Compliant Party definition

Compliant Party has the meaning set forth in Section 7.4.
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Compliant Party means, in respect of any Tour in which it is scheduled to compete, a party that fulfils its commitments in accordance with the Future Tour Programme and any relevant Tour Format Agreement save only to any extent that it is prevented from so doing due to its scheduled opponent for such Tour being a Non-Compliant party and “Compliance” shall be construed accordingly.
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Compliant Party means, in respect of any Event of Default giving rise to an Unrecovered Bad Debt Payment, all of the Parties other than:(a) the Defaulting Party in respect of that Event of Default; and(b) the Defaulting Party in respect of any other Event of Default giving rise to an Unrecovered Bad Debt Payment that is calculated under Section K9.4 during the same month as the Unrecovered Bad Debt Payment to which reference is firstmade in this definition.”; and
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Examples of Compliant Party in a sentence

  • The Compliant Party shall calculate its exposure under this Agreement as soon as practicable after the Downgrade Event, and on a monthly basis thereafter (“Performance Assurance Calculation Date”).

  • For funds held as Performance Assurance by the Compliant Party, the Interest Rate will be the Federal Funds Rate as from time to time in effect.

  • The Compliant Party will be entitled to hold posted Performance Assurance, provided that the following conditions applicable to it are satisfied: (1) the Compliant Party is not a defaulting Party; (2) the Compliant Party or Seller has and maintains an Investment Grade Credit Rating or at least the minimum Shareholder Equity required in Section 7.3(a), as applicable; and (3) the posted Performance Assurance is held only in the United States.

  • The Compliant Party shall extend the Right to Cure Period if it is satisfied that the Noncompliant Party is making a good faith effort to cure the Noncompliance, but the nature of the Noncompliance is such that it cannot be cured within the Right to Cure Period.

  • The Compliant Party may extend the Right to Cure Period if it is satisfied that the Breaching Party is making a good faith effort to cure the Breach, but the nature of the Breach is such that it cannot be cured within the Right to Cure Period.

  • The Compliant Party shall state in the notice the nature of the Breach and that the Breaching Party has an opportunity to cure the Breach (the “Right to Cure Period”) within thirty (30) days from the effective date that it receives the written notice, or a shorter period of time if provided elsewhere in the Agreement.

  • The Compliant Party will be entitled to hold posted Performance Assurance, provided that the following conditions applicable to it are satisfied: (1) the Compliant Party is not a defaulting Party; (2) the Compliant Party has and maintains an Investment Grade Credit Rating required in Section 7.3(a), as applicable; and (3) the posted Performance Assurance is held only in the United States.

  • If a breach of any of the covenants of a Breaching Party occurs, any Compliant Party shall be entitled, in addition to all other rights and remedies that any Compliant Party may have at law or in equity, to have an injunction issued by any competent court enjoining and restraining the Breaching Party from continuing such breach.

  • The existence of any claim or cause of any action that the Breaching Party may have against any Compliant Party shall not constitute a defence or bar to the enforcement by the Compliant Party of the covenants of the Breaching Party under this Agreement.

  • If a Compliant Party must resort to litigation to enforce any of the covenants of the Breaching Party that have a fixed term, then such term shall be extended for a period of time equal to the period during which a breach of such covenant was occurring, beginning on the last day of the original fixed term of such covenant.

Related to Compliant Party

  • Relevant Party means each Loan Party and Sponsor (and, collectively “Relevant Parties”).

  • HIPAA Compliant means that a Loan Party to the extent legally required (i) is or will use commercially reasonable efforts to be in compliance in all material respects with each of the applicable requirements of the so-called “Administrative Simplification” provisions of HIPAA on and as of each date that any part thereof, or any final rule or regulation thereunder, becomes effective in accordance with its or their terms, as the case may be (each such date, a “HIPAA Compliance Date”) and (ii) is not and could not reasonably be expected to become, as of any date following any such HIPAA Compliance Date, the subject of any civil or criminal penalty, process, claim, action or proceeding, or any administrative or other regulatory review, survey, process or proceeding (other than routine surveys or reviews conducted by any government health plan or other accreditation entity) that could result in any of the foregoing or that has or could reasonably be expected to have a Material Adverse Effect.

  • Compliant status achieved pursuant to this paragraph shall continue until NYISO takes the requested PAR tap, or the Parties agree that NYISO not taking the requested PAR tap is no longer preventing PJM from taking the PAR tap(s) (if any) PJM needs to achieve compliance at the JK interface. If PJM cannot take a required tap at a Waldwick PAR because the change would result in an actual or post-contingency overload on either or both of the JK lines, or on any of the Waldwick PARs, and the overload cannot be addressed through NYISO taking taps at ABC or Ramapo, then PJM will be considered “Compliant” at the JK interface until the condition is resolved. PJM will be responsible for demonstrating both the occurrence and duration of the condition.

  • applicant Party means the Contracting Party requesting information;

  • SOX Compliant Entity means an entity that either is required to be compliant with, or voluntarily is compliant with, all of the following provisions of the Sarbanes-Oxley Act of 2002: (i) the preapproval requirements of Section 201 (Section 10A(i) of the Securities Exchange Act of 1934); (ii) the Audit committee independence requirements of Section 301 (Section 10A(m)(3) of the Securities Exchange Act of 1934); and (iii) the Internal control over financial reporting requirements of Section 404 (Item 308 of SEC Regulation S-K).

  • Loan Party means any one of them.

  • Independent Party means, with respect to a BDC Downstream Fund, (i) if the BDC Downstream Fund has a board of directors (or the equivalent), the board or (ii) if the BDC Downstream Fund does not have a board of directors (or the equivalent), a transaction committee or advisory committee of the BDC Downstream Fund.

  • Material Subsidiary means any Subsidiary that is not an Immaterial Subsidiary.

  • Material Non Listed Indian Subsidiary means an unlisted subsidiary, incorporated in India, whose income or net worth (i.e. paid up capital and free reserves) exceeds 20% of the consolidated income or net worth respectively, of the listed holding company and its subsidiaries in the immediately preceding accounting year.

  • Sanctioned Party means any persons, entities, bodies, or vessels designated by a Sanctioning Authority.

  • Obligated Party has the meaning assigned to such term in Section 10.02.

  • Borrower Party Affiliate With respect to a borrower, a mortgagor, a manager of a Mortgaged Property or a restricted mezzanine holder, (a) any other person controlling or controlled by or under common control with such borrower, mortgagor, manager or restricted mezzanine holder, as applicable, (b) any other person owning, directly or indirectly, 25% or more of the beneficial interests in such borrower, mortgagor or manager, as applicable, or (c) any other person owning, directly or indirectly 25% or more of the beneficial interests in such restricted mezzanine holder. For the purposes of this definition, “control” when used with respect to any specified person means the power to direct the management and policies of such person, directly or indirectly, whether through ownership of voting securities, by contract or otherwise and the terms “controlling” and “controlled” have meanings correlative to the foregoing.

  • Controlled Group Member means each trade or business (whether or not incorporated) which together with any Loan Party is treated as a single employer under Sections 4001(a)(14) or 4001(b)(1) of ERISA or Sections 414(b), (c), (m) or (o) of the Code.

  • Sanctioned Entity means (a) an agency of the government of, (b) an organization directly or indirectly controlled by, or (c) a Person resident in, in each case, a country that is subject to a sanctions program identified on the list maintained by the OFAC and published from time to time, as such program may be applicable to such agency, organization or Person.

  • Restricted Person shall have the meaning assigned to such term in Section 6.9(i).

  • Consolidated Party means any one of them.

  • Sanctioned Person means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or by the United Nations Security Council, the European Union or any EU member state, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person controlled by any such Person.

  • Tenant Party means any of the following persons: Tenant; any assignees claiming by, through, or under Tenant; any subtenants claiming by, through, or under Tenant; and any of their respective agents, contractors, employees, licensees, guests and invitees.

  • Eligible Tenant means, as of any date of determination, a bona fide third party lessee of a Property who satisfies each of the following criteria:

  • Relevant Parties means the Agent, each Borrower, each Security Party, the Security Trustee, each Lender and the Swap Bank;

  • Obligated Person means any person, including the Issuer, who is either generally or through an enterprise, fund, or account of such person committed by contract or other arrangement to support payment of all, or part of the obligations on the Bonds (other than providers of municipal bond insurance, letters of credit, or other liquidity facilities), as shown on Exhibit A.

  • Credit Party means the Administrative Agent, the Issuing Bank, the Swingline Lender or any other Lender.

  • Borrower Affiliate shall have the meaning set forth in the Lead Securitization Servicing Agreement; provided that in the event that any Non-Lead Note is securitized in a Securitization, the term “Borrower Affiliate” as used in the definitions of “Non-Lead Note Holder” and “Non-Lead Note Holder Representative” shall refer to a “Borrower Affiliate” as defined in the related Non-Lead Securitization Servicing Agreement or such other analogous term used in the related Non-Lead Securitization Servicing Agreement.

  • Non-Material Subsidiary means any Subsidiary that

  • Seriously disturbed person means a person who:

  • Prohibited Party As of any date of determination, any Person that has theretofore failed to comply with such Person’s obligations under Regulation AB with respect to the Trust Fund or any other securitization if (and only if) both (A) such failure was an “event of default” under the relevant agreement to which such Person was a party, and (B) such Person is proposed to become a Servicing Function Participant in respect of the Trust Fund. In determining whether any person or entity is a “Prohibited Party”, each party hereto, provided that they are not an Affiliate of such Person, shall be entitled to conclusively rely on a written certification from any Person stating that it is not a Prohibited Party. All necessary determinations under or for purposes of this definition shall be made as of the date of consummation of the transaction in which the relevant person or entity would become a Servicing Function Participant in respect of the Trust Fund.