Defaulting Person definition

Defaulting Person means any Owner, Exchange User, Occupant or other person who violates any part of this Agreement and the Rules. A Defaulting Person includes anyone who:
Sample 1Sample 2Sample 3
Defaulting Person is defined in Section 8.01; “Destruction” is defined in Section 10.01;
Sample 1Sample 2Sample 3
Defaulting Person shall have the meaning ascribed to it in section 5.1.5 of Part C (Secondment) of the Supplier Terms;
Sample 1Sample 2

Examples of Defaulting Person in a sentence

  • The Association may take all rents and other monies arising from the Use Period of a Defaulting Person.

  • A lawsuit may be commenced against the Defaulting Person for any remedy or relief generally given or allowed by law or specifically given or allowed by this Agreement and the Rules.

  • The Defaulting Person must pay back all advances as a Personal Charge.

  • The Defaulting Person would remain responsible for the Owner’s unpaid Charges in full, including interest and late charges, receiving no compensation for any such rents arising from the use of any forfeited assigned weeks.

  • To collect any money that is owed by a Defaulting Person, the Association can debit Proceeds held by the Association on behalf of the Defaulting Person.

  • The Defaulting Person would remain responsible for the Owner’s unpaid Charges in full, including interest and late charges, receiving no compensation for any such rents arising from the use of any forfeited A Defaulting Person also includes any Trespasser or Vandal and any Infringing Owner.


More Definitions of Defaulting Person

Defaulting Person is defined in Section 8.01; “Destruction” is defined in Section 10.01; Proposed V2016.0 April 16, 2016 INASKI SHORES OWNERS AGREEMENT THIS AGREEMENT reaffirmed as of April 16, 2016, based upon the last duly approved version as of April 25, 2015, based upon its original AGREEMENT established as of July 27, 2005 with amendments herein contained. A M O N G: The persons who are original signing parties to this Agreement as an Owner and any other person who from time to time becomes bound by this Agreement as an Owner, (hereinafter each individually called the “Buyer” or an “Owner”), - and – INASKI SHORES RESORT OWNERS ASSOCIATION, a not-for-profit corporation incorporated under the laws of the Province of Ontario, (hereinafter called the “Association”), RECITALS: A. The Association is the registered owner of the Property; B. It is the intent that each Owner shall be entitled to reserve on a priority basis and then use a specified Cottage for an agreed Interval and shall not be entitled to possession or use of the Cottage or access to the Property at any other time except as a member of the travelling and vacationing public having first reserved such Cottage; C. To give effect to the foregoing arrangement it is necessary that all Owners be or become parties to this Agreement; WITNESSES that for good and valuable consideration, receipt of which is hereby acknowledged, the parties hereto covenant and agree as follows: ARTICLE I -
Sample 1
Defaulting Person is defined in Section 8.01;
Sample 1
Defaulting Person has the meaning given in clause 10.5;
Sample 1
Defaulting Person has the meaning specified in Section 6.6(d).
Sample 1
Defaulting Person means any Person that (a) has failed to fund any portion of the Loans required to be funded by it hereunder when required to be funded by it hereunder, (b) has otherwise failed to pay over to the Administrative Agent or any Holder 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, or (c) has been deemed insolvent or become the subject of a bankruptcy or insolvency proceeding.
Sample 1
Defaulting Person means the person or entity who commits an Assessment Default.
Sample 1

Related to Defaulting Person

  • Defaulting Shareholder has the meaning set out in clause 16.7;

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

  • Defaulting Lender means any Lender with respect to which a Lender Default is in effect.

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

  • Indemnified Holder As defined in Section 8(a) hereof.

  • Permitted Holders means, at any time, each of (i) the Sponsors, (ii) the Management Group, (iii) any Person that has no material assets other than the Capital Stock of the Issuer and, directly or indirectly, holds or acquires 100% of the total voting power of the Voting Stock of the Issuer, and of which no other Person or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision), other than any of the other Permitted Holders specified in clauses (i) and (ii) above, holds more than 50% of the total voting power of the Voting Stock thereof and (iv) any group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision) the members of which include any of the Permitted Holders specified in clauses (i) and (ii) above and that, directly or indirectly, hold or acquire beneficial ownership of the Voting Stock of the Issuer (a “Permitted Holder Group”), so long as (1) each member of the Permitted Holder Group has voting rights proportional to the percentage of ownership interests held or acquired by such member and (2) no Person or other “group” (other than the Permitted Holders specified in clauses (i) and (ii) above) beneficially owns more than 50% on a fully diluted basis of the Voting Stock held by the Permitted Holder Group. Any Person or group whose acquisition of beneficial ownership constitutes a Change of Control in respect of which a Change of Control Offer is made in accordance with the requirements of this Indenture will thereafter, together with its Affiliates, constitute an additional Permitted Holder.