Purchase Agreement Default definition

Purchase Agreement Default means any material misrepresentation or breach of warranty made by a Party, or the failure of a Party to observe or perform, in any material respect any of the covenants or agreements to be performed by such Party under this Agreement;
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Purchase Agreement Default means any material misrepresentation or breach of warranty made by a party to this Agreement, or the failure of a party to this Agreement to perform or observe in any material respect any of the covenants or agreements to be performed by such party under this Agreement or any agreement or other certificate or instrument delivered in connection herewith;
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Purchase Agreement Default means any event or circumstance which does or would, upon the giving of notice and/or expiry of the relevant period and/or fulfilment of any other condition, entitle the Manufacturer to terminate all or part of the Purchase Agreement in accordance with the provisions thereof;
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Examples of Purchase Agreement Default in a sentence

  • If this Agreement is terminated pursuant to Section 8.1 and the event giving rise to the termination is not due to the Purchase Agreement Default of the Purchaser, then the Deposit provided for in Section 2.4 shall be returned to the Purchaser, together with Deposit Interest earned thereon.

  • Collateral Agent shall provide SCE with reports concerning the status of efforts to cure a Resource Adequacy Purchase Agreement Default upon SCE’s reasonable request.

  • Collateral Agent acknowledges that delivery of such notice, request and demand shall satisfy SCE’s obligation to give Collateral Agent a notice of Resource Adequacy Purchase Agreement Default under Section 1.3. Collateral Agent shall deliver to SCE, concurrently with delivery thereof to Project Company, a copy of each notice, request or demand given by Collateral Agent to Project Company pursuant to the Financing Documents relating to a default by Project Company under the Financing Documents.

  • Upon such assignment and the cure of any outstanding Resource Adequacy Purchase Agreement Default, and payment of all other amounts due and payable to SCE in respect of the Resource Adequacy Purchase Agreement or such Replacement Resource Adequacy Purchase Agreement, the transferor shall be released from any further liability under the Resource Adequacy Purchase Agreement or Replacement Resource Adequacy Purchase Agreement, as applicable.

  • Quinn moved, Preston seconded based upon the findings of fact and statute/rule violations identified in the investigative report, deny certification.

  • However, if the Agreement is terminated pursuant to Section 8.1 prior to Closing as a result of a Purchase Agreement Default by the Purchaser, then such Deposit, together with the interest earned thereon, may be retained by the Vendor as a genuine pre-estimate of the Vendor's liquidated damages and not as a penalty and in such event the Vendor shall have no further claim against the Purchaser hereunder, including for greater certainty for consequential damages or loss of profits.

  • Prior to Closing, no Party may assign its interest in or under this Agreement without the prior written consent of the other Parties, provided however that the Purchaser may assign its interest in or under this Agreement to an Affiliate without the prior written consent of the Vendors providing however that the Purchaser shall continue to be liable to the Vendors in the event of a Purchase Agreement Default by such assignee.

  • The Purchaser shall promptly notify the Seller and the Trustee in writing of any Purchase Agreement Default.

  • However, if the Agreement is terminated pursuant to Section 10.4 prior to Closing as a result of a Purchase Agreement Default by the Purchaser, then such Deposit, together with the Deposit Interest earned thereon, shall be retained by the Vendors and applied by the Vendors as their sole remedy on account of their damages contemplated by Section 8.2 as a genuine pre-estimate of the Vendors' minimum liquidated damages and not as a penalty.

  • However, if the Agreement is terminated pursuant to Section 10.4 prior to Closing as a result of a Purchase Agreement Default by the Purchaser, then such Deposit, together with the Deposit Interest earned thereon, shall be retained by the Vendor and applied by the Vendor as its sole remedy on account of its damages contemplated by Section 8.2 as a genuine pre-estimate of the Vendor's minimum liquidated damages and not as a penalty.


More Definitions of Purchase Agreement Default

Purchase Agreement Default means any material misrepresentation or breach of warranty made by a Party, or the failure of a Party to perform or observe in any material respect any of the material covenants or agreements to be performed by such Party under this Agreement or any agreement or other Certificate or instrument delivered in connection herewith, and includes the obligations set forth in Section 6.3.
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Related to Purchase Agreement Default

  • 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.

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

  • Incipient Default means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default.

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

  • 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.

  • Insurance Agreement Event of Default means an "Event of Default" as defined in the Insurance Agreement.

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

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

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

  • Additional Purchase Agreement means each Additional Purchase Agreement (including the related Additional Xxxx of Sale, the related Blanket Endorsement and any attachments thereto), substantially in the form of Attachment C hereto (of which these Master Terms form a part by reference, provided that in the event of a substitution, the form will be modified accordingly), to be executed by SLM ECFC, Funding and the Interim Eligible Lender Trustee for the benefit of Funding, which certifies that the representations and warranties made by SLM ECFC as set forth in Sections 5(A) and (B) of these Master Terms are true and correct as of the related Purchase Date.

  • 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.

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

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

  • 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.

  • 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.

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

  • 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).

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

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

  • Event of Default Under the Trust Indenture With respect to any MBS, any “Event of Default” under the Trust Indenture pursuant to which such MBS was issued. Xxxxxx Xxx: Federal National Mortgage Association, a body corporate organized and existing under the laws of the United States, or its successor in interest or any successor appointed as herein provided. Unless the context requires otherwise, the term “Xxxxxx Mae” shall be deemed to refer to the Federal National Mortgage Association acting in its corporate capacity and not in its capacity as Trustee hereunder.

  • 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)).

  • Event of Default has the meaning specified in Section 8.01.

  • Debenture Event of Default means an "Event of Default" as defined in the Indenture.

  • Master Repurchase Agreement means the Master Repurchase Agreement of even date herewith between the Trust and Bear, Xxxxxxx & Co. Inc. as it may from time to time be amended.

  • Original Purchase Agreement has the meaning set forth in the recitals to this Agreement.

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