Underlying Securities Payment Default definition

Underlying Securities Payment Default. Not Applicable. Applicable. (x) "Underlying Securities Bankruptcy Default" Not Applicable. Applicable.
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Underlying Securities Payment Default means the occurrence of an Underlying Securities Event of Default relating to the payment of interest on the Underlying Securities or the payment of principal of or premium, if any, on the Underlying Securities when due.
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Underlying Securities Payment Default means the failure by the Underlying Securities Issuer to pay any distribution or any redemption price with respect to the Underlying Securities within any applicable grace period after the same shall become due. Terms used herein and not otherwise defined shall have the meaning ascribed to them in the Trust Agreement. The parties executing this Schedule have executed the Master Agreement and have agreed as to the contents of this Schedule. LEHMAN BROTHERS SPECIAL FINANCING INC. By: ------------------------------------ Name: Title: CORPORATE-BACKED TRUST CERTIFICATES, GOLDMAN SACHS CAPITAL I SECURITIES-BACKED XXXXES 2004-6 TRUST By: U.S. Bank Trust National Association, not in its individual capacity but solely as Trustee under the Trust Agreement By: ------------------------------------ Name: Title: EXHIBIT A TO SCHEDULE FORM OF CONFIRMATION Confirmation ------------ DATE: March 19, 2004 TO: Corporate-Backed Trust Certificates, Goldman Sachs Capital I Securities-Backed Series 2004-0 Xxxxx XXXX: Lehman Brothers Special Financing Inc. SUBJECT: INTEREST RATE XXXX XRANSACTION To U.S. Bank Trust National Association, as Trustee: The purpose of this communication is to set forth the terms and conditions of the transaction entered into on the Trade Date referred to below (the "Transaction"), between Lehman Brothers Special Financing Inc. ("Party A") and Corporate-Baxxxx Xrust Certificates, Goldman Sachs Capital I Securities-Backed Series 2004-6 Trust ("Parxx X"), x xxxst created under the laws of the State of New York pursuant to that certain Series Trust Agreement (the "Series Supplement"), dated March 19, 2004, which incorporates the Standard Terms for Trust Agreements (collectively, the "Trust Agreement"). This communication constitutes a "Confirmation" as referred to in the Master Agreement specified below.
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More Definitions of Underlying Securities Payment Default

Underlying Securities Payment Default has the meaning specified in the Trust Agreement.
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Underlying Securities Payment Default if there is a failure by the Underlying Securities Issuer to make, when due, the payment of any distribution on the Underlying Securities or any applicable redemption price of the Underlying Securities or the payment of principal of or any make whole amount, if any, on the Underlying Securities and non-payment shall continue for a period of five business days.
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Underlying Securities Payment Default means the failure by the Underlying Securities Issuer to pay interest or principal with respect to the Underlying Securities within any applicable grace period after the same shall become due. Terms used herein and not otherwise defined shall have the meaning ascribed to them in the Trust Agreement. The parties executing this Schedule have executed the Master Agreement and have agreed as to the contents of this Schedule. LEHMAN BROTHERS SPECIAL FINANCING INC. By: ---------------------------------- Name: Title: CORPORATE-BACKED TRUST CERTIFICATES, DAIMLERCHRYSLER DEBENTURE-BACKED SERIES 2004-3 TRUST By: U.S. Bank Trust National Association, not in its individual capacity but solely as Trustee under the Trust Agreement By: ---------------------------------- Name: Title: EXHIBIT A TO SCHEDULE FORM OF CONFIRMATION Confirmation ------------ DATE: February 11, 2004 TO: Corporate-Backed Trust Certificates, DaimlerChrysler Debenture-Backed Series 2004-3 Trust FROM: Lehman Brothers Special Financing Inc. SUBJECT: INTEREST RATE SWAP XXXXXACTION To U.S. Bank Trust National Association, as Trustee:
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Related to Underlying Securities 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.

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

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

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

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

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

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

  • Specified Event of Default means an Event of Default under Section 7.01(a), (b), (h) or (i).

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

  • Early Amortization Event means the occurrence of any of the following:

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

  • Liquidity Event of Default means the occurrence of either (a) the Acceleration of all of the Equipment Notes or (b) an American Bankruptcy Event.

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

  • 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 Issuer Event of Default means any condition, event or act which, with the lapse of time and/or the issue, making or giving of any notice, certification, declaration, demand, determination and/or request and/or the taking of any similar action and/or the fulfilment of any similar condition, would constitute an Issuer Event of Default;

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

  • Senior Event of Default means an Event of Default under a Senior Financing 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).

  • Company Event of Default bears the meaning ascribed thereto in Section 13.1; “Company Notice of Default” bears the meaning ascribed thereto in Section 13.2;

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

  • Unmatured Event of Default means any event that, if it continues uncured, will, with lapse of time, notice or lapse of time and notice, constitute an Event of Default.

  • Credit Default Swap means any credit default swap entered into as a means to (i) invest in bonds, notes, loans, debentures or securities on a leveraged basis or (ii) hedge the default risk of bonds, notes, loans, debentures or securities.

  • 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)).

  • 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):