Wilful Default definition

Wilful Default means a deliberate act or omission which will result in (and can reasonably be expected to have been intended to result in) a breach of this Agreement and which, as soon as practicable, but in any event within 30 days after written notice (particularising the alleged breach) is given to the party alleged to be in default, is not either:
Wilful Default in relation to Party B in respect of a Sub-Fund means, subject to Section 14(d)(iii), any wilful failure by Party B to comply with, or wilful breach by Party B of, any of its obligations under any Transaction Document relating to the Sub-Fund, other than a failure or breach which:
Wilful Default means a deliberate or conscious breach of this Agreement by any of the Parties which has a Material Adverse Effect on the other Party.

Examples of Wilful Default in a sentence

  • The Trustee must not amend the Trust Deed in any way that might reduce the scope of its entitlement to indemnity out of the Trust as specified in clause [17.2] of the Trust Deed nor the definitions of "Gross Negligence" or "Wilful Default" (as each is defined in the Trust Deed) as those provisions stand at the date of the Trust Deed (such provisions being set out in schedule 4).

  • The Trustee must not amend the Trust Deed in any way that might reduce the scope of its entitlement to indemnity out of the Trust as specified in clause [17.2] of the Trust Deed nor the definitions of "Gross Negligence" or "Wilful Default" (as each is defined in the Trust Deed) as those provisions stand at the date of the Trust Deed (such provisions being set out in schedule 4 of the Integrated Network Deed).

  • The Trustee is not responsible for any Loss (including Consequential Loss) attributable to the postponement except to the extent that the Loss is caused by the Trustee having committed fraud, Gross Negligence or Wilful Default.

  • No attorney, agent, delegate or Receiver appointed in accordance with any Transaction Document has authority to act on behalf of the Security Trustee in a way which exposes the Security Trustee to any personal liability and no act or omission of any such person will be considered fraud, negligence or Wilful Default of the Security Trustee for the purpose of paragraph (3) above.

  • The limitation of liability in this clause 7.3 will not apply to any liability of the Trustee to the extent that the liability is not satisfied out of the property of the Trust because there is a reduction in the Trustee’s right of indemnity as a result of the Trustee committing fraud, Gross Negligence, Wilful Default, breach of trust or breach of the Trust Deed or the Unit Holders Deed.


More Definitions of Wilful Default

Wilful Default in relation to Party B means a wilful default of the Master Trust Deed or the Relevant Security Trust Deed (as the case may be) by Party B:
Wilful Default of Party B means the fraud, negligence or wilful default of Party B and of its officers, employees, agents and any other person where Party B is liable for the acts or omissions of such other person under the terms of any Transaction Document in relation to the relevant Sub-Fund;
Wilful Default means a wilful and intentional or reckless breach by a Party of any of its obligations under this Agreement.
Wilful Default in relation to the Trustee or the Manager, means, subject to clause 1.3(k), any wilful failure by the Trustee to comply with, or wilful breach by the Trustee or the Manager (as the case may be) of, any of its obligations under any Transaction Document, other than a failure or breach which:
Wilful Default of the Trustee means the fraud, negligence or wilful default of the Trustee and of its officers, employees, agents and any other person where the Trustee is liable for the acts or omissions of such other person under the terms of any Transaction Document;
Wilful Default means with respect to a party:
Wilful Default means, in respect of a Participant: