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.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Payment Defaults is defined in Section 3.16(b)(ii).

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;

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:

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.

Payment Defaults has the meaning set forth in Section 10.1 of the Loan Agreement.

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.

Payment Defaults. This Limited Warranty shall be void if the Purchaser is in default on any portion of its payment obligations to MSCSI.