Major Event of Default Definition: 102 Samples | Law Insider

Major Event of Default definition

Major Event of Default means an Event of Default arising from any of the following with respect to Borrower and the Guarantors only (and not, for the avoidance of doubt, (a) in relation to any other Subsidiary of Borrower or the Target Group or (b) in respect of any obligation to procure any action by any other Subsidiary of Borrower or the Target Group):
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Major Event of Default means an Event of Default arising under any of the following provisions:
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Major Event of Default any Event of Default arising under any of the following provisions (but only insofar as relates to the Certain Funds Loan Parties):
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Examples of Major Event of Default in a sentence

  • If a Major Event of Default has occurred and is continuing, an Interim Finance Party may set off any matured obligation (to the extent beneficially owned by the Interim Finance Party) due and payable by an Obligor to it under an Interim Finance Document against any matured obligation due and payable by it to that Obligor, regardless of currency, place of payment or booking branch of either obligation.

  • Major Event of Default means an event or circumstance set out in Part III (Major Events of Default) of Schedule 5 (Major Representations, Undertakings and Events of Default).

  • Promptly upon a request by the Interim Facility Agent, if the Interim Facility Agent has reasonable grounds for believing there is an outstanding Major Event of Default, the Obligors’ Agent shall supply to the Interim Facility Agent a certificate signed by an authorised signatory of the Obligors’ Agent certifying that no Major Event of Default is continuing (or, if a Major Event of Default is continuing, specifying the Major Event of Default and the steps, if any, being taken to remedy it).

  • No Major Event of Default shall have occurred and be continuing or would result from the proposed Extension of Credit to be made on such date.

  • The Obligors’ Agent shall promptly notify the Interim Facility Agent of (i) any Major Event of Default and (ii) any breach of the undertakings set out under the section titled “Acquisition Undertakings” in Clause 21.2 ( Undertakings) (and, in each case, the steps, if any, being taken to remedy it) upon becoming aware of its occurrence.


More Definitions of Major Event of Default

Major Event of Default means (i) any Event of Default (ignoring for this purpose any applicable grace periods) with respect to the Borrower or a Material Subsidiary of the Borrower (which, for the avoidance of doubt, shall not include the Target or any of its subsidiaries) only as specified in Sections 8.1(a) (but only insofar as it relates to a breach of any Major Representation), (b), (c), (d) (but only insofar as it relates to a breach of any Major Undertaking), (g), (h) and (k) or (ii) a Certain Funds Change of Control.
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Major Event of Default means an Event of Default set forth in any of (I) Section 4(a)(ii), (II) Section 4(a)(iii), (III) Section 4(a)(iv) if such Event of Default is triggered because of the Company's failure to timely pay any Principal amount or Interest due pursuant to the terms of this Note, (IV) Section 4(a)(ix) if such Event of Default is triggered because of the Company's failure to comply with Section 14(k) or (V) Section 4(a)(xv).
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Major Event of Default has the meaning given to such term in the “Agreed Form Company IFA” as defined in the Commitment Letter (as in effect on the Effective Date).
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Major Event of Default means the occurrence of an Event of Default described in Section 8.1(a) (with respect to the payment of principal or interest under the Notes), (g) or (h) hereof.
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Major Event of Default means with respect to the Borrower and the Merger Sub only, any circumstances constituting an Event of Default under any of Clause ‎22.1 (Non-payment), Clause ‎22.2 (Other obligations) only insofar as it relates to a breach of any Major Undertaking, Clause ‎22.3 (Misrepresentation) only insofar as it relates to a breach of any Major Representation, Clause ‎22.5 (Insolvency), Clause ‎22.6 (Insolvency proceedings), Clause ‎22.7 (Creditors’ process), Clause ‎22.9 (Unlawfulness and invalidity) or Clause ‎22.10 (Repudiation and rescission of agreements).
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Major Event of Default means the occurrence of any of the following events (with respect to any member of the Group which is not a member of the Target Group):
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Major Event of Default means any Event of Default described in Section 8.01(a), (b), (c), (f), (h), (j), (k), (l) or (n) of this Agreement.
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