Entity Default definition

Entity Default means any condition or event which with the giving of notice or lapse of time or both would, unless cured or waived, become an Entity Event of Default.
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Entity Default. The following events shall be defaults with respect to Buying Entity (each, a "Buying Entity Default") (i) An Insolvency Event shall have occurred with respect to Buying Entity; (ii) Buying Entity breaches any material term of the Agreement if (A) such breach can be cured within sixty (60) days after the SPD's notice of such breach and Buying Entity fails to so cure, or (B) Buying Entity fails to commence and pursue said cure within such sixty (60) day period if a longer cure period is needed; and (iii) Buying Entity fails to pay the SPD any undisputed amount or, if the amount is disputed, an amount based on average consumption of last three consecutive undisputed Invoices to the SPD under Section 7.8 of this Agreement within sixty (60) days from receipt of notice from the SPD of such past due amount.
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Entity Default has the meaning set forth in Section 25.
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Examples of Entity Default in a sentence

  • The Department shall provide written notice to the Development Entity of the occurrence of a Development Entity Default.

  • In the event that a Development Entity Default occurs and it has not been cured within any relevant cure period set out in Section 22.3 (Initial Notice and Cure Periods) or (if relevant) in accordance with any remedial plan accepted by the Department pursuant to Section 22.4(a) (Remedial Plan), the Department may terminate this PPA in accordance with, and subject to the terms of, Section 24.5 (Termination for Development Entity Default).

  • Notwithstanding the foregoing, a Purchasing Entity Default of Section 6.1 of this Exhibit H or a Purchasing Entity Default arising under Sections 16.3(f), (g), (h) or (i) shall not be entitled to notice or the right to cure and U.S. Bank may immediately terminate this Participating Addendum as a result of any such default.

  • Purchasing Entity shall cure any Purchasing Entity Default arising under Section 16.3. (b), (c), (d) and (e) within thirty (30) days notice of a Purchasing Entity Default.

  • Without limiting the foregoing, the Commonwealth shall have the right (at its own cost expense, unless a Development Entity Default shall have occurred and be continuing) to audit the Development Entity’s Project Management Plan and compliance therewith, including the right to inspect Project Services and/or activities and to verify the accuracy and adequacy of the Project Management Plan and other relevant Project Documents.

  • Purchasing Entity shall cure any Purchasing Entity Default arising under Section 16.3. (a) within five (5) days after notice of a Purchasing Entity Default.

  • Subject to there being no Buying Entity Default, the SPD shall provide 24 x 7 onsite / offsite monitoring and maintenance of the System throughout the period of this agreement at no additional cost.

  • The blessings you receive may surprise you, but they will certainly sustain you.

  • Any delay or failure on the part of U.S. Bank to take action upon the occurrence of a Purchasing Entity Default shall not constitute a course of dealing on the part of U.S. Bank, shall not constitute a waiver of such Purchasing Entity Default or prevent U.S. Bank from taking action on such Purchasing Entity Default or any other Purchasing Entity Default in the future.

  • So long as a Buying Entity Default shall not have occurred and be continuing, Buying Entity has the option to purchase the System by paying the SPD an amount equivalent to 90% of the Debt Due (“Purchase Price”).

Related to Entity Default

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

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

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

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

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

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

  • 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.

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

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

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

  • 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);

  • Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

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

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

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

  • Preliminary Default Notice shall have the meaning ascribed thereto in Article 13 of this Agreement;

  • 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.

  • 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.

  • Senior Nonmonetary Default means the occurrence or existence and continuance of any event of default with respect to any Designated Senior Debt, other than a Senior Payment Default, permitting the holders of such Designated Senior Debt (or a trustee or agent on behalf of the holders thereof) to declare such Designated Senior Debt due and payable prior to the date on which it would otherwise become due and payable. In the event that, notwithstanding the foregoing, the Company shall make any Securities Payment to the Trustee or any Holder prohibited by the foregoing provisions of this Section, and if such fact shall, at or prior to the time of such Securities Payment, have been made known to the Trustee or, as the case may be, such Holder, then and in such event such Securities Payment shall be paid over and delivered forthwith to the Company. The provisions of this Section shall not apply to any Securities Payment with respect to which Section 1203 would be applicable.

  • 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.

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Guarantor Default means any condition or event that with the giving of notice or lapse of time or both would, unless cured or waived, become a Guarantor Event of Default.

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

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • 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.

  • Servicing Default The meaning assigned in Section 6.01 of the Servicing Agreement.