of Default definition

of Default shall have the meaning assigned to it in SECTION 4.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

of Default. As defined in Section 5.1.

of Default means: (a) a party fails to make any payment hereunder when the same becomes due and such failure continues for a period of thirty (30) days after written notice to the party failing to make such payment;

Examples of of Default in a sentence

• Upon any such waiver, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon.

• Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

• A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default.

• A delay or omission by the Trustee or any Holder of a Note in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default.

• No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein.

More Definitions of of Default

of Default. A "default" is defined as follows:

of Default means any of the events mentioned in Clause 9;

of Default means an ECA Event of Default or a Head Lease Event of Default. Eximbank means the Export-Import Bank of the United States. Expected Delivery Date means the date specified as such in any Request. Expiry Date means the twelfth (12th) anniversary of the Delivery Date or, if applicable, of the Expected Delivery Date in accordance with Clause 2.9 (Delayed Delivery), or, in either case, if such anniversary is not a Business Day, the immediately preceding Business Day. Export Credit Agencies means Coface, Euler Hermes and ECGD. Facility means the credit facility made available under the ECA Loan Agreement. Facility Office means the office(s) notified by an ECA Lender to the ECA Facility Agent:

of Default means any of the events specified in Article 7;

of Default. (i) failure to pay any amount owing by the Company hereunder when due and payable, (ii) the initiation of any bankruptcy, insolvency, moratorium, receivership or reorganization by or against the Company, or a general assignment of assets by the Company for the benefit of creditors, (iii) the material breach of any representation or warranty of the Company contained in this Note at the time when such representation or warranty is made, (iv) the breach of any of the covenants set forth in this Note, or (v) any of the Company’s indebtedness for borrowed money (or any guaranty by the Company thereof) is accelerated as a result of a default or breach of or under any agreement for such borrowed money, including but not limited to loan, credit or reimbursement agreements, or any default shall occur thereunder which entitles the holder thereof to so accelerate such indebtedness, or material breach under any real property lease agreement or capital equipment lease agreement by which the Company is bound or obligated.

of Default notify the Lead Bank in writing of any event set out in Clause 17.1(a)-(t) (ignoring any grace periods or notice requirements therein) or any Potential Event of Default immediately upon becoming aware of such occurrence;

of Default. As defined in Article I 6. EXCESS GROSS REVENUES: Gross Revenues less Base Gross Revenues. EXPIRATION DATE: As defined in Section 12. 7