Payment Defaults definition

Payment Defaults. (i) Accentia failed to pay off the Loans by September 1, 2004, and (ii) Accentia has failed to make the monthly interest payments on the Loans in accordance with the Assumption Agreement.
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Payment Defaults is defined in Section 3.16(b)(ii).
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Payment Defaults means non-payment of scheduled interest, amortisation and other payments falling due, including any failure to make deposits to be made to the Debt Service Account, under the Bond Agreement during the Standstill Period, which consists of the following:
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Examples of Payment Defaults in a sentence

  • Each Originator hereby waives any statute of limitations or other law that might otherwise be raised in defense to any repurchase obligation hereunder.Section 4.9 Payment Defaults.

  • The servicer must also send the loss mitigation letter within 45 days of delinquency for Early Payment Defaults (EPDs) and within 75 days of delinquency for non-EPDs. A default is considered an EPD if the borrower becomes delinquent within 6 months following loan origination or the execution of a modification agreement.

  • Payment Defaults (a) If the debtor fails to make a payment pursuant to a confirmed plan, including a direct payment to a creditor, the Trustee may mail to the debtor and the debtor’s attorney written notice of the default.(b) If the debtor believes that there is no such default, the debtor shall set a hearing within 30 calendar days of the mailing of the notice of default and give at least 14 calendar days’ notice of the hearing to the Trustee pursuant to Local Bankruptcy Rule 9014-1(f)(2).

  • A review of 100% of 12 month Early Payment Defaults (EPD) for residential loans and 50% of 24 month EPD/watch list loans for commercial real estate loans.

  • An invoice sent pursuant to Section 11.8.1 to a non-Defaulting SCPPA Participant as a result of one or more Payment Defaults, which invoice shall separately identify any amount owed with respect to the monthly Billing Statement of one or more Defaulting SCPPA Participants for Total Power Costs reflected in the Defaulting SCPPA Participant(s) unpaid monthly Billing Statement.

  • A small amount of fishing occurs in the tailwater, even though this is not a public area.

  • Events of Default and Remedies, Including EPDs and EPOs 200Early Payment Defaults (EPDs) 200This proprietary and confidential document is the property of Computershare Loan Services.

  • All told, from January 1, 2002 through December 31, 2010, Wells Fargo internally identified 6,558 loans that it was required to self-report, including 3,142 Early Payment Defaults, but self-reported only 238 loans.

  • For the purposes of the Contract, Payment Defaults to be taken into account shall be those occurring no later than one calendar year after the expiry date of the Contract.

  • With respect to defaults other than Payment Defaults, the Borough shall not unreasonably refuse to grant a reasonable extension of the cure period, not to exceed 90 days after the Notice unless the Borough in its sole discretion shall agree to a longer cure period.


More Definitions of Payment Defaults

Payment Defaults means the Defaults and Events of Default arising from failure to pay any Specified Amount on or prior to the date on which such Specified Amount is due and payable as set forth on Schedule 1 hereto;
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Payment Defaults. This Limited Warranty shall be void if the Purchaser is in default on any portion of its payment obligations to MSCSI. Reservation of Rights: MSCSI reserves the right to change the Warranty Period at any time and without prior notice and to make all final decisions, at its sole discretion, regarding the validity of any Warranty claims. MSCSI reserves the right to utilize new, reconditioned, refurbished, repaired or remanufactured products or parts in the repair or replacement process; such products or parts will be comparable in function and/or performance to an original product or part. Applicable Law and Venue: This Limited Warranty and all matters connected with the performance thereof shall be construed, interpreted, applied and governed in all respects by the laws of the State of Delaware, without regard to such laws governing conflicts-of-law or choice-of-law. Any action, suit or proceeding arising out of or relating to this Limited Warranty and/or to the purchase, use or possession of the Products covered by this Limited Warranty shall be brought and maintained exclusively in the state or federal courts located in the State of Delaware, and the Purchaser expressly submits to the personal jurisdiction of such courts.
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Payment Defaults. This Limited Warranty shall be void if the Purchaser is in default on any portion of its payment obligations to Innovative Growers Equipment. Reservation of Rights: Innovative Growers Equipment reserves the right to change the Warranty Period at any time and without prior notice and to make all final decisions, at its sole discretion, regarding the validity of any Warranty claims. Innovative Growers Equipment reserves the right to utilize new, reconditioned, refurbished, repaired or remanufactured products or parts in the repair or replacement process; such products or parts will be comparable in function and/or performance to an original product or part. Applicable Law and Venue: This Limited Warranty and all matters connected with the performance thereof shall be construed, interpreted, applied and governed in all respects by the laws of the State of Delaware, without regard to such laws governing conflicts-of-law or choice-of-law. Any action, suit or proceeding arising out of or relating to this Limited Warranty and/or to the purchase, use or possession of the Products covered by this Limited Warranty shall be brought and maintained exclusively in the state or federal courts located in the State of Delaware, and the Purchaser expressly submits to the personal jurisdiction of such courts. Other Products: This Limited Warranty covers only the Hardware Products specified on the first page. Software/ Firmware and other products may be subject to a separate Limited Warranty which differs from this one.
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Payment Defaults means the Company’s failure to pay to the MHR Funds the principal and interest due and payable on September 26, 2012 under the terms of the Convertible Notes and the Reimbursement Notes.
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Related to Payment Defaults

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

  • 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.

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • O & M Default means any default on the part of the Power Producer for a continuous period of ninety (90) days to (i) operate and/or (ii) maintain (in accordance with Prudent Utility Practices), the Project at all times.

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

  • 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.

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

  • Non-Monetary Default shall have the meaning assigned to such term in Section 11(d).

  • 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).

  • 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).

  • Monetary Default shall have the meaning assigned to such term in Section 11(a).

  • 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):

  • 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).

  • 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):

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

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

  • 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)).

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

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