Participant Event of Default Compensation Sum definition

Participant Event of Default Compensation Sum has the meaning given to it in paragraph 2 of Section 1 (Participant Event of Default Compensation Sum) of Schedule 14 (Compensation on Participant Event of Default and Termination);
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Examples of Participant Event of Default Compensation Sum 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.

  • 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).

  • The compensation payable under Sections 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) shall be the sole remedy of hubco against the Participants or any of them in connection with the termination of this Agreement but shall be without prejudice to any antecedent claims which any Party may have against any of the others pursuant to the terms of this Agreement.

  • Where more than one Participant is responsible for the Participant Event of Default, each such Participant shall be severally liable for payment of the relevant Participant Event of Default Compensation Sum save as provided in paragraph 2.3.1 above.

  • 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.

  • Where: xxxxx has served a Participant Default Notice; and/or hubco terminates this Agreement with respect to one or more Participants pursuant to Clause 22.2.2(a), each Participant responsible for the Participant Event of Default giving rise to the service of the Participant Default Notice shall pay to hubco the relevant Participant Event of Default Compensation Sum (if any) calculated in accordance with paragraph 2.

Related to Participant Event of Default Compensation Sum

  • 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.

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

  • ERISA Termination Event means (i) a “Reportable Event” described in Section 4043 of ERISA and the regulations issued thereunder (other than a “Reportable Event” not subject to the provision for 30-day notice to the PBGC under such regulations), or (ii) the withdrawal of a Borrower or any of its ERISA Affiliates from a “single employer” Plan during a plan year in which it was a “substantial employer”, both of such terms as defined in Section 4001(a) of ERISA, or (iii) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section 4041 of ERISA, or (iv) the institution of proceedings to terminate a Plan by the PBGC or (v) any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan or (vi) the partial or complete withdrawal of a Borrower or any ERISA Affiliate of such Borrower from a “multiemployer plan” as defined in Section 4001(a) of ERISA.

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

  • default value means a value derived from a typical value by the application of pre-determined factors and that may, in circumstances specified in this Directive, be used in place of an actual value;’;

  • 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)).

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

  • 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.

  • 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.

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

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • 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).

  • Unmatured Termination Event means an event that, with the giving of notice or lapse of time, or both, would constitute a Termination Event.

  • Senior Event of Default means an Event of Default under the Senior Loan Documents.

  • Swap Termination Event means any event defined as a “Swap Termination Event” in the Interest Rate Swap Agreement.

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

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

  • default fund means a fund established by a CCP in accordance with Article 42 of Regulation (EU) No 648/2012 and used in accordance with Article 45 of that Regulation;

  • Acceleration Event means the occurrence of an Event of Default (a) in respect of which Agent has declared all or any portion of the Obligations to be immediately due and payable pursuant to Section 10.2, (b) pursuant to Section 10.1(a), and in respect of which Agent has suspended or terminated the Revolving Loan Commitment pursuant to Section 10.2, and/or (c) pursuant to either Section 10.1(e) and/or Section 10.1(f).

  • 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;

  • Master Servicer Event of Default One or more of the events described in Section 7.01.

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

  • Control Termination Event shall have the meaning given to such term or any one or more analogous terms in the Lead Securitization Servicing Agreement.

  • Servicer Event of Default One or more of the events described in Section 7.01.