Defaulting Noteholder s Account" means the bank account specified to the Issuer (with a copy to the Principal Paying Agent and the Note Agent) by a Defaulting Noteholder to which Replacement PPN Net Bid Proceeds should be paid and which shall, whilst the Notes held by the relevant Defaulting Noteholder are in global form, be the designated account of the relevant Defaulting Noteholder in the relevant Clearing System.
Defaulting Noteholder means any Noteholder (other than a Noteholder which is an Investor Affiliate):
Defaulting Noteholder means, subject to Section 209, any Series 2011-1 Noteholder that, as determined by Indenture Trustee, (a) has failed to perform any of its funding obligations hereunder, including in respect of its Series 2011-1 Advances, within two (2) Business Days of the date required to be funded by it hereunder, or (b) has notified the Issuer or Indenture Trustee that it does not intend to comply with its funding obligations or has made a public statement to that effect with respect to its funding obligations under this Supplement or under other Series 2011-1 Related Documents generally in which it commits to extend credit (it being agreed that a failure or refusal by a Series 2011-1 Noteholder to honor funding requests as a result of a good faith dispute regarding the continuing obligation of such Series 2011-1 Noteholder to provide requested funds under such other agreement shall not serve as the basis for classification of such Series 2011-1 Noteholder as a Defaulting Noteholder).
Examples of Defaulting Noteholder in a sentence
The Conversion Date shall not have occurred, unless such Series 2012-1 Advance has been approved by each Series 2012-1 Noteholder (other than a then Defaulting Noteholder).
Any payments, prepayments or other amounts paid or payable to a Defaulting Noteholder that are so applied shall be deemed paid to and redirected by such Defaulting Noteholder, and each Series 2012-1 Noteholder is hereby deemed to have irrevocably consented to this treatment.
A Defaulting Noteholder shall not be entitled to receive any Unused Fee accrued during any period in which such Series 2012-1 Noteholder is a Defaulting Noteholder (and the Issuer shall not be required to pay any such fee that otherwise would have been required to have been paid to such Defaulting Noteholder).
Before and after giving effect to such advance, no Early Amortization Event shall have occurred (or would occur with the giving of notice or the passage of time or both) unless such Series 2011-1 Advance has been approved by each Series 2011-1 Noteholder (other than a then Defaulting Noteholder).
If any Noteholder has been identified at any time as having failed to advance to the Issuer its pro rata share of the Aggregate Note Advance in respect of a Note by close of business on the relevant Note Advance Date (a "Defaulted Note" and such Noteholder, a "Defaulting Noteholder"), the Issuer shall send such Defaulting Noteholder a default letter (the "Default Letter") in accordance with Condition 16 (Notices) (with a copy to the Trustee, the Registrar, the Principal Paying Agent and the Note Agent).
More Definitions of Defaulting Noteholder
Defaulting Noteholder means a Class A-1R Noteholder or a Committed Liquidity Provider thereto who fails to fund any portion of a Class A-1R Advance in accordance with the terms of the Class A-1R Note Purchase Agreement for as long as such failure continues and is not remedied either by (a) such Class A-1R Noteholder or Committed Liquidity Facility Provider funding the relevant Defaulted Class A-1R Advance or (b) the application of any payments which would otherwise be due and payable to such Class A-1R Noteholder if such Class A-1R Noteholder had not been a Defaulting Noteholder such that the relevant Defaulted Class A-1R Advance has been fully funded;
Defaulting Noteholder means a Class A-1 Noteholder or a Class A-2 Noteholder who (i) fails to satisfy the Rating Requirement at any time on or prior to the Commitment Termination Date and to take the relevant action required pursuant to sub-clauses (i), (iii) or (iv) of Condition 2(i) (Class A Notes) or (ii) fails to fund any portion of a Class A-1 Advance or a Class A-2 Advance in accordance with the terms of the Class A-1 Note Purchase Agreement or, as the case may be, the Class A-2 Note Purchase Agreement (subject to a grace period of three Business Days) for as long as such failure continues and is not remedied by such Class A-1 Noteholder or a Class A-2 Noteholder funding the relevant Class A-1 Advance or Class A-2 Advance.
Defaulting Noteholder means a Class A-1R Noteholder who:
Defaulting Noteholder means any Series 2009-1 Noteholder that (a) has failed to fund any portion of any Series 2009-1 Advances required to be funded by it hereunder or under the Series 2009-1 Note Purchase Agreement, within two Business Days of the date required to be funded by it hereunder, (b) has otherwise failed to pay over to the Administrative Agent or any other Series 2009-1 Noteholder any other amount required to be paid by it under the Series 2009-1 Transaction Documents within two Business Days of the date when due, unless the subject of a good faith dispute, (c) has notified the Issuer (or any of its Affiliates) or the Administrative Agent in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect, (d) has failed, within three Business Days after written request by the Administrative Agent or the Issuer, to confirm in writing to the Administrative Agent and the Issuer that it will comply with its prospective funding obligations hereunder (provided that such Noteholder shall cease to be a Defaulting Noteholder pursuant to this clause (d) upon receipt of such written confirmation by the Administrative Agent and the Issuer), or (e) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Insolvency Law, or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity; provided that a Series 2009-1 Noteholder shall not be a Defaulting Noteholder solely by virtue of the ownership or acquisition of any equity interest in that Series 2009-1 Noteholder or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Series 2009-1 Noteholder 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 such Series 2009-1 Noteholder (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Series 2009-1
Defaulting Noteholder means a Class A-R Noteholder or a Committed Liquidity Provider thereto who fails to fund any portion of a Class A-R Advance in accordance with the terms of the Class A-R Note Purchase Agreement for as long as such failure continues and is not remedied either by (a) such Class A-R Noteholder or Committed Liquidity Facility Provider funding the relevant Defaulted Class A-R Advance or (b) the application of any payments which would otherwise be due and payable to such Class A-R Noteholder if such Class A-R Noteholder had not been a Defaulting Noteholder such that the relevant Defaulted Class A-R Advance has been fully funded.
Defaulting Noteholder means any Series 2012-1 Noteholder (or, if applicable, any member of its Related Group) that (i) fails to fund any portion of any Series 2012-1 Advance required to be funded hereunder within two Business Days after the date on which such funding is required or (ii) has notified the Issuer or any Affiliate thereof, or the Indenture Trustee or any other Series 2012-1 Noteholder, that it (or, if applicable, any member of its Related Group) does not intend to comply with its funding obligations under the Series 2012-1 Related Documents, or has made a public statement to that effect with respect to its funding obligations under the Series 2012-1 Related Documents.
Defaulting Noteholder means any Series 2013-1 Noteholder (or, if applicable, any member of its Related Group) that (i) fails to fund any portion of any Series 2013-1 Advance required to be funded hereunder within two Business Days after the date on which such funding is required or (ii) has notified the Issuer or any Affiliate thereof, or the Indenture Trustee or any other Series 2013-1 Noteholder, that it (or, if applicable, any member of its Related Group) does not intend to comply with its funding obligations under the Series 2013-1 Related Documents, or has made a public statement to that effect with respect to its funding obligations under the Series 2013-1 Related Documents.