Payment Default Period definition

Payment Default Period shall have the meaning given to such term in Section 18.2
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Examples of Payment Default Period in a sentence

  • An invoice during the Payment Default Period and the Cure Period issued to the Defaulting Purchaser pursuant to Section 11 of this Agreement that identifies the total defaulted amount owed, including late payment interest, to achieve a Cured Payment Default.

  • An invoice during the Payment Default Period and the Cure Period issued to the Defaulting Purchaser pursuant to Section 15 of this Agreement that identifies the total defaulted amount owed, including late payment interest, to achieve a Cured Payment Default.

  • If the Defaulting Project Participant pays in full such default invoice within the Payment Default Period, the Defaulting Project Participant shall no longer be deemed a Defaulting Project Participant and its rights, including its Contract Shares, under its Power Sales Agreement shall not be subject to discontinuance, termination or disposal as provided for in Section 9.4 of its Power Sales Agreement.

  • During such Payment Default Period, SCPPA shall send to the Defaulting Project Participant a separate Default Invoice.

  • During the Payment Default Period, the Default Invoice shall also include the amount that must be paid to achieve Compliance.

  • During a Payment Default Period with respect to a Defaulting Project Participant, its rights, including its Contract Shares, under its Power Sales Agreement shall not be discontinued, terminated or disposed of as provided for in Section 9.4 of its Power Sales Agreement as a result of a Payment Default.

  • An invoice during the Payment Default Period and the Payment Default Period issued to a Defaulting Project Participant pursuant to Section 9 of this Agreement that identifies the total defaulted amount owed, including late payment interest, to achieve a Cured Payment Default.

  • A Loan that may be required to be repurchased by the Seller pursuant to Section 3.01(b) if the borrower fails to make a timely payment prior to the expiration of the related Early Payment Default Period.

  • If at any time during the Payment Default Period the Defaulting Project Participant is in Compliance, then the requirements of a Cured Payment Default shall be deemed to have been satisfied as of the date of receipt of such payments by SCPPA and the Payment Default Period shall expire.

  • The defaulting Lessee/Owner Party shall continue to be responsible for its allocated share of Operating Costs and Capital Costs in accordance with Article IX during the Payment Default Period.

Related to Payment Default Period

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

  • Default Period means, with respect to any Defaulting Lender, the period commencing on the date of the applicable Funding Default and ending on the earliest of the following dates: (i) the date on which all Commitments are cancelled or terminated and/or the Obligations are declared or become immediately due and payable, (ii) the date on which (a) the Default Excess with respect to such Defaulting Lender shall have been reduced to zero (whether by the funding by such Defaulting Lender of any Defaulted Loans of such Defaulting Lender or by the non-pro rata application of any voluntary or mandatory prepayments of the Loans in accordance with the terms of Section 2.13 or Section 2.14 or by a combination thereof) and (b) such Defaulting Lender shall have delivered to Company and Administrative Agent a written reaffirmation of its intention to honor its obligations hereunder with respect to its Commitments, and (iii) the date on which Company, Administrative Agent and Requisite Lenders waive all Funding Defaults of such Defaulting Lender in writing.

  • Non-Payment Default means any event (other than a Payment Default) the occurrence of which entitles one or more Persons to accelerate the maturity of any Designated Senior Indebtedness.

  • Senior Payment Default means any default in the payment of principal of (or premium, if any) or interest on any Senior Debt of the Company when due, whether at the Stated Maturity of any such payment or by declaration of acceleration, call for redemption or otherwise. In the event that any Senior Nonmonetary Default (as defined below) shall have occurred and be continuing, then, upon the receipt by the Company, the Subsidiary Guarantors and the Trustee of written notice of such Senior Nonmonetary Default from the agent for the Designated Senior Debt which is the subject of such Senior Nonmonetary Default, no Securities Payment shall be made during the period (the “Payment Blockage Period”) commencing on the date of such receipt of such written notice and ending on the earlier of (i) the date on which such Senior Nonmonetary Default shall have been cured or waived or shall have ceased to exist or all Designated Senior Debt the subject of such Senior Nonmonetary Default shall have been discharged; (ii) the 179th day after the date of such receipt of such written notice; or (iii) the date on which the Payment Blockage Period shall have been terminated by written notice to the Company, any Subsidiary Guarantor or the Trustee from the agent for the Designated Senior Debt initiating the Payment Blockage Period; provided, however, that nothing in this Section shall prevent the satisfaction of any sinking fund payment in accordance with Article Sixteen by delivering and crediting pursuant to Section 1602 Securities which have been acquired (upon redemption or otherwise) prior to the date of such receipt of such written notice. No more than one Payment Blockage Period may be commenced with respect to the Securities of a particular series during any 360-day period and there shall be a period of at least 181 consecutive days in each 360-day period when no Payment Blockage Period is in effect. For all purposes of this paragraph, no Senior Nonmonetary Default that existed or was continuing on the date of commencement of any Payment Blockage Period shall be, or be made, the basis for the commencement of a subsequent Payment Blockage Period, whether or not within a period of 360 consecutive days, unless such Senior Nonmonetary Default shall have been cured for a period of not less than 90 consecutive days.

  • Non-Monetary Default Cure Period shall have the meaning assigned to such term in Section 11(d).

  • Incipient Default means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default.

  • Non-Monetary Default Notice shall have the meaning assigned to such term in Section 11(d).

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Monetary Default Notice shall have the meaning assigned to such term in Section 11(a).

  • Bank Default means (i) the refusal (which has not been retracted) of a Bank to make available its portion of any Borrowing or to fund its portion of any unreimbursed payment under Section 2.03(c) or (ii) a Bank having notified in writing the Borrower and/or the Agent that it does not intend to comply with its obligations under Section 1.01 or Section 2, in the case of either clause (i) or (ii) as a result of any takeover of such Bank by any regulatory authority or agency.

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • Registration Default Period shall have the meaning assigned thereto in Section 2(c).

  • Non-Monetary Default shall have the meaning assigned to such term in Section 11(d).

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • Post-Default Rate means, in respect of any principal of any Loan or any other Obligation that is not paid when due (whether at stated maturity, by acceleration, by optional or mandatory prepayment or otherwise), a rate per annum equal to the Base Rate as in effect from time to time plus the Applicable Margin for Base Rate Loans plus four percent (4.0%).

  • Loan Default means an event, which with the giving of notice or lapse of time or both, would become a Loan Event of Default.

  • Net Default Charges With respect to any Mortgage Loan, Serviced Loan Combination or successor REO Mortgage Loan, the Default Charges referred to in clause third of Section 3.25(a) or clause fourth of Section 3.25(c), which are payable to the applicable Master Servicer as Additional Master Servicing Compensation or the applicable Special Servicer as Additional Special Servicing Compensation.

  • Monetary Default shall have the meaning assigned to such term in Section 11(a).

  • Preliminary Default Notice shall have the meaning ascribed thereto in Article 13 of this Agreement;

  • Default Fee means with respect to any amount due and payable by Seller in respect of any Aggregate Unpaids, an amount equal to the greater of (i) $1000 and (ii) interest on any such unpaid Aggregate Unpaids at a rate per annum equal to 2% above the Base Rate.

  • Specified Default means a Default under Section 8.01(a), (f) or (g).

  • Credit Default Swap means any credit default swap entered into as a means to (i) invest in bonds, notes, loans, debentures or securities on a leveraged basis or (ii) hedge the default risk of bonds, notes, loans, debentures or securities.

  • default value means a value derived from a typical value by the application of pre-determined factors and that may, in circumstances specified in this Directive, be used in place of an actual value;’;

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • Modification Default Loss means the loss calculated in Exhibits 2a(1)-(3) for single family loans previously modified pursuant to this Single Family Shared-Loss Agreement that subsequently default and result in a foreclosure, short sale or Deficient Loss.

  • Specified Defaults means, collectively, the Existing Defaults and the Anticipated Defaults.