Defaulting Owner definition

Defaulting Owner has the meaning given in clause 9.1(a).

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Defaulting Owner shall have the meaning set forth in Section 7.1(c) of this Agreement

Defaulting Owner has the meaning set forth in Section 2.1(b). “Director” means any member of the Board.

Examples of Defaulting Owner in a sentence

• The Defaulting Owner warrants to the Non-Defaulting Owner that it has good title to the assets to be transferred free from any Security Interest, pre-emptive rights, and other third party rights (other than a Cross Charge, a Permitted Security Interest and any Existing JV Arrangements).

• The Defaulting Owner shall be liable to pay to the City the sum of $2,000 for each failure to materially comply with the development standards set forth of this Agreement.

• The Defaulting Owner shall be liable to pay the City said $2,000 sum per day for each day that such failure to comply occurs.

• Following receipt of the notice given pursuant to clause 9.1(a)(iii) and provided the other Owner is not also a Defaulting Owner (the Non-Defaulting Owner), the Non-Defaulting Owner may elect to fund all or any part of the Unpaid Amount.

• If the Non-Defaulting Owner contributes all or any portion of an amount required to be contributed by the Defaulting Owner (the “Default Contribution”), the Non-Defaulting Owner shall be entitled to enforce its common law rights as a co-tenant of the Property.

More Definitions of Defaulting Owner

Defaulting Owner has the meaning given to such term in Section 12.01.

Defaulting Owner means a Co-Owner who has breached one or more of the terms and conditions contained in the Co-Owners Agreement and has failed to remedy the said breach within the time provided for herein;

Defaulting Owner as defined in Article IV, Section 4.

Defaulting Owner is defined in Section 1.5.7 to this Agreement.

Defaulting Owner means any owner who has not paid any dues (including maintenance fee, amenity charges etc.,) to the association for 60 days or more from the due date. Such defaulting owners shall not be entitled to any of the rights and privileges enjoyed by the other owners, or to the services, and facilities offered by the association, and shall forfeit all voting rights, whatsoever, till the dues are paid in full.

Defaulting Owner is defined in Section 6.4. “Direct Parent” means, with respect to an Owner, the Person that directly owns or holds the limited liability company interests, membership interests or other equity interests of such Owner, but shall not include any Affiliates, who may own or control such Person or who may indirectly own such Owner indirectly by virtues of its direct or indirect ownership of such Person. “DPI” means ▇▇▇▇▇▇▇▇▇ Petroleum, Inc., a Kentucky corporation. “DPI Contract Operating Agreement” is defined in Section 3.1. “Emergency” means a sudden or unexpected event which causes, or creates an imminent risk of causing, material damage to the Gathering System, or imminent injury, illness or death to individuals and is of such a nature that responding to the event cannot, in the good faith opinion of the Manager, await the decision of the Committee.

Defaulting Owner shall have the meaning set forth in Section 6.2.