Settlement Default definition

Settlement Default means a transaction failed by a party or both parties who has not fulfilled its or their obligation within the settlement date.
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Settlement Default. The meaning specified in Section 7.03 of this Master Purchase Agreement.
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Examples of Settlement Default in a sentence

  • Interest shall be calculated on the Settlement Default Amount at the Prime Rate as published in the Wall Street ----------- Journal on the Effective Date of the Promissory Note plus 5% from the date of ------- the Event of Default.

  • In addition, NMC and FMCH will pay the United States all reasonable costs of collection and enforcement of the Settlement Default Amount, including attorneys' fees and expenses, plus interest as described in Paragraph 6.

  • Interest shall be calculated on the Settlement Default Amount at the Prime Rate as published in the Wall Street ----------- Journal on the Effective Date of this Agreement (as defined in Paragraph 38), ------- plus 5% from the date of the Event of Default.

  • In addition, in the event of a Settlement Default, the Purchaser, at its option, may cancel any other Transaction for which the Trade Date has occurred but the related Settlement Date has not yet occurred, and the Seller shall promptly reimburse the Purchaser for its Transaction Costs relating to such cancelled Transaction.

  • A certificate of Agent submitted to any Lender with respect to any Settlement Default Period Amounts owing under this paragraph (c) shall be conclusive, in the absence of manifest error.

  • The Settlement Amount plus accrued interest through the end of the applicable quarter as set forth in Paragraph 1 of the Promissory Note (minus any payments to date of principal and accrued interest) shall become immediately due and payable ("Settlement Default Amount").

  • The Settlement Amount plus accrued interest through the end of the applicable quarter as set forth in Paragraph 1 of the Promissory Note (minus any payments to date of principal and interest) shall become immediately due and payable ("Settlement Default Amount").

Related to Settlement Default

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

  • Non-Payment Default has the meaning specified in Section 4.03.

  • 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.

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

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