Shipper Default Notice definition

Shipper Default Notice has the meaning given in clause 22.2.
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Shipper Default Notice shall have the meaning given to such term in Section 8.2(a) of this Agreement.
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Shipper Default Notice has the meaning set forth in Section X.B.i.
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Examples of Shipper Default Notice in a sentence

  • If an event referred to in any one or more of clauses 22.1(a) to 22.1(f) (inclusive) occurs, then the Operator may give notice in writing to the Shipper specifying the nature of the default and requiring the Shipper to rectify the default (Shipper Default Notice).

  • Shipper is found to be materially in breach of any warranty given to Operator in this Contract, or if any statement or representation made by any means or in any document by Shipper to Operator, is found to be false or misleading in any material particular,and Shipper fails to remedy that event within the relevant period determined in accordance with clause 22.3(b) following the giving of a Shipper Default Notice by Operator.

  • Upon the occurrence of a Shipper Default with respect to its obligations under this Agreement, the Rules Tariff or Rate Tariffs, Carrier may provide written notice to Shipper describing the Shipper Default in reasonable detail and requiring Shipper to cure the Shipper Default (the " Shipper Default Notice").

  • If a Shipper Default has not been cured within ten (10) Business Days following receipt by Shipper of a Shipper Default Notice, then in addition to Carrier’s right to enforce Carrier’s rights and remedies provided for in this Agreement, the Tariff and under Applicable Law, Carrier shall not be obligated to accept Shipper’s Product for transportation and may suspend the provision of other Services to Shipper during the continuance of the Shipper Default.

  • Notwithstanding anything in this Agreement to the contrary, during the continuance of a Default by Shipper, and after Carrier has provided a Shipper Default Notice which is not cured within ten (10) Business Days, the tariff rate payable by Shipper for its Committed Volume shall be the applicable Regular Shipper Rate then in effect as further described in Schedule B and shall be retroactively applicable from the date of Shipper Default Notice.


More Definitions of Shipper Default Notice

Shipper Default Notice is defined in Section 14(a).
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Shipper Default Notice has the meaning given in clause 18.2.
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Shipper Default Notice has the meaning given to such term in Clause 13.2(a)(i). “Shipper Event of Default” has the meaning given to such term in Clause 13.1(a). “Shipper LC” has the meaning given to such term in Clause 8.8(a).
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Shipper Default Notice has the meaning given to it in Section 9.02.1;
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Shipper Default Notice has the meaning given to it in Section 10.02 of this Agreement;
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Shipper Default Notice shall have the meaning given to such term in Section 19.2 of this Agreement. “Shipper Indemnified Party” means Shipper and its Affiliates, and all of its and their respective equityholders, partners, members, directors, officers, managers, employees, agents and representatives. “Shipper’s Maximum Daily Quantity” or “MDQ” shall mean, with respect to any Contract Year, the volume of Crude Oil (expressed in BPD) set forth for such Contract Year in the table captioned “MDQ” in Exhibit B attached hereto, for which Shipper shall receive Priority Service as set forth in Section 6.2 hereof. With respect to any Contract Year beginning on or after the fourth (4th) anniversary of the Commencement Date, Gatherer shall have the option, by delivering written notice to Shipper on or before the date that is thirty (30) Days prior to the start of any such Contract Year, to reduce Shipper’s Maximum Daily Quantity for such Contract Year to an amount equal to the lesser of (x) the MDQ that was in effect at the end of the immediately preceding Contract Year or (y) 110% of the ADV of Shipper Crude Oil delivered or available for delivery hereunder by Shipper to Gatherer during the immediately preceding twelve (12)
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Related to Shipper Default Notice

  • Default Notice means the written notice of Default of the Agreement issued by one Party to the other.

  • Preliminary Default Notice shall have the meaning ascribed thereto in Article 13 of this Agreement;

  • Customer Default has the meaning set out in clause 8.3.

  • 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.

  • 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)).

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

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

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

  • 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.

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

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

  • Forbearance Default means: (A) the failure of the Company to provide the Noteholder Group and its financial advisors with reasonable access, as determined by the Noteholder Group in its reasonable discretion, to its Chief Executive Officer, other senior executives and outside advisors, including representatives of Xxxxx Xxxxx Xxxxxx that are working with the Company, and to provide the Noteholder Group and its legal and financial advisors with any and all due diligence information they may reasonably request, including, without limitation, the Company’s current 13-week cash flow schedule, and all updates thereto as soon as reasonably practicable after they are prepared, but in no event no later than two (2) business days thereafter; (B) the failure of the Company to engage in good faith negotiations with the Noteholder Group regarding a potential restructuring transaction, which determination shall be made by the Noteholder Group in its reasonable discretion; (C) the failure of the Company to promptly notify the Noteholder Group of the occurrence of a Forbearance Default (as defined in the DDJ Third Amended Forbearance Agreement) under the DDJ Third Amended Forbearance Agreement or any amendment or modification to the DDJ Third Amended Forbearance Agreement; (D) termination of the DDJ Third Amended Forbearance Agreement; (E) the execution of any amendment or modification to the DDJ Third Amended Forbearance Agreement, which amendment or modification has a material adverse effect on the Noteholder Group as determined by the Noteholder Group in its reasonable discretion; (F) termination by the Company of the Xxxxxx Engagement Letter or the failure of the Company to pay Xxxxxx’x fees, expenses and indemnity in accordance with the terms of the Xxxxxx Engagement Letter; (G) the occurrence of any Event of Default that is not a Specified Existing Default; (H) the failure of the Company to comply with any term, condition, covenant or agreement set forth in this Third Amended Forbearance Agreement; (I) the failure of any representation or warranty made by the Company under this Third Amended Forbearance Agreement to be true and correct in all material respects as of the date when made; (J) the commencement by or against the Company or any of the Subsidiaries of a case under title 11 of the United States Code; or (K) the commencement of any action or proceeding by any creditor of the Company or any of the Subsidiaries seeking to attach or take similar action against the assets of the Company or the Subsidiaries. Any Forbearance Default shall constitute an immediate Event of Default under the Indenture.

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

  • Default Right has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

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

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

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

  • Bond Event of Default means the occurrence of any of the following (or such event or condition which with notice or lapse of time or both would constitute any of the following):

  • Material Event of Default means any Event of Default arising under Section 10.01(a), 10.01(b) (solely with respect to a default related to Section 8.01, 8.20 or 9.13), 10.01(f), 10.01(i), 10.01(j), 10.01(n) or 10.01(o).

  • 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.

  • 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).

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).