Default Price definition

Default Price means the price determined by the default manager on, in the absence of exceptional circumstances (as so judged by the default manager) the following bases:

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Default Price is defined in Section 3.4.2.

Default Price has the meaning ascribed to that term in Section 8.3.

Examples of Default Price in a sentence

• In the case of under-withdrawals, the Liquidated Damages due shall be the amount of the under-withdrawal multiplied by the Default Price.

• In the case of under-injections, the Liquidated Damages due shall be the amount of the under-injection multiplied by the Default Price.

• Anything contained herein to the contrary notwithstanding, at the Non-Defaulting Member’s election, a reasonable amount not to exceed ten percent (10%) of the Default Price (the “Holdback Amount”) shall be held back from the Default Price for application to any Residual Liabilities that were not taken into account in the calculation of the Default Price.

• The Default Price shall equal fifty percent (50%) of the NAV of the Default Interest, as determined in accordance with Article XII.

• In that regard the Members agree that the Default Price shall be adjusted to reflect all cash in accounts of the Company on the Effective Date of the Buyout Notice.

More Definitions of Default Price

Default Price means the price specified by a broker in the advance written notice of renewal sent to a customer pursuant to section 8.1 of this Code.

Default Price is defined in Section 10.03(b)(ii).

Default Price has the meaning set forth in Section 6.2(b)(v)(B).

Default Price shall have the meaning given to such term in Section 3.2(d)(ii)(D).

Default Price has the meaning given in clause 21.2(A) (Transfer of Shares on Default);

Default Price means the Fair Price, less a twenty percent (20%) discount; Defaulting Shareholder has the meaning set forth in clause 15.2; Disclosing Party has the meaning set forth in clause 18.1; Dispute has the meaning set forth in paragraph 1 of Schedule 9; Dispute Resolution Procedures means the dispute resolution procedures set forth in Schedule 9; Dissolution Event has the meaning set forth in clause 17.1; Distributable Amount has the meaning set forth in paragraph 4 of Schedule 10; Drilling Agreement means each drilling contract to be entered into between the Company and the Saudi Aramco Customer as agreed by the Shareholders and reflecting the agreed terms and conditions in Schedule 4; EBITDA means earnings before interest, Taxes, depreciation and amortization; Effective Date has the meaning set forth in clause 2.1;

Default Price has the meaning given in Clause 11.3(a); “Defaulting Shareholder” has the meaning given in Clause 11.1;