Securities Default definition

Securities Default means if XRP is determined on an official basis (including without limitation by settlement) by the U.S. Securities and Exchange Commission (or (1) another governmental authority or (2) a governmental agency of similar stature and standing) to constitute a security on a current and going forward basis (and not, for the avoidance of doubt, a determination that XRP was a security in the past).7
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Securities Default means, in respect of any of the Securities, an “Event of Default” as defined in the terms and conditions of such Securities.
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Examples of Securities Default in a sentence

  • An Underlying Securities Default shall be deemed to have occurred for all purposes notwithstanding the rescission or annulment of such declaration of acceleration under such Underlying Securities or the subsequent payment (after such applicable grace period) of such overdue principal or interest.

  • Yavas (2016): “Servicers and Mortgage- Backed Securities Default: Theory and Evidence,” Real Estate Economics, 44, 462–489.

  • Notice of Securities Default (1:30 PM of T+3 or end of settlement run) This notice shall be issued to the affected Clearing Member/s to inform such Clearing Member(s) of the unsettled Contract and to give assurance that the fail is being properly addressed by SCCP’s Fails Management System.

  • On March 5, the Court issued its opinion denying Tetragon’s injunction motion relief and dissolving the TRO.The Court concluded that the plain language of the Securities Default provision reads as Ripple has asserted, and that the SEC has not determined XRP’s status on an official basis.

  • If copies of records are requested, these must be requested from the EEP Main Office.6. The last name and any diagnostic information on children is to be kept strictly confidential.

  • Tetragon argues a Securities Default can be an SEC determination within its own theater.

  • An end user account is a record for message-billed service or a bulk-billed service which has a unique name and address and billing identification number, assigned by the Company, to which a bill is rendered.

  • But a determination within the SEC’s theater, which does not adjudicate whether XRP is a security beyond the SEC, is not a Securities Default under the Agreement’s plain language.

  • As Ripple explained to Tetragon before the lawsuit was filed, the enforcement action is not a Securities Default because it merely shows that the SEC has put the question of whether XRP is a security to a Court to decide.

  • That determination can be made by the SEC or by and going forward basis” to only this narrow meaning, added “for the avoidance of doubt.” While a determination that XRP was a security in the past is not a Securities Default, the “determination” in Section 5.4 still must construe XRP’s “current and going forward” status.

Related to Securities Default

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • 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).

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

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Non-Monetary Default shall have the meaning assigned to such term in Section 11(d).

  • 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.

  • Reporting Default means a Default described in Section 6.01(d).

  • Default Under the Trust Indenture With respect to any MBS, any condition, occurrence or event which, if continued for any specified period of time after the giving of any requisite notice, would be an “Event of Default” under the Trust Indenture pursuant to which such MBS was issued.

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

  • Bank Default means (i) the refusal (which has not been retracted) of a Bank to make available its portion of any Borrowing or to fund its portion of any unreimbursed payment under Section 2.03(c) or (ii) a Bank having notified in writing the Borrower and/or the Agent that it does not intend to comply with its obligations under Section 1.01 or Section 2, in the case of either clause (i) or (ii) as a result of any takeover of such Bank by any regulatory authority or agency.

  • Monetary Default shall have the meaning assigned to such term in Section 11(a).

  • 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.

  • Financing Default means an event which would constitute (or with notice or lapse of time or both would constitute) an event of default (which event of default has not been cured) under or would otherwise violate or breach (i) any financing arrangement of the Company or any of its Subsidiaries in effect as of the time of the aforementioned event, and any extensions, renewals, refinancings or refundings thereof in whole or in part; and (ii) any provision of the Company's or any of its Subsidiary's constitutional documents.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Bond Event of Default means the occurrence of any of the following (or such event or condition which with notice or lapse of time or both would constitute any of the following):

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

  • Delisting Event means any time during the term of this Investment Agreement, that the Company's Common Stock is not listed for and actively trading on the O.T.C. Bulletin Board, the Nasdaq Small Cap Market, the Nasdaq National Market, the American Stock Exchange, or the New York Stock Exchange or is suspended or delisted with respect to the trading of the shares of Common Stock on such market or exchange.

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

  • Financial Default means the total cessation or partial suspension of operations due to insolvency, with or without the filing of a bankruptcy petition by a tour operator, Cruise line, or airline.

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

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

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Bankruptcy Default has the meaning assigned to such term in Section 6.01.

  • 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.

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

  • Specified Event of Default means any Event of Default under Section 8.01(a), (f) or (g).