Default Correction Date definition

Default Correction Date means with respect to an Uncured Default: (i) the day (if any) on which Publicly Available Information exists confirming that a Potential Failure to Pay has been cured and ceases to exist, as determined by the Calculation Agent, provided that such Potential Failure to Pay is cured within the originally applicable grace period prior to the expiry of which such debt is not capable of being declared due and payable, and provided that such cure occurs before a Credit Event as a result of a Failure to Pay occurs or (ii) the Repudiation/Moratorium Evaluation Date, provided that no Failure to Pay, determined without regard to the Payment Requirement or Restructuring, and without regard to the Default Requirement has occurred on or prior to the Repudiation/Moratorium Evaluation Date.
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Default Correction Date means with respect to an Uncured Default in respect of the Reference Entity that is a Potential Failure to Pay, the day (if any) on which Publicly Available Information exists confirming that a Potential Failure to Pay has been cured and ceases to exist, as determined by the Determination Agent, provided that such Potential Failure to Pay is cured within the originally applicable grace period prior to the expiry of which such debt is not capable of being declared due and payable, and provided that such cure occurs before an Event Determination Date in respect of the Reference Entity as a result of a Failure to Pay occurs.
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Default Correction Date means with respect to an Uncured Default in respect of the Reference Entity that is a Potential Failure to Pay, the day (if any) on which Publicly Available Information (as such defined term has been amended in the provisions in “Further additions or variations” below) exists confirming that a Potential Failure to Pay has been cured and ceases to exist, as determined by the Determination Agent, provided that such Potential Failure to Pay is cured within the applicable Grace Period, and provided that such cure occurs before an Event Determination Date in respect of the Reference Entity as a result of a Failure to Pay occurs.
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Related to Default Correction Date

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

  • Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.

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

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p).

  • 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.

  • Default Repayment Date means the settlement date set out by the Bond Trustee in a Default Notice requesting early redemption of the Bonds.

  • Incipient Default means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default.

  • Master Servicer Event of Default One or more of the events described in Section 7.01.

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

  • Collection Date means the date on which the aggregate outstanding principal amount of the Advances have been repaid in full and all Interest and fees and all other Obligations (other than contingent indemnification and reimbursement obligations which are unknown, unmatured and/or for which no claim giving rise thereto has been asserted) have been paid in full, and the Borrower shall have no further right to request any additional Advances.

  • Reserve Account Deficiency shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(b) of the Sale and Servicing Agreement.

  • 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.

  • Servicer Event of Default One or more of the events described in Section 7.01.

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • 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);

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

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

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

  • Owner Event of Default shall have the meaning set forth in Section 18.3.

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

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Minor Default means any Event of Default that is not a Major Default.

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • 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.

  • 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.