Events of default

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Events of default

Contractually specified events that allow lenders to demand immediate repayment of a debt.

Events of Default

In a loan, an event allowing the lender to call the full amount of the loan from the borrower. Events of default are specifically laid out in the loan contract, and often include chronically late payments or other breaches of contract.
References in periodicals archive ?
This press release contains forward-looking statements concerning EFI's plans to request a hearing before the Nasdaq Listing Qualifications Panel, the special committee's ongoing investigation of historical stock option grant practices, the SEC informal inquiry and EFI's expectations regarding a potential Event of Default under the indenture.
If ACS does redeem the notes, which can be put to the company at par value plus accrued interest in the event of default, Fitch believes consideration will be funded with existing cash on hand plus borrowings under the revolver, depending on the amount of the current revolver balance that was utilized for prior share repurchases.
The Waiver provides for continued access to borrowings under the revolving Credit Agreement, as well as a waiver of any default or event of default under the Credit Agreement that might arise as a result of any necessary restatement of prior financial statements provided such restatements are within the scope of the matters discussed in the Company's prior press releases, and permits CSK Auto, Inc.
The filing of the lawsuit was specifically prompted by the delivery of a June 14, 2006 letter by Ventas' counsel to Kindred's lender, JPMorgan Chase Bank, National Association, ("JPM"), asserting that an Event of Default exists under Ventas' Master Lease Agreements with Kindred as a result of Kindred's refusal to turn over its fair market rental appraisals to Ventas.
In the June 14, 2006 letter to JPM, Ventas asserted that JPM has until July 9, 2006 to cure the purported Event of Default on behalf of Kindred.
Unless an event of default or early redemption event occurs, class 2006-A6 investors will receive interest payments at an annual rate of one month LIBOR + 0.
If the Company does not cure this breach within this period, an Event of Default will occur under the indentures, and the trustees or the holders of at least 25% in aggregate outstanding principal amount of each Note may accelerate the maturity of that Note, causing the outstanding principal amount to be due and payable at that time.
The Company is endeavoring to file the requisite SEC documents before the end of the 60 day period triggering an Event of Default.