Conditional Default definition

Conditional Default means any condition, event, act or omission which, with the giving of notice or passage of time or both, would constitute an Event of Default.
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Conditional Default means an event or condition which, with the passage of time, the giving of notice, or a determination by the Bank, as provided herein, or any combination of the foregoing, would constitute an Event of Default [as defined in the Construction Loan Agreement of even date herewith between the Borrower and the Bank (the "Construction Loan Agreement")].
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Examples of Conditional Default in a sentence

  • Immediate notice by telephone, promptly confirmed in writing, of any event, action or failure to take any action which constitutes an Event of Default or Conditional Default.

  • No Event of Default or Conditional Default shall have occurred and be continuing or shall exist.

  • Immediate notice by telephone, promptly confirmed in writing, of any event, action or failure to take any action which constitutes an (i) Event of Default or Conditional Default or (ii) an “event of default” under the Ordinance or any Related Document to which the City is a party.

  • No Default and no Conditional Default has occurred and is continuing or exists.

  • Planning for offshore uses remains the task of different national sector institutions which to different degree seek a cross-sector consultation.

  • All protective orders, whether assented to or not, must be approved by the court.](b) [(c)] If a motion for a protective order is denied in whole or in part, the court may, on such terms and conditions as are just, order that any party or person provide or permit discovery.(c) [(d)] Conditional Default.

  • Promptly upon becoming aware thereof, notice by telephone, promptly confirmed in writing, of any event, action or failure to take any action which constitutes a Default or Conditional Default.

  • If you’re replacing your ELD system in addition to rolling out dash cams, your stakeholders may even include team members from different departments, like maintenance or compliance.At this stage, it’s important to identify a key decision maker.

  • Jun Chen and Yongheng Deng, (2013) “Commercial Mortgage Workout Strategy and Conditional Default Probability: Evidence from Special Serviced CMBS Loans,” Journal of Real Estate Finance and Economics, 46 (4), 609-632.

  • Monthly Conditional Default Rate July 2013 to December 2013.0025 .003 .0035 .004 .0045-20 -10 0 10 20Endorsement Date of Original Loan (Business Days in Relation to Cutoff)-20 -10 0 10 20Endorsement Date of Original Loan (Business Days in Relation to Cutoff)Note: Dots are average values by endorsement date of original loan.

Related to Conditional Default

  • Additional Default means any provision contained in any document or instrument creating or evidencing Indebtedness of the Borrower or any of its Subsidiaries which permits the holder or holders of such Indebtedness to accelerate (with the passage of time or giving of notice or both) the maturity thereof or otherwise requires the Borrower or any of its Subsidiaries to purchase such Indebtedness prior to the stated maturity thereof and which either (i) is similar to any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement, but contains one or more percentages, amounts or formulas that is more restrictive or has a xxxxxxx xxxxx period than those set forth herein or is more beneficial to the holder or holders of such other Indebtedness (and such provision shall be deemed an Additional Default only to the extent that it is more restrictive or more beneficial) or (ii) is different from the subject matter of any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement.

  • Special Default means (i) the failure by Owner to pay any amount of principal of or interest on any Equipment Note when due or (ii) the occurrence of any Default or Event of Default referred to in Section 5.01(v), (vi) or (vii).

  • Potential Default means the occurrence of any event or condition which, with the giving of notice, the passage of time, or both, would constitute an Event of Default.

  • Financial Default means the total cessation or partial suspension of operations due to insolvency, with or without the filing of a bankruptcy petition by a tour operator, Cruise line, or airline.

  • Material Default means a material breach of this Framework Agreement and/or, breach by the Supplier of any of the following Clauses: Clause 8 (Warranties and Representations), Clause 9 (Prevention of Bribery and Corruption), Clause 13 (Statutory Requirements and Standards), Clause 14 (Non-Discrimination), Clause 15 (Provision of Management Information), Clause 16 (Management Charge), Clause 17 (Records and Audit Access), Clause 22 (Data Protection), Clause 23 (Freedom of Information) and Clause 31 (Transfer & Sub-contracting);

  • Monetary Default Notice shall have the meaning assigned to such term in Section 11(a).

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • Non-Monetary Default Notice shall have the meaning assigned to such term in Section 11(d).

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Bank Default means (i) the refusal (which has not been retracted) of a Bank to make available its portion of any Borrowing or to fund its portion of any unreimbursed payment under Section 2.03(c) or (ii) a Bank having notified in writing the Borrower and/or the Agent that it does not intend to comply with its obligations under Section 1.01 or Section 2, in the case of either clause (i) or (ii) as a result of any takeover of such Bank by any regulatory authority or agency.

  • Bond Event of Default means the occurrence of any of the following (or such event or condition which with notice or lapse of time or both would constitute any of the following):

  • Default Notice means the written notice of Default of the Agreement issued by one Party to the other.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

  • Preliminary Default Notice shall have the meaning ascribed thereto in Article 13 of this Agreement;

  • Non-Monetary Default shall have the meaning assigned to such term in Section 11(d).

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • O & M Default means any default on the part of the Power Producer for a continuous period of ninety (90) days to (i) operate and/or (ii) maintain (in accordance with Prudent Utility Practices), the Project at all times.

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • Monetary Default shall have the meaning assigned to such term in Section 11(a).

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • Specified Event of Default means any Event of Default pursuant to Section 9.01(a), Section 9.01(f) or Section 9.01(g).

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

  • Senior Default means any Default or Event of Default under the Senior Credit Agreement or any document referred to therein.