TRUSTEE DEFAULT definition

TRUSTEE DEFAULT has the same meaning as in the Note Trust Deed.
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TRUSTEE DEFAULT means the occurrence of any events specified in clause 19.1.
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TRUSTEE DEFAULT means (i) any event specified in Clause 18 of the Trust Deed, (ii) any representation, warranty, certification or statement made by NZGT or Trustee Performance Guarantor under this Agreement or any other Transaction Document or in any agreement, certificate, report, appendix, schedule or document furnished by NZGT or Trustee Performance Guarantor to any Lender or Agent pursuant to or in connection with this Agreement or any other Transaction Document shall prove to have been incorrect in any material respect as of the time made or deemed made (including by omission of material information necessary to make such representation, warranty, certification or statement not materially misleading), (ii) NZGT or Trustee Performance Guarantor shall default or fail in the performance or observance of any covenant, agreement or obligation applicable to it contained herein, in the Trust Deed, Trustee Performance Undertaking or in the other Principal Transaction Documents to which it is a party or (iii) an Insolvency Event shall occur with respect to the Trustee Performance Guarantor. The parties agree that any such misrepresentation, default, failure or Insolvency Event described in clauses (ii), (iii) and (iv) of the previous sentence shall also be deemed a “Trustee Default” for the purposes of Clause 18.1(f) of the Trust Deed.
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Examples of TRUSTEE DEFAULT in a sentence

  • If, in accordance with the Master Security Trust Deed, the Security Trustee voluntarily retires, mandatorily retires (other than pursuant to a notice given in the circumstances outlined under “Mandatory retirement on request” above) or is removed due to a Security Trustee Default, the costs of the retirement or removal (as applicable) and replacement of the Security Trustee will be borne by the Security Trustee.

  • The Issuer has agreed to pay such amounts within 5 Business Days of demand from the Security Trustee, however such amounts are not payable to the extent they are a result of a Security Trustee Default.

  • Removal for Security Trustee Default If a Security Trustee Default occurs, the Trust Manager (acting on the instructions of the Sub-Trust Manager) may by written notice to the Security Trustee remove the Security Trustee from office as security trustee of the Security Trust provided that it gives 5 Business Days prior written notice of the proposed termination and appoints a successor Security Trustee.

  • Removal for Security Trustee DefaultIf a Security Trustee Default occurs, the Trust Manager (acting on the instructions of the Sub-Trust Manager) may by written notice to the Security Trustee remove the Security Trustee from office as security trustee of the Security Trust provided that it gives 5 Business Days prior written notice of the proposed termination and appoints a successor Security Trustee.

  • No attorney, agent or other person appointed in accordance with this deed or any other Transaction Document has authority to act on behalf of the Trustee in a way which exposes the Trustee to any personal liability, and no act or omission of such a person will be considered a Trustee Default for the purposes of paragraph (f).

  • The restrictions in paragraphs (c) and (d) do not apply to any Trustee Liability to the extent to which there is, whether under this deed or by operation of law, a reduction in the extent of the Trustee's indemnification, or in respect of which the Trustee is not entitled to be indemnified, out of the property of the Trust Fund, as a result of a Trustee Default.

  • The Trustee and Authority hereby waive: (i) all Defaults; and (ii) all defaults or Events of Defaults caused by the Company under the Program Documents up through the effective date hereof, not identified in the Trustee Default Notice or Authority Default Notice (the “Authority Waiver”).

  • No attorney, agent or other person appointed in accordance with this deed or any other Transaction Document has authority to act on behalf of the Trustee in a way which exposes the Trustee to any personal liability, and no act or omission of such a person will be considered a Trustee Default for the purposes of paragraph (e).

  • The restrictions in paragraphs (b), (c) and (d) do not apply to any Trustee Liability to the extent to which there is, whether under this deed or by operation of law, a reduction in the extent of the Trustee's indemnification, or in respect of which the Trustee is not entitled to be indemnified, out of the property of the Trust Fund, as a result of a Trustee Default.

  • Trustee Default means, in respect of the Trustee, fraud, gross negligence, wilful default or breach of section 283DA(a), (b) or (c) of the Corporations Act provided that no act or omission of the Trustee (including any related failure to comply with its obligations or breach of a representation or warranty under this Trust Deed) will be considered a Trustee Default to the extent to which the act or omission was caused by any failure by Suncorp to comply with its obligations under this Trust Deed or at law.


More Definitions of TRUSTEE DEFAULT

TRUSTEE DEFAULT means an event specified in clause 25.1 of the Master Trust Deed.
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TRUSTEE DEFAULT. Any event which, due to the passage of time or giving of --------------- notice or both, will become a Trustee Event of Default if not cured.
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TRUSTEE DEFAULT has the meaning set forth in Section 10.09.
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Related to TRUSTEE DEFAULT

  • Indenture Default means any condition, circumstance, act or event that, with the giving of notice, the lapse of time or both, would constitute an Indenture Event of Default.

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

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

  • 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.

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

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

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

  • 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.

  • Servicer Default means an event specified in Section 8.01.

  • Servicing Default The meaning assigned in Section 6.01 of the Servicing Agreement.

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

  • Special Default means (i) the failure by Owner to pay any amount of principal of or interest on any Equipment Note when due or (ii) the occurrence of any Default or Event of Default referred to in Section 5.01(v), (vi) or (vii).

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

  • 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.

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

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

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

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

  • 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):

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

  • Senior Default means any Senior Payment Default or Senior Covenant Default.

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

  • Owner Event of Default has the meaning specified in Section 16.2.

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

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

  • 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).