Noncompliance Event definition

Noncompliance Event means the Criminal Information and the DPA, and the entry by FE into the DPA, together with those events, actions, or omissions to act that are described in the Criminal Information and the Statement of Facts attached thereto.

Noncompliance Event shall have the meaning given to such term in Section 5.03.

Noncompliance Event means each of the following events or conditions:

Examples of Noncompliance Event in a sentence

• The Covered Entities and their respective officers and employees and, to the knowledge of such Borrower, the Covered Entities’ directors, officers, employees and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects, except for the Noncompliance Event.

• Construction Noncompliance Adjustment means the amount assigned to each Construction Noncompliance Event as set forth in Exhibit 10 (Payment Mechanism).

• The notice shall provide reasonable detail of the circumstances of the Noncompliance Event and shall identify the Noncompliance Event and Cure Period that is applicable to the relevant Noncompliance Event.

• The determination shall provide terms, if any, by which a Applicant may remedy any Noncompliance Event upon which the determination was based.

• The Borrowers have provided to the Administrative Agent on or prior to the Amendment Effective Date a true and complete (i) list and copy of all policies and procedures currently in place at each Borrower and each Covered Entity related to compliance with Anti-Corruption Laws and (ii) summary and description of all remedial actions taken by, changes made by, or other responses of each Borrower and each Covered Entity with respect to the Noncompliance Event.

More Definitions of Noncompliance Event

Noncompliance Event means either or both of the following:

Noncompliance Event means any DB Contractor breach or failure to meet one of the requirements as set forth in Exhibit 16 to this DBA.

Noncompliance Event has the meaning set forth in Section 11.1.1.

Noncompliance Event means any Maintenance Contractor breach or failure to meet the minimum performance requirements as set forth in Attachment 1 to Exhibit 2 to the Comprehensive Maintenance Agreement.

Noncompliance Event means each event identified as a “Noncompliance Event” in Exhibit 4 (Performance Deductions).

Noncompliance Event shall have the meaning given to such term in Section 5.03. “OFAC list” shall have the meaning given to such term in Section 5.01(a)(iv). “Order” shall mean any administrative decision or award, decree, injunction, judgment, order, quasi-judicial decision or award, ruling, or writ of any federal, state, local or foreign or other court, arbitrator, mediator, tribunal, administrative agency, or Governmental Authority. “Outstanding Balance” shall mean, as of any specified date, the face value of a Loan plus the amount of any interest, fees or other amounts due under or with respect to such Loan minus any payments, credits, or other amounts credited against such Loan, all as contemplated by the Servicing Agreement. “Performance Fee” shall have the meaning given to such term in the Servicing Agreement. “Performance Termination Event” shall have the meaning given to such term in Section 6.02. “Performance Threshold” shall mean the annualized monthly Portfolio Credit Losses as a percentage of the aggregate Outstanding Balances of all Category A Loans measured at month- end on a rolling three months basis. “Permit” shall mean any federal, state, local, and foreign governmental approval, authorization, certificate, easement, filing, franchise, license, notice, permit, or right to which any Person is a party or that is or may be binding upon or inure to the benefit of any Person or its securities, assets, or business. “Person” shall mean any legal person, including any individual, corporation, limited liability company, partnership, joint venture, association, joint-stock company, trust, unincorporated organization, governmental entity or other entity of any nature. “Portfolio Credit Losses” shall mean, for each calendar month, an amount equal to (a) the Outstanding Balance of all Category A Loans (i) that, as of the last day of such month, were past due by 4 or more monthly payments, or (ii) that, during such month, Servicer charged off as a result of the sole Borrower or all co-Borrowers (as applicable) being the subject of a bankruptcy or similar proceeding or having died (it being agreed that such Category A Loans much be charged off in respect of the events described in this clause (ii) no later than the date required

Noncompliance Event means any of the events or circumstances ------------------- specified in Section 8.01.