Default Condition Clause Samples
POPULAR SAMPLE Copied 2 times
Default Condition. The occurrence or existence of an event or condition which, upon the giving of notice or the passage of time, or both, would constitute an Event of Default.
Default Condition. The occurrence of any event which, after satisfaction of any requirement for the giving of notice or the lapse of time, or both, would become an Event of Default.
Default Condition. If UP fails to meet its Service Performance Standards in any period of three consecutive Calendar Months or five Calendar Months in any twelve consecutive Calendar Months, UP will be in default of its Service Performance Standards ("Default Condition"). APL is not required to notify UP of this Default Condition.