Loan Default definition

Loan Default means an event, which with the giving of notice or lapse of time or both, would become a Loan Event of Default.

Loan Default means an event of default or default or event or condition which, with respect to Developer or its Finance Affiliate without further notice or passage of time, would entitle a mortgagee to exercise the right to foreclose upon, acquire, possess or obtain the appointment of a receiver or other similar trustee or officer over all or a part of Developer's interest in the Development.

Loan Default means the occurrence of one or more of the following events with respect to any Loan: (i) a Loan Payment Default, (ii) the bankruptcy or insolvency of the Borrower or any Guarantor of such Loan, or the appointment of a receiver, trustee, custodian or similar fiduciary for such Borrower or Guarantor, or the assignment for the benefit of creditors by such Borrower or Guarantor, or the offering of settlement or composition to the unsecured creditors of such Borrower or Guarantor generally or (iii) the termination of (or failure to renew) the Franchise Agreement to which the Borrower of such Loan is a party.

Examples of Loan Default in a sentence

• CONTRACTOR certifies that it is not barred from being awarded a contract under the Educational Loan Default Act (5 ILCS 385).

• Section 3 of the Educational Loan Default Act prohibits an individual from entering into a contract with the Treasurer’s Office if that individual is in default of an educational loan.

• Section 3 of the Educational Loan Default Act, 5 ILCS 385/3 Pursuant to the Educational Loan Default Act, no State agency shall contract with an individual for goods or services if that individual is in default on an educational loan.

• Section 3 of the Educational Loan Default Act provides no State agency shall contract with an individual for goods or services if that individual is in default, as defined in Section 2 of this Act, on an educational loan.

• Borrower shall promptly advise Lender of any material Default or Event of Default of which Borrower has knowledge, including any Mortgage Loan Default, Senior Mezzanine Loan Default, Senior Mezzanine Loan Event of Default or Mortgage Loan Event of Default.

More Definitions of Loan Default

Loan Default means failure to make a loan repay- ment to the department within sixty days after the payment was due.

Loan Default means an occurrence with respect to a Loan which is defined by the applicable Loan Documents to be an event of default (including but not limited to a Loan Payment Default).

Loan Default means a loan guaranteed by the UST fund for which the loan payment(s) is delinquent 90 days or more.

Loan Default means failure to make a loan repayment to the department within sixty days after the payment was due.

Loan Default means failure to make a loan repayment within sixty days after the payment was

Loan Default. The breach for which Lender intends to foreclose its ------------ Lien.

Loan Default. If we do not receive a loan payment when it is due, the defaulted payment is treated as follows: