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.