Preferred Default definition

Preferred Default means a condition or event that constitutes a Preferred Event of Default or that, after notice or lapse of time or both, would constitute a Preferred Event of Default.
Sample 1Sample 2
Preferred Default means a Class A Default or a Class B Default, each ----------------- as defined in the Preferred Unit Purchase Agreement.
Sample 1
Preferred Default has the meaning given to such term in the Certificate of Designations.
Sample 1

Examples of Preferred Default in a sentence

  • Laboratory OutcomesAt the end of practical course the students will be familiarized about Titrations, Synthesis of organic compounds, protein determination and viscosity of solutions and temperature dependent properties of lubricant.

  • So long as a Preferred Default shall continue, any vacancy in the office of a Preferred Stock Director may be filled by written consent of the Preferred Stock Director remaining in office, or if none remains in office, by a vote of the holders of record of a majority of the outstanding shares of Series A Stock when they have the voting rights described above (voting separately as a class with all series of Parity Preferred upon which like voting rights have been conferred and are exercisable).

  • East-African environmentFollowing the discussion of the relevant definitions and the advantages and disadvantages of the main delivery channels in microinsurance, this section aims to examine the economic and financial market environment from Kenya, Tanzania, Uganda and Rwanda.

  • So long as a Preferred Default shall continue, any vacancy in the office of a Preferred Director may be filled by written consent of a majority of the Preferred Directors remaining in office, or if none remains in office, by a vote of the holders of record of a majority of the outstanding shares of Series B when they have the voting rights described above.

  • As used herein, "Preferred Default" shall mean a failure by the Corporation on any four consecutive Dividend Payment Dates to pay in full the dividends due and payable on such dates such that there are Accrued Dividends (whether or not declared) with respect to such four consecutive Dividend Payment Dates.

  • As used herein, "Preferred Default" shall mean a failure by the Corporation on any four consecutive Dividend Payment Dates to pay in full the dividends due and payable on such dates such that there are Accrued Dividends (whether or not declared) with respect o such four consecutive Dividend Payment Dates.

  • Any failure by Company to fully and timely comply with its covenants and agreements set forth herein shall constitute an immediate Event of Default under and as defined in the Purchase Agreement and a Preferred Default under and as defined in the Certificate of Designation.

  • The Company shall -------------- give BACI, New York Life and Northwestern written notice of each meeting of the Board and committees thereof at the same time and in the same manner as notice is given to the directors; provided, that the failure of the Company to provide -------- such a notice shall not affect the validity of any action taken at that meeting or constitute a Preferred Default.

  • We strongly encourage Planning staff to recruit or develop the skill set to thoroughly vet permit application information put forward, including technical information such as GHG emissions modeling or mitigation for allowable uses, if these skills are not already present within the Planning Department.

  • The change order subcommittee will meet following the SSBC meeting to discuss the latest round of changes prior to them being presented to the full SSBC on 8/2/2022 Unanimous consent to adjourn.

Related to Preferred Default

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

  • Unmatured Default means an event which but for the lapse of time or the giving of notice, or both, would constitute a Default.

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

  • Financing Default means an event which would constitute (or with notice or lapse of time or both would constitute) an event of default (which event of default has not been cured) under or would otherwise violate or breach (i) any financing arrangement of the Company or any of its Subsidiaries in effect as of the time of the aforementioned event, and any extensions, renewals, refinancings or refundings thereof in whole or in part; and (ii) any provision of the Company's or any of its Subsidiary's constitutional documents.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.

  • Potential Default means an event which but for the lapse of time or the giving of notice, or both, would constitute an Event of Default.

  • Liquidity Event of Default means the occurrence of either (a) the Acceleration of all of the Equipment Notes or (b) an American Bankruptcy Event.

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • Senior Default means any Senior Payment Default or Senior Covenant Default.

  • 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.

  • Funding Default as defined in Section 2.21.

  • Debenture Event of Default means an "Event of Default" as defined in the Indenture.

  • Indenture Default With respect to any Indenture, means any Event of Default (as such term is defined in such Indenture).

  • 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 Administrative 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.

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Amortization Event has the meaning specified in Article IX.

  • 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.

  • Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p).

  • Senior Event of Default means an Event of Default under a Senior Financing Agreement.

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

  • Special Default means (i) the failure by Owner to pay any amount of principal of or interest on any Equipment Note when due or (ii) the occurrence of any Default or Event of Default referred to in Section 5.01(v), (vi) or (vii).