Maturity Default definition

Maturity Default. RATE" shall be the greater of (a) the Interest Rate plus 2% per annum or (b) the Treasury Rate plus 2.80% per annum.
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Maturity Default means, with respect to any loan, the failure of the Company to pay, upon the maturity of such loan, all amounts due and payable thereunder.
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Maturity Default shall have the meaning set forth in Section 6(a) of this Determination of Preferred Stock.
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Examples of Maturity Default in a sentence

  • For the purpose of calculating the Maturity Default Conversion Price only, any time after 4:00 pm Eastern Time (the closing time of the Principal Market) shall be considered to be the beginning of the next Business Day.

  • At any time and from time to time after a default occurs solely due to the fact the Note is not retired on or before the Maturity Date (“Maturity Default”), subject to the terms hereof and restrictions and limitations contained herein, the Holder shall have the right, at the Holder's sole option, to convert in whole or in part the outstanding and unpaid Principal Amount under this Note into shares of Common Stock at the Maturity Default Conversion Price.

  • At any time and from time to time after a default occurs solely due to the fact the Note is not retired on or before the Maturity Date (“Maturity Default”), subject to the terms hereof and restrictions and limitations contained herein, the Holder shall have the right, at the Holder’s sole option, to convert in whole or in part the outstanding and unpaid Principal Amount under this Note into shares of Common Stock at the Maturity Default Conversion Price.

  • At any time and from time to time after a default occurs solely due to the fact the Note is not retired on or before the Maturity Date ("Maturity Default"), subject to the terms hereof and restrictions and limitations contained herein, the Holder shall have the right, at the Holder's sole option, to convert in whole or in part the outstanding and unpaid Principal Amount under this Note into shares of Common Stock at the Maturity Default Conversion Price.

  • The "Maturity Default Conversion Price" shall be equal to the lower of: (a) the Conversion Price or (b) 75% of the average of the volume weighted average prices of the Company's common stock during the 5 consecutive Trading Days prior to the date on which the Holder elects to convert all or part of the Note.

  • For the avoidance of doubt, failure by the Company to pay the Holder the (i) outstanding principal amount of the Note, accrued but unpaid interest and other amounts owing to the Holder in cash or shares of Common Stock at the Conversion Price and (ii) the OID Payment within ninety (90) days of the occurrence of a Maturity Default shall constitute an Event of Default under Section 6(a) hereof.

  • Upon the occurrence of a Maturity Default, the Holder may continue to convert the Note at the Conversion Price until any amounts owing to the Holder under the Note are fully paid.

  • Upon the occurrence of a Maturity Default, at the option of the Company, the Company may pay the outstanding principal amount of the Note, accrued but unpaid interest and other amounts owing to the Holder in cash, or if the closing price of a share of the Company’s Common Stock on its Trading Market on the Trading Day prior to the date of determination is at least the Conversion Price then in effect (“Market Price”), in shares of Common Stock at the Conversion Price.

  • In addition, upon the occurrence of a Maturity Default, the Company shall pay the Holder an additional twenty percent (20%) original issue discount on the purchase price of the Note by increasing the original principal amount of the Note, which shall be payable, at the option of the Company, in cash or if the Market Price is at least the Conversion Price then in effect, in shares of Common Stock at the Conversion Price (the “OID Payment”).

  • Solyely for purposes of Section 17 of all Warrants issued by the Company where the initial Exercise Date is subsequent to the Issuance Date, a Maturity Default shall be considered an Event of Default; provided, however, that otherwise a Maturity Default shall not be considered an Event of Default until the provisions of subsection a) (xvii) of this Section 6 are met.


More Definitions of Maturity Default

Maturity Default. A Fee Owner Event of Default under the Underlying Mortgage Loan caused solely by Fee Owner’s failure to pay all sums under the Underlying Mortgage Loan Documents which are payable on the stated “Maturity Date” thereunder which, for the purposes of clarification, shall include a Maturity Date established by declaration of acceleration.
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Maturity Default has the meaning given in Recital H.
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Maturity Default means, with respect to the Senior Loan and each Junior Loan, an Event of Default (as defined therein) under such Senior Loan or Junior Loan, as applicable, resulting from the occurrence of the Maturity Date thereunder without such Senior Loan or Junior Loan, as applicable, being repaid in full in cash by the applicable Borrower or Junior Borrower.
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Related to Maturity Default

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

  • Bankruptcy Default has the meaning assigned to such term in Section 6.01.

  • Authority Default shall have the meaning set forth in Clause 23.2;

  • 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).

  • 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.

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

  • Credit Default Swap means any credit default swap entered into as a means to (i) invest in bonds, notes, loans, debentures or securities on a leveraged basis or (ii) hedge the default risk of bonds, notes, loans, debentures or securities.

  • 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.

  • 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.

  • Lease Default means any event or condition which, with the lapse of time or the giving of notice, or both, would constitute a Lease Event of Default.

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

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

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

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

  • Financing Default means an event which would constitute (or with notice or lapse of time or both would constitute) an event of default (which event of default has not been cured) under or would otherwise violate or breach (i) any financing arrangement of the Company or any of its Subsidiaries in effect as of the time of the aforementioned event, and any extensions, renewals, refinancings or refundings thereof in whole or in part; and (ii) any provision of the Company's or any of its Subsidiary's constitutional documents.

  • Forbearance Default means (A) the occurrence of any Default (as defined in the GE Loan Agreement) or any Event of Default (as defined in the TCFC Loan Agreement) other than the Specified Defaults, (B) the failure of any Borrower or any other Loan Party to comply timely with any term, condition, or covenant set forth in this Agreement, (C) the failure of any representation or warranty made by any Borrower or any other Loan Party under or in connection with this Agreement to be true and complete in all material respects as of the date when made or any other breach of any such representation or warranty in any material respect, (D) any occurrence, event or change in facts or circumstances occurring on or after the Effective Date that would have a Material Adverse Change (as defined in either Loan Agreement) on any Borrower or any other Loan Party or any of their respective financial conditions, businesses, prospects or assets, (E) (I) any breach by Travis or any other Loan Party of any provision of the Merxxx Xgreement or any other agreement, instrument or document executed in connection therewith, (II) any failure by Travis or TRMC to satisfy any condition precedent to txx xxxectiveness of the Merger Agreement or any other agreement, instrument or document executed in connection therewith, (III) any termination or purported termination by any party thereto of the Merger Agreement, or (IV) any other failure of the Merger Agreement to remain in full force and effect at any time, (F) any breach by Tracker of any of the provisions of that certain letter agreement dated on or about the date hereof between Tracker and Lender (the "Tracker Letter Agreement"), including, without limitation, any failure by Tracker to fund any working capital shortfall of Travis pursuant to Section 7 of the Tracker Letter Agreement, ox (X) any determination made by Lender in its sole discretion at any time that Lender, Travis and Tracker (or its affiliate, TMRC) have failed or arx xxxble to reach agreement on the terms for restructuring the credit facilities under the Loan Documents or on any other matters referenced in Section 6.03(g) of the Merger Agreement. Any Forbearance Default shall constitute an immediate Default under the GE Loan Agreement and an immediate Event of Default under the TCFC Loan Agreement.

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

  • 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.

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

  • Monetary Default Notice shall have the meaning assigned to such term in Section 11(a).

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

  • Specified Default means a Default under Section 8.01(a), (f) or (g).

  • Funding Default as defined in Section 2.22.

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

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

  • Servicing Default The meaning assigned in Section 6.01 of the Servicing Agreement.