Guarantor Payment Default definition

Guarantor Payment Default has the meaning specified in Section 15.03 of this Indenture.
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Guarantor Payment Default has the meaning provided in Section 11.10(a).
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Guarantor Payment Default means any default in the payment of principal of (or premium, if any, on) or interest on, or any other amount due in respect of, Designated Guarantor Senior Indebtedness beyond any applicable grace period with respect thereto.
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Examples of Guarantor Payment Default in a sentence

  • A Subsidiary Guarantor may pay its Subsidiary Guarantee, after such Guarantor Payment Blockage Period ends, unless the holders of such Designated Senior Indebtedness have or the Representative of such holders has accelerated the maturity of such Designated Senior Indebtedness, or any Guarantor Payment Default otherwise exists.

  • A Note Guarantor may pay its Note Guarantee, after such Guarantor Payment Blockage Period ends, unless the holders of such Designated Senior Indebtedness or the Representative of such holders have accelerated the maturity of such Designated Senior Indebtedness, or any Guarantor Payment Default otherwise exists.

  • A Subsidiary Guarantor shall promptly pay its Subsidiary Guarantee, after such Subsidiary Guarantor Payment Blockage Period ends, unless the holders of such Designated Guarantor Senior Indebtedness or the Representative of such holders have accelerated the maturity of such Designated Guarantor Senior Indebtedness, or any Subsidiary Guarantor Payment Default otherwise exists.

  • Notwithstanding the foregoing, the Designated Guarantors are permitted to pay on the Guarantees of the Notes if the Designated Guarantors and the Trustee receive written notice approving such payment from the Representative of such Designated Senior Indebtedness with respect to which the Designated Guarantor Payment Default has occurred and is continuing.

  • A Subsidiary Guarantor shall promptly resume payment under its Subsidiary Guarantee, after such Guarantor Payment Blockage Period ends, unless the holders of such Designated Senior Indebtedness have or the Representative of such holders has accelerated the maturity of such Designated Senior Indebtedness, or any Guarantor Payment Default otherwise exists.

  • Senior Indebtedness or a Guarantor Payment Default has occurred and is continuing, the relevant Guarantor shall be entitled to resume paying its Guarantee after the end of such Guarantee Payment Blockage Period.

  • A Guarantor may pay its Parent Guarantee or Note Guarantee, after such Guarantor Payment Blockage Period ends, unless the holders of such Guarantor Designated Senior Indebtedness or the Representative of such holders have accelerated the maturity of such Guarantor Designated Senior Indebtedness, or any Guarantor Payment Default otherwise exists.

  • Subsidiary Guarantor Payment Default"..........................................

  • Regardless of the foregoing, such Guarantor is permitted to pay its Guarantee if such Guarantor and the Trustee receive written notice approving such payment from the Representatives of all Designated Senior Indebtedness with respect to which the Guarantor Payment Default has occurred and is continuing.

  • A Note Guarantor may pay its Note Guarantee, after such Guarantor Payment Blockage Period ends, unless the holders of such Guarantor Designated Senior Indebtedness or the Representative of such holders have accelerated the maturity of such Guarantor Designated Senior Indebtedness, or any Guarantor Payment Default otherwise exists.


More Definitions of Guarantor Payment Default

Guarantor Payment Default as defined in Section 3.3(a).
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Guarantor Payment Default has the meaning set forth in Section 12.02.
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Guarantor Payment Default shall have the meaning set forth in Section 4.2(a) hereof.
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Related to Guarantor Payment Default

  • Senior Payment Default means any default in the payment of principal of (or premium, if any) or interest on any Senior Debt of the Company when due, whether at the Stated Maturity of any such payment or by declaration of acceleration, call for redemption or otherwise. In the event that any Senior Nonmonetary Default (as defined below) shall have occurred and be continuing, then, upon the receipt by the Company, the Subsidiary Guarantors and the Trustee of written notice of such Senior Nonmonetary Default from the agent for the Designated Senior Debt which is the subject of such Senior Nonmonetary Default, no Securities Payment shall be made during the period (the “Payment Blockage Period”) commencing on the date of such receipt of such written notice and ending on the earlier of (i) the date on which such Senior Nonmonetary Default shall have been cured or waived or shall have ceased to exist or all Designated Senior Debt the subject of such Senior Nonmonetary Default shall have been discharged; (ii) the 179th day after the date of such receipt of such written notice; or (iii) the date on which the Payment Blockage Period shall have been terminated by written notice to the Company, any Subsidiary Guarantor or the Trustee from the agent for the Designated Senior Debt initiating the Payment Blockage Period; provided, however, that nothing in this Section shall prevent the satisfaction of any sinking fund payment in accordance with Article Sixteen by delivering and crediting pursuant to Section 1602 Securities which have been acquired (upon redemption or otherwise) prior to the date of such receipt of such written notice. No more than one Payment Blockage Period may be commenced with respect to the Securities of a particular series during any 360-day period and there shall be a period of at least 181 consecutive days in each 360-day period when no Payment Blockage Period is in effect. For all purposes of this paragraph, no Senior Nonmonetary Default that existed or was continuing on the date of commencement of any Payment Blockage Period shall be, or be made, the basis for the commencement of a subsequent Payment Blockage Period, whether or not within a period of 360 consecutive days, unless such Senior Nonmonetary Default shall have been cured for a period of not less than 90 consecutive days.

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

  • Payment Default has the meaning set forth in Section 5.4(a) of the Indenture.

  • 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.

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

  • Guarantor Payment Date means (a) prior to the delivery of a Guarantor Default Notice, the date falling on the 10th day of February, May, August and November of each year or, if such day is not a Business Day, the immediately following Business Day, provided that the fist Guarantor Payment Date will be 10 February 2014; and (b) following the delivery of a Guarantor Default Notice, any day on which any payment is required to be made by the Representative of the Covered Bondholders in accordance with the Post-Enforcement Priority of Payments, the relevant Final Terms and the Intercreditor Agreement.

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

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

  • 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.

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

  • Guarantor Payment as defined in Section 5.11.3.

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

  • 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).

  • 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.

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

  • 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.

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

  • Senior Event of Default means an Event of Default under the Senior Loan Documents.

  • Debenture Event of Default means an "Event of Default" as defined in the Indenture.

  • 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)).

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

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

  • Indenture Event of Default means an "Event of Default" as defined in the Indenture.

  • Event of Default has the meaning specified in Section 8.01.

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

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