Modification Default Loss means the loss calculated in Exhibits 2a(1)-(3) for single family loans previously modified pursuant to this Single Family Shared-Loss Agreement that subsequently default and result in a foreclosure, short sale or Deficient Loss.
Loan Default means an event, which with the giving of notice or lapse of time or both, would become a Loan Event of Default.
Registration Default As defined in Section 5 hereof.
Non-default Rate means a rate per annum equal to the cost (without proof or evidence of any actual cost) to the Non-defaulting Party (as certified by it) if it were to fund the relevant amount.
in default means that, as to any Mortgage Loan, any Mortgage Note payment or escrow payment is unpaid for thirty (30) days or more after its due date (whether or not the Seller has allowed any grace period or extended the due date thereof by any means) or another material default has occurred and is continuing, including the commencement of foreclosure proceedings or the commencement of a case in bankruptcy for any Customer in respect of such Mortgage Loan.
Non-Defaulting Party has the meaning specified in Section 6(a).
Registration Default Period shall have the meaning assigned thereto in Section 2(c).
Non-Defaulting Member means a Member who is not a Defaulting Member.
Non-Defaulting Bank means each Bank other than a Defaulting Bank.
Lease Default means any event or condition which, with the lapse of time or the giving of notice, or both, would constitute a Lease Event of Default.
MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);
Registration Default Damages shall have the meaning set forth in Section 8 hereof.
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.
Non-Defaulting Lender means, at any time, each Lender that is not a Defaulting Lender at such time.
Minor Default means any Event of Default that is not a Major 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.
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.
Subordination Deficiency With respect to any Distribution Date, the excess, if any, of (a) the Specified Subordinated Amount applicable to such Distribution Date over (b) the Subordinated Amount applicable to such Distribution Date.
Non-Monetary Default Cure Period shall have the meaning assigned to such term in Section 11(d).
Monetary Default shall have the meaning assigned to such term in Section 11(a).
Monetary Default Notice shall have the meaning assigned to such term in Section 11(a).
Additional Default means any provision contained in any document or instrument creating or evidencing Indebtedness of the Borrower or any of its Subsidiaries which permits the holder or holders of such Indebtedness to accelerate (with the passage of time or giving of notice or both) the maturity thereof or otherwise requires the Borrower or any of its Subsidiaries to purchase such Indebtedness prior to the stated maturity thereof and which either (i) is similar to any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement, but contains one or more percentages, amounts or formulas that is more restrictive or has a xxxxxxx xxxxx period than those set forth herein or is more beneficial to the holder or holders of such other Indebtedness (and such provision shall be deemed an Additional Default only to the extent that it is more restrictive or more beneficial) or (ii) is different from the subject matter of any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement.
Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.
Non-Monetary Default shall have the meaning assigned to such term in Section 11(d).
Incipient Default means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default.
Preliminary Default Notice shall have the meaning ascribed thereto in Article 13 of this Agreement;