Special Default definition

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).

Special Default means (i) the failure by Lessee to pay any amount of Interim Rent, Basic Rent, Renewal Rent, Stipulated Loss Value or Termination Value when due or (ii) the occurrence of any Lease Default or Lease Event of Default referred to in Section 14.5 of the Lease.

Special Default means a Default or Lease Event of Default under any of Sections 13(a), 13(b), 13(f) and 13(g) of the Lease.

Examples of Special Default in a sentence

• So long as no Special Default or Event of Default shall have occurred and be continuing, Owner may, by written notice to Mortgagee, request to change the country of registration of the Aircraft.

• After repayment or conversion of the entire outstanding balance, or the payment of the Special Default Payment, as the case may be, this Note shall be deemed paid in full, shall automatically be deemed canceled, and shall not be reissued.

• Upon such default under this Note, the Special Default Payment shall be immediately due and payable.

• At such time as there shall not be continuing any such Special Default or Event of Default, such amount shall be paid to the Borrower to the extent not previously applied in accordance with the preceding sentence.

• There shall be promptly remitted to Borrower or its order (but no more frequently than monthly) any gain (including interest received) realized as a result of any such investment (net or any, fees, commissions and other expenses, if any, incurred in connection with such investment) unless a Special Default or an Event of Default shall have occurred and be continuing.

More Definitions of Special Default

Special Default means the occurrence of any Default referred to in Section 6.01(i), (ii), (ix) and (x) of the Indenture.

Special Default has the meaning given in clause 16.2.

Special Default means a Payment Default or a Continental Bankruptcy Event.

Special Default means a Default under any of Section 8.01, 8.02, 8.06 or 8.07 of the Mortgage.

Special Default means any Event of Default pursuant to Section 7.1(a), and/or (b) or any event or condition that with the lapse of time or giving of notice, or both, would constitute an Event of Default under Section 7.1(a) and/or (b).

Special Default means an Event of Default or a Default under any of Section 8.01, 8.02, 8.06 or 8.07.

Special Default means the occurrence of (i) a Default under clause (i) or (ii) of Section 7.01(b) of the Credit Agreement or (ii) a Bankruptcy Event.