Defaulting Noteholder s Account" means the bank account specified to the Issuer (with a copy to the Principal Paying Agent and the Note Agent) by a Defaulting Noteholder to which Replacement PPN Net Bid Proceeds should be paid and which shall, whilst the Notes held by the relevant Defaulting Noteholder are in global form, be the designated account of the relevant Defaulting Noteholder in the relevant Clearing System.
Defaulting Noteholder means, subject to Section 209, any Series 2011-1 Noteholder that, as determined by Indenture Trustee, (a) has failed to perform any of its funding obligations hereunder, including in respect of its Series 2011-1 Advances, within two (2) Business Days of the date required to be funded by it hereunder, or (b) has notified the Issuer or Indenture Trustee that it does not intend to comply with its funding obligations or has made a public statement to that effect with respect to its funding obligations under this Supplement or under other Series 2011-1 Related Documents generally in which it commits to extend credit (it being agreed that a failure or refusal by a Series 2011-1 Noteholder to honor funding requests as a result of a good faith dispute regarding the continuing obligation of such Series 2011-1 Noteholder to provide requested funds under such other agreement shall not serve as the basis for classification of such Series 2011-1 Noteholder as a Defaulting Noteholder).
Defaulting Noteholder means any Noteholder (other than a Noteholder which is an Investor Affiliate):
Examples of Defaulting Noteholder in a sentence
The Commander also stated that there is no compelling reason to assume any of the other 15 MILCON project designs violated Federal law or Navy policy.
Any payments, prepayments or other amounts paid or payable to a Defaulting Noteholder that are so applied shall be deemed paid to and redirected by such Defaulting Noteholder, and each Series 2012-1 Noteholder is hereby deemed to have irrevocably consented to this treatment.
The Conversion Date shall not have occurred, unless such Series 2012-1 Advance has been approved by each Series 2012-1 Noteholder (other than a then Defaulting Noteholder).
The Issuer shall redeem the Notes of the Defaulting Noteholder on the Default Letter Notification Date in consideration for the issue by the Issuer of a Substitute PPN to the Defaulting Noteholder.
Not less than 5 Business Days following the later of (i) receipt by the Issuer of Replacement PPN Bid Proceeds and (ii) receipt of details of the related Defaulting Noteholder's Account, the Issuer shall redeem the related Substitute PPN in consideration for the payment to such Defaulting Noteholder of the Replacement PPN Net Bid Proceeds to the credit of Defaulting Noteholder's Account.
More Definitions of Defaulting Noteholder
Defaulting Noteholder means a Class A-1R Noteholder or a Committed Liquidity Provider thereto who fails to fund any portion of a Class A-1R Advance in accordance with the terms of the Class A-1R Note Purchase Agreement for as long as such failure continues and is not remedied either by (a) such Class A-1R Noteholder or Committed Liquidity Facility Provider funding the relevant Defaulted Class A-1R Advance or (b) the application of any payments which would otherwise be due and payable to such Class A-1R Noteholder if such Class A-1R Noteholder had not been a Defaulting Noteholder such that the relevant Defaulted Class A-1R Advance has been fully funded;
Defaulting Noteholder means any Noteholder:
Defaulting Noteholder means a Class A-1 Noteholder or a Class A-2 Noteholder who (i) fails to satisfy the Rating Requirement at any time on or prior to the Commitment Termination Date and to take the relevant action required pursuant to sub-clauses (i), (iii) or (iv) of Condition 2(i) (Class A Notes) or (ii) fails to fund any portion of a Class A-1 Advance or a Class A-2 Advance in accordance with the terms of the Class A-1 Note Purchase Agreement or, as the case may be, the Class A-2 Note Purchase Agreement (subject to a grace period of three Business Days) for as long as such failure continues and is not remedied by such Class A-1 Noteholder or a Class A-2 Noteholder funding the relevant Class A-1 Advance or Class A-2 Advance.
Defaulting Noteholder means a Class A-1R Noteholder who:
Defaulting Noteholder means any Series 2012-1 Noteholder (or, if applicable, any member of its Related Group that (a) has failed to fund any portion of any Series 2012-1 Advances required to be funded by it hereunder or under the Series 2012-1 Note Purchase Agreement, including any funding to be made in respect of a Delaying Noteholder, within two Business Days of the date required to be funded by it hereunder, unless such Series 2012-1 Noteholder is a Delaying Noteholder, (b) has otherwise failed to pay over to the Administrative Agent or any other Series 2012-1 Noteholder any other amount required to be paid by it under the Series 2012-1 Related Documents within two Business Days of the date when due, unless the subject of a good faith dispute, (c) has notified the Issuer (or any of its Affiliates) or the Administrative Agent in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect, (d) has failed, within three Business Days after written request by the Administrative Agent or the Issuer, to confirm in writing to the Administrative Agent and the Issuer that it will comply with its prospective funding obligations hereunder (provided that such Noteholder shall cease to be a Defaulting Noteholder pursuant to this clause (d) upon receipt of such written confirmation by the Administrative Agent and the Issuer), or (e) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Insolvency Law, or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee
Defaulting Noteholder means a Non-Compliant Class A-D/R Noteholder that (A) fails to take a Class A-D/R Rating Action but only for as long as such failure continues; or (B) fails to fund any portion of a Class A-D Advance or Class A-R Advance in accordance with the terms of the Class A-D Note Purchase Agreement or the Class A-R Note Purchase Agreement, as the case may be, for as long as such failure continues and is not remedied either by (a) such Class A-D Noteholder, Class A-R Noteholder or Committed Liquidity Provider, as the case may be, funding the relevant Defaulted Class A-D/R Advance or (b) the application of any Defaulting Noteholder Paid Amounts such that the relevant Defaulted Class A-D/R Advance has been fully funded.
Defaulting Noteholder means any Series 2013-1 Noteholder (or, if applicable, any member of its Related Group) that (a) has failed to fund any portion of any Series 2013-1 Advances required to be funded by it hereunder or under the Series 2013-1 Note Purchase Agreement, unless such Series 2013-1 Noteholder notifies the Administrative Agent and the Issuer in writing that such failure is the result of such Series 2013-1 Noteholder’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, within two Business Days of the date required to be funded by it hereunder, (b) has otherwise failed to pay over to the Administrative Agent or any other Series 2013-1 Noteholder any other amount required to be paid by it (or, if applicable) under the Series 2013-1 Related Documents within two Business Days of the date when due, unless the subject of a good faith dispute, (c) has notified the Issuer or the Administrative Agent in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Series 2013-1 Noteholder’s obligation to fund a Series 2013-1 Advance and states that such position is based on such Series 2013-1 Noteholder’s determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (d) has failed, within three Business Days after written request by the Administrative Agent or the Issuer, to confirm in writing to the Administrative Agent and the Issuer that it will comply with its prospective funding obligations hereunder (provided that such Series 2013-1 Noteholder shall cease to be a Defaulting Noteholder pursuant to this clause (d) upon receipt of such written confirmation by the Administrative Agent and the Issuer), or (e) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Insolvency Law, or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in...