Reimbursement Default definition

Reimbursement Default means any event or condition which constitutes a Reimbursement Event of Default or which with the giving of notice or the lapse of time or both would, unless cured or waived, become a Reimbursement Event of Default.
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Reimbursement Default means any Default (as defined in the Reimbursement Agreement) under the Reimbursement Agreement.
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Reimbursement Default as defined in the Letter of Credit Reimbursement Agreement.
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Examples of Reimbursement Default in a sentence

  • Notices of any Reimbursement Default shall be sent by the Company to the Administrative Agent by facsimile transmission.

  • Without limiting the generality of the foregoing, the Issuing Bank shall not be required to take any action with respect to any Reimbursement Default, except as expressly provided in Section 9 hereof.

  • Without limiting the generality of the foregoing, neither the Administrative Agent nor the Issuing Bank shall be required to take any action with respect to any Reimbursement Default, except as expressly provided in Section 9 hereof.

  • For each day that any Reimbursement Obligation remains unpaid, interest shall accrue on such amounts at an aggregate rate per annum equal to five percent (5%) above the Reference Rate (the "Reimbursement Default Rate"), based on the actual number of days elapsed in a year of 360 days.

  • Under all circumstances, a Rent Default and a Reimbursement Default be deemed to be an Event of Default for which a cure is possible.

  • So long as no Reimbursement Default, Reimbursement Event of Default, Lease Default or Lease Event of Default shall have occurred and be continuing at such time, the O&M Letter of Credit shall be amended on December 31, 1999 to increase the stated amount to $2,000,000 and shall be amended on December 31, 2000 to increase the stated amount to $5,000,000 in accordance with the terms of the Power Purchase Agreement.

  • No Reimbursement Default or Reimbursement Event of Default has occurred and is continuing.