Default Claim definition

Default Claim shall have the meaning set forth in Section 18.2.1.2.
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Default Claim means a default claim filed by the Servicer with a Guarantee Agency under the Servicing Agreement.
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Examples of Default Claim in a sentence

  • Indemnifying Party will have the right, at its election, to take over the defense or settlement of such Alleged Default Claim by giving prompt written notice to the Indemnified Parties (but in no event later than five (5) Business Days prior to the time when an answer or other responsive pleading or notice with respect thereto is required).

  • So long as Indemnifying Party is diligently contesting any such Alleged Default Claim in good faith, Indemnifying Party may pay or settle such claim at its own expense.

  • Indemnified Parties agree to cooperate in the defense of such Alleged Default Claim and will grant Indemnifying Party access to records, information and personnel which are pertinent to such defense.

  • Purchaser will promptly (but in no event later than ten (10) Business Days prior to the time in which an answer or other responsive pleading or notice with respect to an Alleged Default Claim is required) give the Indemnifying Party written notice of an Alleged Default Claim which is asserted for the first time after the Closing Date.

  • If Indemnifying Party does not make the election to defend an Indemnified Party, then such Indemnified Party may, upon five (5) days' written notice to Indemnifying Party, and at the expense of Indemnifying Party, proceed to handle such Alleged Default Claim and Indemnifying Party will be bound by any settlement that such Indemnified Party makes in good faith with respect to such Alleged Default Claim.

  • The Challenged Default Claim Notice shall describe in reasonable detail, with specific reference to the Claim of Default in question, the basis upon which the Corporation considers that an Event of Default has not occurred.

  • If the Indemnifying Party makes such election, it may conduct the defense of such Alleged Default Claim through counsel or representative of its choosing and will be responsible for the expenses of such defense.

Related to Default Claim

  • Default Costs means reasonable attorney's fees and remarketing costs resulting from a Lessee default or Lessor's enforcement of its remedies. DELIVERY DATE - means date of delivery of Inventory Equipment to Lessee's address.

  • Default Right has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

  • default fund means a default fund held by a CCP in accordance with Article 42 of Regulation (EU) No 648/2012;

  • Default Under First Lien With respect to each Second Lien Loan, the related First Lien Loan related thereto is in full force and effect, and there is no default, breach, violation or event which would permit acceleration existing under such first Mortgage or Mortgage Note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration thereunder;

  • Default Notice means the written notice of Default of the Agreement issued by one Party to the other.

  • 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.

  • Net Default Charges With respect to any Mortgage Loan, Serviced Loan Combination or successor REO Mortgage Loan, the Default Charges referred to in clause third of Section 3.25(a) or clause fourth of Section 3.25(c), which are payable to the Master Servicer as Additional Master Servicing Compensation or the Special Servicer as Additional Special Servicing Compensation.

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

  • cross-default obligation means a term of any agreement or arrangement whereby the Appointee's liability to pay or repay any debt or other sum arises or is increased or accelerated by reason of a default of any person other than the Appointee. 6.12 Without prejudice to the application of paragraph 6.2 the Appointee shall declare or pay dividends only in accordance with a dividend policy which has been approved by the Board of the Appointee and which complies with the following principles -

  • Default Fee means with respect to any amount due and payable by Seller in respect of any Aggregate Unpaids, an amount equal to the greater of (i) $1000 and (ii) interest on any such unpaid Aggregate Unpaids at a rate per annum equal to 2% above the Base Rate.

  • Default Rights has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

  • Default Excess means, with respect to any Defaulting Lender, the excess, if any, of such Defaulting Lender’s Pro Rata Share of the aggregate outstanding principal amount of Loans of all Lenders (calculated as if all Defaulting Lenders (other than such Defaulting Lender) had funded all of their respective Defaulted Loans) over the aggregate outstanding principal amount of all Loans of such Defaulting Lender.

  • default value means a value derived from a typical value by the application of pre-determined factors and that may, in circumstances specified in this Directive, be used in place of an actual value;’;

  • Default Loan shall have the meaning provided in Section 5.2(b)(1).

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

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

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

  • Deficiency Claim means any portion of a Claim (a) to the extent the value of the holder’s interest in Assets securing such Claim is less than the amount of such Claim or (b) to the extent the amount of a Claim is subject to setoff is less than the amount of the Claim, each as determined by § 506(a) of the Bankruptcy Code.

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

  • 503(b)(9) Claim means a Claim or any portion thereof entitled to administrative expense priority pursuant to section 503(b)(9) of the Bankruptcy Code.

  • Secured Claim means a Claim that is secured by a Lien on property in which any of the Debtors’ Estates have an interest or that is subject to setoff under section 553 of the Bankruptcy Code, to the extent of the value of the Claim holder’s interest in such Estate’s interest in such property or to the extent of the amount subject to setoff, as applicable, as determined pursuant to section 506(a) of the Bankruptcy Code or, in the case of setoff, pursuant to section 553 of the Bankruptcy Code.

  • Default Charges Default Interest and/or late payment charges that are paid or payable, as the context may require, in respect of any Mortgage Loan or Serviced Pari Passu Companion Loan or REO Mortgage Loan.

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

  • Priority Claim means a Claim that is entitled to priority in payment pursuant to section 507(a) of the Bankruptcy Code that is not an Administrative Claim or a Priority Tax Claim.

  • Post-Default Rate means, (a) in respect of any principal of any Loan or any Reimbursement Obligation, the rate otherwise applicable plus an additional two percent (2.0%) per annum, and (b) with respect to any other Obligation, a rate per annum equal to the Base Rate as in effect from time to time plus the Applicable Margin for Base Rate Loans plus two percent (2.0%).