Wrongful Dishonor definition

Wrongful Dishonor means an uncured default by the Liquidity Provider of its obligations to honor a drawing as required pursuant to the terms of the applicable Liquidity Facility.

Wrongful Dishonor means (i) an uncured and willful default by the Credit Issuer, or (ii) an uncured default resulting from the gross negligence of the Credit Issuer, in each case, of its obligations to honor a drawing as required pursuant to the terms of the Credit Facility and the Credit Agreement.

Wrongful Dishonor means the failure of the Credit Facility Provider to honor a draw made in accordance with the terms of the Credit Facility (which draw strictly complies with, and conforms to, the terms and conditions of the Credit Facility).

Examples of Wrongful Dishonor in a sentence

• During any Construction Wrongful Dishonor, the application of Insurance/Condemnation Proceeds shall be solely as directed by the Freddie Mac.

• Prior to the Conversion Date and so long as no Construction Wrongful Dishonor is in existence, any provision of this Agreement (i) requiring the consent of Freddie Mac shall also require the consent of the Construction Phase Credit Facility Provider and (ii) permitting Freddie Mac to provide direction to the Trustee shall require the consent of the Construction Phase Credit Facility Provider.

• The Series 2014A Certificates shall be subject to mandatory tender for purchase upon the occurrence of a Wrongful Dishonor or the Letter of Credit has been repudiated by the Bank, which mandatory tender shall occur no later than fifteen days after the date of such Wrongful Dishonor or repudiation.

• Bank’s Liability to Customer for Wrongful Dishonor; Time of Determining Insufficiency of Account§ 4-402(c)A payor bank's determination of the customer's account balance on which a decision to dishonor for insufficiency of available funds is based may be made at any time between the time the item is received by the payor bank and the time that the payor bank returns the item or gives notice in lieu of return, and no more than one determination need be made.

• During any Construction Wrongful Dishonor, the application of Insurance/Condemnation Proceeds shall be solely as directed by the Trustee.

More Definitions of Wrongful Dishonor

Wrongful Dishonor means (i) an uncured and willful default by the Credit Facility Provider, or (ii) an uncured default resulting from the gross negligence of the Credit Facility Provider, in each case, of its obligations to honor a request for payment or a drawing made in accordance with the terms of the Credit Facility.

Wrongful Dishonor. If we mistakenly dishonor an item, we will be liable only for damages proximately caused by the wrongful dishonor of the item. TRANSFERS: Funds will be automatically transferred from your savings account to cover overdrafts, unless you requested otherwise, if funds are available and you are within the 6 allowed monthly per transfer limitation; otherwise, the checks may be returned for non- sufficient funds.

Wrongful Dishonor means (i) an uncured and willful default by the Credit Facility Provider, or (ii) an uncured default resulting from the gross negligence of the Credit Facility Provider, in each case, of its obligations to honor (a) as to the Initial Credit Facility Provider, a request for payment made in accordance with the terms of the Initial Credit Facility or (b) as to any other Credit Facility Provider, a drawing as required pursuant to the terms of the Alternate Security.

Wrongful Dishonor means the failure of Freddie Mac to honor a draw made in accordance with the terms of the Credit Enhancement Agreement (which draw strictly complies with, and conforms to, the terms and conditions of the Credit Enhancement Agreement).

Wrongful Dishonor means a failure by the Bank to honor any drawing made and presented pursuant to and in strict compliance with the Letter of Credit. The pledge of Mortgage Note A and the Leasehold Note and the pledge of the

Wrongful Dishonor means an uncured default by the Credit Issuer of its obligations to honor a drawing as required pursuant to the terms of the Credit Facility and the Credit Agreement.

Wrongful Dishonor means the failure of the Credit Facility Provider to honor a draw made in accordance with the terms of the Credit Facility (which draw complies with, and conforms to, the terms and conditions of the Credit Facility).