Capital Default definition

Capital Default means a default by a Dealer pursuant to a CNHi Dealer Agreement.

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Capital Default shall have the meaning set forth in Section 4.5 hereof.

Capital Default means any failure by a Partner to pay in full when due (after the expiration of any cure period) any Capital Contribution.

Examples of Capital Default in a sentence

Upon a Capital Default, or if for any reason CNHi Capital deems itself insecure with respect to financing being provided to a Dealer, CNHi Capital may place Dealer's Open Account on Stop Ship status.
Upon a Capital Default or if for any reason CNHi Capital deems itself insecure with respect to financing being provided to a Dealer, CNHi Capital may place such Dealer on a status of Credit Watch.
Upon a Capital Default, or if for any reason CNHi Capital deems itself insecure with respect to financing being provided to a Dealer, CNHi Capital may place such Dealer on a status of Credit Watch.
Upon a Capital Default or if for any reason CNHi Capital deems itself insecure with respect to financing being provided to a Dealer, CNHi Capital may place such Dealer’s Open Account on Stop Ship status.
Interest on a Capital Default Loan to the extent unpaid shall accrue and compound monthly.
While any Capital Default Loan is outstanding, notwithstanding anything in this Agreement to the contrary, all distributions to the Capital Defaulting Member hereunder shall be applied first to payment of any interest due under any Capital Default Loan and then to principal until all amounts due thereunder are paid in full.
All payments made in repayment of any Capital Default Loan shall be applied first toward payment of unpaid accrued interest and then (if any remains) toward payment of principal.
A Capital Default Loan shall be prepayable at any time or from time to time without penalty.
Any Capital Default Loan shall bear interest at a rate equal to 15% per annum and shall be payable from any distributions due the Capital Defaulting Member hereunder, but shall in all events be payable in full by the ninetieth (90th) day following the date such Capital Default Loan was made.
Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall bear interest at a rate per annum which is five percentage points (5.00%) above the rate that is otherwise applicable thereto (the “Growth Capital Default Rate”) unless the Bank otherwise elects from time to time in its sole discretion to impose a smaller increase.

More Definitions of Capital Default

Capital Default is defined in Section 3.4(a).

Capital Default means a default by a Dealer pursuant to a CNH Dealer Agreement.

Capital Default means, with respect to any Member, the failure of such Member to fund, prior to the applicable Deadline Date, its then Contribution Percentage of the amount specified in a Contribution Notice as required under the last sentence of Section 7.2(c).

Capital Default has the meaning set forth in Section 12.1(a)(i).

Capital Default is defined in Section 11.1(c).