Amount in Default definition

Amount in Default means the principal and interest amount outstanding in the account of the borrower in respect of term loan/working capital term loan facility (including interest) as the case may be, as on the date of the account becoming NPA, or on the date of lodgment of claim application, whichever is lower, or on such other date as may be specified by Trustee Company for preferring any claim against the guarantee cover subject to a maximum of amount guaranteed.

Amount in Default means the principal and interest amount outstanding in the account(s) of the borrower in respect of term loan and amount of outstanding working capital facilities (including interest), as on the date of the account becoming NPA, or the date of lodgement of claim application whichever is lower or such other date as may be specified by CGTMSE for preferring any claim against the guarantee cover subject to a maximum of amount guaranteed.

Amount in Default means the Defaulting Party’s share of Joint Account expenses which the Defaulting Party has failed to pay when due pursuant to the terms of this Agreement (but excluding any interest owed on such amount); and

Examples of Amount in Default in a sentence

• If a Defaulting Party fails to remedy its default by the one hundred eightieth (180th) calendar day following the date of the Default Notice, then, without prejudice to any other rights available to the Non-Defaulting Party to recover its portion of the Amount in Default, plus accrued interest thereon, the Non-Defaulting Party may, but shall not be obligated to, exercise such Buy-Out Option by notice to the Defaulting Party (the “Option Notice”).

• If the valuation of the Defaulting Party’s Units is referred to an independent expert, such expert shall determine the Appraised Value which shall be equal to the fair market value of the Defaulting Party’s Units, less the following: (i) the Amount in Default, plus accrued interest; and (ii) all costs, including the costs of the expert, to obtain such valuation.

• The Amount in Default not paid by the Defaulting Party shall bear interest from the date due until paid in full.

• If such loan is linked to the consumer price index or to any foreign currency, the Amount in Default shall bear, during the default period, in addition to the said interest, also linkage and/or rate differentials, as the case may be, subject to any law.

• The Bank may also, at any time, without notifying the Borrower and/or the Guarantor and/or the Pledgor, add the Default Interest to the Amount in Default and apply all the terms and conditions of this Agreement governing the Amount in Default to the Default Interest, subject to the following provisions and to the provisions of any law.

More Definitions of Amount in Default

Amount in Default means the principal and interest amount outstanding in the account of the borrower in respect of term loan/working capital term loan facility (including interest) as the case may be, as on the date of the account

Amount in Default means the principal and interest amount outstanding in the account(s) of the borrower in respect of Sub-debt facility as on the date of theaccount becoming NPA, or the date of lodgment of claim application whichever is lower for preferring any claim against the guarantee cover subject to a maximum of amount guaranteed.

Amount in Default means the principal and interest amount outstanding in the account(s) of the borrower in respect of term loan or Composite Term Loan (including interest), as on the date of the account becoming NPA, or the date of lodgement of claim application whichever is lower subject to a maximum of amount of guarantee cover.

Amount in Default means the loan amount outstanding in the loan account(s) of the student borrower, inclusive of accrued interest, as on the date of the account becoming NPA, or the date of lodgment of claim application, whichever is lower, or such other amount as may be specified by the Fund for preferring any claim against the guarantee cover subject to a maximum of ‘Guarantee Cover’.

Amount in Default means the amount (principal + interest upto the date of NPA) outstanding in the books of the MLI.

Amount in Default means the principal and interest amount outstanding in the account(s) of the Farmer Producer Company (FPC) Borrower in respect of term loan and working capital facilities (including interest), as on the date of the account becoming Non Performing Asset (NPA), or the date of lodging claim application/recall of advance, whichever is earlier or such of the date as may be specified by SFAC for preferring any claim against the guarantee cover, subject to a maximum of amount Guaranteed and shall not include penal interest, other charges and any other costs debited to the FPC by the Eligible Lending Institution (ELI);

Amount in Default means the loan amount outstanding in the loan account(s)