Final Default definition

Final Default means a situation where the Developer fails to remedy a default within such time as provided in the notice given by the Town, as provided in Section 39 hereof.
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Final Default means a situation where the Developer fails to remedy a default within such time as provided in the notice given by the City.
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Final Default has the meaning provided in Section 5.3.5.
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Examples of Final Default in a sentence

  • For the reasons herein stated, the court grants Plaintiff’s Motion for Final Default Judgment.

  • The consequences of Final Default shall be as specified in this Contract.

  • In the event that a Final Default occurs, then the entire remaining principal balance (inclusive of the Balloon Payment owing) shall be immediately due and payable.

  • As a result of these delays, Parkcrest states that on April 10, 2015 HANO sent a Notice of Final Default and Termination to Parkcrest stating that Parkcrest was in final default of the contract and terminating Parkcrest’s right to complete the project.

  • For the reasons discussed above, the Court GRANTS in part and DENIES in part Plaintiff’s Motion for Final Default Judgment (doc.

  • As a result of these delays, Plaintiff states that on April 10, 2015 Defendant sent a Notice of Final Default and Termination to the Plaintiff stating that the Plaintiff was in final default of the contract and terminating Plaintiff’s right to complete the project.

  • By March 15 following any Final Default under Section 5.4.6 that is subject to this Section 5.4.6.6, any Loan Allottee may voluntarily step up to (1) make all or part of the defaulted payment (including replenishment of the Liquidity Fund), and (2) assume the obligation for all future annual debt service and Operating C&E payments for that portion of a defaulting Loan Allottee’s obligation.

  • In the event the Developer fails to increase the amount of security within seven (7) days of receipt of aforesaid written notice, then the Developer shall be deemed to be in Final Default of the terms and conditions of this Agreement.

  • The Final Default Judgment was entered on February 12, 2004, so the Defendants had until February 22, 2004, to file a notice of appeal.

  • The consequence of [Actual Allottee Name*]’s Final Default under Section 5.3.1.3 shall be as described in Section 5.5 of this Contract.


More Definitions of Final Default

Final Default. Any final and total disappearance by the Depositor without his contractual maintenance and monitoring and/or service and/or operational continuity obligations with respect to the Software covered by this Deposit as defined in the Special Agreement or, otherwise, in this Deposit Agreement, being assumed by a transferee appointed by name within a maximum period of thirty (30) Days from ascertainment of the disappearance of the Depositor by any means and, more generally, any final discontinuance of maintenance and/or continued operation of all or part of the Software covered by this Deposit Agreement, whether at the Depositor’s own initiative or following his court-ordered reorganization or liquidation. A complete or partial withdrawal of the Deposit items (components, versions, special developments, etc.) shall also be considered as a “Final Default” within the meaning of this Deposit Agreement. In the event of total or partial withdrawal of the Deposit items, Logitas shall so inform the Subscribers.
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Final Default. Any final disappearance by the Depositor without his contractual maintenance and monitoring and/or service and/or operational continuity obligations with respect to the Software as defined in the Special Agreement or, otherwise, in this Subscription Agreement, being assumed by a transferee appointed by name within a maximum period of thirty (30) Days from ascertainment of the disappearance of the Depositor by any means and, more generally, any final discontinuance of maintenance and/or continued operation of all or part of the Software, whether at the Depositor’s own initiative or following his court-ordered reorganization or liquidation. A complete or partial withdrawal of the Deposit items (components, versions, special developments, etc.) shall be considered as a “Final Default” within the meaning of this Subscription Agreement. In the event of total or partial withdrawal of the Deposit items, Logitas shall so inform the Subscriber. Temporary Default: Any temporary inability by the Depositor to ensure his contractual maintenance and/or monitoring and/or service and/or operational continuity services with respect to the Software, as defined in the Special Agreement, or otherwise in this Subscription Agreement.
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Final Default has the meaning set forth in Section 25.1(e).
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Final Default means a material and unremedied default of a material provision of this Agreement, which default remains unremedied after written notice specifying such default and expressly indicating Appleton's intention to seek recourse under this Section VII, and which remains unremedied 30 days after such notice.
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Related to Final 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.

  • 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).

  • Potential Default means the occurrence of any event or condition which, with the giving of notice, the passage of time, or both, would constitute an Event of 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);

  • Financial Default means the total cessation or partial suspension of operations due to insolvency, with or without the filing of a bankruptcy petition by a tour operator, Cruise line, or airline.

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

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

  • 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.

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

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

  • Non-Monetary Default Cure Period 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.

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

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

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

  • 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).

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

  • Default means any event which is, or after notice or passage of time or both would be, an Event of Default.

  • Loan Default means any event, condition or failure which, with notice or lapse of time or both, would become a Loan Event of Default.

  • 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.

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

  • Actionable Default means (i) an Event of Default under and as defined by the Credit Facility Agreement or (ii) an event of default under the Public Indenture.

  • 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)).

  • Forbearance Default means any of: (A) the occurrence of any Default or Event of Default other than the Specified Defaults, (B) the failure of Borrower or any other Designated Company to timely and strictly comply with any term, condition, covenant, agreement or other obligation set forth in this Agreement, (C) the failure of any representation or warranty made by Borrower or any other Designated Company under or in connection with this Agreement to be true and complete in all material respects as of the date when made or any other material breach of any such representation or warranty, (D) the taking of any action by Borrower or any other Designated Company to in any way repudiate or assert a defense to any Obligation under the Credit Agreement, this Agreement or any of the other Loan Documents or the assertion of any claim or cause of action against Administrative Agent, Co-Administrative Agent or any Lender relating in any way thereto, (E) the date on which Administrative Agent, in its sole discretion or at the direction of the Required Lenders, delivers to Borrower a written notice terminating the Forbearance Period, which notice may be delivered at any time upon or after the delivery of any Proposed Vendor Payment Schedule Rejection Notice (as defined below) by the Administrative Agent in accordance with Section 3(c)(ii) hereof, or (F) Borrower fails to receive Inventory purchased with a CIA Payment (as defined below) within six (6) Business Days of the making of such CIA Payment. The occurrence of any Forbearance Default shall constitute an immediate Event of Default under the Credit Agreement and other Loan Documents. Upon the termination or expiration of the Forbearance Period, the agreement of Administrative Agent, Co-Administrative Agent and each Lender hereunder to forbear from exercising its default-related rights and remedies shall immediately terminate without the requirement of any demand, presentment, protest, or notice of any kind, all of which Borrower and each other Designated Company hereby waives. Borrower and each other Designated Company further agrees that any of Administrative Agent (upon direction of the Required Lenders to the extent provided in the Credit Agreement) and each Lender may at any time after the expiration or termination of the Forbearance Period proceed to exercise any and all of its rights and remedies under any or all of the Credit Agreement, any other Loan Document and/or applicable law, all of which rights and remedies are hereby fully reserved by Administrative Agent and each Lender. Any agreement by Administrative Agent and the Lenders to extend the Forbearance Period, if any, must be set forth in writing and signed by Administrative Agent and the Lenders. Borrower and each other Designated Company acknowledges that none of Administrative Agent or any Lender has made any assurances concerning any possibility of any extension of the Forbearance Period. Borrower and each other Designated Company acknowledges and agrees that any Loan or other financial accommodation which Administrative Agent, Co-Administrative Agent or any Lender makes to or for the benefit of Borrower or any other Designated Company on or after the Forbearance Effective Date has been made by such party in reliance upon, and is consideration for, among other things, the general releases and indemnities contained in Section 5 hereof and the other covenants, agreements, representations and warranties of Borrower and each other Designated Company hereunder.