Notice of Payment Default. On or promptly following the Initial Payment Default Date by Purchaser, SCPPA shall issue a Default Invoice and shall provide written notice to Purchaser that as a result of a Payment Default it is in default under this Agreement and has assumed the status of a Defaulting Purchaser and that Purchaser’s Project Rights are subject to discontinuance, termination and disposal in accordance with Sections 11.4 and 11.5 of this Agreement. Notice of such Payment Default shall be provided promptly by SCPPA to the other SCPPA Participating Members. In addition to the foregoing the notice of Payment Default shall specify that five (5) Days after the issuance of the written notice of Payment Default by SCPPA, deliveries of Capacity to the Purchaser pursuant to this Agreement shall be thereafter suspended until such time as Purchaser is in Compliance. SCPPA may take any action through or in conjunction with the Seller or any other counterparty under a Project Agreement or with the Project Manager, if applicable, to expeditiously carry forth the provisions of this Section 11.
Notice of Payment Default. In the event of any failure by Licensee to make timely payment of the Guaranteed Minimum Royalties, Licensor may delivery to Licensee an initial notice describing the payment default (such payment default, a “GMR Default” and such notice, an “Initial GMR Default Notice”). If the default remains uncured after ten (10) days of the date of Licensee’s receipt of the Initial GMR Default Notice, Licensor will provide Licensee with a second notice describing the payment default. If the payment default remains uncured after ten (10) days of the date of Licensee’s receipt of such second notice, Licensor will provide Licensee with a third notice describing the payment default (a “Third Default Notice”). Licensee may cure any failure to make timely payment at any time by paying the unpaid amounts and the interest assessed thereto (the “Unpaid GMR”). For sake of clarity, interest will accrue on any unpaid amounts beginning the date such amounts become due in accordance with Section 3.L.
Notice of Payment Default. (a) If the Issuer determines that a Payment Default has occurred the Issuer shall promptly notify the Trustee thereof.
(b) So long as the ownership of the Auction Rate Notes is maintained in book-entry form by the Depository, upon the occurrence of a Payment Default the Trustee shall immediately send a notice thereof to the Auction Agent and Market Agent by telecopy or similar means.
(c) So long as the ownership of the Auction Rate Notes is maintained in book-entry form by the Depository, the Trustee shall immediately send notice to the Auction Agent by telecopy or similar means if a Payment Default is cured. APPENDIX C NOTICE OF PAYMENT DEFAULT The National Collegiate Student Loan Trust 200_-_ Student Loan Asset Backed Notes Serves 200_-_, Class ___ NOTICE IS HEREBY GIVEN that a Payment Default currently exists with respect to the above-captioned issue. The next Auction for the Series 200_-_, Class ___ Notes will be held as scheduled on _______________. The rate of interest on the Series 200_-_, Class ___ Notes for the next succeeding Auction Period shall be determined through application of the Auction Procedures. Dated: __________________ By __________________________________ Authorized Signatory APPENDIX D NOTICE OF CURE OF PAYMENT DEFAULT The National Collegiate Student Loan Trust 200_-_ Student Loan Asset Backed Notes Series 200_-_, Class ___ NOTICE IS HEREBY GIVEN that the Payment Default with respect to the above-captioned issue has been cured. The next Interest Payment Date is _______________ and the next Auction Date is scheduled to be _____________. Dated: __________________ By _________________________________ Authorized Signatory APPENDIX E NOTICE OF EVENT OF DEFAULT The National Collegiate Student Loan Trust I Student Loan Asset Backed Notes Series 200_-_, Class ___ NOTICE IS HEREBY GIVEN that an Event of Default with respect to the above-captioned issue has occurred. Dated: __________________ By ________________________________ Authorized Signatory APPENDIX F NOTICE OF WAIVER/CURE OF EVENT OF DEFAULT The National Collegiate Student Loan Trust 200_-_ Student Loan Asset Backed Notes Series 200_-_, Class ___ NOTICE IS HEREBY GIVEN that an Event of Default with respect to the above-captioned issue has been [waived] [cured]. Determination of the interest rate on the Series 200_-_, Class ___ Notes pursuant to the Auction Procedures will resume. The next Interest Payment Date is _______________ and the next Auction Date is scheduled to be _________...
Notice of Payment Default. Each Bank that has made a Bid Loan pursuant to this subsection 2.22 shall notify the Agent and the Borrower as soon as practicable, and in no event later than 9:00 a.m. (Minneapolis time) on the Business Day immediately following the date payment is due with respect to such Bid Loan pursuant to paragraph (h) of this subsection 2.22, of any failure by the Borrower to remit the amounts payable pursuant to subparagraph (h) of this subsection 2.22, and PROVIDED, HOWEVER, that failure by any Bank to give notice as required by this sentence shall not release the Borrower from, nor have any other effect on, such obligation to remit.
Notice of Payment Default. Promptly following a Payment Default by a Participant, SCPPA shall provide written notice to such Participant that as a result of a Payment Default it is a Defaulting Project Participant whose rights, including its Contract Shares, under its Power Sales Agreement are subject to discontinuance, termination and disposal within 30 days of the date of such notice. Notice of such Payment Default shall be provided promptly by SCPPA to all other Participants.
Notice of Payment Default. The term “
Notice of Payment Default. 59 6.17 Eligibility; Disqualification...................................................... 59 6.18 Preferential Collection of Claims Against Issuer................................... 60
Notice of Payment Default. The Issuer will give written notice to the Trustee (with a copy of such notice to Moody's), promptly and in any event within ten days after the Issuer becomes aware of the occurrence, of any Payment Default, accompanied by an Officers' Certificate of the Issuer setting forth the details thereof and stating what action that the Issuer proposes to take with respect thereto.
Notice of Payment Default. If a Payment Default shall have occurred, the Trustee shall, within 90 (ninety) days of the occurrence of such Payment Default with respect to the Securities, give to each Securityholder in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act notice of the Payment Default as and to the extent provided by the Trust Indenture Act, unless such Payment Default shall have been cured or waived. The Trustee will be protected in withholding notice, however, if it determines in good faith that withholding notice is in the interest of the Securityholders.
Notice of Payment Default. No Seller shall have any obligation to notify Participant of any Default. No Seller shall have any responsibility to make any determination, from any information in its possession or by making inquiries, as to the existence of a default in payment by any Borrower under the Loan Documents or the occurrence and existence of any Default.
