Examples of Defaulting Party in a sentence
If any Early Termination Date is designated or deemed to occur as a result of an Event of Default in relation to a party, an amount equal to the Value of the Credit Support Balance, determined as though the Early Termination Date were a Valuation Date, will be deemed to be an Unpaid Amount due to the Transferor (which may or may not be the Defaulting Party) for purposes of Section 6(e).
If by the end of that further Rectification Meeting all the Parties except the Defaulting Party are still concerned that the Defaulting Party remains or is likely to remain in default then all the Parties except the Defaulting Party together may issue a further Rectification Notice or, if the Full Members (except the Defaulting Party) all agree then the Full Members may issue an Exclusion Notice to the Defaulting Party.
As soon as practicable after calculation of a Termination Payment, notice shall be given by the Non-Defaulting Party to the Defaulting Party of the amount of the Termination Payment and whether the Termination Payment is due to or due from the Non-Defaulting Party.
If an Event of Default has occurred and is continuing under this Addendum, the non- Defaulting Party, upon written notice to the Defaulting Party, may exercise any remedy available at law or in equity, including immediate termination of this Addendum.
If the Termination Payment is in favor of the Non-Defaulting Party, such Termination Payment in favor of the Non-Defaulting Party shall be due and payable by the Defaulting Party to the Non-Defaulting Party, but, if such Termination Payment is in favor of the Defaulting Party, such Termination Payment shall not be due or payable from the Non- Defaulting Party to the Defaulting Party.