Declaration of Default definition

Declaration of Default is defined in Section 6.3.
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Declaration of Default is defined in Section 8.5.
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Declaration of Default means the declaration of the termination of the obligations of the Noteholder to extend or maintain the Advances by reason of one or more Events of Default pursuant to Section 10.2.
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Examples of Declaration of Default in a sentence

  • Failure to remit funds in a timely manner will result in a Declaration of Default and any deposit will be frozen pending the outcome of any re-sale.

  • The beneficiary under said Deed of Trust heretofore executed and delivered to the undersigned a written Declaration of Default and Demand for Sale, and a written Notice of Default and Election to Sell.

  • Until a default is declared under this Agreement, a revocable license is granted to Borrower to collect and retain such Rents, charges, fees, carrying charges, Project accounts, security deposits, and other revenues and receipts, but upon a Declaration of Default under this Agreement or under the Security Instrument, this revocable license is automatically terminated.

  • In the event of a Declaration of Default under the terms of the Security Instrument, pursuant to which the Indebtedness has been accelerated, a written notification by HUD to Borrower of a violation of this Agreement or at such other times as determined solely by HUD, HUD may direct the application of the balance in such account to the amount due on the Indebtedness as accelerated or for such other purposes as may be determined solely by HUD.

  • Once the Owner determines that sufficient cause exists to justify the action, the Owner may terminate the Contract without prejudice to any other right or remedy the Owner may have, after giving the General Contractor and its Surety three (3) Calendar Days notice by issuing a written Declaration of Default.

  • Failure to remit funds in a timely manner will result in a Declaration of Default and any deposit will be frozen pending the outcome of any re-sale.SPECIAL NOTICE FOR LEASEHOLD TENANTS: If you area tenant residing in the property, be advised that an Order for Possession of the property may be issued in favor of the purchaser.

  • Once the Owner determines that sufficient cause exists to justify the action, the Owner may terminate the Contract without prejudice to any other right or remedy the Owner may have, after giving the Contractor and its Surety three (3) days-notice of the reason therefor by issuing a written Declaration of Default.

  • If, after receiving written Notice of a Violation, that Violation is not corrected to the satisfaction of HUD either within thirty (30) days after the date Notice is mailed, or within such shorter or longer time set forth in said Notice, HUD may declare a default (Declaration of Default) under this Agreement without further Notice.

  • Once the Owner determines that sufficient cause exists to justify the action, the Owner may terminate the Contract without prejudice to any other right or remedy the Owner may have, after giving the Construction Manager and its Surety three (3) Calendar Days notice by issuing a written Declaration of Default.

  • Once the Owner determines that sufficient cause exists to justify the action, the Owner may terminate the Contract without prejudice to any other right or remedy the Owner may have, after giving the Contractor and its Surety three days notice by issuing a written Declaration of Default.


More Definitions of Declaration of Default

Declaration of Default. See Section 7.3.
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Declaration of Default has the meaning given in Section 6.1 of this Agreement.
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Declaration of Default means a notice issued by the NSE and/or the clearing house informing a trading member, non-executing member or a clearing member of the occurrence of an Event of Default in accordance with rule 9.1 of these Derivatives Rules.
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Related to Declaration of Default

  • Notice of Default means a written notice of the kind specified in Section 501(4).

  • 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 shall have the meaning set forth in Section 12.3 hereof

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

  • Events of Default has the meaning specified in Section 6.01.

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

  • 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.

  • 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.

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