Payment Default definition
Payment Default has the meaning set forth in Section 5.4(a) of the Indenture.
Payment Default has the meaning set forth in Section 6.01.
Payment Default means any default, whether or not any requirement for the giving of notice, the lapse of time or both, or any other condition to such default becoming an event of default has occurred, in the payment of principal of (or premium, if any) or interest on or any other amount payable in connection with Designated Senior Debt.
Examples of Payment Default in a sentence
For the avoidance of doubt, if such Payment Defaulting Holder is a Defaulting FI Member Owner, all distributions from the Company to the FI Member shall be reduced by an amount that is required to be distributed instead to the Curing Holders pursuant to this Section 13.6(a), which amount would otherwise be distributed to the FI Member for ultimate distribution to such Defaulting FI Member Owner if such Defaulting FI Member Owner had not made a Payment Default.
More Definitions of Payment Default
Payment Default means the occurrence of an event that would give rise to an Event of Default under Section 4.01(a) of the Indenture upon the giving of notice or the passing of time or both.
Payment Default has the meaning specified in Section 5.1.
Payment Default has the meaning specified in Section 4.03.
Payment Default means any failure to pay any scheduled installment of interest or principal on any Indebtedness within the grace period provided for such payment in the documentation governing such Indebtedness.
Payment Default means any default in the payment of principal of (or premium, if any) or interest on Senior Indebtedness.
Payment Default has the meaning specified in Section 15.2.
Payment Default has the meaning provided in Section 7.01(e).