Default on Payment definition

Default on Payment means failure to pay a Debt or its instalment when due as stated in the Securing agreement.
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Default on Payment. If ISI's Customers, or any of them, fail to pay any fees when due and payable, the nonpaying ISI Customers shall be in default of this Agreement. At its option, RTC may, immediately in its sole discretion, suspend or terminate the Services to be delivered to the defaulting ISI Customers under this Agreement or any Services Confirmation Form, and said suspension or termination by RTC shall be deemed for cause. In addition, RTC shall be entitled to apply any monies it holds by way of deposit or prepayment by the Client in satisfaction or diminution of the outstanding payment.
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Default on Payment. If Client fails to pay any fees when due and payable, Client shall be in default of this Agreement. At its option, RTC may, immediately in its sole discretion, suspend or terminate the Services to be delivered by it under this Agreement or any Services Order Form, and said suspension or termination by RTC shall be deemed for cause. In addition, RTC shall be entitled to apply any monies it holds by way of deposit or prepayment by the Client in satisfaction or diminution of the outstanding payment.
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Examples of Default on Payment in a sentence

  • Default on Payment of Fines and Costs.A default in payment of a civil fine, costs, or damages or expenses ordered under Subsection A or B or an installment of the fine, costs, or damages or expenses as allowed by the court, may be collected by the Township of Orion by a means authorized for the enforcement of a judgment under Chapters 40 or 60 of the Revised Judicature Act, MCL 600.101, et seq.; MSA 27A.101, et seq., as amended.

  • Default on Payment of Fines and Costs.A default in payment of a civil fine, costs, or damages, or expenses ordered under Subsection A or B or an installment of the fine, costs, or damages or expenses as allowed by the court, may be collected by the Township of Orion by a means authorized for the enforcement of a judgment under Chapters 40 or 60 of the Revised Judicature Act, MCL 600.101, et seq.; MSA 27A.101, et seq., as amended.

  • Same: In-service Training of Teachers.§ 3215.1. Garnishment of Income Tax Refunds in the Event of a Default on Payment of Tuition and Fees§ 3216.

  • They confirmed, however, that climate change and EU influence were important variables only after that consideration was put to them as a possible factor.In conclusion, environmental concerns did make an influence on developing the strategy based on renewables but were not the sole determining variables for such a rapid acceleration.

  • The Chargeholder may apply to the court for compulsory enforcement in the case of Default on Payment by Debtor.

  • If the sale is declared null and void (IRM 5.10.5.15, Default on Payment Deferred Payment Sales), on Form 2436 designate in item 6c "Purchaser bid for property but failed to fulfill agreement to pay full bid price.

  • If a suit against the purchaser to secure the full bid price (IRM 5.10.5.15, Default on Payment Deferred Payment Sales) is appropriate, Form 2436 is completed as in IRM 5.10.6.5.1(2)(a) above except "Suit against purchaser" is substituted for "Sale—Null and Void" in item 6c.

  • Additional Contact for Notice Pursuant to CAB & P Code § 21700 ET SEQ in Event of Default on Payment by Tenant: Name Address City State Zip Phone ( ) 6.

  • Occurrence of Default on Payment (1) Each Clearing Member shall provide cover on its cash settlement account with the Settlement Bank in the amount of the outstanding balances, which result from its transactions and the transactions of its Clients, and if applicable, for claims resulting from a buy-in pursuant to § 39 para.

  • Hence such study has never been conducted before and the bank is new, encompassed with skilled manpower, innovative and well technologically equipped, it is advantageous for the bank to see early the problem occurring in relation with employees’ performance evaluation and helps to take remedial action to overcome the cause and consequences identified.


More Definitions of Default on Payment

Default on Payment means failure to pay a Debt or its instalment when due stated in the Loan Agreement.
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Related to Default on Payment

  • default value means a value derived from a typical value by the application of pre-determined factors and that may, in circumstances specified in this Directive, be used in place of an actual value;’;

  • Default Fee means with respect to any amount due and payable by Seller in respect of any Aggregate Unpaids, an amount equal to the greater of (i) $1000 and (ii) interest on any such unpaid Aggregate Unpaids at a rate per annum equal to 2% above the Base Rate.

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • 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.

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

  • 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.

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • Non-Payment Default means any event (other than a Payment Default) the occurrence of which entitles one or more Persons to accelerate the maturity of any Designated Senior Indebtedness.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

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

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

  • 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.

  • 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):

  • 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)).

  • cross-default obligation means a term of any agreement or arrangement whereby the Appointee's liability to pay or repay any debt or other sum arises or is increased or accelerated by reason of a default of any person other than the Appointee. 6.12 Without prejudice to the application of paragraph 6.2 the Appointee shall declare or pay dividends only in accordance with a dividend policy which has been approved by the Board of the Appointee and which complies with the following principles -

  • 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:

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

  • Owner Event of Default has the meaning set forth in Section 20.3.

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • default fund means a default fund held by a CCP in accordance with Article 42 of Regulation (EU) No 648/2012;

  • Unmatured Event of Default means any event that, if it continues uncured, will, with lapse of time, notice or lapse of time and notice, constitute an Event of Default.

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

  • Default Date has the meaning set forth in Section 3.3(a).

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.