Noncompliance Period definition

Noncompliance Period in Section 1.5 of the First Loan Modification Agreement is hereby amended in its entirety to read as follows:
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Noncompliance Period means the period commencing on May 7, 2001 and ending on June 29, 2001.
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Noncompliance Period shall have the meaning ascribed to it in Section 12(c).
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Examples of Noncompliance Period in a sentence

  • If an Event of Noncompliance occurs, then, from and after the occurrence of the Event of Noncompliance and until such time as no Event of Noncompliance exists (such period, the “ Noncompliance Period”), the Series A Preferred Shares shall accrue dividends at the dividend rate described in Section 4(a) (as if the entire Noncompliance Period were after the Date of Issuance and prior to the fifth anniversary of the Date of Issuance) plus an increment of one (1) percentage point.

  • On each day during an Asset Coverage Noncompliance Period, the New Secured Notes will bear interest at a rate 0.50% per annum higher than the applicable interest rate set forth in (i) and (ii) above.

  • During an Asset Coverage Noncompliance Period, the Loans shall bear interest at a rate 0.50% per annum higher than the applicable interest rate set forth in Section 2.1(d).

  • The interest rate of such New Secured Notes shall be retroactively increased by an additional 1.50% per annum during the period in which an Asset Coverage Noncompliance Period exists if a Default or Event of Default in relation a financial covenant under the New Secured Note Indenture has occurred with respect to the Fiscal Quarter immediately following the commencement of the applicable Asset Coverage Noncompliance Period.

  • In addition, the interest rate on the Loans during such Asset Coverage Noncompliance Period shall be retroactively increased by an additional 1.50% per annum for the period during which an Asset Coverage Noncompliance Period existed if a Default or Event of Default under Section 5.9(b) shall have occurred with respect to the Fiscal Quarter immediately following the commencement of the applicable Asset Coverage Noncompliance Period.

  • This Third Extension Agreement in no way acts as a waiver of any default of any Debtor (other than the Noncompliance Events during the Noncompliance Period) or as a release or relinquishment of any of the existing liens, security interests, rights or remedies securing payment and performance of the Obligations or the enforcement thereof.

  • This Second Extension Agreement in no way acts as a waiver of any default of any Debtor (other than the Noncompliance Events during the Noncompliance Period) or as a release or relinquishment of any of the existing liens, security interests, rights or remedies securing payment and performance of the Obligations or the enforcement thereof.

  • At the end of each Noncompliance Period, if any, Buyer shall pay Seller any amounts not otherwise subject to set off as set forth herein.

  • In addition, the interest rate on the Securities during such Asset Coverage Noncompliance Period shall be retroactively increased by an additional 1.50% per annum for the period during which an Asset Coverage Noncompliance Period existed if a Default or Event of Default under Section 5.9(b) shall have occurred with respect to the Fiscal Quarter immediately following the commencement of the applicable Asset Coverage Noncompliance Period.

  • This Extension Agreement in no way acts as a waiver of any default of any Debtor (other than the Noncompliance Events during the Noncompliance Period) or as a release or relinquishment of any of the existing liens, security interests, rights or remedies securing payment and performance of the Obligations or the enforcement thereof.


More Definitions of Noncompliance Period

Noncompliance Period. As defined in Section 16.1(l)(ii).
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Noncompliance Period means the period commencing on the date of delivery of a Noncompliance Notice to the P1 Accounts Bank and expiring on the date of delivery to the P1 Accounts Bank of a Noncompliance Notice Withdrawal with respect to such Noncompliance Notice.
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Noncompliance Period. Section 1.8.6 “Post-Closing Liabilities” Section 1.1.3
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Noncompliance Period means the period commencing on the date of this Modification Agreement and ending on May 31, 2001.
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Related to Noncompliance Period

  • Compliance Period means a period of time that the Development shall conform to all set-aside requirements as described further in the rule chapter and agreed to by the Applicant in the Application.

  • Compliance year means the calendar year beginning with June 1 and ending with May 31 of the following year, for which a Retail Electricity Supplier must demonstrate that it has met the requirements of this Regulation.

  • Distribution Compliance Period with respect to any Notes, means the period of 40 consecutive days beginning on and including the later of (i) the day on which such Notes are first offered to Persons other than distributors (as defined in Regulation S under the Securities Act) in reliance on Regulation S and (ii) the issue date with respect to such Notes.

  • Covenant Compliance Event means that Excess Availability at any time is less than the greater of (a) ten (10%) percent of the Line Cap or (b) $7,000,000. For purposes hereof, the occurrence of a Covenant Compliance Event shall be deemed continuing until Excess Availability has exceeded the amounts set forth above for thirty (30) consecutive days, in which case a Covenant Compliance Event shall no longer be deemed to be continuing for purposes of this Agreement. The termination of a Covenant Compliance Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Covenant Compliance Event in the event that the conditions set forth in this definition again arise.

  • Compliance Date means, in each case, the date by which compliance is required under the referenced provision of ARRA’s or HIPAA’s implementing regulations, as applicable.

  • Material Compliance Matter has the same meaning as the term defined in Rule 38a-1, and includes any compliance matter that involves: (1) a violation of the federal securities laws by Distributor (or its officers, directors, employees, or agents); (2) a violation of Distributor's Rule 38a-1 policies and procedures; or (3) a weakness in the design or implementation of Distributor's Rule 38a-1 policies and procedures.

  • Noncompliance means a failure in estimating, accumulating, or reporting costs to—

  • Covenant Period means the period of time from the date of this Agreement to the date that is two years after the Date of Termination.

  • Compliance Statement is that certain statement in the form attached hereto as Exhibit B.

  • Compliance schedule means a schedule of events, by date, which will result in compliance with these regulations.

  • Covenant Testing Period means a period (a) commencing on the last day of the fiscal quarter of Borrower most recently ended prior to a Covenant Trigger Event for which Borrower is required to deliver to Administrative Agent quarterly or annual financial statements pursuant to Section 5.2 of this Agreement, and (b) continuing through and including the first day after such Covenant Trigger Event that Availability has equaled or exceeded the greater of (i) 10% of the Borrowing Limit, and (ii) $15,000,000 for 60 consecutive calendar days.

  • Covenant Compliance Worksheet means a fully completed worksheet in the form of Attachment A to Exhibit C.

  • Year 2000 Compliance has the meaning set forth in section 17.29 of the Management Agreement.

  • Pro Forma Compliance means, with respect to any transaction, that such transaction does not cause, create or result in a Default after giving Pro Forma Effect, based upon the results of operations for the most recently completed Measurement Period to (a) such transaction and (b) all other transactions which are contemplated or required to be given Pro Forma Effect hereunder that have occurred on or after the first day of the relevant Measurement Period.

  • Non-Compliance means failure/refusal to comply the terms and conditions of the tender;

  • Environmental Activity means any activity, event or circumstance in respect of a Contaminant, including, without limitation, its storage, use, holding, collection, purchase, accumulation, assessment, generation, manufacture, construction, processing, treatment, stabilization, disposition, handling or transportation, or its Release, escape, leaching, dispersal or migration into the natural environment, including the movement through or in the air, soil (land surface or subsurface strata), surface water or groundwater;

  • Reportable Compliance Event means that any Covered Entity becomes a Sanctioned Person, or is charged by indictment, criminal complaint or similar charging instrument, arraigned, or custodially detained in connection with any Anti-Terrorism Law or any predicate crime to any Anti-Terrorism Law, or has knowledge of facts or circumstances to the effect that it is reasonably likely that any aspect of its operations is in actual or probable violation of any Anti-Terrorism Law.

  • Compliance Costs means all expenses, commitments or obligations in excess of one million dollars ($1,000,000) incurred by Carrier or required to be incurred by Carrier to comply with a Change in Law, irrespective of whether such expenses, commitments or obligations are to be incurred as a one-time expenditure or periodically for an extended period.

  • Compliance Review means an inspection of the home, grounds, and files to determine compliance with these regulations.