Issuer Default definition

Issuer Default. Any occurrence which is, or with notice or the lapse of time or both would become, an Issuer Event of Default.
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Issuer Default means any of the following events: (w) if an Act of Bankruptcy (as defined in a Related Indenture) shall have occurred; (x) if any provision of any Transaction Document applicable to any Issuer or the lien and security interest purported to be created by any Issuer under any Transaction Document shall at any time for any reason cease to be valid and binding in accordance with its terms on such Issuer or shall be declared to be null and void, or if any Issuer shall deny that it has any further liability or obligation thereunder; (y) if any Issuer shall have asserted that it has no liability or obligations under any Transaction Document to which it is a party or if any Governmental Authority having jurisdiction over any Issuer shall find or rule that any material provision of any Transaction Document to which such Issuer is a party is not valid and binding on such Issuer; or (z) if any Issuer shall otherwise fail to comply with the terms and conditions of any Transaction Document to which such Issuer is a party and such failure to comply results in Fannie Mae having the right to declare an Event of Default under this Agreement or any other Transaction Document.
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Issuer Default has the meaning specified in Section 17.1. “ISTs” has the meaning specified in Section 5.1(a).
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Examples of Issuer Default in a sentence

  • Our Long-Term Foreign-Currency Issuer Default Rating (“IDR”) and senior unsecured rating are BBB+ according to Fitch.

  • Issuer Default Risk: In the event that a structured product issuer becomes insolvent and defaults on their listed securities, the Customer will be considered an unsecured creditor and will have no preferential claim to any assets held by the issuer.

  • Obligations under the Covered Bonds The Covered Bonds will not represent an obligation or be the responsibility of any of the Arrangers, the Dealers, the Representative of the Bondholders or any other party to the Programme, their officers, members, directors, employees, security holders or incorporators, other than the Issuer and, after the service by the Representative of the Bondholders of an Issuer Default Notice or, if earlier, a Guarantor Default Notice, the Guarantor.

  • Upon any such waiver, such Issuer Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Issuer Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture.

  • The ratings provided are S&P’s Long-Term Local Issuer Credit Rating, Moody’s Long-Term Senior Unsecured Rating, and Fitch’s Long-Term Issuer Default Rating.

  • The Guarantor has no obligation to pay the Guaranteed Amounts payable under the Guarantee until the occurrence of an Issuer Event of Default, service by the Representative of the Bondholders on the Issuer and on the Guarantor of an Issuer Default Notice or, if earlier, following the occurrence of a Guarantor Event of Default and service by the Representative of the Bondholders of a Guarantor Default Notice.

  • In this case, the rating does not opine on default risk but reflects the recovery expectation only.Description of Fitch Ratings’ Issuer Default Ratings:Rated entities in a number of sectors, including financial and non-financial corporations, sovereigns, insurance companies and certain sectors within public finance, are generally assigned Issuer Default Ratings (IDRs).

  • Long-term credit ratings are used as a benchmark measure of probability of default and are formally described as an Issuer Default Rating.

  • In addition, the Trustee may, without the consent of the Noteholders or any other Secured Creditor concur with the Issuer or any other relevant parties in authorising or waiving any proposed breach or breach of the covenants or provisions contained in the relevant Transaction Documents or the Notes (including an Issuer Default) if, in the opinion of the Trustee, the holders of the Most Senior Class of Notes will not be materially prejudiced by such waiver.

  • Where this Indenture provides for notice to the Rating Agencies that have assigned a rating to any Class of a Series, failure to give such notice shall not affect any other rights or obligations created hereunder, and shall not under any circumstance constitute an Issuer Default with respect to such Series.


More Definitions of Issuer Default

Issuer Default means that (i) (x) the Issuer, Units Issuer or any of Issuer’s other Subsidiaries fails to make any payment (whether of principal or interest and regardless of amount) in respect of any Indebtedness of such party in a principal amount in excess of the Issuer Default Threshold, when and as the same shall become due and payable, and (y) any event or condition occurs that results in any Indebtedness of the Issuer, Units Issuer or any of Issuer’s other Subsidiaries in a principal amount in excess of the Issuer Default Threshold becoming due prior to its scheduled maturity, or requiring the prepayment, repurchase, redemption or defeasance thereof prior to its scheduled maturity; provided that this clause (i) shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness; or (ii) there occurs under any Swap Contract to which the Issuer, Units Issuer or any of Issuer’s other Subsidiaries is a party an early termination date (howsoever defined in such Swap Contract) resulting from any event of default (howsoever defined in such Swap Contract) under such Swap Contract as to which the Issuer, Units Issuer or any of Issuer’s other Subsidiaries is the defaulting party (howsoever defined in such Swap Contract) or any termination event (howsoever defined in such Swap Contract) under such Swap Contract as to which the Issuer, Units Issuer or any of Issuer’s other Subsidiaries is an affected party (however defined in such Swap Contract) and in either event the Swap Termination Value owed by the Issuer, Units Issuer or any of Issuer’s other Subsidiaries as a result thereof is greater than the Issuer Default Threshold;
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Issuer Default shall have the meaning given that term in section 7.2(c).
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Issuer Default means, in the case of Rated Notes only, that all transactions under the Swap Agreement are terminated by reason of the occurrence of an event described in Section 5(a) or 5(b) of the ISDA Master Agreement in respect of the Issuer in respect of which the Issuer is the Defaulting Party or sole Affected Party (as such terms are defined in the Swap Agreement).
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Issuer Default means any of the following events:
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Related to Issuer Default

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

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

  • Servicer Event of Default One or more of the events described in Section 7.01.

  • 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.

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

  • Master Servicer Event of Default One or more of the events described in Section 7.01.

  • 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).

  • 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.

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

  • Indenture Default means, with respect to any Indenture, any Event of Default (as such term is defined in such Indenture) thereunder.

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

  • Unmatured Event of Default means any event that, if it continues uncured, will, with lapse of time, notice or lapse of time and notice, constitute an Event of Default.

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • 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.

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

  • Servicer Default means an event specified in Section 8.01.

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

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

  • Lender Default means (a) the refusal or failure (which has not been cured) of a Lender to make available its portion of any Borrowing or to fund its portion of any Unpaid Drawing under Section 3.4 that it is required to make hereunder, (b) a Lender having notified the Administrative Agent and/or the Borrower that it does not intend to comply with its funding obligations under this Agreement or has made a public statement to that effect with respect to its funding obligations under this Agreement, (c) a Lender has failed to confirm (within one Business Day after a request for such confirmation is received by such Lender) in a manner reasonably satisfactory to the Administrative Agent, the Borrower and, in the case of a Revolving Credit Lender, each Revolving Letter of Credit Issuer that it will comply with its funding obligations under this Agreement, (d) a Lender being deemed insolvent or becoming the subject of a bankruptcy or insolvency proceeding or has admitted in writing that it is insolvent; provided that a Lender Default shall not be deemed to have occurred solely by virtue of the ownership or acquisition of any Stock in the applicable Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide the applicable Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit the applicable Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with the applicable Lender, or (e) a Lender that has, or has a direct or indirect parent company that has, become the subject of a Bail-In Action.

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

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

  • Event of Default Under the Trust Indenture With respect to any MBS, any “Event of Default” under the Trust Indenture pursuant to which such MBS was issued. Xxxxxx Xxx: Federal National Mortgage Association, a body corporate organized and existing under the laws of the United States, or its successor in interest or any successor appointed as herein provided. Unless the context requires otherwise, the term “Xxxxxx Mae” shall be deemed to refer to the Federal National Mortgage Association acting in its corporate capacity and not in its capacity as Trustee hereunder.

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

  • Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

  • Potential Issuer Event of Default means any condition, event or act which, with the lapse of time and/or the issue, making or giving of any notice, certification, declaration, demand, determination and/or request and/or the taking of any similar action and/or the fulfilment of any similar condition, would constitute an Issuer Event of Default;

  • 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).