Nonpayment Breach definition

Nonpayment Breach means the failure of the Company to pay, on any ----------------- Distribution Date, the minimum amount necessary to amortize the Class B Amount on a straight line basis over a sixty (60) month period, together with interest thereon at the Preferred Rate.
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Nonpayment Breach means the failure of Borrower to pay to Mezzanine Lender on any Payment Date an amount equal to the applicable Minimum Amount.
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Nonpayment Breach means the failure of Borrower to pay to Mezzanine Lender on any Payment Date an amount equal to the applicable Monthly Payment Amount.
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Examples of Nonpayment Breach in a sentence

  • Any interest cancelled or deemed cancelled (in each case, in whole or in part) in such circumstances shall not be due and shall not accumulate or be payable at any time thereafter nor shall any non-payment of such interest constitute an event of default under Condition 10 (Winding-Up, Non-payment, Breach of Obligations, Remedies), and Noteholders shall have no rights thereto or to receive any additional interest or compensation as a result of such cancellation or deemed cancellation.

  • Any interest cancelled or deemed cancelled (in each case, in whole or in part) in such circumstances shall not accumulate and will not become due or payable at any time thereafter, nor shall any non-payment of such interest constitute an event of default under Condition 10 (Winding-Up, Non-payment, Breach of Obligations, Remedies), and Noteholders shall have no rights thereto or to receive any additional interest or compensation as a result of such cancellation or deemed cancellation.

  • The Issuer shall (subject to Condition 2 (Status) and Condition 10 (Winding-Up, Non-payment, Breach of Obligations, Remedies) and without prejudice to the provisions of Condition 11 (Prescription) only have the right to redeem or repurchase the Notes in the circumstances described herein.

Related to Nonpayment Breach

  • Non-Breaching Party has the meaning set forth in Section 9.3.

  • Persistent Breach means a Default which has occurred on three or more separate occasions with a continuous period of six (6) months.

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

  • Customer Default has the meaning set out in clause 8.3.

  • Breaching Party has the meaning set forth in Section 12.2.

  • Serious Breach means any breach defined as a Serious Breach in the Agreement or any breach or breaches which adversely, materially or substantially affect the performance or delivery of the Services or compliance with the terms and conditions of the Agreement or the provision of a safe, healthy and supportive learning environment or a breach of security that adversely affects the Personal Data or privacy of an individual. Failure to comply with Law, or actions or omissions by the Provider that endanger the Health or Safety of Learners, Provider Personnel, and all other persons including members of the public would constitute a Serious Breach;

  • Incipient Default means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default.

  • Breach means an impermissible use or disclosure of electronic or non-electronic sensitive personal information by an unauthorized person or for an unauthorized purpose that compromises the security or privacy of Confidential Information such that the use or disclosure poses a risk of reputational harm, theft of financial information, identity theft, or medical identity theft. Any acquisition, access, use, disclosure or loss of Confidential Information other than as permitted by this DUA shall be presumed to be a Breach

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

  • Major Breach means a breach of:

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

  • Credit Breach means the status of a Participant that does not currently meet the requirements of Tariff, Attachment Q or other provisions of the Agreements.

  • Payment Default has the meaning set forth in Section 5.4(a) of the Indenture.

  • Data Breaches Party shall report to AHS, though its Chief Information Officer (CIO), any impermissible use or disclosure that compromises the security, confidentiality or privacy of any form of protected personal information identified above within 24 hours of the discovery of the breach. Party shall in addition comply with any other data breach notification requirements required under federal or state law.

  • Notice of Breach means a written notice delivered to the other party within the time period required under the definition of “Cause” or “Good Reason,” as applicable, that (a) indicates, as applicable, the specific provision in this Agreement that the party contends the other party has breached or the specific clause of the definition of “Cause” or “Good Reason” that the party alleges to exist, and (b) to the extent applicable, sets forth in reasonable detail the facts and circumstances Executive or the Company, as applicable, claims provide the basis for such breach or other condition.

  • Non-Payment Default means any event (other than a Payment Default) the occurrence of which entitles one or more Persons to accelerate the maturity of any Designated Senior Indebtedness.

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

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

  • 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:

  • Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p).

  • 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.

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

  • 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);

  • Specified Event of Default means an Event of Default under Section 7.01(a), (b), (h) or (i).

  • Data Breach means the unauthorized access by an unauthorized person that results in the use, disclosure or theft of Customer Data.