Obligation Default definition

Obligation Default means one or more Obligations in an aggregate amount of not less than the Default Requirement have become capable of being declared due and payable before they would otherwise have been due and payable as a result of, or on the basis of, the occurrence of a default, event of default or other similar condition or event (however described), other than a failure to make any required payment, in respect of a Reference Entity under one or more Obligations.
Sample 1Sample 2Sample 3
Obligation Default means that the Reference Asset [Insert if Credit Events apply to Obligations: and/or any Obligation] [Insert if "Default Requirement" is specified as applicable: in an aggregate amount not less than the Default Requirement] has become capable of being declared due and payable before it would otherwise have been due and payable as a result of, or on the basis of, the occurrence of a default, event of default or other similar condition or event (however described) [Insert if Credit Event "Failure to Pay" is applicable: , other than a failure to make any required payment, in respect of the Reference Asset [Insert if Credit Events apply to Obligations: or the Obligation], provided that the determination of the occurrence of an Obligation Default shall be made without regard to any grace period or any conditions precedent to the commencement of any grace period applicable to the Reference Asset [Insert if Credit Events apply to Obligations: or the Obligation] [any event or circumstance which may with giving notice by the holders of the Reference Asset [Insert where Credit Events apply to Obligations: or the Obligation]
Sample 1
Obligation Default means that one or more Obligations in an aggregate amount of not less than the Default Requirement specified in the applicable Pricing Supplement (or if none is specified, US$10,000,000 or the equivalent in the relevant currency) have become capable of being declared due and payable before they would otherwise have been due and payable as a result of, or on the basis of, the occurrence of a default, event of default or other similar condition or event (however described), other than a failure to make any required payment, in respect of a Reference Entity under one or more Obligations.
Sample 1Sample 2

Examples of Obligation Default in a sentence

  • SIR and each obligor provided an undertaking to cooperate and explore all options with the Fund to maximize value to the Fund's unitholders and SIR and its shareholders in exchange for the Subordinating Parties not demanding repayment or enforcing security as a result of any such Related Party Obligation Default.

  • Examples of Credit Events that might apply to individual Credit Linked Securities include Bankruptcy, Failure to Pay, Restructuring, Obligation Acceleration, Obligation Default and Repudiation/Moratorium.

  • Credit Event(s) means, with respect to a Note or a Reference Entity as determined by the Calculation Agent, the occurrence of one or more of Bankruptcy, Failure to Pay, Obligation Default, Repudiation/Moratorium, Obligation Acceleration, Restructuring or Governmental Intervention as specified to be applicable to a Reference Entity in these Terms and Conditions.

  • Secured Obligation Default Loans shall be due and payable upon written demand.

  • Obligation Default means one or more Obligations, in an aggregate amount of not less than the Default Requirement, have become capable of being declared due and payable before they would otherwise have been due and payable as a result of, or on the basis of, the occurrence of a default, event of default or other similar condition or event (however described), other than a failure to make any required payment, in respect of a Reference Entity under one or more Obligations.

  • References to "Obligation" in the definitions of "Grace Period", "Grace Period Business Day", "Publicly Available Information", "Credit Event", "Obligation Acceleration", "Obligation Default", "Repudiation/Moratorium", "Restructuring", "Default Requirement", "Governmental Authority", "Obligation Currency" and "Payment Requirement" shall be deemed to include a Recourse Obligation that relates to any Obligation that is a Sukuk Obligation (if any).

  • Obligation Default: one or more Obligations have become capable of being declared due and payable before they would otherwise become due and payable as a result of, or on the basis of, the occurrence of a default, event of default, or other similar condition or event (however described), other than a failure to make any required payment, in respect of a Reference Entity under one or more Obligations in an aggregate amount of not less than the Default Requirement.

  • Nevertheless, a survey of major operators including Third-Party Logistics Operators, Ship operators, Shippers and Beneficial Cargo Owners, and Major Port Authorities carried out by Faber et al in 2012 indicated that the operators surveyed had a clear understanding of the environmental benefits of slow steaming in terms of NOX and SOX emissions reduction as well as CO2 emissions reduction (Faber et al 2012).

  • Obligation Acceleration Obligation Default Repudiation/Moratorium Restructuring: [Restructuring Maturity Limitation and Fully Transferable Obligation: Applicable] [Modified Restructuring Maturity Limitation and Conditionally Transferable Obligation: Applicable] The occurrence of one or more of the Credit Events specified in respect of the relevant Transaction Type corresponding to any Reference Entity in the Matrix during the Reference Period.

  • The Dumfries site, established in the 1990s, recycles waste farm plastics, keeping reusable polythene in circulation and out of landfill.


More Definitions of Obligation Default

Obligation Default means that the Reference Asset [Insert if Credit Events apply to Obligations: and/or any Obligation] [Insert if "Default Requirement" is specified as applicable: in an aggregate amount not less than the Default Requirement] has become capable of being declared due and payable before it would otherwise have been due and payable as a result of, or on the basis of, the occurrence of a default, event of default or other similar condition or event (however described) [Insert if Credit Event "Failure to Pay" is applicable: , other than a failure to make any required payment, in respect of the Reference Asset [Insert if Credit Events apply to Obligations: or the Obligation], provided
Sample 1
Obligation Default means the Reference Assets [Insert where Credit Events apply to Obligations: or one or more of the Obligations in an aggregate amount not less than the Material Amount (individually or collectively)] have become capable of being declared due and payable before it would otherwise have been due and payable as a result of, or on the basis of, the occurrence of a default, event of default or other similar condition or event (however described) [Insert if Failure to Pay is applicable: , other than a failure to make any required payment, in respect of such Reference Assets [Insert where Credit Events apply to Obligations: or such Obligations], provided that the determination of the occurrence of an Obligation Default shall be made without regard to any grace period or any conditions precedent to the commencement of any grace period applicable to such Reference Assets [Insert where Credit Events apply to Obligations: or any of such Obligations] [any event or circumstance which may with giving notice by the holders of such Reference Assets [Insert where Credit Events apply to Obligations: or any of the Obligations] (or the relevant quorum of holders of the Reference Assets [Insert where Credit Events apply to Obligations: or such Obligation]) or the lapse of time or both, result in such Reference Assets [Insert where Credit Events apply to Obligations: or such Obligation] becoming due and payable before they would have been due and payable, as the case may be, and as a result of, or on the basis of, the occurrence of a default, event of default or similar condition or event (howsoever described) in accordance with the terms of such Reference Assets [Insert where Credit Events apply to Obligations: or such Obligation] or otherwise.]
Sample 1

Related to Obligation Default

  • in default means that, as to any Mortgage Loan, any Mortgage Note payment or escrow payment is unpaid for thirty (30) days or more after its due date (whether or not the Seller has allowed any grace period or extended the due date thereof by any means) or another material default has occurred and is continuing, including the commencement of foreclosure proceedings or the commencement of a case in bankruptcy for any Customer in respect of such Mortgage Loan.

  • Modification Default Loss means the loss calculated in Exhibits 2a(1)-(3) for single family loans previously modified pursuant to this Single Family Shared-Loss Agreement that subsequently default and result in a foreclosure, short sale or Deficient Loss.

  • Non-Defaulting Party has the meaning specified in Section 6(a).

  • Non-default Rate means a rate per annum equal to the cost (without proof or evidence of any actual cost) to the Non-defaulting Party (as certified by it) if it were to fund the relevant amount.

  • Non-Defaulting Lender means, at any time, each Lender that is not a Defaulting Lender at such time.

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

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

  • Default Event means the occurrence of any of the following events:

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

  • cross-default obligation means a term of any agreement or arrangement whereby the Appointee's liability to pay or repay any debt or other sum arises or is increased or accelerated by reason of a default of any person other than the Appointee. 6.12 Without prejudice to the application of paragraph 6.2 the Appointee shall declare or pay dividends only in accordance with a dividend policy which has been approved by the Board of the Appointee and which complies with the following principles -

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