Payment Failure definition

Payment Failure means a failure by the Generator to pay a Net Payable Amount in accordance with Condition 23.1 (except to the extent that such failure is due to the occurrence of a Payment Disruption Event and the Generator, as the PDE Affected Party, has complied with Condition 68.2 but irrespective of whether or not the Generator has paid any such Net Payable Amount within the applicable NPA Payment Cure Period);

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Payment Failure has the meaning set forth in Section 6.3(a).

Payment Failure has the meaning set forth in Section 14.01(a).

Examples of Payment Failure in a sentence

• In the event a claim is made in writing against the Contractor or the Company during the continuance of a Payment Failure Event or following the Termination Date, the Company shall be entitled to assume the defense of such claim, with legal counsel selected by the Company, upon the delivery to the Contractor of written notice of its election to do so.

• For the avoidance of doubt, the obligation of Softbank under this Section 3 shall remain in full force and effect notwithstanding the termination of the Standby Purchase Agreement, the Distribution Agreement or the Amended Alliance Agreement (including, without limitation, the Attachment and Addendum) or the occurrence of a Modification Event or a Payment Failure (as such terms are defined in the Distribution Agreement).

• Upon the occurrence of an Initial Payment Failure Event, this Agreement shall immediately terminate pursuant to clause (i) of Section 6.1.3 (Failure to Pay).

• Upon occurrence and during the existence of a Buyer Payment Failure, the Performing Buyer shall have a right of first refusal to purchase all or any portion of Tendered Product in excess of 27,000 tonnes per Month.

• In the event the Reinsurer delivers a Payment Failure Notice that specifies the Payment Failure Termination Date and the Ceding Company pays the Reinsurer all amounts that are then due and payable to the Reinsurer prior to the Payment Failure Termination Date, then the Reinsurer shall not be entitled to terminate this Agreement.

More Definitions of Payment Failure

Payment Failure means any failure by the Corporation to pay (or set aside for payment): (i) any dividends in respect of any Share of Variable Cumulative Preferred Stock which have accumulated during any Dividend Period applicable to such Share on the last Dividend Payment Date with respect to such Dividend Period or (ii) the redemption price in respect of Shares of Variable Cumulative Preferred Stock called for redemption on the date of redemption, provided that, in the case of either clause (i) or (ii) above, such failure shall continue unremedied for more than three Business Days.

Payment Failure has the meaning set out in Section 18.4.

Payment Failure means a failure by the Emitter to pay any Net Payable Amount in accordance with Condition 12.1, Condition 12.2 or Condition 12.3 (Payment from Emitter) (as applicable) (except to the extent that such failure is due to the occurrence of a Payment Disruption Event and the Emitter, as the PDE Affected Party, has complied with Condition 55.2 (Conditions to Payment Disruption Event relief) but irrespective of whether or not the Emitter has paid any such OP Net Payable Amount within the applicable NPA Payment Cure Period);

Payment Failure means a failure by the Generator to pay a Net Payable Amount in accordance with Condition 23.123.123.1 (except to the extent that such failure is due to the occurrence of a Payment Disruption Event and the Generator, as the PDE Affected Party, has complied with Condition 68.268.268.2 but irrespective of whether or not the Generator has paid any such Net Payable Amount within the applicable NPA Payment Cure Period);

Payment Failure means in respect of a party to this Agreement, a failure by such party to make, when due, any payment under this Agreement.

Payment Failure means your financial institution dishonouring or rejecting a debit payment;

Payment Failure means a failure by the Company to pay to the Holders on or within three Business Days (i) after any Dividend Payment Date, the full amount of any dividends to be paid on such Dividend Payment Date on any share of the Series A Stock or (ii) after any redemption date, the redemption price to be paid on that redemption date on any share of the Series A Stock with respect to which a notice of redemption has been given.