Default Option definition

Default Option means the option of each County set forth in Section 21(h) of this Agreement.

Default Option means an option designated by you on the Set-Up Form for paying or returning Suspect Checks, in the absence of a timely Pay Request or Return Request. The Default Option may be either the “Return Default Option” or the “Pay Default Option.”

Default Option means the option of Lessor to purchase the Residential Unit for a purchase price equal to the Maximum Resale Price as a Default Remedy as further described in Section 11.2(a)(1).

Examples of Default Option in a sentence

• If no selection is made, funds are invested in the Default Option provided.

• If the Agreement is terminated by either County, within ninety (90) days of receiving actual notice of the termination by any other County, any other County may, in its sole discretion also terminate this Agreement due to the Default and/or exercise all other remedies available to it under this Agreement, at law or in equity, including but not limited to the Default Option set forth in Section 21(h).

• In the event Company commits such a Default, and does not cure such Default within thirty (30) days after a Default notice is delivered to the Company, then each County shall be entitled to exercise its rights to terminate this Agreement due to the Default and/or exercise all other remedies available to it under this Agreement, at law or in equity, including but not limited to the Default Option set forth in Section 21(h).

• Should the Company have reason to believe that the invention, process, technique, article, or appliance so specified is an infringement of a patent, and fail to inform the Counties, the Counties may immediately terminate the Company’s rights under this Agreement and the Counties may exercise the Default Option.

• In the event the Company commits such a Default (for which there is no other specific remedy provision herein), and does not cure such Default within thirty (30) days after a Default notice is delivered to the Company, then each County shall be entitled to exercise its rights to terminate this Agreement due to the Default and/or exercise all other remedies available to it under this Agreement, at law or in equity, including the Default Option set forth in Section 21(h).

More Definitions of Default Option

Default Option means any of the following:

Default Option means the option to either pay or return Exception Checks selected by Company in the Application.

Default Option means an option selected by Customer on the Positive Pay Schedule instructing Bank to either pay or return all Exception Items in absence of timely instructions from Customer in accordance with Section 4(a) below.

Default Option means the Plan Option selected automatically for a policyholder who fails to make a valid election by the required date.

Default Option means the option described in Clause 4.6;

Default Option means (i) the right of CGP under Article 48(a) and (ii) the right of TVP and/or Centrino under Article 48(b);

Default Option means the form of retirement income that is deemed to have been made by a member in the event the member does not exercise the right to choose a form of retirement income within the period provided or permitted for such election;