Demanded Security Default Sum definition

Demanded Security Default Sum means the full amount of this Guarantee where the Shipper has failed to procure the provision of security replacing this Guarantee to Belfast Gas by the time and in the manner contemplated in Sections G3.17, 3.18 or 4.2 of the Code (and so that the expression "the full amount of this Guarantee" shall mean the amount stated in Clause 5, less the amounts previously paid by the Guarantor to Belfast Gas pursuant to this Guarantee); and
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Demanded Security Default Sum means the full amount of this Guarantee where the Shipper has failed to procure the provision of security replacing this Guarantee to the Transporter by the time and in the manner contemplated in sections 18.9.1 and/or 18.9.2 and/or
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Demanded Security Default Sum means the full amount of this Guarantee where the Shipper has failed to procure the provision of security replacing this Guarantee to Premier Transmission by the time and in the manner contemplated in sections 13.3.13 22 and/or 13.3.14 23 and/or 13.4.2 of the Transportation Code (and so that the expression "the full amount of this Guarantee" shall mean the amount stated in Clause 5, less the amounts previously paid by the Guarantor to Premier Transmission pursuant to this Guarantee); and
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Examples of Demanded Security Default Sum in a sentence

  • In consideration of the payment of £1 payable on demand by BGE (UK) to the Guarantor, if] If there is a Security Default, the Guarantor shall within [14] days of receipt of a written demand from BGE (UK) pay the Demanded Security Default Sum to such bank account of BGE (UK) as is specified in such written demand.

  • In consideration of the payment of £1 payable on demand by the Transporter to the Guarantor, if] If there is a Security Default, the Guarantor shall within [14] days of receipt of a written demand from the Transporter pay the Demanded Security Default Sum to such bank account of the Transporter as is specified in such written demand.

  • In consideration of the payment of £1 payable on demand by Premier Transmission to the Guarantor, if] If there is a Security Default, the Guarantor shall within [14] days of receipt of a written demand from Premier Transmission pay the Demanded Security Default Sum to such bank account of Premier Transmission as is specified in such written demand.

Related to Demanded Security Default Sum

  • Mandatory Default Amount means the sum of (a) the greater of (i) the outstanding principal amount of this Debenture, plus all accrued and unpaid interest hereon, divided by the Conversion Price on the date the Mandatory Default Amount is either (A) demanded (if demand or notice is required to create an Event of Default) or otherwise due or (B) paid in full, whichever has a lower Conversion Price, multiplied by the VWAP on the date the Mandatory Default Amount is either (x) demanded or otherwise due or (y) paid in full, whichever has a higher VWAP, or (ii) 130% of the outstanding principal amount of this Debenture, plus 100% of accrued and unpaid interest hereon, and (b) all other amounts, costs, expenses and liquidated damages due in respect of this Debenture.

  • Default Notice means the written notice of Default of the Agreement issued by one Party to the other.

  • Default Right has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

  • Specified Event of Default means any Event of Default under Section 8.01(a), (f) or (g).