conglomerates through bank- ruptcy proceedings, starting first with the problem of cross-defaults on QFCs with holding-company affiliates.

  • Guarantees that are Subject to Cross-Defaults The proposed rule would prohibit covered BHCs from issuing any parent guarantee of subsidiary liabilities to third parties if they contain a cross-default based on the covered BHC’s insolvency or entry into resolution.

  • Guarantees that are Subject to Cross-Defaults As discussed in further detail in Section VII.A, it would be extremely difficult, and in some cases, impossible, for a covered BHC’s subsidiaries to conform the impermissible cross- defaults for legacy guarantees of subsidiary liabilities, especially long-term debt securities.

  • See “Description of the Notes — Additional Amounts.” For a description of certain United States tax aspects of the Notes, see “Taxation — United States Federal Income Tax Considerations.” Cross-Defaults .

  • Cross-Defaults of Multiple Qualified Projects during Affordability Period An Eligible Borrower owning two or more Qualified Projects will be required to cross-default all Qualified Projects only during the Affordability Periods for each of the multiple Qualified Projects.

  • The Enforceability of Cross-Defaults The power to enforce contracts of subsidiaries and affiliates of the covered financial company under section 210(c)(16) of Dodd-Frank may be critical to the FDIC’s ability to address effectively the failure of large families of financial companies.

  • Cross-Defaults: Shall not contain any cross-default provisions or cross-acceleration provisions any more onerous to Fleetwood than the terms of the Credit Agreement and, in any event, such provisions shall be reasonably acceptable to the Agent.

  • Other than the Cross-Defaults, no Default or Event of Default exists under any of the Loan Documents on the date hereof and, on the Amendment Effective Date, no Default or Event of Default will exist or is reasonably expected to occur under any of the Loan Documents.

  • See “Description of the Bonds – Additional Amounts.” For a description of certain Sri Lankan tax aspects of the Bonds, see “Taxation – Sri Lankan Taxation.” For a description of certain United States tax aspects of the Bonds, see “Taxation – United States Federal Income Taxation.” Cross-Defaults .

Related to Cross-Defaults

  • Cross Default is specified in the Schedule as applying to the party, the occurrence or existence of (1) a default, event of default or other similar condition or event (however described) in respect of such party, any Credit Support Provider of such party or any applicable Specified Entity of such party under one or more agreements or instruments relating to Specified Indebtedness of any of them (individually or collectively) in an aggregate amount of not less than the applicable Threshold Amount (as specified in the Schedule) which has resulted in such Specified Indebtedness becoming, or becoming capable at such time of being declared, due and payable under such agreements or instruments, before it would otherwise have been due and payable or (2) a default by such party, such Credit Support Provider or such Specified Entity (individually or collectively) in making one or more payments on the due date thereof in an aggregate amount of not less than the applicable Threshold Amount under such agreements or instruments (after giving effect to any applicable notice requirement or grace period);

  • cross-default obligation means a term of any agreement or arrangement whereby the Appointee's liability to pay or repay any debt or other sum arises or is increased or accelerated by reason of a default of any person other than the Appointee. 6.12 Without prejudice to the application of paragraph 6.2 the Appointee shall declare or pay dividends only in accordance with a dividend policy which has been approved by the Board of the Appointee and which complies with the following principles -

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

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Events of Default has the meaning specified in Section 6.01.

  • Specified Event of Default means an Event of Default under Section 7.01(a), (b), (h) or (i).

  • Minor Default means any Event of Default that is not a Major Default.

  • Cross Default Amount means, for a Party, the cross default amount, if any, set forth in the Cover Sheet for that Party.

  • Owner Event of Default shall have the meaning set forth in Section 12.3 hereof

  • 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).

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

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

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

  • Existing Defaults means, collectively, the Events of Default identified on Exhibit A hereto.

  • 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);

  • Additional Default means any provision contained in any document or instrument creating or evidencing Indebtedness of the Borrower or any of its Subsidiaries which permits the holder or holders of such Indebtedness to accelerate (with the passage of time or giving of notice or both) the maturity thereof or otherwise requires the Borrower or any of its Subsidiaries to purchase such Indebtedness prior to the stated maturity thereof and which either (i) is similar to any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement, but contains one or more percentages, amounts or formulas that is more restrictive or has a xxxxxxx xxxxx period than those set forth herein or is more beneficial to the holder or holders of such other Indebtedness (and such provision shall be deemed an Additional Default only to the extent that it is more restrictive or more beneficial) or (ii) is different from the subject matter of any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement.

  • Senior Event of Default means an Event of Default under a Senior Financing Agreement.

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

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

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

  • Guarantor Default means any condition or event that with the giving of notice or lapse of time or both would, unless cured or waived, become a Guarantor Event of Default.

  • Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p).

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