Noncompliance Period definition
Examples of Noncompliance Period in a sentence
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.
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).
Each such payment shall be due and payable within five (5) days of the end of each month (or ending portion thereof) of the Blackout Period until the termination of the Noncompliance Period.
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.
Borrower has advised Lender further that the defective nature of such parts was unknown to Borrower during the Inventory Noncompliance Period.
The Noncompliance Period shall terminate upon (1) listing or inclusion and/or trading of the Registrable Securities on a public market or exchange in the case of (A) above; and (2) delivery of such shares in the case of (B) above.
Borrower has requested that Lender waive such noncompliance for the Inventory Noncompliance Period.
This Modification 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.
The Noncompliance Period shall terminate upon listing or inclusion and/or trading of the Registrable Securities on a public market or exchange.
Each month in which there is a Noncompliance Period and any Actual Generation in such month(s) shall be disregarded in the calculation of Annual Deficits under Section 3.01 and the Expected kWh for any Guarantee Year in which there is a Noncompliance Period shall be reduced by an amount proportionate to the period so disregarded and to the actual or reasonably estimated meteorological data during such period.