Enhancer Default definition

Enhancer Default. Any failure by the Enhancer to make a payment required under the Policy in accordance with its terms.
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Enhancer Default. Any failure by the Enhancer to make a payment required under the Policy in accordance with its terms. Enhancer Optional Deposit: Amounts deposited by or on behalf of the Enhancer in the Note Payment Account, other than Insured Amounts, to be applied to the Notes. ERISA: The Employee Retirement Income Security Act of 1974, as amended.
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Enhancer Default means (i) the failure of the Enhancer to pay an Insured Amount or Preference Amount under the Policy in accordance with its terms or (ii) the Enhancer (a) files any petition or commences any case or proceeding under any state or federal law relating to insolvency or bankruptcy, (b) consents to the entry of any decree or order for relief in an involuntary case or proceeding under any state or federal bankruptcy or insolvency law, (c) makes a general assignment for the benefit of its creditors or (d) admits in writing its inability to pay its debts as they come due or (iii) a court of competent jurisdiction, the New York Department of Insurance or other competent regulatory agency enters a final and nonappealable order, judgment or decree under any state or federal bankruptcy or insolvency law (a) appointing a custodian, trustee, agent or receiver for the Enhancer or for all or any material portion of its property or (b) authorizing the taking of possession by a custodian, trustee, agent or receiver of the Enhancer or the taking of possession of all or any material portion of its property.
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More Definitions of Enhancer Default

Enhancer Default means the existence and continuance of any of the following: (a) a failure by the Insurer to make a payment required under the Policy in accordance with its terms; (b) the entry of a decree or order of a court or agency having jurisdiction in respect of the Enhancer in an involuntary case under any present or future federal or state bankruptcy, insolvency or similar law appointing a conservator or receiver or liquidator or other similar official of the Enhancer or of any substantial part of its property, or the entering of an order for the winding up or liquidation of the affairs of the Enhancer and the continuance of any such decree or order undischarged or unstayed and in force for a period of 90 consecutive days; (c) the Enhancer shall consent to the appointment of a conservator or receiver or liquidator or other similar official in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings or of relating to the Enhancer or of or relating to all or substantially all of its property; or (d) the Enhancer shall admit in writing its liability to pay its debts generally as they become due, file a petition to take advantage of or otherwise voluntarily commence a case or proceeding under any applicable bankruptcy, insolvency, reorganization or other similar statute, make an assignment for the benefit of its creditors, or voluntarily suspend payment of its obligations.
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Enhancer Default means, with respect to any Enhancer, the occurrence of any of the following events: (a) the Enhancer fails to make a payment required under the Financial Guaranty Insurance Policy to which it is a party in accordance with its terms and such failure remains unremedied for two Business Days following the delivery of written notice of such failure to the Enhancer, (b) the Enhancer (i) files any petition or commences any case or proceeding under any provisions of any federal or state law relating to insolvency, bankruptcy, rehabilitation, liquidation or reorganization, (ii) makes a general assignment for the benefit of its creditors or (iii) has an order for relief entered against it under any federal or state law relating to insolvency, bankruptcy, rehabilitation, liquidation or reorganization that is final and nonappealable or (c) a court of competent jurisdiction or another competent regulatory authority enters a final and nonappealable order, judgment or decree (i) appointing a custodian, trustee, agent or receiver for the Enhancer or for all or any material portion of its property or (ii) authorizing the taking of possession by a custodian, trustee, agent or receiver of the Enhancer (or taking of possession of all or any material portion of the Enhancer's property).
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Enhancer Default. Any failure by the Enhancer to make a payment required under the Policy in accordance with its terms. Enhancer Optional Deposit: Amounts deposited by or on behalf of the Enhancer in the Note Payment Account, other than Insured Payments, to be applied to the Notes.
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Related to Enhancer Default

  • Servicer Default means an event specified in Section 8.01.

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

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

  • 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.

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

  • Senior Default means any Default or Event of Default under the Senior Credit Agreement or any document referred to therein.

  • 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.

  • Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

  • 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.

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • 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.

  • 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).

  • 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).

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

  • Indenture Default means, with respect to any Indenture, any Event of Default (as such term is defined in such Indenture) thereunder.

  • 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.

  • Servicer Event of Default wherever used herein, means any one of the following events:

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

  • 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)).

  • Customer Default shall have the meaning set forth in Section 11.1.

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • 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.

  • 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.

  • Debenture Event of Default means an "Event of Default" as defined in the Indenture.

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

  • Master Servicer Event of Default wherever used herein, means any one of the following events: