Default Purchase definition

Default Purchase. AMENDED AND RESTATED OPERATING AGREEMENT COBASYS LLC
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Default Purchase means the purchase and sale of a Shareholder’s shares as provided for and defined in Section 6.6, et seq of this Agreement.
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Default Purchase. 8.2 "Default Purchaser" 8.2 "Defaulting Member" 8.1 "Designated Price" 2.10 "Dissolution Event" 9.1 "Effective Time" Article 12 "Electing Member" 2.10 "Event of Default " 8.2 "First Appraiser" 2.9 "GM Interest Sale" Recital C "High Volume Production Phase" 2.6(a) "IB Firm" 2.9 "Indemnitee" 6.2 "Initial Annual Budget" 2.6(a)(ii) "Kettering Facility" 2.5(a) "Limited Production Phase" 2.5(a) "Loan Account" 3.6 "Milestones" 2.5(b)(iii) "Nondefaulting Member" 8.1 "Objectives" 2.5(b) "Offeree Member" 7.1(c) "Offeree Member's Acceptance Notice" 7.1(c) "Offeree Member Response Date" 7.1(c) "Operating Agreement" Recital A "Phase One Buy-Out Closing" 2.8 "Phase One Buy-Out Loan" 2.8 "Phase One Buy-Out Notice" 2.8 "Phase One Buy-Out Price" 2.8
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Examples of Default Purchase in a sentence

  • In the event that the Seller elects to terminate this Agreement after the power plant has been successfully commissioned due to a default by the Buyer, then either Party may require that within ninety (90) days of the termination date the Buyer shall pay the Buyer’s Default Purchase Price to the Seller and the Seller shall sell the Facility to the Buyer (or its nominee) at the Buyer’s Default Purchase Price.

  • If at the conclusion of such five (5) Business Day period, the Non-Defaulting Preferred Backstop Investors have not elected to exercise the Default Purchase Right in its entirety or have not found a third-party to replace the commitment of the Defaulting Backstop Purchaser, then the Company or CEOC may terminate this Agreement.

  • Each Non-Defaulting Commitment Party will have three Business Days after receipt of such notice to elect to exercise its Default Purchase Right by notifying theA.M. Castle Parties in writing of its election and specifying the maximum principal amount of Default Notes that it is committing to purchase (up to the maximum principal amount of Default Notes such Non-Defaulting Commitment Party is permitted to commit to purchase pursuant to the first sentence of Section 2.4(a)).

  • The Buyer’s Default Purchase Price, the Seller’s Default Purchase Price, Political Force Majeure Event Purchase Price or Other Force Majeure Purchase Price], as the case may be.

  • If the Members are unable to agree on a Buyout Purchase Price, then the Default Purchase Price shall be determined in accordance with the provisions of Section 7.03(a) based on the Appraised Value as determined pursuant to Section 7.03(b).

  • Since the ratification of the Charter, Kyiv has made every effort to destroy the prestige of the Charter among its population, suggesting to Ukrainian society that the international instrument should not be applied in Ukraine.

  • If the Government exercises such option in accordance with Clause 10.7 (Exercise of Termination Option), then in accordance with the provisions of this Clause 11 (Early Termination Purchase Price and Procedure), the Project Property should be valued at the "Project Company Default Purchase Price", which equals to: Outstanding Debt; plus Termination Costs; minus Outstanding Shareholder Commitments; minus Relevant Insurance Proceeds.

  • The Government Default Purchase Price - Non-Expropriation shall be payable by the Government (or the Government’s designee) to the Project Company in accordance with the provisions of this Clause 11 (Early Termination Purchase Price and Procedure) provided that the Government Default Purchase Price - Non-Expropriation may never be less than zero.

  • Each Non-Defaulting Backstop Commitment Party will have one (1) Business Day after receipt of such notice to elect to exercise its Default Purchase Right by notifying Monitronics in writing of its election and specifying the maximum number of Default Shares that it is electing to purchase (up to the maximum number of Default Shares such Non-Defaulting Backstop Commitment Party is entitled to purchase pursuant to the first sentence of this Section 1.3(c)).

  • If the Shareholder exercises that option in accordance with Clause 10.7 (Exercise of Termination Option), then: in accordance with the provisions of this Clause 11 (Early Termination Purchase Price and Procedure), the Project Property shall be valued at "Government Default Purchase Price – Expropriation", which equals to – the Government Default Purchase Price - Non-Expropriation; minus Other Expropriation Proceeds.

Related to Default Purchase

  • Credit Default Swap means any credit default swap entered into as a means to (i) invest in bonds, notes, loans, debentures or securities on a leveraged basis or (ii) hedge the default risk of bonds, notes, loans, debentures or securities.

  • 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 3.50% above the Alternate Base Rate.

  • Purchaser Default has the meaning set forth in Section 12.2 (a).

  • Default Date the meaning set forth in Section 3.2(a).

  • 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.

  • Mandatory Purchase means the mandatory purchase of Outstanding VRDP Shares by the Liquidity Provider pursuant to this Agreement in connection with a Mandatory Purchase Event.

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

  • Default Loan shall have the meaning provided in Section 5.2(b)(1).

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

  • Note Default Interest Spread means a rate per annum equal to three percent (3.0%); provided, however, that if the weighted average of the Senior Note Default Rate and the Note B Default Rate would exceed the maximum rate permitted by applicable law, the note default interest spread shall equal (i) the rate at which the weighted average of the Senior Note Default Rate and the Note B Default Rate equals the maximum rate permitted by applicable law minus (ii) the Mortgage Loan Rate.

  • Default Conversion Price shall have the meaning set forth in Section 4(b).

  • Registration Default Period shall have the meaning assigned thereto in Section 2(c).

  • Default Period means, with respect to any Defaulting Lender, the period commencing on the date of the applicable Funding Default and ending on the earliest of the following dates: (i) the date on which all Commitments are cancelled or terminated and/or the Obligations are declared or become immediately due and payable, (ii) the date on which (a) the Default Excess with respect to such Defaulting Lender shall have been reduced to zero (whether by the funding by such Defaulting Lender of any Defaulted Loans of such Defaulting Lender or by the non-pro rata application of any voluntary or mandatory prepayments of the Loans in accordance with the terms of Section 2.13 or Section 2.14 or by a combination thereof) and (b) such Defaulting Lender shall have delivered to Company and Administrative Agent a written reaffirmation of its intention to honor its obligations hereunder with respect to its Commitments, and (iii) the date on which Company, Administrative Agent and Requisite Lenders waive all Funding Defaults of such Defaulting Lender in writing.

  • 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;’;

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

  • Loan Default means an event, which with the giving of notice or lapse of time or both, would become a Loan Event of Default.

  • Mandatory Purchase Event means, (i) in connection with the termination of this Agreement due to its expiration as of a Scheduled Termination Date, by the fifteenth (15th) day prior to any such Scheduled Termination Date, (a) the Liquidity Provider shall not have agreed to an extension or further extension of the Scheduled Termination Date to a date not earlier than 180 days from the Scheduled Termination Date of this Agreement then in effect, and (b) the Fund shall not have obtained and delivered to the Tender and Paying Agent an Alternate VRDP Shares Purchase Agreement with a termination date not earlier than 180 days from the Scheduled Termination Date of this Agreement, or (ii) in connection with the termination of this Agreement due to a Liquidity Provider Ratings Event or Related Party Termination Event, by the fifteenth (15th) day prior to the Liquidity Provider Ratings Event Termination Date or Related Party Termination Date, as the case may be, the Fund shall not have obtained and delivered to the Tender and Paying Agent an Alternate VRDP Shares Purchase Agreement with a termination date not earlier than 180 days from the Liquidity Provider Ratings Event Termination Date or Related Party Termination Date, as the case may be, of this Agreement. The Mandatory Purchase Event shall be deemed to occur on such fifteenth (15th) day prior to any Scheduled Termination Date, Liquidity Provider Ratings Event Termination Date or Related Party Termination Date, as the case may be.

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

  • 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.

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

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.

  • Lender Default means (a) the refusal or failure (which has not been cured) of a Lender to make available its portion of any Borrowing or to fund its portion of any Unpaid Drawing under Section 3.4 that it is required to make hereunder, (b) a Lender having notified the Administrative Agent and/or the Borrower that it does not intend to comply with its funding obligations under this Agreement or has made a public statement to that effect with respect to its funding obligations under this Agreement, (c) a Lender has failed to confirm (within one Business Day after a request for such confirmation is received by such Lender) in a manner reasonably satisfactory to the Administrative Agent, the Borrower and, in the case of a Revolving Credit Lender, each Revolving Letter of Credit Issuer that it will comply with its funding obligations under this Agreement, (d) a Lender being deemed insolvent or becoming the subject of a bankruptcy or insolvency proceeding or has admitted in writing that it is insolvent; provided that a Lender Default shall not be deemed to have occurred solely by virtue of the ownership or acquisition of any Stock in the applicable Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide the applicable Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit the applicable Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with the applicable Lender, or (e) a Lender that has, or has a direct or indirect parent company that has, become the subject of a Bail-In Action.

  • Mortgage Loan Event of Default means an “Event of Default” as defined in the Mortgage Loan Agreement.

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