Counterparty Default definition

Counterparty Default means a Swap Guarantor Ratings Downgrade or an Event of Default or Termination Event under the Agreement, in respect of which Buyer is the Defaulting Party or the sole Affected Party (as such terms are defined in the Agreement).
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Counterparty Default means the occurrence of one or more of the following in respect of either the Performance Counterparty under the Performance Charged Agreement or the Funding Swap Counterparty under the Funding Charged Agreement:
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Counterparty Default means the Swap Agreement is terminated in whole pursuant to a Counterparty Swap Agreement Default or a Swap Guarantor Ratings Downgrade.
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Examples of Counterparty Default in a sentence

  • A Programme Counterparty Default Redemption Notice may not be delivered on or after the fourth Business Day prior to the Final Redemption Valuation Date.

  • For the purposes of Condition 8(b) an Early Redemption Event in the form of an “ETC Securities Balancing Agreement Redemption Event” will occur on the fourth Business Day following the date of the Programme Counterparty Default Redemption Notice.

  • Unpaid Amounts owing to the Funding Swap Counterparty (including (a) in the case of an Unmatched Counterparty Default, the aggregate of all of the Collateral Realisation Proceeds (if any) in respect of the realisation of the Credit Support Assets) on or before the last applicable Realisation Settlement Date) and (b) in the case of a Matched Counterparty Default, the Matched Collateral Value.

  • If the Early Termination amount is negative, it will be payable by the Issuer to the Performance Counterparty.The Early Unwind Notional Account Payments under the Cash Flows Swap are designed to ensure that the amount determined under sub-paragraph (i) above will be floored at zero on the occurrence of a Counterparty Default Event.

  • For the six BHCs subject to the global market shock, the losses on trading and private equity positions as well as the credit valuation adjustment are projected assuming an instantaneous re-pricing of these posi- tions under the global market shock (see Global Market Shock and Counterparty Default Compo- nents).

  • If the Value of the Total Return Funding Swap is required to be determined for the purposes of determining the Autocall Final Exchange Amount payable under the Total Return Funding Swap or for the purposes of determining amounts payable under or in respect of the Total Funding Swap other than as a result of a Counterparty Default, the Value of the Total Return Funding Swap shall be determined solely on the basis of the Funding Swap Counterparty Value.

  • The CIF does not provide investment services that would trigger the Assets under Management K- Factor and has not made a derogation to utilize the Clearing Margin Given K-factor as opposed to quantifying the Net Position Risk and Trading Counterparty Default.

  • For the purposes of Condition 8(b) an Early Redemption Event in the form of an “ETC Securities Swap Redemption Event” will occur on the fourth Scheduled Valuation Day following the date of the Swap Counterparty Default Redemption Notice.

  • The Company is not authorized to perform dealing on own account or underwriting investment activities nor did not hold any positions during the year; therefore, Daily Trading Flow and Trading Counterparty Default and Clearing Margin Given are not applicable and calculated as nil.

  • Counterparty Default A Fund may also have credit exposure to counterparties by virtue of positions in swap agreements, repurchase transactions, forward exchange rate and other financial or derivative contracts held by the Fund.


More Definitions of Counterparty Default

Counterparty Default means an Event of Default (as defined in the Total Return Swap) where the Swap Counterparty is the Defaulting Party (as defined in the Total Return Swap).
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Counterparty Default as defined in paragraph 2 of Schedule 2.3(c).
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Related to Counterparty Default

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

  • Bankruptcy Default has the meaning assigned to such term in Section 6.01.

  • Authority Default shall have the meaning set forth in Clause 23.2;

  • Servicer Event of Default wherever used herein, means any one of the following events:

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

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

  • Swap Counterparty Trigger Event A Swap Counterparty Trigger Event shall have occurred if any of a Swap Default with respect to which the Swap Counterparty is a Defaulting Party, a Termination Event with respect to which the Swap Counterparty is the sole Affected Party or an Additional Termination Event with respect to which the Swap Counterparty is the sole Affected Party has occurred.

  • Monetary Default shall have the meaning assigned to such term in Section 11(a).

  • 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).

  • O & M Default means any default on the part of the Power Producer for a continuous period of ninety (90) days to (i) operate and/or (ii) maintain (in accordance with Prudent Utility Practices), the Project at all times.

  • Unmatured Event of Default means any event which, with the giving of notice, the passage of time or both, would constitute an Event of Default.

  • 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):

  • Master Servicer Event of Default wherever used herein, means any one of the following events:

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • 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);

  • 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.

  • Material Event of Default means any Event of Default arising under Section 10.01(a), 10.01(b) (solely with respect to a default related to Section 8.01, 8.20 or 9.13), 10.01(f), 10.01(i), 10.01(j), 10.01(n) or 10.01(o).

  • Owner Event of Default has the meaning specified in Section 16.2.

  • Specified Event of Default means any Event of Default under Section 8.01(a), (f) or (g).

  • Non-Monetary Default shall have the meaning assigned to such term in Section 11(d).

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • Issuer Event of Default means the occurrence of any of the following events:

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

  • Forbearance Default means: (A) the failure of the Company to provide the Noteholder Group and its financial advisors with reasonable access, as determined by the Noteholder Group in its reasonable discretion, to its Chief Executive Officer, other senior executives and outside advisors, including representatives of Xxxxx Xxxxx Xxxxxx that are working with the Company, and to provide the Noteholder Group and its legal and financial advisors with any and all due diligence information they may reasonably request, including, without limitation, the Company’s current 13-week cash flow schedule, and all updates thereto as soon as reasonably practicable after they are prepared, but in no event no later than two (2) business days thereafter; (B) the failure of the Company to engage in good faith negotiations with the Noteholder Group regarding a potential restructuring transaction, which determination shall be made by the Noteholder Group in its reasonable discretion; (C) the failure of the Company to promptly notify the Noteholder Group of the occurrence of a Forbearance Default (as defined in the DDJ Third Amended Forbearance Agreement) under the DDJ Third Amended Forbearance Agreement or any amendment or modification to the DDJ Third Amended Forbearance Agreement; (D) termination of the DDJ Third Amended Forbearance Agreement; (E) the execution of any amendment or modification to the DDJ Third Amended Forbearance Agreement, which amendment or modification has a material adverse effect on the Noteholder Group as determined by the Noteholder Group in its reasonable discretion; (F) termination by the Company of the Xxxxxx Engagement Letter or the failure of the Company to pay Xxxxxx’x fees, expenses and indemnity in accordance with the terms of the Xxxxxx Engagement Letter; (G) the occurrence of any Event of Default that is not a Specified Existing Default; (H) the failure of the Company to comply with any term, condition, covenant or agreement set forth in this Third Amended Forbearance Agreement; (I) the failure of any representation or warranty made by the Company under this Third Amended Forbearance Agreement to be true and correct in all material respects as of the date when made; (J) the commencement by or against the Company or any of the Subsidiaries of a case under title 11 of the United States Code; or (K) the commencement of any action or proceeding by any creditor of the Company or any of the Subsidiaries seeking to attach or take similar action against the assets of the Company or the Subsidiaries. Any Forbearance Default shall constitute an immediate Event of Default under the Indenture.