Charter Default definition

Charter Default or "Charter Event of Default";
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Charter Default means a default by the Charterer that results in the Borrower having an obligation to prepay all or any of the Loans pursuant to Clause 16.25(b) (Charter Breach, Expiration or Termination of Time Charter).
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Charter Default means any of the following events:
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Examples of Charter Default in a sentence

  • The Vessel shall have been duly ------------------------ accepted by the Charterer under the Charter and in evidence thereof the Pass Through Trustee and the Indenture Trustee shall have received a protocol of delivery and acceptance executed by Charterer and no Charter Default or Charter Event of Default shall have occurred and be continuing.

  • No Charter Default or Charter Event ------------------------- of Default shall have occurred and be continuing.

  • ESBN’s work management systems will automatically compare the actual response time for every service against the Customer Charter service levels and will automatically generate a Charter Default if the response time exceeds the target service delivery.

  • No Charter Default or Charter Event ------------------------ of Default shall have occurred and be continuing.

  • No Charter Default or Charter ------------------------ Event of Default shall have occurred and be continuing.

  • Unless [Rowan] shall have elected to purchase the [Rowan Halifax] under Section 19, and unless a Charter Default shall have occurred and then be continuing, [Rowan] may, by irrevocable written notice to [Wilmington Trust] given not less than twelve months nor more than 18 months prior to the scheduled expiration of the Basic Term, renew this Charter at the expiration of the Basic Term.

  • In Technical Part the rates should be not filled under any circumstances.


More Definitions of Charter Default

Charter Default means an event which, after giving of notice --------------- or lapse of time, or both, would become a Charter Event of Default.
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Charter Default means any event or condition which, with the lapse of ---------------- time or the giving of notice, or both, would constitute a Charter Event of Default.
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Charter Default means any condition or event which, with the passage of time or giving of notice, or both, would become a Charter Event of Default. "Charter Event of Default" shall mean any one or more Events of Default set forth in Article 21 of the Bareboat Charters or Article XIV of the Time Charters. "Charter Period" shall mean the period for which the related Time Charter, Bareboat Charter and Operating Lease are in effect. "Charters" shall mean any of the Bareboat Charters and the Time Charters. "Chicago Assignment of Charterhire" shall mean that certain Assignment of Charterhire dated as of the Delivery Date, executed by the Chicago Owner in favor of the Collateral Trustee. "Chicago Assignment of Insurances" shall mean that certain Assignment of Insurances dated as of the Delivery Date, executed by the Chicago Owner and the Bareboat Charterer in favor of the Collateral Trustee. "Chicago Bareboat Charter" shall mean that certain Bareboat Charter dated as of March 30, 1999, by and between the Chicago Owner and the Bareboat Charterer, as amended by Amendment No. 1 dated as of August 20, 1999, in respect of the OVERSEAS CHICAGO. "Chicago Finance Lease" shall mean that certain Finance Lease dated as of the Delivery Date, by and between the Chicago Owner and the Owner Trust pursuant to which the Chicago Owner will lease the OVERSEAS CHICAGO to the Owner Trust.
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Related to Charter Default

  • Minor Default means any Event of Default that is not a Major Default.

  • Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p).

  • Default means any event which is, or after notice or passage of time or both would be, an Event of Default.

  • Guarantor Default means any condition or event that with the giving of notice or lapse of time or both would, unless cured or waived, become a Guarantor Event of Default.

  • Owner Event of Default shall have the meaning set forth in Section 18.3.

  • Senior Default means any Senior Payment Default or Senior Covenant Default.

  • Buyer Default refers to nonpayment of the Xxxxxxx Money in accordance with the provisions of this Agreement (including nonpayment or dishonor of any check delivered for the Xxxxxxx Money) and/or the failure of this transaction to close due to nonperformance, breach and/or default with respect to the Buyer’s obligation(s) under this Agreement. In the event of a Buyer Default, the following provisions shall apply:

  • Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Special Default means (i) the failure by Owner to pay any amount of principal of or interest on any Equipment Note when due or (ii) the occurrence of any Default or Event of Default referred to in Section 5.01(v), (vi) or (vii).

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • Material Default means a material breach of this Framework Agreement and/or, breach by the Supplier of any of the following Clauses: Clause 8 (Warranties and Representations), Clause 9 (Prevention of Bribery and Corruption), Clause 13 (Statutory Requirements and Standards), Clause 14 (Non-Discrimination), Clause 15 (Provision of Management Information), Clause 16 (Management Charge), Clause 17 (Records and Audit Access), Clause 22 (Data Protection), Clause 23 (Freedom of Information) and Clause 31 (Transfer & Sub-contracting);

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

  • Seller Default has the meaning set forth in Section 12.1.

  • Purchaser Default has the meaning set forth in Section 11.2(a).

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

  • Lender Default means (a) the refusal or failure (which has not been cured) of a Lender to make available its portion of any Borrowing or to fund its portion of any Unpaid Drawing under Section 3.4 that it is required to make hereunder, (b) a Lender having notified the Administrative Agent and/or the Borrower that it does not intend to comply with its funding obligations under this Agreement or has made a public statement to that effect with respect to its funding obligations under this Agreement, (c) a Lender has failed to confirm (within one Business Day after a request for such confirmation is received by such Lender) in a manner reasonably satisfactory to the Administrative Agent, the Borrower and, in the case of a Revolving Credit Lender, each Revolving Letter of Credit Issuer that it will comply with its funding obligations under this Agreement, (d) a Lender being deemed insolvent or becoming the subject of a bankruptcy or insolvency proceeding or has admitted in writing that it is insolvent; provided that a Lender Default shall not be deemed to have occurred solely by virtue of the ownership or acquisition of any Stock in the applicable Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide the applicable Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit the applicable Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with the applicable Lender, or (e) a Lender that has, or has a direct or indirect parent company that has, become the subject of a Bail-In Action.

  • Senior Event of Default means an Event of Default under the Senior Loan Documents.

  • Bank Default means (i) the refusal (which has not been retracted) of a Bank to make available its portion of any Borrowing or to fund its portion of any unreimbursed payment under Section 2.03(c) or (ii) a Bank having notified in writing the Borrower and/or the Agent that it does not intend to comply with its obligations under Section 1.01 or Section 2, in the case of either clause (i) or (ii) as a result of any takeover of such Bank by any regulatory authority or agency.

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Customer Default has the meaning set out in clause 8.3.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • Event of Default has the meaning specified in Section 8.01.

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.