Material Default means a material breach of this Framework Agreement and/or, breach by the Supplier of any of the following Clauses: Clause 8 (Warranties and Representations), Clause 9 (Prevention of Bribery and Corruption), Clause 13 (Statutory Requirements and Standards), Clause 14 (Non-Discrimination), Clause 15 (Provision of Management Information), Clause 16 (Management Charge), Clause 17 (Records and Audit Access), Clause 22 (Data Protection), Clause 23 (Freedom of Information) and Clause 31 (Transfer & Sub-contracting);
Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p) of this Note.
Servicer Default means an event specified in Section 8.01.
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:
Customer Default has the meaning set out in clause 8.3.
Minor Default means any Event of Default that is not a Major Default.
Contractor Default shall have the meaning set forth in Clause 23.1;
Senior Default means any Default or Event of Default under the Senior Credit Agreement or any document referred to therein.
material hoist means a hoist used to lower or raise material and equipment, excluding passengers; "medical certificate of fitness" means a certificate contemplated in regulation 7(8);
MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);
Incipient Default means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default.
Potential Default means any event or condition which with notice or passage of time, or both, would constitute an Event of Default.
Purchaser Default has the meaning set forth in Section 11.2(a).
Employer default means having an outstanding balance or liability to the old fund or to the uninsured employers' fund or being in policy default, as defined in W. Va. Code § 23-2c-2, failure to maintain mandatory workers' compensation coverage, or failure to fully meet its obligations as a workers' compensation self-insured employer. An employer is not in employer default if it has entered into a repayment agreement with the Insurance Commissioner and remains in compliance with the obligations under the repayment agreement.
Seller Default has the meaning set forth in Section 11.2.
Material Outside Event shall have the meaning set forth in Section 6.08.
Environmental Management Framework and “EMF” mean the framework of the Borrower for the management of social and environmental aspects of the Project dated April 24, 2007 and disclosed to the public on even date therewith, as may be amended from time to time with the prior approval of the Bank.
Potential Material Event means any of the following: (i) the possession by the Company of material information not ripe for disclosure in the Registration Statement, which shall be evidenced by determinations in good faith by the Board of Directors of the Company that disclosure of such information in the Registration Statement would be detrimental to the business and affairs of the Company, or (ii) any material engagement or activity by the Company which would, in the good faith determination of the Board of Directors of the Company, be adversely affected by disclosure in the Registration Statement at such time, which determination shall be accompanied by a good faith determination by the Board of Directors of the Company that the Registration Statement would be materially misleading absent the inclusion of such information.
Material Event or “Material Information” shall mean such event or information as set out in the Schedule or as may be determined in terms of Clause 3 of the Policy. In the Policy, the words, “material” and “materiality” shall be construed accordingly.
Special Default means (i) the failure by Owner to pay any amount of principal of or interest on any Equipment Note when due or (ii) the occurrence of any Default or Event of Default referred to in Section 5.01(v), (vi) or (vii).
Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.
Buyer Default means an Event of Default of Buyer.
Financial Default means the total cessation or partial suspension of operations due to insolvency, with or without the filing of a bankruptcy petition by a tour operator, Cruise line, or airline.
Material Document Defect As defined in Section 2.03(a) of this Agreement.
Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.
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.