Participant Event of Default definition

Participant Event of Default has the meaning given to it in Section 11.1.
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Participant Event of Default has the meaning given to it in Clause 22.1;
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Examples of Participant Event of Default in a sentence

  • Subject to paragraph 2.3 of Section 2 (Participant Event of Default Compensation Sum) of Schedule 14 (Compensation on Participant Event of Default and Termination), the liability of each of the Participants under this Agreement is several and no act or omission (including any default or waiver) of any Participant shall bind any other Participant save as expressly set out herein.

  • An inspection or audit not followed by a notice of Participant Event of Default will not constitute or be deemed to constitute a waiver of any Participant Event of Default, nor will it constitute or be deemed to constitute an acknowledgement that there has been or will be compliance by the Participant with this Agreement.

  • Subject to paragraph 2.3 of Section 2 (Participant Event of Default Termination Sum) of Schedule 14 (Compensation on Participant Event of Default and Termination), the liability of each of the Participants under this Agreement is several and no act or omission (including any default or waiver) of any Participant shall bind any other Participant save as expressly set out herein.

  • Any Facility Amendment that has not been consented to by the [Sponsor] shall, if not rectified within ten (10) Business Days after such Facility Amendment occurred, constitute a Participant Event of Default.

  • The Participant Event of Default Termination Sum shall be an amount equal to the redundancy payments for employees of hubco that have been or will be reasonably incurred by hubco as a direct result of termination of this Agreement and any amounts payable to the Partnering Subcontractors under and in accordance with the relevant Supply Chain Agreements as a direct result of such termination.

  • In the event that a Participant Event of Default under Clause 22.1.3 occurs as a result of the actions of a Relevant Authority other than a Participant, all Participants shall be deemed to be responsible for such Participant Event of Default.

  • Where termination of this Agreement in respect of any Participant follows service of a Participant Default Notice in respect of such Participant, there shall be no double counting or double recovery pursuant to Section 1 (Participant Event of Default Compensation Sum) and 2 (Participant Event of Default Termination Sum) of this Schedule Part 15 (Compensation on Participant Event of Default and Termination) of any Partnering Services Costs or loss of profit.

  • The Participant(s) responsible for the Participant Event of Default in question shall be jointly and severally liable for payment of the Participant Event of Default Termination Sum.

  • Where hubco has served a Participant Default Notice and/or terminates this Agreement in accordance with Clause 22.2 in respect of a Participant as a result of a Participant Event of Default, the Participant(s) responsible for the Participant Event of Default shall pay compensation to hubco calculated in accordance with Section 1 (Participant Event of Default Compensation Sum) of Schedule Part 15 (Compensation on Participant Event of Default and Termination).

  • Subject to Section 3 (Payment and Interest) of Schedule Part 15 (Compensation on Participant Event of Default and Termination), all valid invoices shall be payable within 30 days of receipt.

Related to Participant Event of Default

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

  • 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.

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

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Material Event of Default means any Event of Default arising under Section 10.01(a), 10.01(b) (solely with respect to a default related to Section 8.01, 8.20 or 9.13), 10.01(f), 10.01(i), 10.01(j), 10.01(n) or 10.01(o).

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • Specified Event of Default means any Event of Default under Section 8.01(a), (f) or (g).

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

  • Insurance Agreement Event of Default means an "Event of Default" as defined in the Insurance Agreement.

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • Senior Event of Default means an Event of Default under (and as defined in) the Senior Facilities Agreement.

  • Servicer Event of Default wherever used herein, means any one of the following events:

  • Owner Event of Default has the meaning specified in Section 16.2.

  • Potential Issuer Event of Default means any condition, event or act which, with the lapse of time and/or the issue, making or giving of any notice, certification, declaration, demand, determination and/or request and/or the taking of any similar action and/or the fulfilment of any similar condition, would constitute an Issuer Event of Default;

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Bond Event of Default means the occurrence of any of the following (or such event or condition which with notice or lapse of time or both would constitute any of the following):

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Company Event of Default bears the meaning ascribed thereto in Section 13.1; “Company Notice of Default” bears the meaning ascribed thereto in Section 13.2;

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Incipient Event of Termination means an event that but for notice or lapse of time or both would constitute an Event of Termination.

  • Event of Default wherever used herein, means any one of the following events (whatever the reason for such 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):