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

Payment Event of Default means any Event of Default specified in Section 11.1(a) or (b).

Payment Event of Default means any default in the payment or required prepayment of principal of (or premium, if any, on) or interest on any Specified Senior Indebtedness when due (whether at final maturity, upon scheduled installment, upon acceleration or otherwise).

Examples of Payment Event of Default in a sentence

So long as any Senior Payment Event of Default shall be continuing, any number of Payment Blockage Notices identifying Senior Payment Events of Default may be given and any number of Payment Blockage Periods may be commenced by the Administrative Agent pursuant to this paragraph (b).
Beginning with the third Payment Event of Default and continuing with each Payment Event of Default thereafter, the applicable Minimum Interest multiple will increase by 0.015 on the Payoff Date upon the occurrence of each such Payment Event of Default regardless of whether or not such Payment Event of Default is subsequently cured.
If the Borrower shall fail to reimburse the Issuing Lender as provided herein, the unreimbursed amount of such drawing shall constitute a Payment Event of Default and automatically bear interest at a per annum rate equal to the Default Rate subject to Section 2.8(b).
The applicable Minimum Interest multiple will be increased regardless of whether Lender notifies Company of any Payment Event of Default.
The failure or refusal of Company to pay any portion of the Obligations on the due date in accordance with the terms of the Transaction Documents (each, a “Payment Event of Default”); provided that, subject to Section 8.2 and Section 12.7 hereof, Company will have 15 days following the due date thereof to cure any such Payment Event of Default.

More Definitions of Payment Event of Default

Payment Event of Default any default in the payment of the Senior Obligations (whether upon maturity, mandatory prepayment, acceleration or otherwise) beyond any applicable grace period with respect thereto.

Payment Event of Default means a Default specified in Section 7.2.

Payment Event of Default means any default in the payment of Designated Senior Indebtedness.

Payment Event of Default. See §6.10.

Payment Event of Default means an Event of Default specified in Section 9.1(a).

Payment Event of Default means any Event of Default specified in Section 11.1(a) or (b). “PBGC” means the Pension Benefit Guaranty Corporation or any successor agency.

Payment Event of Default means an Event of Default under subsections (a) or (b) of Section 801 of the Mortgage Indenture, or, with respect to failures to make payment only, Section 4.01(d).