Default Termination Payment definition

Default Termination Payment has the meaning given in Section 2.1(b) of this Schedule B.

Default Termination Payment means the amount (expressed in pounds (£)) calculated in accordance with the formula set out in paragraph 1.1 of Annex 3 (Calculation of Default Termination Payment);

Default Termination Payment has the meaning set forth in Section 14.2.

Examples of Default Termination Payment in a sentence

• If the Agreement is terminated due to Concessionaire Event of Default, Termination Payment equal to three (3) months of Concession Fee payable to CTU shall be received by CTU and Performance Security (Bank Guarantee) shall be forfeited.

• Hospital shall be entitled to set off against the Non-Default Termination Sum or the Default Termination Payment such amounts not already taken into account in calculating the relevant Compensation Payment that Hospital is entitled to set off or withhold pursuant to the Project Agreement or the Construction Contract provided that the Non-Default Termination Sum shall never be less than the Debt Amount.

• If any Post Termination Quarterly Amount is less than zero then it will be carried forward and will be set off against any future positive Post Termination Quarterly Amount or other elements of the Default Termination Payment.

• Hospital shall be entitled to set off against the Non-Default Termination Sum or the Default Termination Payment such amounts not already taken into account in calculating the relevant Compensation Payment that Hospital is entitled to set off or withhold pursuant to the Project Agreement or the Construction Contract provided that the Non-Default Termination Sum shall never be less than [REDACTED].

• Hospital shall pay the Default Termination Payment or Non-Default Termination Sum, as applicable, as directed by Project Co and shall not accept any re-direction without the written consent of the Lender.

More Definitions of Default Termination Payment

Default Termination Payment means the Termination Payment for a Termination for a Default Termination Event in accordance with the Termination Payments Schedule. Defect means:

Default Termination Payment means the applicable amount set forth in Exhibit 1 for the applicable date of early termination of this Agreement plus any unpaid balance of any Deferred Collection Amount.

Default Termination Payment has the meaning given to that term in clause 5.3(a) (Consequences of Default termination);

Default Termination Payment means the amount (expressed in pounds) calculated in accordance with the formula set out in paragraph 1.1 of Annex 3 (Calculation of Default Termination Payment);

Default Termination Payment means the payment calculated in accordance with Section 1 of the Termination Payment Schedule. Defect has the meaning given in the D&C Agreement.

Default Termination Payment has the meaning given to that term in item 3.5 (Consequences of Producer Default Termination).

Default Termination Payment has the meaning given to that term in schedule 5 (Calculation of Termination Amounts);