Construction Default Notice has the meaning given to it in Section 6.1.
Modification Default Loss means the loss calculated in Exhibits 2a(1)-(3) for single family loans previously modified pursuant to this Single Family Shared-Loss Agreement that subsequently default and result in a foreclosure, short sale or Deficient Loss.
Loan Default means an event, which with the giving of notice or lapse of time or both, would become a Loan Event of Default.
Preliminary Default Notice shall have the meaning ascribed thereto in Article 13 of this Agreement;
Non-default Rate means a rate per annum equal to the cost (without proof or evidence of any actual cost) to the Non-defaulting Party (as certified by it) if it were to fund the relevant amount.
Default Notice means the written notice of Default of the Agreement issued by one Party to the other.
in default means that, as to any Mortgage Loan, any Mortgage Note payment or escrow payment is unpaid for thirty (30) days or more after its due date (whether or not the Seller has allowed any grace period or extended the due date thereof by any means) or another material default has occurred and is continuing, including the commencement of foreclosure proceedings or the commencement of a case in bankruptcy for any Customer in respect of such Mortgage Loan.
Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.
Registration Default Period shall have the meaning assigned thereto in Section 2(c).
Construction defect means a deficiency in or a deficiency arising out of the design, specifications, surveying, planning, supervision, or observation of construction or construction of residential improvements that results from any of the following:
Registration Default As defined in Section 5 hereof.
Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p).
Non-Defaulting Party has the meaning specified in Section 6(a).
Lease Default means any event or condition which, with the lapse of time or the giving of notice, or both, would constitute a Lease Event of Default.
Non-Defaulting Member means a Member who is not a Defaulting Member.
Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.
MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);
Construction Debt means debt incurred to fund (a) all or a portion of a Capital Improvement, (b) interest payments (including periodic net payments under related interest rate swap agreements) and related fees on other Construction Debt or (c) distributions (including incremental Incentive Distributions) on Construction Equity.
Bond Event of Default means the occurrence of any of the following (or such event or condition which with notice or lapse of time or both would constitute any of the following):
Landlord Default shall have the meaning given such term in Article 14.
Loan Event of Default An “Event of Default” as defined in the Loan Agreement.