Borrower Payment Default Clause Samples

Borrower Payment Default. The Borrower shall fail to (A) pay when due any part of the principal amount of or interest on the WIFIA Loan (including WIFIA Debt Service required to have been paid pursuant to the provisions of Section 8 (Payment of Principal and Interest)) or (B) make any mandatory prepayment required pursuant to the provisions of Section 9 (Prepayment), in each case when and as the payment thereof shall be required under this Agreement or the WIFIA Note or on the Final Maturity Date (each such failure, a “Borrower Payment Default”).