Other Payment Default definition
Other Payment Default if the Borrower fails to pay:
Other Payment Default if the Borrower fails to pay:
(i) any interest (including, if applicable, default interest) on any Loan;
(ii) any stamping fee with respect to Bankers’ Acceptances;
(iii) any issue fee, fronting fee or administrative charge with respect to a Letter of Credit;
(iv) any standby fees payable hereunder; or
(v) any other amount not specifically referred to herein payable by the Borrower hereunder (except the costs and expenses referred to in Section 12.1(a)); in each case when due and payable, and such default is not remedied within two Banking Days;
Examples of Other Payment Default in a sentence
Whenever an Event of Other Payment Default continues and has not been remedied within 15 days, a Note Holder may deliver to the Company a request in writing that a part or all of Holder’s Notes be converted into the Company’s common stock at an adjusted conversion price equal to the common stock’s Volume Average Price as reported by Bloomberg (“VWAP”) during the 15 days prior to date that the written conversion request was received by the Company.
An event of Other Payment Default shall occur if, after the date that any interest or sinking fund payment is due, the respective payment has been not paid in full.