Examples of Senior Payment Default in a sentence
Payor may resume payments hereunder at the end of the Payment Blockage Period unless a Senior Payment Default then exists.
Payor shall promptly provide written notice to Payee regarding the occurrence or termination of a Senior Payment Default.
Indemnitor shall promptly provide written notice to Indemnitee regarding the occurrence or termination of a Senior Payment Default.
Indemnitor may resume payments hereunder at the end of the Payment Blockage Period unless a Senior Payment Default then exists.
The term "Senior Nonmonetary Default" shall mean the occurrence or existence of any event, circumstance, condition or state of facts that, by the terms of any instrument pursuant to which any Senior Indebtedness is outstanding, permits one or more holders of such Indebtedness (or a trustee or agent on behalf of the holders thereof) to declare such Senior Indebtedness due and payable prior to the date on which it would otherwise become due and payable, other than a Senior Payment Default.