Payment Failure definition

Payment Failure means a failure by the Generator to pay a Net Payable Amount in accordance with Condition 23.1 (except to the extent that such failure is due to the occurrence of a Payment Disruption Event and the Generator, as the PDE Affected Party, has complied with Condition 68.2 but irrespective of whether or not the Generator has paid any such Net Payable Amount within the applicable NPA Payment Cure Period);

Payment Failure has the meaning set forth in Section 6.3(a).

Payment Failure has the meaning set forth in Section 10.2(a).

Examples of Payment Failure in a sentence

• Each of Party A and Party B agrees that a breach of any representation or obligation under this Agreement, other than a Payment Failure, will not constitute an event of default, termination event or similar event (howsoever described) for the purposes of this or any other agreement, and that the sole remedy in respect of such a breach will, without prejudice to Sections 2(b) and 3(a), be pursuant to Section 3(b).

• Each of Party A and Party B agrees that, in respect of a Payment Failure, for the purposes of the Default Under Specified Transaction Event of Default, as defined in and pursuant to any applicable Derivatives Agreement, this Agreement will be deemed to be a Specified Transaction and the scheduled payment date of the relevant payment will be deemed to be the last payment date of such Specified Transaction.

More Definitions of Payment Failure

Payment Failure means any failure by the Corporation to pay (or set aside for payment): (i) any dividends in respect of any Share of Variable Cumulative Preferred Stock which have accumulated during any Dividend Period applicable to such Share on the last Dividend Payment Date with respect to such Dividend Period or (ii) the redemption price in respect of Shares of Variable Cumulative Preferred Stock called for redemption on the date of redemption, provided that, in the case of either clause (i) or (ii) above, such failure shall continue unremedied for more than three Business Days.

Payment Failure has the meaning set out in Section 18.4.

Payment Failure has the meaning set out in Section 14.03(a).

Payment Failure means a failure by the Company to pay to the Holders on or within three Business Days (i) after any Dividend Payment Date, the full amount of any dividends to be paid on such Dividend Payment Date on any share of the Series A Stock or (ii) after any redemption date, the redemption price to be paid on that redemption date on any share of the Series A Stock with respect to which a notice of redemption has been given.

Payment Failure means in respect of a party to this Agreement, a failure by such party to make, when due, any payment under this Agreement.

Payment Failure means a failure by the Emitter to pay any Net Payable Amount in accordance with Condition 12.1, Condition 12.2 or Condition 12.3 (Payment from Emitter) (as applicable) (except to the extent that such failure is due to the occurrence of a Payment Disruption Event and the Emitter, as the PDE Affected Party, has complied with Condition 55.2 (Conditions to Payment Disruption Event relief) but irrespective of whether or not the Emitter has paid any such OP Net Payable Amount within the applicable NPA Payment Cure Period);

Payment Failure means a failure by the Emitter to pay any Net Payable Amount in accordance with Condition 13.1, Condition 13.2 or Condition 13.3 (Payment from Emitter) (as applicable) (except to the extent that such failure is due to the occurrence of a Payment Disruption Event and the Emitter, as the PDE Affected Party, has complied with Condition 55.2 (Conditions to Payment Disruption Event relief) but irrespective of whether or not the Emitter has paid any such OP Net Payable Amount within the applicable NPA Payment Cure Period);