Default definition

Default means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default.

Default means any event which is, or after notice or passage of time or both would be, an Event of Default.

Default means any event or condition which constitutes an Event of Default or which upon notice, lapse of time or both would, unless cured or waived, become an Event of Default.

Examples of Default in a sentence

• If the Recipient fails to cure any such Event of Default to the reasonable satisfaction of WEDC within Thirty (30) calendar days, WEDC may extend the cure period if WEDC determines, in its sole discretion, that the Recipient has begun to cure the Event of Default and diligently pursues such cure, or, without further written notice to the Recipient, declare the Recipient in default.

• The Breaching Party shall reimburse the Non-breaching party for the cost thereof upon demand, together with interest accruing thereon at an annual rate of interest equal to the lesser of: (i) four percent (4%) above the prime rate of interest announced by SunTrust Bank, Central Florida, N.A.; or (ii) the highest rate of interest allowable by law (the "Default Rate"), from and after the date of the Non-breaching party's expenditure thereof, until the Non-breaching party's receipt of full payment therefor.

• The defaulting Party must immediately – not exceeding three (3) Banking Days from the day it becomes aware of it – give notice of the Event of Default to the other Party in writing, specifying the underlying reasons and detailing whether it believes the Event of Default can be cured.

• An Event of Default includes: the failure of either Party to observe or perform its obligations hereunder and the breach or default of this Agreement by either Party.

• At any time a Party may waive any right, including with respect to any default, Potential Event of Default or Event of Default, under or arising out of or in connection with this Agreement without the requirement of a writing signed by an authorized representative of the waiving Party.

More Definitions of Default

Default means any event, act or condition which with notice or lapse of time, or both, would constitute an Event of Default.

Default means any event, act or condition that with notice or lapse of time, or both, would constitute an Event of Default.

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

Default means an event or condition the occurrence or existence of which would, with the lapse of time or the giving of notice or both, become an Event of Default.

Default any of the events specified in Section 8, whether or not any requirement for the giving of notice, the lapse of time, or both, has been satisfied.

Default means any event or condition that upon notice, lapse of time or both would constitute an Event of Default.

Default means any Event of Default or any event that would constitute an Event of Default but for the requirement that notice be given or time elapse or both.