Event of Statutory Default definition

Event of Statutory Default each Event of Default which also constitutes a default (verzuim) in the fulfilment of the Secured Obligations within the meaning of in Article 6:81 of the Curaçao Civil Code (Burgerlijk Wetboek) (“CCC”);
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Event of Statutory Default each event where the Pledgor is in default ("verzuim"), as defined in Article 6:81 of the NACC, in the performance of one or more of the Secured Obligations,
Sample 1
Event of Statutory Default each event in which the Pledgor or UPC is ----- -- --------- ------- in default ('verzuim'), as defined in Section 6:81 of the Dutch Civil Code, of performing one or more of the Secured Obligations; i. the "Stop Date": the thirtieth day of June nineteen hundred and ---- ---- ninety-nine; j. the "Completion Date": the date of completion of the Agreement in ---------- ---- accordance with clause 8 thereof.
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Examples of Event of Statutory Default in a sentence

  • After a court of law, on the demand of the Pledgee, has established that an Event of Statutory Default has occurred, the Pledgee shall be authorised to sell the Shares or part thereof, in accordance with Section 3:248 of the Dutch Civil Code, without prejudice to the provision of Section 3:251 of the Dutch Civil Code, in order to recover the proceeds thereof.

  • Upon the occurrence of an Event of Statutory Default, the Pledgee shall be authorized to sell the Pledged Assets or part thereof, in accordance with Section 3:248 of the Dutch Civil Code and with Schedule E to the Agreement, without prejudice to the provision of Section 3:251 of the Dutch Civil Code, in order to recover the proceeds thereof.


More Definitions of Event of Statutory Default

Event of Statutory Default. : means each event where the Pledgor is in default ("verzuim"), as defined in Section 6:81 of the Dutch Civil Code, in the performance of one or more of the Secured Obligations;
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Related to Event of Statutory Default

  • 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).

  • 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.

  • 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:

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

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

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

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

  • Servicer Event of Default One or more of the events described in Section 7.01.

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

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

  • Owner Event of Default shall have the meaning set forth in Section 18.3.

  • Issuer Event of Default means the occurrence of any of the following events:

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Event of Insolvency means, for any Person:

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

  • Specified Event of Default means an Event of Default under Section 7.01(a), (b), (h) or (i).

  • Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.

  • Financing Default means an event which would constitute (or with notice or lapse of time or both would constitute) an event of default (which event of default has not been cured) under or would otherwise violate or breach (i) any financing arrangement of the Company or any of its Subsidiaries in effect as of the time of the aforementioned event, and any extensions, renewals, refinancings or refundings thereof in whole or in part; and (ii) any provision of the Company's or any of its Subsidiary's constitutional documents.

  • Master Servicer Event of Default One or more of the events described in Section 7.01.

  • 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.