Interest Payment Default means any interest payment when due on the Interest Payment Date therefor shall fail to be made and such failure shall continue for at least 365 consecutive days after such Interest Payment Date; provided, however that no Interest Payment Default shall be deemed to have occurred hereunder if, within 10 days after the end of such 365-day period, the Noteholder shall have received all interest accrued (including, without limitation, interest accruing pursuant to Clause 15.1) from such Interest Payment Date to the date the interest payment is made;

Interest Payment Default shall exist if the Company fails to make a payment when the same shall become due pursuant to Section 2.2 hereof and such failure continues for seven Business Days after the Noteholder has provided the Company with notice, in accordance with Section 6.2 hereof, of such failure. In the event of an Interest Payment Default the remedies of the Noteholder shall be as provided in the Collaboration Agreement.

Interest Payment Default means, with respect to any Protected Asset, any failure by the Borrower thereunder to make all or a portion of any scheduled payment of interest (excluding any Additional Interest on such Protected Asset) due with respect to such Protected Asset pursuant to the terms of the Existing Loan Documents for such Protected Asset beyond any applicable notice or grace period, including any Interest Payment Default pursuant to Section 2.4.1(b).

Examples of Interest Payment Default in a sentence

Under the Term Lender Forbearance Agreement, the Prepetition Term Lenders party thereto agreed to forbear from exercising their rights and remedies under the Prepetition Credit Agreement with respect to the Going Concern Default, the Interest Payment Default and/or the Financial Covenant Default.
On May 1, 2019, the Debtors obtained a forbearance (as amended on May 7, 2019, May 10, 2019, May 15, 2019, and May 17, 2019) from certain holders of Prepetition Notes with respect to the Interest Payment Default.
On June 14, 2019, Monitronics and its subsidiaries entered into a forbearance and limited waiver (the “ Forbearance and Limited Waiver”), with certain of the PrepetitionLenders, in each case, with respect to (a) the Going Concern Default, (b) the Interest Payment Default and (c) the Financial Covenant Default.
On October 1, 2008, Inn satisfied the payment of interest, thus curing the Interest Payment Default.
Lender hereby instructs Borrower to deliver to Lender, on or prior to October 13, 2010, the sum of $6,229.10 with28 respect to the Interest Payment Default.

More Definitions of Interest Payment Default

Interest Payment Default has the meaning ascribed to it in Recital B.

Interest Payment Default as expressly set forth in the Short-Term Waiver: failure by the Borrowers to make the interest payment due under the Credit Agreement on October 10, 2023, that resulted in an Event of Default under Section 8.01(a)(ii) of the Credit Agreement.

Interest Payment Default means a default in the payment of interest when due and payable on any of the Securities which would constitute an Event of Default if such payment were not made within the applicable cure or grace period pursuant to Section 6.01(1).

Interest Payment Default means a default in the payment of (1) any interest payment upon Note B-1 issued in connection with the Credit Agreement, dated December 28, 2017, by and between Amyris and DSM Finance BV (and any other notes payable that may be issued under such agreement from time to time after the date hereof) or (2) any interest payment upon any note payable issued in connection with the Credit Agreement, dated September 17, 2019, by and between Amyris and DSM Finance BV, in each case, when such interest becomes due and payable.

Interest Payment Default means any interest payment when due on the Interest Payment Date therefor shall fail to be made and such failure shall continue for at least 365 consecutive days after such Interest Payment Date; provided, however that not Interest Payment Default shall be deemed to have occurred hereunder if, within 10 days after the end of such 365-day period, the Bank shall have received all interest accrued (including, without limitation, interest accruing pursuant to Clause 15.1 of the Notes) from such Interest Payment Date to the date the interest payment is made;

Interest Payment Default shall have the meaning ascribed to such term in the Recitals hereof.

Interest Payment Default means (a) with respect to a Security called for Redemption, in the case that the applicable Redemption Date is also an interest payment date, a Default in the payment of the accrued and unpaid Interest, if any, to, but excluding the Redemption Date to the Holder(s) of record of such Security as of the close of business on the record date for such interest payment, and (b) with respect to a Security subject to repurchase at Holder’s Option Upon a Change of Control, in the case that the applicable Repurchase Date is also an interest payment date, a Default in the payment of the accrued and unpaid Interest, if any, to, but excluding the Repurchase Date to the Holder(s) of record of such Security as of the close of business on the record date for such interest payment.