Default Obligation definition

Default Obligation means the amount of funds and / or securities liable to be paid / delivered by a Member who has committed an act of default in relation to the discharge of its liability or obligation relating to the concerned default and shall include all costs, charges, penalties, levies etc.
Sample 1Sample 2Sample 3
Default Obligation means the amount of funds and / or
Sample 1Sample 2Sample 3
Default Obligation means the amount of funds and / or securities liable to be paid / delivered by a Member who has committed an act of default in relation to the discharge of its liability or obligation relating to the concerned
Sample 1Sample 2

Examples of Default Obligation in a sentence

  • It is possible that a third party contract known as a Credit Default Obligation could account for the reason why the intangible is not in default, such supposition offers a reasonable explanation.

  • Default Requirement is relevant to the Obligation Default, Obligation Acceleration, Repudiation/Moratorium and Restructuring Credit Events.

  • Any amounts to be paid to such Future Funding Defaulting Lender in a court of competent jurisdiction shall be withheld or setoff against, and applied to, as necessary in order to recover the Future Funding Lender Default Obligation and, to the extent such recovery would not fully compensate the Future Funding Lenders and the other Holders for the breach of this Agreement by the Defaulting Future Funding Lender, to collect damages.

  • Default Obligation: Default Obligation means the amount of funds liable to be paid /delivered by a Member who has committed an act of default in relation to the discharge of its liability and shall include all costs, charges, penalties, levies etc.

  • Each payment of Contract Interest shall be applied to the earliest accrued and unpaid Contract Interest due to the Supporting Lender, and the accrued and unpaid Default Obligation due to such Supporting Lender for the period of time covered by Contract Interest so paid shall be deemed satisfied.

  • The statement using the Default Obligation will be recorded in the Minutes of Examination (BAP).

  • If the Holder elects to seek payment of Collection Costs, the Holder or its collection agent will so state in a written notice to the Borrower that describes the unpaid principal balance, accrued but unpaid interest and all other amounts due to the Holder under this Loan Agreement by reason of such Default (together, the "Default Obligation") and the Collection Costs to be assessed by reason of such Default.

  • Max acted for the Defendant in this claim for negligent investment advice in relation to a very large Credit Default Obligation.

  • Agent shall be entitled to (i) withhold or set off, and to apply to the payment of the Lender Default Obligation any amounts to be paid to such Defaulting Lender under this Agreement, and (ii) bring an action or suit against such Defaulting Lender in a court of competent jurisdiction to recover the Lender Default Obligation and, to the extent such recovery would not fully compensate the Lenders for the Defaulting Lender's breach of this Agreement, to collect damages.

  • For every year in which FLORIKAN is in full compliance with this provision, FLORIKAN shall be deemed to have earned a credit in the amount of $384,615 (a "One-Year Compliance Credit") towards FLORIKAN's Maximun Default Obligation hereunder (as described below).


More Definitions of Default Obligation

Default Obligation means an obligation based on factors other than the absent parent's
Sample 1Sample 2Sample 3
Default Obligation shall have the meaning set forth in Section 7.01(f) hereof.
Sample 1

Related to Default Obligation

  • 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 fund means a fund established by a CCP in accordance with Article 42 of Regulation (EU) No 648/2012 and used in accordance with Article 45 of that Regulation;

  • Lender Default means (a) the refusal or failure (which has not been cured) of a Lender to make available its portion of any Borrowing or to fund its portion of any Unpaid Drawing under Section 3.4 that it is required to make hereunder, (b) a Lender having notified the Administrative Agent and/or the Borrower that it does not intend to comply with its funding obligations under this Agreement or has made a public statement to that effect with respect to its funding obligations under this Agreement, (c) a Lender has failed to confirm (within one Business Day after a request for such confirmation is received by such Lender) in a manner reasonably satisfactory to the Administrative Agent, the Borrower and, in the case of a Revolving Credit Lender, each Revolving Letter of Credit Issuer that it will comply with its funding obligations under this Agreement, (d) a Lender being deemed insolvent or becoming the subject of a bankruptcy or insolvency proceeding or has admitted in writing that it is insolvent; provided that a Lender Default shall not be deemed to have occurred solely by virtue of the ownership or acquisition of any Stock in the applicable Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide the applicable Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit the applicable Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with the applicable Lender, or (e) a Lender that has, or has a direct or indirect parent company that has, become the subject of a Bail-In Action.