Major Defaults definition

Major Defaults is defined in Section 5.5.3.
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Major Defaults means any Events of Default pursuant to Section 9.1(a), Section 9.1(b), (solely with respect to the Company) Section 9.1(f), and (solely with respect to the Company) Section 9.1(g) hereof and any Defaults (solely to the extent arising from noncompliance with Section 7.10) pursuant to Section 9.1(d).
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Major Defaults means an Event of Default pursuant to Section 8.1.4 (provided that the Forbearing Party concludes in good faith that such Event of Default could reasonably be expected to have a Material Adverse Effect), Section 8.1.5(a) (only with respect to Sections 5.1.2, 5.17, 5.19, 5.25, 6.2, 6.3, 6.4, 6.6.2, 6.11(a), 6.30), Section 8.1.6, Section 8.1.8, Section 8.1.9, Section 8.1.10, Section 8.1.12(a), Section 8.1.12(b) (other than with respect to violations of the Original Air Permit solely to the extent addressed by the Major Source Permit), Section 8.1.13, Section 8.1.15 (except for Major Project Documents to which an Affiliate of the Company is a party), Section 8.1.16 and Section 8.1.17 of the Credit Agreement.
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Examples of Major Defaults in a sentence

  • The Major Defaults apply to the Borrower only and not to the Target and its Subsidiaries.

  • Company acknowledges and agrees that, immediately after the Waiver Period expires, if the Loan Indebtedness and Purchase Indebtedness have not been fully repaid, each Creditor may, without further notice, exercise all of the rights and remedies contained in its Debt Documents and in this Agreement or available under applicable law, whether or not any Events of Default or Major Defaults then exist.

  • For the avoidance of doubt, the foregoing Conversion Eligible Outstanding Balance includes application of the Default Effect with respect to two (2) Major Defaults.

  • The Major Representations relating to the Borrower and the Guarantors shall be true and correct in all material respects (or, in all respects, if qualified by materiality) and there shall be no Major Defaults relating to the Borrower and the Guarantors after giving effect to the Transactions.

  • The Major Representations relating to the BorrowerCompany and the Guarantors shall be true and correct in all material respects (or, in all respects, if qualified by materiality) and there shall be no Major Defaults relating to the BorrowerCompany and the Guarantors after giving effect to the Transactions.

  • The Major Representations relating to the Company and the Guarantors shall be true and correct in all material respects (or, in all respects, if qualified by materiality) and there shall be no Major Defaults relating to the Company and the Guarantors after giving effect to the Transactions.

  • No Member, its Representative or its Affiliates (an "Actor") shall be liable to the Company or the other Members for actions taken in good faith by the Actor in connection with the Company or its business; provided that the Actor shall in all instances remain liable for acts in breach of this Agreement or the Contribution Agreement which the Facilitator by Decision determines to be Performance Defaults or Major Defaults as and to the extent set forth in Section 8 hereof.

Related to Major Defaults

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

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

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

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

  • 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.

  • 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).

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

  • Landlord Default shall have the meaning given such term in Article 14.

  • 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).

  • Lease Default means any event or condition which, with the lapse of time or the giving of notice, or both, would constitute a Lease Event of Default.

  • 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);

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

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

  • Contractor Default shall have the meaning set forth in Clause 23.1;

  • Owner Event of Default has the meaning specified in Section 16.2.

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

  • 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.

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

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

  • Senior Event of Default means an Event of Default under (and as defined in) the Senior Facilities Agreement.

  • Forbearance Default means: (A) the failure of the Company to provide the Noteholder Group and its financial advisors with reasonable access, as determined by the Noteholder Group in its reasonable discretion, to its Chief Executive Officer, other senior executives and outside advisors, including representatives of Xxxxx Xxxxx Xxxxxx that are working with the Company, and to provide the Noteholder Group and its legal and financial advisors with any and all due diligence information they may reasonably request, including, without limitation, the Company’s current 13-week cash flow schedule, and all updates thereto as soon as reasonably practicable after they are prepared, but in no event no later than two (2) business days thereafter; (B) the failure of the Company to engage in good faith negotiations with the Noteholder Group regarding a potential restructuring transaction, which determination shall be made by the Noteholder Group in its reasonable discretion; (C) the failure of the Company to promptly notify the Noteholder Group of the occurrence of a Forbearance Default (as defined in the DDJ Third Amended Forbearance Agreement) under the DDJ Third Amended Forbearance Agreement or any amendment or modification to the DDJ Third Amended Forbearance Agreement; (D) termination of the DDJ Third Amended Forbearance Agreement; (E) the execution of any amendment or modification to the DDJ Third Amended Forbearance Agreement, which amendment or modification has a material adverse effect on the Noteholder Group as determined by the Noteholder Group in its reasonable discretion; (F) termination by the Company of the Xxxxxx Engagement Letter or the failure of the Company to pay Xxxxxx’x fees, expenses and indemnity in accordance with the terms of the Xxxxxx Engagement Letter; (G) the occurrence of any Event of Default that is not a Specified Existing Default; (H) the failure of the Company to comply with any term, condition, covenant or agreement set forth in this Third Amended Forbearance Agreement; (I) the failure of any representation or warranty made by the Company under this Third Amended Forbearance Agreement to be true and correct in all material respects as of the date when made; (J) the commencement by or against the Company or any of the Subsidiaries of a case under title 11 of the United States Code; or (K) the commencement of any action or proceeding by any creditor of the Company or any of the Subsidiaries seeking to attach or take similar action against the assets of the Company or the Subsidiaries. Any Forbearance Default shall constitute an immediate Event of Default under the Indenture.

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

  • 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.

  • Modification Default Loss means the loss calculated in Exhibits 2a(1)-(3) for single family loans previously modified pursuant to this Single Family Shared-Loss Agreement that subsequently default and result in a foreclosure, short sale or Deficient Loss.

  • Customer Default has the meaning set out in clause 8.3.

  • Event of Default wherever used herein, means any one of the following events (whatever the reason for such 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):