Payment Default has the meaning set forth in Section 5.4(a) of the Indenture.
Payment Default means the occurrence of an event that would give rise to an Event of Default under Section 4.01(a) of the Indenture upon the giving of notice or the passing of time or both.
Payment Default has the meaning set forth in Section 6.01(d).
Examples of Payment Default in a sentence
Test 3.3(s) – 1: No Payment Default Observe the Receivable in Ford Credit's receivables system and confirm it was not more than 30 days Delinquent as of the Cutoff Date.
The Issuer shall deliver to the Trustee, within 10 days after the occurrence thereof, notice of any Payment Default or acceleration referred to in Subsection 8.1(e).
More Definitions of Payment Default
Payment Default means any default, whether or not any requirement for the giving of notice, the lapse of time or both, or any other condition to such default becoming an event of default has occurred, in the payment of principal of (or premium, if any) or interest on or any other amount payable in connection with Designated Senior Debt.
Payment Default means any default in the payment of principal of, premium, if any, or interest, on any Designated Senior Indebtedness.
Payment Default has the meaning specified in Section 5.1.
Payment Default has the meaning set forth in Section 6.01.
Payment Default has the meaning assigned to such term in Section 6.01.
Payment Default shall have the meaning specified in Section 12.2(a).
Payment Default with respect to any Indenture, has the meaning specified in such Indenture.