Payment Defaults definition

Payment Defaults. (i) Accentia failed to pay off the Loans by September 1, 2004, and (ii) Accentia has failed to make the monthly interest payments on the Loans in accordance with the Assumption Agreement.
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Payment Defaults is defined in Section 3.16(b)(ii).
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Payment Defaults means the Defaults and Events of Default arising from failure to pay any Specified Amount on or prior to the date on which such Specified Amount is due and payable as set forth on Schedule 1 hereto;
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Examples of Payment Defaults in a sentence

  • If the Aggregator or CPG fails to maintain the Minimum Balance or in the event of two consecutive Payment Defaults, the Competitive Supplier may, at its sole discretion, either reduce or remove the Low- Income Consumer Discount at any time, and the Aggregator or CPG will have ten (10) Business Days to cure such Payment Default or Competitive Supplier shall be permitted to initiate and recoup such amounts through the Stop Gap Funding process described above.

  • There are no Material Payment Defaults of the Borrower and its Restricted Subsidiaries under Funded Debt Agreements, other than Funded Debt Agreements governing an aggregate principal amount of Funded Debt which is not in excess of $150,000,000.

  • IP shall be obligated to resume providing Products hereunder as soon as reasonably practicable after Sylvamo has cured all Uncured Payment Defaults within five (5) Business Days following such cure.

  • Each of the Payment Defaults defined above that occurred prior to February 9, 2005.

  • Subsection 9.04 Repurchase of Mortgage Loans with Early Payment Defaults...............................................

  • Repurchase of Mortgage Loans With First Payment Defaults...............................................

  • Subsection 9.05 Repurchase of Mortgage Loans with First Payment Defaults...............................................

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

  • For the avoidance of doubt, this Section 8.2 shall not apply to Payment Defaults under the Note.

  • Subsection 9.04 Repurchase of Mortgage Loans With First Payment Defaults...............................................


More Definitions of Payment Defaults

Payment Defaults means non-payment of scheduled interest, amortisation and other payments falling due, including any failure to make deposits to be made to the Debt Service Account, under the Bond Agreement during the Standstill Period, which consists of the following:
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Payment Defaults means the Company’s failure to pay to the MHR Funds the principal and interest due and payable on September 26, 2012 under the terms of the Convertible Notes and the Reimbursement Notes.
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Payment Defaults has the meaning set forth in Section 10.1 of the Loan Agreement.
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Payment Defaults. This Limited Warranty shall be void if the Purchaser is in default on any portion of its payment obligations to Innovative Growers Equipment.
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Payment Defaults. This Limited Warranty shall be void if the Purchaser is in default on any portion of its payment obligations to MSCSI.
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Related to Payment Defaults

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

  • Non-Payment Default has the meaning specified in Section 4.03.

  • 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.

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

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