Payment Event of Default definition

Payment Event of Default means an Event of Default specified in Section 7.1(a).

Payment Event of Default means any default in the payment or required prepayment of principal of (or premium, if any, on) or interest on any Specified Senior Indebtedness when due (whether at final maturity, upon scheduled installment, upon acceleration or otherwise).

Payment Event of Default any default in the payment of the Senior Obligations (whether upon maturity, mandatory prepayment, acceleration or otherwise) beyond any applicable grace period with respect thereto.

Examples of Payment Event of Default in a sentence

• Such events shall include Payment Event of Default (see Term (44) of the Bonds).

• Our 25 review has two components: procedural review and substantive review.

• If the Borrower shall fail to reimburse the Issuing Lender as provided herein, the unreimbursed amount of such drawing shall constitute a Payment Event of Default and automatically bear interest at a per annum rate equal to the Default Rate subject to Section 2.8(b).

• The applicable Minimum Interest multiple will be increased regardless of whether Lender notifies Company of any Payment Event of Default.

• If any Payment Event of Default or Acceleration Event has occurred and is continuing, the Administrative Agent may (and shall, at the direction of the Required Lenders), from time to time, apply the collected balances in such cash collateral account to the payment of the Secured Obligations whether or not the Secured Obligations shall then be due.

More Definitions of Payment Event of Default

Payment Event of Default means any Event of Default pursuant to Sections 12.1(a) or (b).

Payment Event of Default means any default in the payment of Designated Senior Indebtedness.

Payment Event of Default. See §6.10.

Payment Event of Default means a Default specified in Section 7.2.

Payment Event of Default means an Event of Default specified in Section 9.1(a).

Payment Event of Default means any Event of Default specified in Section 11.1(a) or (b). “PBGC” means the Pension Benefit Guaranty Corporation or any successor agency.

Payment Event of Default means an Event of Default under subsections (a) or (b) of Section 801 of the Mortgage Indenture, or, with respect to failures to make payment only, Section 4.01(d).