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.

  • 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.

  • 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.

  • 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.

  • On August 29, 2007, the Court granted a motion of an extension of time until October 4, 2007 for the Company to serve its opposition to the Receiver’s motion to enforce Settlement Agreement and for entry of Final Default Judgment.

  • The consequence of [Actual Allottee Name*]’s Final Default under Section 5.3.1.1 shall be as described in Section 5.4 of this Contract.

  • 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.


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 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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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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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 any event or condition which with notice or 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 incurrence of Loans (including pursuant to a Mandatory Borrowing) or to fund its portion of any unreimbursed payment under Section 2.05(c) or (ii) a Bank having notified the Administrative Agent and/or the Borrower that it does not intend to comply with its obligations under Section 1.01 or under Section 2.05(c).

  • 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 any failure to pay within 10 Business Days of the due date thereof: (i) the outstanding Pool Balance on the Final Legal Distribution Date or (ii) interest due on the Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or Drawings (as defined in the Intercreditor Agreement), or a withdrawal or withdrawals pursuant to Section 3.6(f) of the Intercreditor Agreement, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee).

  • Senior Default means any Default or Event of Default under the Senior Credit Agreement or any document referred to therein.

  • Default means any event that is, or with the passage of time or the giving of notice or both would be, an Event of Default.

  • Loan Default means an event, which with the giving of 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 (A) the occurrence of any Default (as defined in the GE Loan Agreement) or any Event of Default (as defined in the TCFC Loan Agreement) other than the Specified Defaults, (B) the failure of any Borrower or any other Loan Party to comply timely with any term, condition, or covenant set forth in this Agreement, (C) the failure of any representation or warranty made by any Borrower or any other Loan Party 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 breach of any such representation or warranty in any material respect, (D) any occurrence, event or change in facts or circumstances occurring on or after the Effective Date that would have a Material Adverse Change (as defined in either Loan Agreement) on any Borrower or any other Loan Party or any of their respective financial conditions, businesses, prospects or assets, (E) (I) any breach by Travis or any other Loan Party of any provision of the Merxxx Xgreement or any other agreement, instrument or document executed in connection therewith, (II) any failure by Travis or TRMC to satisfy any condition precedent to txx xxxectiveness of the Merger Agreement or any other agreement, instrument or document executed in connection therewith, (III) any termination or purported termination by any party thereto of the Merger Agreement, or (IV) any other failure of the Merger Agreement to remain in full force and effect at any time, (F) any breach by Tracker of any of the provisions of that certain letter agreement dated on or about the date hereof between Tracker and Lender (the "Tracker Letter Agreement"), including, without limitation, any failure by Tracker to fund any working capital shortfall of Travis pursuant to Section 7 of the Tracker Letter Agreement, ox (X) any determination made by Lender in its sole discretion at any time that Lender, Travis and Tracker (or its affiliate, TMRC) have failed or arx xxxble to reach agreement on the terms for restructuring the credit facilities under the Loan Documents or on any other matters referenced in Section 6.03(g) of the Merger Agreement. Any Forbearance Default shall constitute an immediate Default under the GE Loan Agreement and an immediate Event of Default under the TCFC Loan Agreement.