Nonpayment definition

Nonpayment means, with respect to any Distribution Date, an Insured Amount is Due for Payment but has not been paid pursuant to the Agreement.

Nonpayment means, with respect to any Distribution Date, an Insured Amount which is Due for Payment but has not been and will not be paid in respect of such Distribution Date pursuant to the Agreement.

Nonpayment means, with respect to any Distribution Date, Policy Claim Amounts which are Due for Payment but have not been paid pursuant to the Indenture.

Examples of Nonpayment in a sentence

• Nonpayment of any such charges is not grounds for termination of tenancy.

• Any such vote of stockholders to remove, or to fill a vacancy in the office of, a Preferred Stock Director may be taken only at a special meeting of such stockholders, called as provided above for an initial election of Preferred Stock Director after a Nonpayment Event (unless such request is received less than 90 days before the date fixed for the next annual or special meeting of the stockholders, in which event such election shall be held at such next annual or special meeting of stockholders).

• Nonpayment of premiums or contribution for a specific Member by the Group.

• Nonpayment of any billed charge which is in dispute or for the nonpayment of a deposit which is in dispute during the period before a determination of the dispute is made by the Company in accordance with Company's complaint handling procedures.

• Non-payment of the shortfall referred to in this Condition 12 will not constitute an Event of Default.

More Definitions of Nonpayment

Nonpayment means, with respect to any Payment Date or with respect to the Final Payment Date, an Insured Amount which is Due for Payment but has not and will not be paid in respect of such Payment Date or Final Payment Date pursuant to the Indenture.

Nonpayment means, with respect to any Distribution Date, a Deficiency Amount owing to the Subordination Agent for distribution to the Class G Certificateholders or, if applicable, the Escrow Receiptholders in respect of such Distribution Date.

Nonpayment has the meaning set forth in Section 16.7(a).

Nonpayment means, with respect to any Distribution Date, an Insured Amount is Due for Payment but the funds, if any, remitted to the Trustee pursuant to the Pooling Agreement are insufficient for payment in full of such Insured Amount.

Nonpayment means the nonpayment of a payment that becomes due during the emergency period to a landlord, including a payment of rent, late charges, utility or service charges or any other charge or fee as described in the rental agreement or ORS 90.140, 90.302, 90.315, 90.392, 90.394, 90.560 to 90.584 or 90.630.

Nonpayment means the failure of the Issuer to have provided sufficient funds to the Trustee or the Paying Agent for payment in full of all principal and interest Due for Payment on the Bonds. It is further understood that the term Nonpayment in respect of a Bond also includes any amount previously distributed to the holder of such Bond in respect of any Insured Payment by or on behalf of the Issuer, which amount has been recovered from such holder pursuant to the United States Bankruptcy Code in accordance with a final, nonappealable order of a court having competent jurisdiction that such payment constitutes an avoidable preference with respect to such holder. Nonpayment does not include nonpayment of principal or interest caused by the failure of the Trustee or the Paying Agent, to pay such amount when due and payable.

Nonpayment has the meaning set forth in Section 2.7(a) of this Unit Designation.