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
Test 3.3(s) – 1: No Payment Default Observe the Receivable in Ford Credit's receivables system and confirm it was not more than 30 days Delinquent as of the Cutoff Date.
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).