Early Default definition

Early Default means the failure of the Borrower to make any of the initial twelve (12) monthly payments in accordance with the terms of a Loan so that sums equal to the aggregate of two (2) such monthly payments have not been paid when due.
Sample 1Sample 2Sample 3
Early Default means any of the following events of default that occurred either: (a) within 18 months of the initial disbursement of the loan, or; (b) within 18 months of the final disbursement of the loan if the final disbursement occurred more than six months after the initial disbursement, unless the Borrower cured the default and made the scheduled loan payments for 12 consecutive months following the 18 month period:
Sample 1
Early Default means the failure of the Borrower to make any of the initial twelve (12) monthly payments in accordance with the terms of a Loan so that sums equal to the aggregate of two (2) such monthly payments have not been paid when due. 5
Sample 1

Examples of Early Default in a sentence

  • Certified Transcript of AccountEarly Default DefinitionA loan is considered Early Default when the default occurred within 18 months of the initial disbursement of the proceeds from an SBA Loan .

  • The lender had little incentive to make sure the loan performed, save a three- to six-month Early Payoff or Early Default price adjustment or repurchase, while the investor was too removed from the process to assure quality.

  • Change is anticipated for food regulation in the UK that may include changes to how we regulate food safety following the UK leaving the EU – particularly in relation to imported food.

  • Post – Closing Issues Repurchsing/Buy-Back Early Default Premium Recovery Foreclosure / NODProcedures and Time FramesQuality Control/Internal Audit1.5 hours5.

  • Wholesale Credit Early Default, a team charged with managing the wholesale portfolio with payment difficulties and leading the sub-unit of Individual Classification, which assesses the Bank’s non-retail customer portfolio to determine its rating and required level of provision, in consistency with the SBS and BBVA Group standards.

  • Early Default Trends Identify early defaults and analyze risk implications (early default defined as default reported within 18 months of disbursement); i.e. sporadic versus trend evidence, etc.

  • The Mortgagee must adhere to the requirements under Early Default Intervention (III.A.2.h) except Face-to-Face Interviews (III.A.2.h.xii).

  • Express Early Default ReviewFor all guaranty purchase reviews involving a loan processed under PLP or SBAExpress authority that has gone into early default or experienced early loan problems, the lender must submit a copy of its credit memorandum with all supporting documentation used or relied on by the lender in its credit analysis, and a complete copy of the borrower's application for the loan, along with SBA Form 912 (Statement of Personal History) for each principal.

  • This study also included these variables and additionally showed that the different types of self-congruence have a positive main effect on emotional brand attachment when controlling for self-esteem and public-self-consciousness.

  • The number of days until the month’s end can be used as a proxy both for the salespeople’s effort to sell new cars and for their incentives to do so.We estimate the 2SLS regression of Early Default on New Car Percentage (the daily percentage of new car sales) by first predicting New-Car-Percentage with Days to Month End (the number of days until the month’s end) in the first stage.


More Definitions of Early Default

Early Default means any of the following events of default that occurred either:
Sample 1

Related to Early Default

  • Bank Default means (i) the refusal (which has not been retracted) of a Bank to make available its portion of any Borrowing or to fund its portion of any unreimbursed payment under Section 2.03(c) or (ii) a Bank having notified in writing the Borrower and/or the Agent that it does not intend to comply with its obligations under Section 1.01 or Section 2, in the case of either clause (i) or (ii) as a result of any takeover of such Bank by any regulatory authority or agency.

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

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

  • O & M Default means any default on the part of the Power Producer for a continuous period of ninety (90) days to (i) operate and/or (ii) maintain (in accordance with Prudent Utility Practices), the Project at all times.

  • 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.

  • Monetary Default shall have the meaning assigned to such term in Section 11(a).

  • Bankruptcy Default has the meaning assigned to such term in Section 6.01.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • 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.

  • 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.

  • Special Default means (i) the failure by Owner to pay any amount of principal of or interest on any Equipment Note when due or (ii) the occurrence of any Default or Event of Default referred to in Section 5.01(v), (vi) or (vii).

  • Non-Monetary Default shall have the meaning assigned to such term in Section 11(d).

  • Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p).

  • Potential Default means an event which but for the lapse of time or the giving of notice, or both, would constitute an Event of Default.

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

  • Non-Payment Default means any event (other than a Payment Default) the occurrence of which entitles one or more Persons to accelerate the maturity of any Designated Senior Indebtedness.

  • Authority Default shall have the meaning set forth in Clause 23.2;

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

  • Additional Default means any provision contained in any document or instrument creating or evidencing Indebtedness of the Borrower or any of its Subsidiaries which permits the holder or holders of such Indebtedness to accelerate (with the passage of time or giving of notice or both) the maturity thereof or otherwise requires the Borrower or any of its Subsidiaries to purchase such Indebtedness prior to the stated maturity thereof and which either (i) is similar to any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement, but contains one or more percentages, amounts or formulas that is more restrictive or has a xxxxxxx xxxxx period than those set forth herein or is more beneficial to the holder or holders of such other Indebtedness (and such provision shall be deemed an Additional Default only to the extent that it is more restrictive or more beneficial) or (ii) is different from the subject matter of any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement.

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

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • 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;’;

  • Material Default means a material breach of this Framework Agreement and/or, breach by the Supplier of any of the following Clauses: Clause 8 (Warranties and Representations), Clause 9 (Prevention of Bribery and Corruption), Clause 13 (Statutory Requirements and Standards), Clause 14 (Non-Discrimination), Clause 15 (Provision of Management Information), Clause 16 (Management Charge), Clause 17 (Records and Audit Access), Clause 22 (Data Protection), Clause 23 (Freedom of Information) and Clause 31 (Transfer & Sub-contracting);

  • Incipient Default means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default.