Monetary Default definition

Monetary Default shall have the meaning assigned to such term in Section 11(a).

Monetary Default means any Default involving Borrower's failure to pay any of the Obligations when due.

Monetary Default means a Default (i) that can be cured with the payment of money or (ii) arising pursuant to Section 17.1(a)(vi) or (vii).

Examples of Monetary Default in a sentence

• The Monetary Default Notice shall contain a statement that the Subordinate Noteholder(s)’s or the Controlling Noteholder Representative’s failure to cure such Monetary Default within seven (7) Business Days after receiving such notice will result in the termination of the right to cure such Monetary Default.

• The occurrence of any of the following, except to the extent constituting a Monetary Default: (a) any failure of a Party to perform any of such Party’s obligations under this Agreement; (b) any failure of a Party to comply with any material restriction or prohibition in this Agreement; or (c) any other event or circumstance that, with passage of time or giving of Notice, or both, would constitute a breach of this Agreement by a Party.

• The Note B Holder shall have the right, but not the obligation, to cure such Monetary Default within seven (7) Business Days after receiving the Monetary Default Notice (the “Cure Period”) and at no other times.

More Definitions of Monetary Default

Monetary Default shall have the meaning assigned to such term in Section 32(a).

Monetary Default means Tenant’s failure to pay any Rent or other money (including Real Estate Taxes and insurance premiums) when and as this Lease requires.

Monetary Default means a default in the payment of principal or interest when due following the expiration of any cure period.

Monetary Default means a default by a party in the payment of money when due under a contractual arrangement (determined without regard to any grace period otherwise specified), or a default by such party in the performance or observance of any other obligation hereunder (determined without regard to any grace period otherwise specified) that by its terms can be cured solely by the payment of money.

Monetary Default means the failure to pay when due any amounts payable under this Agreement.

Monetary Default means failure to pay when due any rent or other monetary obligation of Tenant to Landlord under this Agreement; any other event of default is a “Non-Monetary Default.”

Monetary Default means any default which can be cured by the payment of money including, but not limited to, the payment of principal and interest due under this Note and the payment of taxes, assessments and insurance premiums when due as provided in the Security Deed. As used herein, the term "Non-Monetary Default" shall mean any default which is not a Monetary Default or an Incurable Default. As used herein, the term "Incurable Default" shall mean (i) any voluntary or involuntary sale, assignment, encumbering or transfer in violation of the covenants of Section 30 the Security Deed or (ii) if Maker or its general partner should make an assignment for the benefit of creditors, become insolvent, or file a petition in bankruptcy (including but not limited to, a petition seeking a rearrangement or reorganization).