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.
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Default Obligation means the amount of funds and / or
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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
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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
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Default Obligation shall have the meaning set forth in Section 7.01(f) hereof.
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Related to Default Obligation

  • L/C Obligation means, as at any date of determination, the aggregate maximum amount then available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts in respect of Letters of Credit, including all L/C Borrowings.

  • 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;

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • L/C Reimbursement Obligation means, for any Letter of Credit, the obligation of the Borrower to the L/C Issuer thereof, as and when matured, to pay all amounts drawn under such Letter of Credit.

  • Relevant Obligation means an obligation under this contract in respect of which a Force Majeure Event has occurred and the Affected Party has claimed relief under this Clause 17.

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

  • 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 3.50% above the Alternate Base Rate.

  • Lender Default means (i) the refusal or failure of any Lender to make available its portion of any incurrence of Loans, which refusal or failure is not cured within one Business Day after the date of such refusal or failure, unless such Lender notifies the Administrative Agent in writing that such refusal or failure is the result of such Lender’s good faith determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in writing) has not been satisfied, (ii) the failure of any Lender to pay over to the Administrative Agent, any Swingline Lender, any Letter of Credit Issuer or any other Lender any other amount required to be paid by it hereunder within one Business Day of the date when due, unless the subject of a good faith dispute, (iii) a Lender has notified, in writing, the Borrower or the Administrative Agent 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, or a Lender has publicly announced that it does not intend to comply with its funding obligations under other loan agreements, credit agreements or similar facilities generally, (iv) a Lender has failed to confirm in a manner reasonably satisfactory to the Administrative Agent that it will comply with its funding obligations under this Agreement, (v) a Distressed Person has admitted in writing that it is insolvent or such Distressed Person becomes subject to a Lender-Related Distress Event or (vi) a Lender has become the subject of a Bail-in Action.

  • Unmatured Event of Default means any event which, with the giving of notice, the passage of time or both, would constitute an Event of Default.

  • Reimbursement Obligation the obligation of the Borrower to reimburse the Issuing Lender pursuant to Section 3.5 for amounts drawn under Letters of Credit.