Reporting Failure definition
Examples of Reporting Failure in a sentence
In the event Borrower fails to deliver to Lender any of the Required Financial Items within the time frame specified herein and such failure is not cured within ten (10) business days after notice from Lender (each such event, a "Reporting Failure"), without limiting Lender's other rights and remedies with respect to the occurrence of such an Event of Default, Borrower shall pay to Lender the sum of $1,000.00 per occurrence for each Reporting Failure.
The Agency shall evaluate, annually as of December 31, or at any time information is brought to the Agency’s attention, whether a Local Sales Tax Benefit Violation, Job Deficit, Investment Deficit, Reporting Failure, Event of Default, or Material Violation (each a “Noncompliance Event”) has occurred.
In the event that a Payment Default or a SEC Reporting Failure occurs and the Underlying Securities are liquidated at a loss, the Trustee will disclose pursuant to Treasury Regulation Section 1.6011-4 the loss in accordance with the procedures of such regulation, unless the Trustees obtain advice from counsel that such disclosure in not necessary.
Noncompliance Reporting: Failure to accurately report noncompliance in accordance with provisions identified in Section 6 of this permit.
In addition, Borrower shall promptly pay to Lender an additional late charge of Five Hundred and No/100 Dollars ($500.00) per Required Financial Item for each full month during which such Reporting Failure continues following written notice from Lender.