Default definition

Default means any event that is, or with the passage of time or the giving of notice or both would be, an Event of Default.

Default means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default.

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

Examples of Default in a sentence

• Any Holder who receives a payment on a Note while an Event of Default remains in effect with respect to such Note in excess of the amount such Holder should have received shall be deemed to be holding such excess in trust for the benefit of other Holders and the Representative, and shall return such excess on demand.

• Upon the occurrence of an Event of Default, the Company shall provide written notice to all Holders (a “Notice of Default”).

• When an Event of Default is waived, it is deemed cured, but no such waiver shall extend to any subsequent or other Event of Default or impair any consequent right.

• Upon the occurrence of an Event of Default, the Holders shall be entitled to any remedy that may be available by law and as set forth in the Note itself.

• A Majority may, by notice to the Representative, waive an existing Event of Default and its consequence.

More Definitions of Default

Default means any event or condition which constitutes an Event of Default or which upon notice, lapse of time or both would, unless cured or waived, become an Event of Default.

Default means any event, act or condition that with notice or lapse of time, or both, would constitute an Event of Default.

Default means an event or condition the occurrence or existence of which would, with the lapse of time or the giving of notice or both, become an Event of Default.

Default means any event or condition that upon notice, lapse of time or both would constitute an Event of Default.

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

Default any of the events specified in Section 8, whether or not any requirement for the giving of notice, the lapse of time, or both, has been satisfied.

Default means any condition or event which constitutes an Event of Default or which with the giving of notice or lapse of time or both would, unless cured or waived, become an Event of Default.