Receipt Default definition

Receipt Default means the default of the physical Receipt of Gas as described in Section 6.9.8.
Sample 1Sample 2
Receipt Default means the failure by Operator not otherwise permitted or excused pursuant to the provisions of this Agreement, to discharge its obligations to receive Gas made available by Customer at the applicable Receipt Point(s), following Customer’s proper nomination for such receipt pursuant to the provisions of this Agreement.
Sample 1Sample 2
Receipt Default means a Party’s unexcused failure during any Gas Day or Month of the Transaction Period to discharge its obligations as specified in a Confirmation, to receive Gas made available by the other Party at the Receipt Point or the Delivery Point, as applicable.
Sample 1

Examples of Receipt Default in a sentence

  • Consequently, many of the knock-on impacts related to Mekong hydrology and sediment dynamics are unavoidable if the decision is taken to go ahead with the projects.

  • Upon request, the Party claiming a Receipt Default or Delivery Default by the other Party shall provide written documentation of such Receipt Default or Delivery Default in the form of allocation statements from the applicable Designated Pipeline(s).

  • Upon request of the defaulting Party, the non-defaulting Party shall provide written documentation of such Receipt Default or Delivery Default in the form of allocation statements from the applicable Transporter(s).

  • In any event, the non-defaulting Party shall provide written notice of the Receipt Default or Delivery Default, as the case may be, to the defaulting Party within three (3) days after the date of such Delivery Default or Receipt Default (for purposes of this Section, a “Default Notice”), and indicate in such Default Notice whether the non-defaulting Party desires to pursue a remedy.

  • In any event, the non-defaulting Party shall provide written notice of the Receipt Default or Delivery Default, as the case may be, to the defaulting Party within three (3) Gas Days after the date of such Delivery Default or Receipt Default (for purposes of this Section, a “Default Notice”), and indicate in such Default Notice whether the non-defaulting Partydesires to pursue a remedy.

  • In any event, the non-defaulting Party shall provide written notice of the Receipt Default or Delivery Default, as the case may be, to the defaulting Party within three (3) Gas Days after the date of such Delivery Default or Receipt Default (for purposes of this Section, a “Default Notice”), and indicate in such Default Notice whether the non-defaulting Party desires to pursue a remedy.


More Definitions of Receipt Default

Receipt Default means a party's failure during any Day or Month of a Transaction Period to discharge its obligation to receive Gas made available by the other party at the Storage Point of Delivery as required under the terms of a Transaction;
Sample 1

Related to Receipt Default

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

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

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • O & M Default means any default on the part of the Power Producer for a continuous period of ninety (90) days to (i) operate and/or (ii) maintain (in accordance with Prudent Utility Practices), the Project at all times.

  • Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

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

  • 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).

  • Default means any event which is, or after notice or passage of time or both would be, an Event of Default.

  • Non-Payment Default means any event (other than a Payment Default) the occurrence of which entitles one or more Persons to accelerate the maturity of any Designated Senior Indebtedness.

  • 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.

  • 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.

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

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

  • Bankruptcy Default has the meaning assigned to such term in Section 6.01.

  • Monetary Default Notice shall have the meaning assigned to such term in Section 11(a).

  • Minor Default means any Event of Default that is not a Major Default.

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

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

  • Monetary Default shall have the meaning assigned to such term in Section 11(a).

  • 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.

  • Notice of Default means a written notice of the kind specified in Section 501(4).

  • Non-Monetary Default Notice shall have the meaning assigned to such term in Section 11(d).

  • Non-Monetary Default shall have the meaning assigned to such term in Section 11(d).

  • 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 means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • 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).