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

  • Each of the following shall constitute an Event of Default under this Agreement: Payment Default.

  • Notwithstanding anything herein to the contrary, if the Event of Default does not relate to a Payment Default or Bankruptcy Event with respect to the Issuer, the Indenture Trustee may not sell or otherwise liquidate the Trust Estate unless the Holders of all Outstanding Notes consent to such sale or the proceeds of such sale are sufficient to pay in full the principal of and accrued interest on the Outstanding Notes.

  • Each of the following shall constitute an event of default ("Event of Default") under this Note: Payment Default.

  • Each of the following shall constitute an event of default (“Event of Default”) under this Note: Payment Default.

  • If a Payment Default occurs, the Non-Defaulting Party may suspend performance of its obligations under this Agreement.


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 shall have the meaning specified in Section 12.2.
Payment Default has the meaning specified in Section 5.1.
Payment Default means any default in the payment of principal of (or premium, if any) or interest on Senior Indebtedness.
Payment Default shall have the meaning specified in Section 6.1(d).
Payment Default with respect to any Indenture, has the meaning specified in such Indenture.
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.