Secured Facility Event

Secured Facility Event. Means that a Secured Lender has declared Haynes to be in default of Haynes' obligations to such Secured Lender, the Secured Lender has accelerated all such obligations to such Secured Lender, and Haynes has (i) failed to cure such default such that such obligations are no longer accelerated, or (ii) provide adequate assurance reasonably acceptable to TIMET of Haynes' continuing ability to perform under the terms of the Transaction Documents.