Default Payment Notice definition

Default Payment Notice means the notice given by the Contractor to the Authority in the Standard Form at Appendix 8 duly completed in accordance with condition 4.6 in respect of any payment (including an advance) due under the Contract, where the Authority has failed to give a Payment Notice in accordance with condition 4.5.
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Default Payment Notice has the meaning specified in Section 13.4.1. “Default Price” has the meaning specified in Section 13.4.1(b).
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Examples of Default Payment Notice in a sentence

  • The Company shall deliver the applicable Event of Default Price to the Holder (x) in the case of an Event of Default under Section 4(a)(iv), 4(a)(v), or 4(a)(viii) immediately and (y) in the case of any other Event of Default, within five (5) Business Days after the Company’s receipt of the Event of Default Payment Notice.

  • The amount stated in the Default Payment Notice cannot exceed the amount stated in the corresponding Valid Statement that had been submitted by the Domestic Sub- Contractor.

  • The “notified sum” in relation to any payment provided for by this contract means any sum notified in accordance with clauses 7.4, 7.5, and 7.6 by the valid Customer Notice or the valid Default Payment Notice, whichever is applicable.

  • Any such Default Payment Notice shall only be valid on receipt of the said Default Payment Notice served by recorded delivery to the Financial Director of Imtech at the address identified in the Appendix to the Articles of Agreement.

  • In the event that a Default Payment Notice is issued then the final date for payment shall be delayed by the number of days between the latest date by which the Payment Notice should have been issued by Imtech and the date on which the Imtech Financial Director received the Default Payment Notice.

  • The Company shall deliver the applicable Required Payment Amount (subject to the reduction contemplated by the last sentence of Section 3(b)) to the Holder in cash within five (5) Business Days after the Company’s receipt of the Holder’s applicable Event of Default Payment Notice.

  • All alterations, additions, or improvements shall be diligently performed in a good and workmanlike manner, using materials and equipment at least equal in quality and class to the original installations of the Building.

  • The Company shall deliver the applicable Required Payment Amount (subject to the reduction contemplated by the last sentence of Section 4(b)) to the Holder in cash within five (5) Business Days after the Company’s receipt of the Holder’s applicable Event of Default Payment Notice.

  • Taking on such a role by an arbitrator, which is often done in civil law can waive the right to challenge the award on all grounds, they should a fortiori be entitled to waive the more limited right to challenge an arbitrator.

  • Notwithstanding condition 4.8.1 and condition 4.9.1, if any of the events referred to in condition 8.2.6.3 and/or 8.2.6.4 (Termination) occur after the period referred to in condition 4.9.1, the Authority shall not be required to pay the Contractor the amount set out in the Payment Notice or Default Payment Notice and shall not be required to serve any Pay Less Notice.

Related to Default Payment Notice

  • Payment Notice has the meaning assigned to it in Section 8.06(c).

  • Repayment Notice Each notice required to be delivered by the Borrower pursuant to Section 2.3 in respect of any reduction in the Facility Amount or repayment of Advances Outstanding, in the form of Exhibit A-2.

  • Prepayment Notice means a notice by the Borrower to prepay Loans, which shall be in such form as the Appropriate Party may approve.

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

  • 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.

  • LC Payment Notice has the meaning specified in Section 2.04(e).

  • Discounted Prepayment Option Notice has the meaning specified in Section 2.05(d)(ii).

  • Default Repayment Date means the settlement date set out by the Bond Trustee in a Default Notice requesting early redemption of the Bonds.

  • Mandatory Prepayment Event has the meaning specified in Section 2.03(b)(i).

  • Discounted Voluntary Prepayment Notice has the meaning specified in Section 2.05(d)(v).

  • Prepayment Price Has the meaning specified in Section 6.02(b) of the Indenture.

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

  • 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;’;

  • Acceptance and Prepayment Notice means a notice of the Borrower’s acceptance of the Acceptable Discount in substantially the form of Exhibit M.

  • Mandatory Default Amount means the payment of 130% of the outstanding principal amount of this Note and accrued and unpaid interest hereon, in addition to the payment of all other amounts, costs, expenses and liquidated damages due in respect of this Note.

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

  • Prepayment Fee is, with respect to any Term Loan subject to prepayment prior to the Maturity Date, whether by mandatory or voluntary prepayment, acceleration or otherwise, an additional fee payable to the Lenders in amount equal to:

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

  • Discount Range Prepayment Notice means a written notice of a Borrower Solicitation of Discount Range Prepayment Offers made pursuant to Section 2.11(a)(ii)(C) substantially in the form of Exhibit K.

  • Settlement Notice has the meaning specified in Section 14.02(a)(iii).

  • Acceptable Prepayment Amount has the meaning set forth in Section 2.05(a)(v)(D)(3).

  • Monthly Redemption means the redemption of this Debenture pursuant to Section 6(b) hereof.

  • Prepayment Amount means the amount required to prepay the Annual Special Tax obligation in full for an Assessor’s Parcel as described in Section G.

  • Repayment Event means any event or condition which gives the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

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

  • Prepayment Event means any Asset Sale Prepayment Event, Debt Incurrence Prepayment Event, Casualty Event or any Permitted Sale Leaseback.