Minor Default definition

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

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

Minor Default means any Event of Default that is not a Major Default or an Unapproved Restricted Issuance Default.

Examples of Minor Default in a sentence

• If the Event of Default is a Minor Default, the operation of this Agreement shall not take effect unless or until DRLP3 has first sought to commence legal action to enforce payment or performance of the Obligations and any remedy obtained under such action has not satisfied the Obligations of NPS or any judgement obtained pursuant to such action remains unsatisfied by NPS for more than 15 Business Days after the rendering of such judgement (without the necessity of appeal from such judgement).

• Notwithstanding anything to the contrary contained in this Lease, if any Minor Default is not cured at or prior to the cap on Delay Fees being met as to such Minor Default and specific performance is not reasonably available.

• Tenant specifically and expressly acknowledges that damages would not constitute an adequate remedy for any Nonmonetary Default or Minor Default.

• For example, if hosting is unavailable for a total of 200 minutes in a 30-day month, then Production Uptime is [1-(200/43,200)*100%] = 99.5% Target Service Level: Production Uptime is greater than or equal to 99.95% Minor Default: Production Uptime is less than 99.95% but greater than or equal to 98% Major Default: Production Uptime is less than 98% Measurement Period: Measured on a monthly basis.

• Tenant shall not be in default of these obligations until it has received a Minor Default Notice which includes, in all capital and bold letters in a size no smaller than the largest print on the Minor Default Notice, the following legend: "FAILURE TO TIMELY TAKE ACTION MAY RESULT IN ENFORCEMENT ACTION” and the opportunity to cure that is afforded Tenant in the definition of Delay Fee under this Lease.

More Definitions of Minor Default

Minor Default means any Event of Default that is not a Major Default. A15. “OID” means an original issue discount.

Minor Default shall have the meaning specified in Article 29.3.

Minor Default means any breach of an obligation under this Lease for which the remedies of breach are expressly limited to either a Delay Fee or specific performance or both.

Minor Default means the occurrence of any one or more of the following events to the extent that it is not a Major Default: the failure of NPS to pay any monetary Obligations within five Business Days of the date on which such Obligations are due or payable; the failure of NPS to perform any non-monetary Obligation or covenant under the Security Agreement or the Purchase Agreement and such failure shall continue unremedied for a period of 60 days after written notice thereof; or any breach by NPS of any representation or warranty made by NPS in the Purchase Agreement (for certainty, including without limitation a breach of Section 4.1 (a) or 4.4 of the Purchase Agreement if such breach does not result in a Material Adverse Effect;

Minor Default means any breach of the Call-Off Contract or the Order Form which may be either a partial breach or a breach not so severe as to warrant a Material Default

Minor Default means any breach of the Framework Agreement, the Call-Off Contract or the Order Form which may be either a partial breach or a breach not so severe as to warrant a Material Default

Minor Default means any Event of Default that is not a Major Default or an Unapproved Variable Security Issuance