Default Points definition

Default Points means those default points assigned to Project Co in accordance with Section
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Default Points means those points assigned to Project Co in accordance with Section 8.4 [Assignment of Default Points] of Schedule 10.
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Default Points means those points assigned to the Primary Contractor in accordance with Section 5.3 [Assignment of Default Points] of Schedule 9 [Performance Mechanism].
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Examples of Default Points in a sentence

  • If at any time the Province is notified, or otherwise becomes aware, that there is any Nonconformity relating to the Project Work, the Province may issue a Nonconformity Report, without prejudice to any other right or remedy available to the Province and BCTFA, including the assignment of NCE Points and/or Default Points pursuant to Schedule 10 [Payment and Performance Mechanism].

  • Default Points have potentially higher consequences than the NPE Points, as contractual default could occur due to poor performance.

  • If, in the opinion of the Authorised Officer, Works are incomplete or defective in any way following the stated Completion Date of the Default Notice (Period to Rectify) or if the breach is incapable of remedy, the Contractor may then be issued with Default Points (see below).

  • However, Default Points may be recorded in respect of Default Notices and Supplementary Default Notices and the Financial Penalties Provisions above shall apply at all times after the Commencement Date.

  • The PPP Certification Guide can be downloaded here:https://ppp-certification.com/pppguide/downloadSimilar to the NPE Points, Default Points are assigned when defined events occur.

  • The Boston Tea Party was the response of angry colonists to the taxing and importing of tea from Great Britain.

  • Remedies Any failure of 3 or more KPIs in any one month will incur a default point.Any continued failure for any one KPI over 3 months will incur a default point At any time when 3 Default Points have been recorded, the Dispute Resolution Procedure shall be invoked.

  • CONSTRUCTION PAYMENT ADMINISTRATION 5 2.1 Percent Completion for Construction Payment 5 2.2 Construction Payment Adjustment 7 2.3 Lane Closure Adjustment 8 2.4 Transit Impact Adjustment 11 2.5 Tree Removal Adjustment 13 2.6 Stony Plain Road Bridge Availability Payment Deduction 15 2.7 Non-Performance Event Payment Adjustment 16 2.8 Liquidated Damages 18 2.9 Default Points 18 3.

  • Default Points will be awarded for • Percentage discount variance of more than 1.5% • More than 2% of items received subject to administration errors • Failure to adhere to supplier selection criteria • Failure to meet supply times Contractors issued with more than 400 Default Points within a 3 month rolling period may have their contract terminated or suspended.

  • In the event of a breach of the terms of this Contract by the Contractor, the Authority may terminate this Contract with immediate effect.These Default Points will be in addition to the existing financial penalties already set out in the standard contract.


More Definitions of Default Points

Default Points means those points assigned to the Concessionaire in accordance with Section 10.4 [Assignment of Default Points] of Schedule 10.
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Related to Default Points

  • 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.

  • 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 Interest Rate is two percent above the base lending rate of Barclays Bank PLC, as varied from time to time;

  • 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.

  • Default Period means, with respect to any Defaulting Lender, the period commencing on the date of the applicable Funding Default and ending on the earliest of the following dates: (i) the date on which all Commitments are cancelled or terminated and/or the Obligations are declared or become immediately due and payable, (ii) the date on which (a) the Default Excess with respect to such Defaulting Lender shall have been reduced to zero (whether by the funding by such Defaulting Lender of any Defaulted Loans of such Defaulting Lender or by the non-pro rata application of any voluntary or mandatory prepayments of the Loans in accordance with the terms of Section 2.13 or Section 2.14 or by a combination thereof) and (b) such Defaulting Lender shall have delivered to Company and Administrative Agent a written reaffirmation of its intention to honor its obligations hereunder with respect to its Commitments, and (iii) the date on which Company, Administrative Agent and Requisite Lenders waive all Funding Defaults of such Defaulting Lender in writing.

  • Default Interest means interest chargeable in terms of this Agreement to unpaid amounts or outstanding obligations which interest shall be calculated, from the due date until date of payment, on a daily balance and compounded monthly in arrear at an annual rate of two percent (2%) above the prevailing, variable prime rate publicly quoted by ABSA Bank Limited from time to time.

  • Default Horizon Ratio means, as of any Cut-Off Date, the ratio (expressed as a decimal) computed by dividing (i) the aggregate amount of Receivables originated by the Originators during the four Calculation Periods ending on such Cut-Off Date, by (ii) the Net Pool Balance as of such Cut-off Date.

  • Default Interest Period means for any overdue amount of the Withdrawn Loan Balance, each Interest Period during which such overdue amount remains unpaid; provided, however, that the first such Default Interest Period shall commence on the 31st day following the date on which such amount becomes overdue, and the final such Default Interest Period shall end on the date at which such amount is fully paid.”

  • Loan Default means an event, which with the giving of notice or lapse of time or both, would become a Loan Event of Default.

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

  • Note Default Interest Spread means a rate per annum equal to three percent (3.0%); provided, however, that if the weighted average of the Senior Note Default Rate and the Note B Default Rate would exceed the maximum rate permitted by applicable law, the note default interest spread shall equal (i) the rate at which the weighted average of the Senior Note Default Rate and the Note B Default Rate equals the maximum rate permitted by applicable law minus (ii) the Mortgage Loan Rate.

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

  • Hedge Breakage Costs For any Hedge Transaction, any amount payable by the Seller for the early termination of that Hedge Transaction or any portion thereof.

  • 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 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.

  • Customer Default has the meaning set out in clause 8.3.

  • 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.

  • Default Rate Interest is defined in Section 3.1(b)(ix) of this Agreement.

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

  • Modification Default Loss means the loss calculated in Exhibits 2a(1)-(3) for single family loans previously modified pursuant to this Single Family Shared-Loss Agreement that subsequently default and result in a foreclosure, short sale or Deficient Loss.

  • Senior Default means any Senior Payment Default or Senior Covenant Default.

  • in default means that, as to any Mortgage Loan, any Mortgage Note payment or escrow payment is unpaid for thirty (30) days or more after its due date (whether or not the Seller has allowed any grace period or extended the due date thereof by any means) or another material default has occurred and is continuing, including the commencement of foreclosure proceedings or the commencement of a case in bankruptcy for any Customer in respect of such Mortgage Loan.

  • Collateral Default Amount means, with respect to any Distribution Date, the product of the Investor Default Amount for such Distribution Date and the Collateral Floating Percentage.

  • Non-Defaulting Party has the meaning specified in Section 6(a).

  • Potential Defaulting Lender means, at any time, (i) any Lender with respect to which an event of the kind referred to in the definition of “Lender Insolvency Event” has occurred and is continuing in respect of any Subsidiary of such Lender, or (ii) any Lender that has notified, or whose Lender Parent or a Subsidiary thereof has notified, the Administrative Agent, the Borrower or any LC Issuing Bank in writing, or has stated publicly, that it does not intend to comply with its funding obligations generally under other loan agreements, credit agreements and other similar agreements, unless such writing or statement states that such position is based on such Lender’s determination that one or more conditions precedent to funding cannot be satisfied (which conditions precedent, together with the applicable default, if any, will be specifically identified in such writing or public statement). Any determination by the Administrative Agent that a Lender is a Potential Defaulting Lender under any of clauses (i) and (ii) above will be conclusive and binding absent manifest error, and such Lender will be deemed a Potential Defaulting Lender (subject to Section 2.19(f) hereof) upon notification of such determination by the Administrative Agent to the Borrower, the LC Issuing Banks and the Lenders.