Payment Default definition

Payment Default has the meaning set forth in Section 5.4(a) of the Indenture.
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 set forth in Section 6.01.

Examples of Payment Default in a sentence

  • If a Payment Default occurs, Provider may suspend performance of its obligations under this Agreement, which suspension right shall include, without limitation, the right for Provider to disconnect the System until receipt by Provider of the applicable overdue Monthly Payment.

  • Upon the occurrence of any Payment Default as described in Section 12.09(c) of this Plan.

  • Within 30 days after the Payment Default Date, the Servicing Company shall notify the Position Holder Trustee of the occurrence of the Payment Default, and the Position Holder Trust shall pay into the premium payment account provided for in the Servicing Agreement an amount equal to the amount unpaid by the Continuing Position Holder with respect to the Defaulted Fractional Position.

  • Within 30 days after the Position Holder Trustee receives notice of the Payment Default, the Position Holder Trust shall issue a Position Holder Trust Interest to the defaulting Continuing Fractional Holder (in the Holder’s new capacity as an Assigning Position Holder with respect to the Defaulted Fractional Position), representing a beneficial interest in the Position Holder Trust calculated as provided in Section 5.05(c) of this Plan.

  • Charges based on a fixed price [matrices to be included as relevant to the agreement with provider] Termination Payment Default In the event that at any time undisputed Charges of £20,000 have been overdue for payment for a period of 60 days or more, the Council will have committed a Termination Payment Default.


More Definitions of Payment Default

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.
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 with respect to any Indenture, has the meaning specified in such Indenture.
Payment Default means, with respect to the Auction Rate Notes, (a) a default in the due and punctual payment of any installment of interest on such Auction Rate Notes, or (b) a default in the due and punctual payment of any interest on and principal of such Auction Rate Notes at their maturity.
Payment Default means the failure on part of the Developer to make payment of the full amount of any instalment of the Lease Premium and/or the Annual Lease Rent along with the applicable interest thereof or failure to make any other payment due to be paid by the Developer to Authority, by the respective due date thereof;
Payment Default has the meaning specified in Section 4.03.
Payment Default shall have the meaning specified in Section 12.2.