Termination Payment Default definition

Termination Payment Default is defined in Annexure 3. Traffic Commissioner: the individual responsible for the control and licensing of Public Service Vehicles for Great Britain and any persons carrying out duties on the Traffic Commissioner’s behalf with regard to these duties. Traveline: see Schedule N for detail. TUPE: the Transfer of Undertakings (Protection of Employment) Regulations 2006 (SI 2006/246), as amended.
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Termination Payment Default the Council’s failure to pay any undisputed Charges due to the Contractor within 60 days of the relevant invoice becoming due and payable. TUPE: the Transfer of Undertakings (Protection of Employment) Regulations 2006 (SI 2006/246). Unforeseen Event: any cause affecting the performance by a party of its obligations under the Contract arising from acts, events, omissions or non-events beyond its reasonable control, including acts of God, riots, war, acts of terrorism, fire, flood, storm or earthquake and any disaster, but excluding any industrial dispute relating to the Contractor, the Contractor’s Personnel or any other failure in the Contractor’s supply chain.
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Termination Payment Default where undisputed Charges of at least £100,000 have been overdue for payment by the Authority to the Service Provider for a period of 60 days or more. TUPE: the Transfer of Undertakings (Protection of Employment) Regulations 2006 (SI 2006/246). Working Day: Monday to Friday, excluding any public holidays in England and Wales.
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Examples of Termination Payment Default in a sentence

  • In the event that at any time undisputed Charges of £[AMOUNT] have been overdue for payment for a period of [60] days or more, the Authority will have committed a Termination Payment Default.

  • INCLUDE ANY MATTERS TO BE PARTICULARISED ON THE INVOICE Termination Payment Default In the event that at any time undisputed Charges of £[AMOUNT] have been overdue for payment for a period of [60] days or more, the Authority will have committed a Termination Payment Default.

  • Charges based on a fixed price [matrices to be included as relevant to the agreement with provider] Termination Payment Default In the event that at any time undisputed Charges of £20,000 have been overdue for payment for a period of 60 days or more, the Council will have committed a Termination Payment Default.

  • In the event that at any time undisputed Charges of £1000 have been overdue for payment for a period of 60 days or more, the Authority will have committed a Termination Payment Default.

  • In the event that at any time undisputed Charges of £1000 have been overdue for payment for a period of [60] days or more, the Authority will have committed a Termination Payment Default.

  • The Supplier may terminate this agreement in the event that the Authority commits a Termination Payment Default by giving 30 days' written notice to the Authority.

  • Also there are big disparities between the countries in terms of accommodation capacity and attractivity.

  • If the Council remedies the Termination Payment Default in the 30 day notice period, the Contractor’s notice to terminate the Contract shall be deemed to have been withdrawn.

  • In the event that the Authority remedies the Termination Payment Default in the thirty (30) day notice period, the Service Provider's notice to terminate this agreement shall be deemed to have been withdrawn.

  • The Contractor may terminate the Contract in the event that the Council commits a Termination Payment Default by giving 30 days’ written notice to the Council.


More Definitions of Termination Payment Default

Termination Payment Default means a default whereby any undisputed Charges have been overdue for payment for a period of 20 Working Days or more by the Customer. Website: the East Midlands Education Support Service Website (www.em- xxxxxxxxx.xxx.xx) Working Day: Monday to Friday, excluding any public holidays in England and Wales.
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Termination Payment Default is defined in Schedule 5. TUPE: the Transfer of Undertakings (Protection of Employment) Regulations 2006 (SI 2006/246). Working Day: Monday to Friday, excluding any public holidays in England and Wales.
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Termination Payment Default means an amount in excess of £1,000,000 is overdue for payment by the Councils for more than 2 Months and the amount is undisputed by the Councils; Unavailable means not complying with the Delivery Point Assessment Criteria or the HWRC Availability Criteria (as relevant); Unavailability Deduction in respect of HWRCs and/or project transfer stations (being Clover Nook, Glossop and Raynesway for which have a fixed payment) not being Available in accordance with the requirements of the Specification Uninsurable In relation to a risk either that: (a) insurance is not available to the Contractor in respect of the Services, NWTF Services, the Councils’ Premises and/or the Sinfin Site in the worldwide insurance market with reputable insurers of good standing in respect of that risk; or (b) the insurance premium payable for insuring the risk is at such a level that the risk is not generally being insured against in the worldwide market with reputable insurers of good standing by contractors in the United Kingdom; WCA has the meaning given to it in the PPP Contract; and Works has the meaning given to it in the PPP Contract.
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Related to Termination 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.

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

  • Termination Payment Date means the earlier of the first Distribution Date following the liquidation or sale of the Receivables as a result of an Insolvency Event and the occurrence of the Scheduled Series 1995-1 Termination Date.

  • Termination Payment has the meaning set forth in Section 6.03.

  • 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)).

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

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

  • 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.

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

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

  • Material Event of Default means any Event of Default arising under Section 10.01(a), 10.01(b) (solely with respect to a default related to Section 8.01, 8.20 or 9.13), 10.01(f), 10.01(i), 10.01(j), 10.01(n) or 10.01(o).

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

  • Termination Fee Event has the meaning ascribed thereto in Section 5.2(a);

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

  • 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.

  • Additional Default means any provision contained in any document or instrument creating or evidencing Indebtedness of the Borrower or any of its Subsidiaries which permits the holder or holders of such Indebtedness to accelerate (with the passage of time or giving of notice or both) the maturity thereof or otherwise requires the Borrower or any of its Subsidiaries to purchase such Indebtedness prior to the stated maturity thereof and which either (i) is similar to any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement, but contains one or more percentages, amounts or formulas that is more restrictive or has a xxxxxxx xxxxx period than those set forth herein or is more beneficial to the holder or holders of such other Indebtedness (and such provision shall be deemed an Additional Default only to the extent that it is more restrictive or more beneficial) or (ii) is different from the subject matter of any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement.

  • Swap Termination Payment Upon the designation of an “Early Termination Date” as defined in the Swap Agreement, the payment to be made by the Swap Administrator to the Swap Provider from payments from the Trust Fund, or by the Swap Provider to the Swap Administrator for payment to the Trust Fund, as applicable, pursuant to the terms of the Swap Agreement.

  • Servicer Event of Default wherever used herein, means any one of the following events:

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

  • Swap Termination Event means the occurrence of a “Termination Event” under the Swap Agreement, as defined in the Swap Agreement.]

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.

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

  • Additional Termination Event has the meaning specified in Section 5(b).

  • Termination Event means an Illegality, a Tax Event or a Tax Event Upon Merger or, if specified to be applicable, a Credit Event Upon Merger or an Additional Termination Event.