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.
Sample 1Sample 2Sample 3
Payment Defaults is defined in Section 3.16(b)(ii).
Sample 1Sample 2Sample 3
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;
Sample 1Sample 2

Examples of Payment Defaults in a sentence

  • If the Aggregator or CPG fails to maintain the Minimum Balance or in the event of two consecutive Payment Defaults, the Competitive Supplier may, at its sole discretion, either reduce or remove the Low- Income Consumer Discount at any time, and the Aggregator or CPG will have ten (10) Business Days to cure such Payment Default or Competitive Supplier shall be permitted to initiate and recoup such amounts through the Stop Gap Funding process described above.

  • There are no Material Payment Defaults of the Borrower and its Restricted Subsidiaries under Funded Debt Agreements, other than Funded Debt Agreements governing an aggregate principal amount of Funded Debt which is not in excess of $150,000,000.

  • Each of the Payment Defaults defined above that occurred prior to February 9, 2005.

  • IP shall be obligated to resume providing Products hereunder as soon as reasonably practicable after Sylvamo has cured all Uncured Payment Defaults within five (5) Business Days following such cure.

  • Subsection 9.04 Repurchase of Mortgage Loans with Early Payment Defaults...............................................

  • Subsection 9.05 Repurchase of Mortgage Loans with First Payment Defaults...............................................

  • Repurchase of Mortgage Loans With First Payment Defaults...............................................

  • Subsection 8.04 Repurchase of Mortgage Loans With Early Payment Defaults...............................................

  • If either of the conditions set forth in clauses (ii) or (iii) above occur, then all Loan Payment Defaults must be immediately cured and all Loan Defaults shall be deemed waived by the Servicer.

  • The Position Holder Trust shall have the right, but shall have no obligation, to offset against any distributions allocated to any Position Holder Trust Interest in an amount equal to all unpaid amounts owed by the Holder of the Position Holder Trust Interest to the Position Holder Trust, including all unpaid amounts owed for (i) Catch-Up Payments, (ii) Pre-Petition Default Amounts and (iii) post-Effective Date Payment Defaults.


More Definitions of Payment Defaults

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:
Sample 1Sample 2
Payment Defaults. This Limited Warranty shall be void if the Purchaser is in default on any portion of its payment obligations to MSCSI.
Sample 1
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.
Sample 1
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.
Sample 1

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 the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

  • 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 has the meaning specified in Section 8.01.

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

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

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

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

  • 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.

  • 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)).

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

  • Net Default Charges With respect to any Mortgage Loan, Serviced Loan Combination or successor REO Mortgage Loan, the Default Charges referred to in clause third of Section 3.25(a) or clause fourth of Section 3.25(c), which are payable to the applicable Master Servicer as Additional Master Servicing Compensation or the applicable Special Servicer as Additional Special Servicing Compensation.

  • 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.

  • Owner Event of Default shall have the meaning set forth in Section 18.3.