Payment Default Event definition

Payment Default Event shall have occurred if (i) each Class of Notes shall become due and payable pursuant to Section 6.2(a) of the Indenture or (ii) each Class of Notes shall otherwise become due and payable following an Event of Default under the Indenture and the Indenture Trustee has, in its good faith judgment, determined that the value of the assets comprising the Trust Estate is less than the Aggregate Outstanding Note Balance.
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Payment Default Event has the meaning specified in Section 2(c).
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Payment Default Event has the meaning specified in Section 5.1(a) hereof.
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Examples of Payment Default Event in a sentence

  • No Petrobras Payment Default Event shall have occurred and be continuing.

  • Upon the occurrence of a Payment Default Event, as soon as practicable, but in no event later than ten Business Days after receipt of written notice or actual knowledge by an officer of the Servicer of such Payment Default Event, the Servicer shall cause the Assignment of Mortgage in respect of each Timeshare Loan transferred on such date to be sent for recording to the appropriate offices.

  • Auflage), 3524f.(6) Entry "Konstitutionenökonomik" ("Constitutional Economics") in: Gabler Volkswirtschaftslexikon, Band 1, Wiesbaden: Gabler 1996, 621-9.slightly abridged version in: Gabler Wirtschaftslexikon, Band 2, Wiesbaden: Gabler 1996 (14.

  • Notwithstanding anything herein to the contrary, the Borrower may dispute any Margin Call Notice delivered by the Lender stating that a Borrowing Base Deficiency exists due to either (x) a B Note Performance Event or (y) a B Note Payment Default Event relating to a mortgage loan which is a B Note Extended Monthly Payment Default Loan.

  • Further, the Non- Defaulting Party may (A) at any time during the continuation of the Payment Default Event, terminate this Agreement upon thirty (30) days prior written notice to the Defaulting Party, and (B) pursue any remedy under this Agreement, at law or in equity, including an action for damages.

  • Lessee’s right to request, and the obligation of Owner Participant, Owner Trustee and Indenture Trustee to cooperate with any XM-4 Participation Agreement such refinancing shall be subject to the condition that no Bankruptcy Default, Payment Default, Event of Default or Equity Wrap Default shall have occurred and be continuing, other than a Payment Default, Event of Default or Equity Wrap Default that would be cured prior to or upon such refinancing.

  • Domestic capital owners retain C, while foreign capital owners retain D and gain F.A simple long run view that the average excess burden of company tax is equal to E/(A+B) ignores the fact that B is a valuable source of tax revenue that would be temporarily lost in the transition to a zero tax rate.


More Definitions of Payment Default Event

Payment Default Event shall have the meaning given such term in Section 2.07.
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Payment Default Event has the meaning specified in Section 8.2.1 hereof.
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Payment Default Event has the meaning specified in Section 2(c). “Pay-Over Amount” has the meaning specified in Section 5(e)(2)(B).
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Payment Default Event shall have occurred if (i) the Note shall become due and payable pursuant to Section 6.2(a) of the Note Purchase Agreement or (ii) the Note shall otherwise become due and payable following an Event of Default under the Note Purchase Agreement and the Collateral Agent has, in its good faith judgment, determined that the value of the assets comprising the Timeshare Loans Collateral is less than the Outstanding Note Balance.
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Related to Payment Default Event

  • Payment Default has the meaning set forth in Section 5.4(a) of the Indenture.

  • 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.

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

  • Senior Payment Default means any default in the payment of principal of (or premium, if any) or interest on any Senior Debt of the Company when due, whether at the Stated Maturity of any such payment or by declaration of acceleration, call for redemption or otherwise. In the event that any Senior Nonmonetary Default (as defined below) shall have occurred and be continuing, then, upon the receipt by the Company, the Subsidiary Guarantors and the Trustee of written notice of such Senior Nonmonetary Default from the agent for the Designated Senior Debt which is the subject of such Senior Nonmonetary Default, no Securities Payment shall be made during the period (the “Payment Blockage Period”) commencing on the date of such receipt of such written notice and ending on the earlier of (i) the date on which such Senior Nonmonetary Default shall have been cured or waived or shall have ceased to exist or all Designated Senior Debt the subject of such Senior Nonmonetary Default shall have been discharged; (ii) the 179th day after the date of such receipt of such written notice; or (iii) the date on which the Payment Blockage Period shall have been terminated by written notice to the Company, any Subsidiary Guarantor or the Trustee from the agent for the Designated Senior Debt initiating the Payment Blockage Period; provided, however, that nothing in this Section shall prevent the satisfaction of any sinking fund payment in accordance with Article Sixteen by delivering and crediting pursuant to Section 1602 Securities which have been acquired (upon redemption or otherwise) prior to the date of such receipt of such written notice. No more than one Payment Blockage Period may be commenced with respect to the Securities of a particular series during any 360-day period and there shall be a period of at least 181 consecutive days in each 360-day period when no Payment Blockage Period is in effect. For all purposes of this paragraph, no Senior Nonmonetary Default that existed or was continuing on the date of commencement of any Payment Blockage Period shall be, or be made, the basis for the commencement of a subsequent Payment Blockage Period, whether or not within a period of 360 consecutive days, unless such Senior Nonmonetary Default shall have been cured for a period of not less than 90 consecutive days.

  • Incipient Default means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default.

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

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

  • 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.

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • Liquidity Event of Default means the occurrence of either (a) the Acceleration of all of the Equipment Notes or (b) an American Bankruptcy 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).

  • 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)).

  • 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.

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

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

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

  • 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):

  • 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).

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

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

  • Bank Default means (i) the refusal (which has not been retracted) of a Bank to make available its portion of any Borrowing or to fund its portion of any unreimbursed payment under Section 2.03(c) or (ii) a Bank having notified in writing the Borrower and/or the Administrative Agent that it does not intend to comply with its obligations under Section 1.01 or Section 2, in the case of either clause (i) or (ii) as a result of any takeover of such Bank by any regulatory authority or agency.

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

  • 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;’;

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