DEFAULT IN PERFORMANCE definition

DEFAULT IN PERFORMANCE. The Note Trustee may certify in the circumstances stated in Note Condition 14 whether or not a default by the Issuer in the performance or observance of any of its obligations pursuant to that Condition is in its opinion materially prejudicial to the interests of the Noteholders and any such certificate shall be conclusive and binding upon the Issuer and the Noteholders.
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Examples of DEFAULT IN PERFORMANCE in a sentence

  • What happens if a state declares a reservation to a particular article of a treaty that it has ratified?7.

  • EEEE1.18 DEFAULT IN PERFORMANCE (a) The provisions of this RuleEEEE1.18 shall be subject to the default rules from time to time in force of the Clearing House.

  • EEEE.18 DEFAULT IN PERFORMANCE (a) The provisions of this Rule EEEE.18 shall be subject to the default rules from time to time in force of the Clearing House.

  • EEEE.18 DEFAULT IN PERFORMANCE (a) The provisions of this Rule EEEE.18 shall be subject to the default rules from time to time in force of the Clearing House.(b) For the purposes of this Rule EEEE.18, a reference to a “Default in Performance” shall, subject to Rule EEEE.18(d), be construed as including an actual failure by a Seller or a Buyer under Rule EEEE.18(c) in performing its obligations under a Contract, or an anticipated failure.

  • NOT BY WAY OF LIMITATION TO THE FOREGOING, NEITHER PARTY WILL BE LIABLE TO THE OTHER PARTY FOR DIRECT DAMAGES RESULTING FROM ANY DEFAULT IN PERFORMANCE OF THIS AGREEMENT IN AN AMOUNT GREATER THAN THE FEE FOR SERVICES PAYABLE BY CUSTOMER FOR THE 12-MONTH PERIOD PRECEDING THE DATE SUCH DAMAGES OCCURRED.

  • NEITHER PARTY SHALL BE LIABLE TO THE OTHER IN ANY AMOUNT FOR SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR INDIRECT DAMAGES, LOSS OF GOODWILL OR BUSINESS PROFITS, WORK STOPPAGE, DATA LOSS, COMPUTER FAILURE OR MALFUNCTION, OR EXEMPLARY OR PUNITIVE DAMAGES RESULTING FROM ANY DEFAULT IN PERFORMANCE OF THIS AGREEMENT.

  • DEFAULT IN PERFORMANCE (i) Goods If the goods or any part of them are not delivered by the time or times specified in the contract then we may by written notice cancel any undelivered balance of the goods.

  • EEEE1.18 DEFAULT IN PERFORMANCE (a) The provisions of this RuleEEEE1.18 shall be subject to the default rules from time to time in force of the Clearing House.(b) For the purposes of this RuleEEEE1.18, a reference to a “Default in Performance” shall, subject to Rule EEEE1.18(d), be construed as including an actual failure by a Seller or a Buyer under Rule EEEE1.18(c) in performing its obligations under a Contract, or an anticipated failure.

  • ANY BREACH OR DEFAULT IN PERFORMANCE OF ANY OBLIGATION ON TENANT'S PART TO BE PERFORMED UNDER THIS LEASE, WHETHER BEFORE OR DURING THE LEASE TERM OR AFTER ITS EXPIRATION OR EARLIER TERMINATION; [Note: As noted in the comments to Clause 1 above, this “default indemnity” could expose the tenant to significant liability for third-party actions against the landlord, potentially including the claims of the landlord’s foreclosing lender.

  • DEFAULT IN PERFORMANCE / GUARANTEES 4.1 The General Terms and Conditions, particularly Sections 11 and 12, apply in this regard.

Related to DEFAULT IN PERFORMANCE

  • Acceleration means, with respect to the amounts payable in respect of the Equipment Notes issued under any Indenture, such amounts becoming immediately due and payable by declaration or otherwise. “Accelerate”, “Accelerated” and “Accelerating” have meanings correlative to the foregoing.

  • Default Interest means interest chargeable in terms of this Agreement to unpaid amounts or outstanding obligations which interest shall be calculated, from the due date until date of payment, on a daily balance and compounded monthly in arrear at an annual rate of two percent (2%) above the prevailing, variable prime rate publicly quoted by ABSA Bank Limited from time to time.

  • default value means a value derived from a typical value by the application of pre-determined factors and that may, in circumstances specified in this Directive, be used in place of an actual value;’;

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

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

  • Nonpayment means, with respect to any Distribution Date, an Insured Amount is Due for Payment but has not been paid pursuant to the Agreement.

  • Guarantor Default means any condition or event that with the giving of notice or lapse of time or both would, unless cured or waived, become a Guarantor Event of Default.

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

  • Nonpayment of premium means the failure or inability of the named insured to discharge any obligation in connection with the payment of premiums on a policy of insurance subject to this section, whether such payments are payable directly to the insurer or its agent or indirectly payable under a premium finance plan or extension of credit;

  • Note Default Interest Spread means a rate per annum equal to three percent (3.0%); provided, however, that if the weighted average of the Senior Note Default Rate and the Note B Default Rate would exceed the maximum rate permitted by applicable law, the note default interest spread shall equal (i) the rate at which the weighted average of the Senior Note Default Rate and the Note B Default Rate equals the maximum rate permitted by applicable law minus (ii) the Mortgage Loan Rate.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Payment Default has the meaning set forth in Section 5.4(a) of the Indenture.

  • passage means any public or private road, street or highway, including footpaths and bicycle paths, or other route provided for the passage of people, animals, vehicles or machinery.

  • Bankruptcy Default has the meaning assigned to such term in Section 6.01.

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

  • Default Horizon Ratio means, as of any Cut-Off Date, the ratio (expressed as a decimal) computed by dividing (i) the aggregate amount of Receivables originated by the Originators during the four Calculation Periods ending on such Cut-Off Date, by (ii) the Net Pool Balance as of such Cut-off Date.

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

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

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

  • Default Interest Rate is two percent above the base lending rate of Barclays Bank PLC, as varied from time to time;

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