Non-Payment Event definition

Non-Payment Event as defined in Section 5.4.
Non-Payment Event means failure of the Corporation to redeem any shares of Series B‑1 Preferred Stock as and when required in accordance with Section 7 of this Certificate of Designations, in either case which is not cured within five (5) days after written notice from Ares after such default.
Non-Payment Event has the meaning set forth in Section 4.02 hereof.

Examples of Non-Payment Event in a sentence

  • Customer Bankruptcy, Customer Non-Payment Event, or as Consented to.

  • Securityholders shall have no claim in respect of any Interest Payment Amount (or any part thereof) not paid as a result of either a Non-Payment Election or a Non-Payment Event (in each case, irrespective of whether notice of such Non-Payment Election or Non-Payment Event has been given in accordance with this Condition 5.8) and any non-payment of an Interest Payment Amount (or any part thereof) in such circumstances shall not constitute an Enforcement Event.

  • Accordingly, CGIF will have no obligations to make payments under the CGIF Guarantee if a Demand for payment of a Guaranteed Amount is delivered to CGIF after the relevant Demand Period (other than in respect of a Demand in the connection with a CGIF Non-Payment Event where no Demand Period is applicable).

  • However, the holders of the Capital Securities shall have no claim in respect of any Interest Payment Amount not paid as a result of either a Non-Payment Election or a Non-Payment Event and the consequential non-payment of any Interest Payment Amount in such a circumstance shall not constitute an Enforcement Event.

  • In the event of a Non-Payment Event or a Non-Payment Election, certain restrictions on declaration of dividends and redemption of certain securities by the Issuer and the Guarantor will apply in accordance with Condition 5.9 (Dividend and Redemption Restrictions).


More Definitions of Non-Payment Event

Non-Payment Event has the meaning specified in Section 5.02.
Non-Payment Event has the meaning specified in Section 2.01(b).
Non-Payment Event has the meaning given to it in Condition 8.1 (Non-Payment Event);
Non-Payment Event means the occurrence of a non-payment event 30 days after the occurrence of a Missed Payment Event in accordance with Condition 11(1)(a) of these Conditions of Bonds; and
Non-Payment Event has the meaning set forth in Section 5(h).
Non-Payment Event shall have the meaning as specified in Article 9.2.
Non-Payment Event means failure of the Company to (i) make, on any Dividend Payment Date, any cash dividend payments the Company is obligated to make on such Dividend Payment Date pursuant to the Series A Certificate, or (ii) redeem any shares of Series A Preferred Stock as and when required in accordance with Series A Certificate, in either case which is not cured within five (5) days after written notice from the Stockholders' Representative after such default.