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
No Protective Advance by Agent shall be construed as a waiver by Agent, or any Lender of any Default, Event of Default, Default Trigger Event, First Payment Default Trigger Event or any of the rights or remedies of Agent or any Lender.
In the event a Payment Default occurs, the Capital Loan shall be automatically accelerated and become immediately due and payable, and the Company immediately shall (1) pay to each Lender an amount equal to all outstanding principal owing to each Lender, and (2) issue an Interest Warrant to each Lender in an amount equal to and as payment for all accrued interest owing to each Lender.
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 provided in Section 7.01(e).
Payment Default shall have the meaning specified in Section 12.2(a).