Principal Payment Default definition

Principal Payment Default is defined in Section 1.10 hereof.
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Principal Payment Default means, with respect to any Protected Asset, either (a) any failure by the Borrower thereunder to make all or a portion of any scheduled payment of principal due with respect to such Protected Asset pursuant to the terms of the Existing Loan Documents for such Protected Asset beyond any applicable notice or grace period or (b) any failure of the Borrower thereunder to make all or any portion of the principal payment due in respect of such Protected Asset upon acceleration of the principal due in respect of such Protected Asset pursuant to the terms of the Existing Loan Documents for such Protected Asset, including any Principal Payment Default pursuant to Section 2.4.1(a).
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Principal Payment Default is defined in Section 1.10 hereof. Table of Contents
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Examples of Principal Payment Default in a sentence

  • An event of Principal Payment Default shall occur if after the Maturity Date, the principal of the Note has been not paid in full.

  • Upon written notice to the Borrower by the Administrative Agent or the Required Lenders (or, in the case of an Event of Default under Section 9.1(j) or 9.1(k) hereof with respect to the Borrower or any Principal Payment Default, without notice), no Borrowing of LIBOR Loans shall be advanced, created by conversion or continued if any Event of Default then exists.

  • Whenever an Event of Principal Payment Default continues and has not remedied within 15 days, a Note Holder may deliver to the Company a request in writing that a part or all of Holder’s Notes be converted into the Company’s common stock at an adjusted conversion price equal to 50% of the common stock’s VWAP during the 15 days prior to date that the written conversion request was received by the Company.

  • Upon written notice to the Borrowers by the Administrative Agent or the Required Lenders (or, in the case of an Event of Default under Section 9.1(j) or 9.1(k) hereof with respect to any Borrower or any Principal Payment Default, without notice), no Borrowing of LIBOR Loans or CAD CDOR Loans shall be advanced or created by conversion, and no Borrowing of U.S. Dollar-denominated LIBOR Loans or CAD CDOR Loans shall be continued, if any Event of Default then exists.

  • The conversion price of the Note (“Conversion Price” or “CP”) is subject to adjustment for stock splits, dividends, and combinations.Event of Default: An event of Principal Payment Default shall occur if after the Maturity Date, the principal of the Note has been not paid in full.

  • So long as the Unrecovered Amount exceeds the Deductible, in the event any Principal Payment Default occurs in respect of any Protected Asset during the Protection Period with respect to such Protected Asset, the Seller shall pay to the Company, in accordance with Section 2.6.1 below, an amount equal to fifty percent (50%) of the product of (a) the Carrying Value Percentage for such Protected Asset, multiplied by (b) the amount of the Defaulted Principal Amount related to such Principal Payment Default.

  • As a result, the Inn was issued a Notice of Material Event and Event of Default from the bond trustee, which notified the Inn of an Interest and Principal Payment Default.

  • The selected financial data should be read in conjunction with the consolidated financial statements and notes thereto and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in our Annual Report on Form 10-K for the year ended December 31, 2001, filed with the SEC on March 29, 2002, and our Quarterly Report on Form 10-Q for the period ended June 30, 2002, filed with the SEC on August 9, 2002.

  • The Fiscal Agent shall not be deemed to have knowledge of, and shall not be required to take any action with respect to, any Event of Default other than an Event of Default described in Subsection (A) (Principal Payment Default) or (B) (Interest Payment Default) of Section 10.1 (Events of Default) unless a Responsible Officer of the Fiscal Agent shall have actual knowledge of such event.

  • Upon written notice to the Borrowers by the Administrative Agent or the Required Lenders (or, in the case of an Event of Default under Section 9.1(j) or 9.1(k) hereof with respect to any Borrower or any Principal Payment Default, without notice), no Borrowing of LIBORTerm SOFR Loans, EURIBOR Loans or CAD CDOR Loans shall be advanced or created by conversion, and no Borrowing of LIBORTerm SOFR Loans, EURIBOR Loans or CAD CDOR Loans shall be continued, if any Event of Default then exists.


More Definitions of Principal Payment Default

Principal Payment Default has the meaning set forth in clause (v) of Section 6.01.
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Principal Payment Default shall occur if either (1) after the Maturity Date, the principal and interest of the Note continues to have not been paid in full to the Note Holder or (2) whenever the Company has been delinquent at least 30 days in its required filings of all Forms 10-Q and 10-K with the U.S. Securities and Exchange Commission.
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Related to Principal Payment Default

  • 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.

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

  • 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).

  • 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.

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

  • 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)).

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.

  • Servicer Event of Default One or more of the events described in Section 7.01.

  • 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.

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

  • Amortization Event has the meaning specified in Article IX.

  • 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.

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

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

  • Master Servicer Event of Default One or more of the events described in Section 7.01.

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

  • Early Amortization Event means the occurrence of any of the following:

  • Acceleration Event means the occurrence of an Event of Default (a) in respect of which Agent has declared all or any portion of the Obligations to be immediately due and payable pursuant to Section 10.2, (b) pursuant to Section 10.1(a), and in respect of which Agent has suspended or terminated the Revolving Loan Commitment pursuant to Section 10.2, and/or (c) pursuant to either Section 10.1(e) and/or Section 10.1(f).

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

  • Default Repayment Date means the settlement date set out by the Bond Trustee in a Default Notice requesting early redemption of the Bonds.

  • 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).

  • Repayment Event means any event or condition which gives the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.