Wrongful Dishonor definition

Wrongful Dishonor means an uncured default by the Liquidity Provider of its obligations to honor a drawing as required pursuant to the terms of the applicable Liquidity Facility.

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Wrongful Dishonor means the failure of the Credit Facility Provider to honor a draw made in accordance with the terms of the Credit Facility (which draw strictly complies with, and conforms to, the terms and conditions of the Credit Facility).

Wrongful Dishonor means (i) an uncured and willful default by the Credit Issuer, or (ii) an uncured default resulting from the gross negligence of the Credit Issuer, in each case, of its obligations to honor a drawing as required pursuant to the terms of the Credit Facility and the Credit Agreement.

Examples of Wrongful Dishonor in a sentence

Prior to the Conversion Date and so long as no Construction Wrongful Dishonor is in existence, any provision of this Agreement (i) requiring the consent of Freddie Mac shall also require the consent of the Construction Phase Credit Facility Provider and (ii) permitting Freddie Mac to provide direction to the Trustee shall require the consent of the Construction Phase Credit Facility Provider.
Except during the Fixed Rate Period, the Borrower, pursuant to Section 5.4 of the Financing Agreement, is permitted with the prior written consent of ▇▇▇▇▇▇▇ Mac and with the prior written consent of the Bank (prior to the Conversion Date) and the Credit Facility Provider (provided there has been no Wrongful Dishonor (as such term is defined in the Financing Agreement)) to provide an Alternate Credit Facility to replace the then outstanding Credit Facility at the times specified in the Financing Agreement.
During any Construction Wrongful Dishonor, the application of Insurance/Condemnation Proceeds shall be solely as directed by the Freddie Mac.
During any Construction Default Event or Construction Wrongful Dishonor, as applicable, the application of Insurance/Condemnation Proceeds shall be solely as directed by Freddie Mac.
The Series 2014A Certificates shall be subject to mandatory tender for purchase upon the occurrence of a Wrongful Dishonor or the Letter of Credit has been repudiated by the Bank, which mandatory tender shall occur no later than fifteen days after the date of such Wrongful Dishonor or repudiation.

More Definitions of Wrongful Dishonor

Wrongful Dishonor means (i) an uncured and willful default by the Credit Facility Provider, or (ii) an uncured default resulting from the gross negligence of the Credit Facility Provider, in each case, of its obligations to honor (a) as to the Initial Credit Facility Provider, a request for payment made in accordance with the terms of the Initial Credit Facility or (b) as to any other Credit Facility Provider, a drawing as required pursuant to the terms of the Alternate Security.

Wrongful Dishonor means the failure of Freddie Mac to honor a draw made in accordance with the terms of the Credit Enhancement Agreement (which draw strictly complies with, and conforms to, the terms and conditions of the Credit Enhancement Agreement).

Wrongful Dishonor. If we mistakenly dishonor an item, we will be liable only for damages proximately caused by the wrongful dishonor of the item. TRANSFERS: Funds will be automatically transferred from your savings account to cover overdrafts, unless you requested otherwise, if funds are available and you are within the 6 allowed monthly per transfer limitation; otherwise, the checks may be returned for non- sufficient funds.

Wrongful Dishonor means a failure by the Bank to honor any drawing made and presented pursuant to and in strict compliance with the Letter of Credit. The pledge of Mortgage Note A and the Leasehold Note and the pledge of the

Wrongful Dishonor means an uncured default by the Credit Issuer of its obligations to honor a drawing as required pursuant to the terms of the Credit Facility and the Credit Agreement.

Wrongful Dishonor means an uncured failure by the Credit Provider to pay a Draw or make an Advance, as applicable, to the Trustee upon proper presentation of documents which conform to the terms and conditions of the Credit Facility then in effect.