Finance Default definition

Finance Default means: an event of default (however described) under the Finance Documents; or any event which would restrict or cancel, or entitle any Finance Party to restrict or cancel, Project Co's ability to obtain or have available finance or financial accommodation in accordance with the Finance Documents except to the extent that immediately after such restriction or cancellation, the finance or financial accommodation available to Project Co is equal to or greater than that required to fully undertake the Project.
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Finance Default is an event described as an "Event of Default" in the Security Trust Deed.
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Examples of Finance Default in a sentence

  • The parties acknowledge that the State will not be liable for any costs incurred by a party to this Deed in attempting to Cure a Finance Default or in exercising rights under the Finance Documents.

  • Direct Debit / Premium Finance Default Up to €25 Premium Finance agreement reinstatement Up to €40 Cancellation You, the customer can cancel your policy by notice in writing at any time.

  • The parties acknowledge that the State will not be liable for any costs incurred by a party to this Deed in attempting to remedy (or overcome the effects) of a Finance Default or in exercising rights under the Finance Documents.

  • Without prejudice to any other rights of the non-defaulting party, the defaulting party must pay the non-defaulting party interest on the amount which is the subject of a Financial Default (plus any accrued interest compounding daily) at the Default Rate from the date when payment is due until the Finance Default is cured.

  • The Security Trustee and the Agent acknowledge that the concurrence of a Finance Default and a PV Default will not affect or suspend the rights and obligations of the parties under this clause 4.