Default Status definition

Default Status. The failure of a borrower or endorser (if any) to make an installment payment when due or to meet other terms of the promissory note as defined at 34 CFR 682.200.
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Examples of Default Status in a sentence

  • The following Servicer Defaults, or events which with the giving of notice, the lapse of time, or both, would become Servicer Defaults known to the undersigned occurred during the year ended [__________]: Nature of Default Status 2 SCHEDULE 4.01(a) EXPECTED AMORTIZATION SCHEDULE See Attached.

  • The Lender must update the loan’s status each month using either Form RD 1980–44 or the LINC Default Status report until such time as the loan is no longer in Default.

  • Default Status After turn on the power supply, the machine will start the system, and then we can see the machine’s current status as below.图 1 Default window when the machine is on DVI1 1920x1080 60Hz DVI1 1920x1080 60Hz DVI1 1920x1080 60Hz DVI1 1920x1080 60Hz1920x1080 60.00HzPIP3PIP2PIP1MAIN InstructionMAINThe default image, its port type and input resolution.PIP1The port type and input resolution of PIP 1.PIP2The port type and input resolution of PIP 2.PIP3The port type and input resolution of PIP 3.

  • Mortgagees must report the Default Status Codes detailed below for all FHA-insured Mortgages utilizing the COVID-19 Loss Mitigation Options or COVID-19 Recovery Options.

  • The Lend- er may initiate liquidation in accord- ance with § 4287.357.(a) The Lender must notify the Agen- cy in writing when a Borrower is more than 30 days past due on a payment and the Delinquency cannot be cured with- in 30 days or when a Borrower is other- wise in Default of covenants in the Loan Agreement by submitting Form RD 1980–44, ‘‘Guaranteed Loan Bor- rower Default Status,’’ or processing the Default Status report in LINC.

  • The lender must update the loan’s status each month using either Form RD 1980–44 or the LINC Default Status report until such time as the loan is no longer in default.

  • HLIB reserves the right to suspend, disqualify or exclude any person from participating or continuing to participate in the Promotion in the event such person is under Default Status.

  • Intersegment transactions Intersegment transactions were made at market rates and intersegment transactions are eliminated on consolidation.

  • The Mortgagee must report the use of the COVID-19 Recovery Modification in SFDMS as follows:• Default Status Code 61 – Recovery Modification Started with a Partial Claim, or• Default Status Code 38 – Recovery Modification Started without a Partial Claim.

  • The Default Status report will outline results of meetings or attempts to schedule a meeting and planned collection activities.Sixty days past due. If no meeting has been held, or if meeting results are inconclusive, a second default notification is mailed.

Related to Default Status

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

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

  • Lender Default means (i) the refusal or failure of any Lender to make available its portion of any incurrence of Loans, which refusal or failure is not cured within one Business Day after the date of such refusal or failure, unless such Lender notifies the Administrative Agent in writing that such refusal or failure is the result of such Lender’s good faith determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in writing) has not been satisfied, (ii) the failure of any Lender to pay over to the Administrative Agent, any Swingline Lender, any Letter of Credit Issuer or any other Lender any other amount required to be paid by it hereunder within one Business Day of the date when due, unless the subject of a good faith dispute, (iii) a Lender has notified, in writing, the Borrower or the Administrative Agent 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, or a Lender has publicly announced that it does not intend to comply with its funding obligations under other loan agreements, credit agreements or similar facilities generally, (iv) a Lender has failed to confirm in a manner reasonably satisfactory to the Administrative Agent that it will comply with its funding obligations under this Agreement, (v) a Distressed Person has admitted in writing that it is insolvent or such Distressed Person becomes subject to a Lender-Related Distress Event or (vi) a Lender has become the subject of a Bail-in Action.

  • 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.

  • Default under Specified Transaction provisions of Section 5(a)(v) will not apply to Party A and will not apply to Party B.

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

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

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

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

  • Default Supplier means a Retailer appointed by EDTI pursuant to section 3 of the RRR Regulation;

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

  • 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.

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

  • Servicer Default means an event specified in Section 8.01.

  • 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.

  • Minor Default means any Event of Default that is not a Major Default.

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

  • Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p) of this Note.

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

  • Special Default means (i) the failure by Owner to pay any amount of principal of or interest on any Equipment Note when due or (ii) the occurrence of any Default or Event of Default referred to in Section 5.01(v), (vi) or (vii).

  • Company Event of Default bears the meaning ascribed thereto in Section 13.1; “Company Notice of Default” bears the meaning ascribed thereto in Section 13.2;

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

  • 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).

  • 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)).

  • 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.

  • Servicing Default The meaning assigned in Section 6.01 of the Servicing Agreement.