Non-Monetary Default shall have the meaning assigned to such term in Section 11(d).
Non-Monetary Default means the occurrence of any default, other than the failure to pay principal, premium or interest, on the Bonds or any document or instrument related to the Bonds.
Non-Monetary Default means 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).
Examples of Non-Monetary Default in a sentence
Any Non-Monetary Default, other than those specifically addressed in Section 1.21.2 or Section 1.21.3, that is not cured within thirty (30) days after Notice to the Party in Default describing the Non-Monetary Default in reasonable detail.
More Definitions of Non-Monetary Default
Non-Monetary Default means an Event of Default other than a Monetary Default.
Non-Monetary Default means any default that is not a Monetary Default or an Incurable Default. As used herein, the term “Incurable Default” shall mean either: (i) any voluntary or involuntary sale, assignment, mortgaging, encumbering or transfer in violation of the covenants contained herein or any of the other Loan Documents; or (ii) if Borrower, or any person or entity comprising Borrower or any guarantor or indemnitor of the Loan, should breach any of the provisions of Section 22.
Non-Monetary Default means any default under Section 8 of this Agreement other than a Monetary Default.
Non-Monetary Default means any default that is not a Monetary Default or an Incurable Default. As used herein, the term "Incurable Default" shall mean either: (i) any voluntary or involuntary sale, assignment, mortgaging, encumbering or transfer of the Property or ownership interests in Borrower in violation of the covenants contained herein or any of the other Loan Documents; or (ii) if Borrower should breach any of the provisions of Section 22 of this Mortgage. The failure or omission on the part of Lender to exercise the option for acceleration of maturity of the Note and foreclosure of this Mortgage during the continuance of any Event of Default as aforesaid or to exercise any other option or remedy granted hereunder to Lender when entitled to do so in any one or more instances, or the acceptance by Lender of partial payment of the Loan, whether before or subsequent to an Event of Default hereunder, shall not constitute a waiver of any such Event of Default or the right to exercise any such option or remedy, but such option or remedy shall remain continuously in force. Acceleration of the maturity of the Note, once claimed hereunder by Lender, at the option of Lender, may be rescinded by written acknowledgment to that effect by Lender, but the tender and acceptance of partial payments alone shall not in any way either affect or rescind such acceleration of maturity, nor act as a waiver, accord and satisfaction, modification, novation or similar defense.
Non-Monetary Default means any default which is not a Monetary Default or an Incurable Default. As used herein, the term “Incurable Default” shall mean either: (i) any voluntary or involuntary sale, assignment, mortgaging or transfer of the Property or ownership interests in Borrower in violation of the covenants of the Mortgage; or (ii) if Borrower, or any person or entity comprising Borrower, should make an assignment for the benefit of creditors, become insolvent, or file (or have filed against it) a petition in bankruptcy (including but not limited to, a petition seeking a rearrangement or reorganization) which is not dismissed within thirty (30) days after the filing of same. Notwithstanding any provision of this Note to the contrary, during any period of default and regardless of any cure period applicable to such default, in each instance under this Note, the Mortgage, or any of the other Loan Documents in which either: (i) Borrower is permitted to take a material action without Lender’s consent; or (ii) Lender’s consent is to be exercised reasonably, Lender’s consent shall be required and shall be granted or withheld in Lender’s sole and absolute discretion.
Non-Monetary Default means a breach of any of the representations, warranties, covenants or other agreements contained herein, other than a Monetary Default.
Non-Monetary Default means any failure by Tenant to comply with any terms or provisions of, or perform as required by, this Restated Lease, other than a Material Monetary Default or a Non-Material Monetary Default. A Bankruptcy Default shall be considered a Non-Monetary Default.