Fundamental Default definition

Fundamental Default means that Borrower either fails to pay the entire Outstanding Balance to Lender on or before the Maturity Date or fails to pay the Mandatory Default Amount within three (3) Trading Days of the date Lender delivers any notice of acceleration to Borrower pursuant to Section 4.2 of this Note.

Fundamental Default means any of a Fundamental (A) Default or a Fundamental (B) Default; Fundamental (A) Default means the occurrence of any of the following:

Fundamental Default means that Borrower either fails to pay the entire Outstanding Balance to Lender on or before the Maturity Date or fails to pay the Mandatory Default Amount within three (3) Trading Days of the date Lender delivers any notice of acceleration to Borrower pursuant to Section 13.2 of this Note.

Examples of Fundamental Default in a sentence

• This Section 3.5 shall terminate and be of no further force or effect upon the occurrence of a Fundamental Default.

• For avoidance of doubt, notwithstanding Buyer’s purchases of Sternal Products or Managed Versions from any secondary source, Seller shall remain subject to Section 2.2 in all respects if, prior to such purchases, Seller committed a Fundamental Default.

• All restrictions upon and obligations of Buyer under this Section 2.3 shall terminate and be of no further force or effect upon the occurrence of a Fundamental Default.

• Upon Seller’s receipt of Buyer’s Notice of placing its first such purchase order with the secondary source, and provided that Seller shall not have theretofore committed any Fundamental Default, the restrictions in Section 2.2 shall be deemed waived by Buyer without the requirement of any further Notice; provided, however, that Buyer shall remain subject to Section 3.5 of this CMA and Seller shall remain subject to Section 6.07 of the Asset Purchase Agreement.

More Definitions of Fundamental Default

Fundamental Default means (i) that fewer than [****] of the Products ordered for shipment hereunder over any [****] period are delivered by Seller on time, (ii) Seller breaches Section 2.5, (iii) Seller commits an intentional breach of this Agreement, or (iv) Seller otherwise materially breaches this CMA or the Quality Agreement and (x) fails to cure such breach within [****] after written notice from Buyer or (y) repeats such breach [****]. NOTE: PORTIONS OF THIS EXHIBIT INDICATED BY [****] ARE SUBJECT TO A CONFIDENTIAL TREATMENT REQUEST, AND HAVE BEEN OMITTED FROM THIS EXHIBIT. COMPLETE, UNREDACTED COPIES OF THIS EXHIBIT HAVE BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION AS PART OF THIS COMPANY’S CONFIDENTIAL TREATMENT REQUEST.

Fundamental Default means either a Class A Fundamental Default or a Class B Fundamental Default.

Fundamental Default means either a Fundamental (A) Default or a Fundamental (B) Default; Fundamental DP Default has the meaning attributed to it in Part 3 of Schedule 4 (Delivery Partner Conditions); Fundamental Termination Amount means the amount calculated by deducting the aggregated amount of all Allocated Grant Funding attributed to Firm Schemes pursuant to paragraph 3 of Part 2 of Schedule 4 (Profiling Conditions) from the amount of all Allocated Grant Funding paid to the Grant Recipient pursuant to clause 4.3.2 (Mechanics and payment of Allocated Grant Funding);

Fundamental Default means (i) that fewer than 85% of the Products ordered for shipment pursuant to accepted Purchase Orders hereunder over any ninety (90) contiguous day period are delivered by OEM on–time (per Section 4.02), (ii) OEM commits an intentional breach of this Agreement, or (iii) OEM otherwise materially breaches this Agreement or the Quality Agreement and (x) fails to cure such breach within thirty (30) days after written notice from RTI or (y) repeats such material breach twice within one hundred eighty (180) days.

Fundamental Default means an Event of Default specified in Section 7.01(a), (b) or (f) (solely with respect to any Note Party).

Fundamental Default means and be limited to an Event of Default specified in Section 8.1.4 or Section 8.1.5 below.

Fundamental Default means either a Fundamental (A) Default or a Fundamental (B) Default; Fundamental DP Default has the meaning attributed to it in Part 3 of Schedule 4 (Delivery Partner Conditions);