Minor Default definition

Minor Default means any Event of Default that is not a Major Default.

Minor Default means any Event of Default that is not a Major Default or a Fundamental Default.

Minor Default means any Event of Default that is not a Major Default or an Unapproved Restricted Issuance Default.

Examples of Minor Default in a sentence

• If the Event of Default is a Minor Default, the operation of this Agreement shall not take effect unless or until DRLP3 has first sought to commence legal action to enforce payment or performance of the Obligations and any remedy obtained under such action has not satisfied the Obligations of NPS or any judgement obtained pursuant to such action remains unsatisfied by NPS for more than 15 Business Days after the rendering of such judgement (without the necessity of appeal from such judgement).

• Notwithstanding anything to the contrary contained in this Lease, if any Minor Default is not cured at or prior to the cap on Delay Fees being met as to such Minor Default and specific performance is not reasonably available.

• Tenant specifically and expressly acknowledges that damages would not constitute an adequate remedy for any Nonmonetary Default or Minor Default.

• The Contractor shall pay the fines and costs in relation to a Minor Default within a period of thirty (30) days from the determination and notice received by the Government failing which the Government shall be entitled to encash the bank guarantees (whether in part or in full).

• Except for Minor Default Notices, all Notices shall be in writing and addressed to Landlord and Tenant (and their designated copy recipients) as set forth in Schedule 25.

More Definitions of Minor Default

Minor Default means any Event of Default that is not a Major Default. A15. “OID” means an original issue discount.

Minor Default shall have the meaning specified in Article 29.3.

Minor Default means any breach of the Call-Off Contract or the Order Form which may be either a partial breach or a breach not so severe as to warrant a Material Default

Minor Default means any breach of an obligation under this Lease for which the remedies of breach are expressly limited to either a Delay Fee or specific performance or both.

Minor Default means the occurrence of any one or more of the following events to the extent that it is not a Major Default: the failure of NPS to pay any monetary Obligations within five Business Days of the date on which such Obligations are due or payable; the failure of NPS to perform any non-monetary Obligation or covenant under the Security Agreement or the Purchase Agreement and such failure shall continue unremedied for a period of 60 days after written notice thereof; or any breach by NPS of any representation or warranty made by NPS in the Purchase Agreement (for certainty, including without limitation a breach of Section 4.1(a) or 4.4 of the Purchase Agreement if such breach does not result in a Material Adverse Effect;

Minor Default means any Event of Default that is not a Major Default or a Fundamental Default.A25.

Minor Default means any breach of the Framework Agreement, the Call-Off Contract or the Order Form which may be either a partial breach or a breach not so severe as to warrant a Material Default