Default definition

Default means any event that is, or with the passage of time or the giving of notice or both would be, an Event of Default.

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Default means any event or condition which constitutes an Event of Default or which upon notice, lapse of time or both would, unless cured or waived, become an Event of Default.

Default means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default.

Examples of Default in a sentence

To the extent any defaults, representations, or covenants contained in any Issuer Documents are more restrictive than the Events of Default, representations, or covenants contained herein, the Events of Default, representations and covenants herein shall control.
Notwithstanding the foregoing, for purposes of determining compliance with Sections 7.01, 7.02 and 7.03 with respect to any amount of Liens, Indebtedness or Investment in currencies other than Dollars, no Default shall be deemed to have occurred solely as a result of changes in rates of exchange occurring after the time such Lien is created, Indebtedness is incurred or Investment is made.
The Special Servicer may, in connection with a workout or other modification of the Whole Loan and without consent of the Servicer, waive any or all related Default Interest and late payment charges or fees, regardless of who is entitled to receive such payments as compensation.
During the existence of an Event of Default, no Loans may be requested as, converted to or continued as Eurodollar Rate Loans or Term Benchmark Loans without the consent of the Required Lenders.
If an Event of Default has occurred and is continuing, Bank may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Bank shall determine in its sole discretion.

More Definitions of Default

Default means any event which is, or after notice or passage of time or both would be, an Event of Default.

Default means any event, act or condition which with notice or lapse of time, or both, would constitute an Event of Default.

Default means any occurrence that is, or with notice or the lapse of time or both would become, an Event of Default.

Default means an event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

Default means any event, act or condition that with notice or lapse of time, or both, would constitute an Event of Default.

Default means an event or condition the occurrence or existence of which would, with the lapse of time or the giving of notice or both, become an Event of Default.

Default means any condition or event that, with the giving of notice or the lapse of time or both, would constitute an Event of Default.