Issuer Default definition

Issuer Default. Any occurrence which is, or with notice or the lapse of time or both would become, an Issuer Event of Default.
Sample 1Sample 2Sample 3
Issuer Default means any of the following events: (w) if an Act of Bankruptcy (as defined in a Related Indenture) shall have occurred; (x) if any provision of any Transaction Document applicable to any Issuer or the lien and security interest purported to be created by any Issuer under any Transaction Document shall at any time for any reason cease to be valid and binding in accordance with its terms on such Issuer or shall be declared to be null and void, or if any Issuer shall deny that it has any further liability or obligation thereunder; (y) if any Issuer shall have asserted that it has no liability or obligations under any Transaction Document to which it is a party or if any Governmental Authority having jurisdiction over any Issuer shall find or rule that any material provision of any Transaction Document to which such Issuer is a party is not valid and binding on such Issuer; or (z) if any Issuer shall otherwise fail to comply with the terms and conditions of any Transaction Document to which such Issuer is a party and such failure to comply results in Fannie Mae having the right to declare an Event of Default under this Agreement or any other Transaction Document.
Sample 1Sample 2
Issuer Default means that (i) (x) the Issuer, Units Issuer or any of Issuer’s other Subsidiaries fails to make any payment (whether of principal or interest and regardless of amount) in respect of any Indebtedness of such party in a principal amount in excess of the Issuer Default Threshold, when and as the same shall become due and payable, and (y) any event or condition occurs that results in any Indebtedness of the Issuer, Units Issuer or any of Issuer’s other Subsidiaries in a principal amount in excess of the Issuer Default Threshold becoming due prior to its scheduled maturity, or requiring the prepayment, repurchase, redemption or defeasance thereof prior to its scheduled maturity; provided that this clause (i) shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness; or (ii) there occurs under any Swap Contract to which the Issuer, Units Issuer or any of Issuer’s other Subsidiaries is a party an early termination date (howsoever defined in such Swap Contract) resulting from any event of default (howsoever defined in such Swap Contract) under such Swap Contract as to which the Issuer, Units Issuer or any of Issuer’s other Subsidiaries is the defaulting party (howsoever defined in such Swap Contract) or any termination event (howsoever defined in such Swap Contract) under such Swap Contract as to which the Issuer, Units Issuer or any of Issuer’s other Subsidiaries is an affected party (however defined in such Swap Contract) and in either event the Swap Termination Value owed by the Issuer, Units Issuer or any of Issuer’s other Subsidiaries as a result thereof is greater than the Issuer Default Threshold;
Sample 1

Examples of Issuer Default in a sentence

  • Unless otherwise specified, ratings or assessments are in respect of Senior Debt (or the Long-Term Issuer Default Rating in the case of Fitch) and Short-Term Debt (or the Short-Term Issuer Default Rating in the case of Fitch).

  • Where this Indenture provides for notice to the Rating Agencies that have assigned a rating to any Class of a Series, failure to give such notice shall not affect any other rights or obligations created hereunder, and shall not under any circumstance constitute an Issuer Default with respect to such Series.

  • Credit RatingsStandard & Poors Corporate Credit Rating: BBB(Positive Outlook)Preferred Stock: BB+ Moody's Issuer Rating: Baa2(Stable Outlook)Preferred Stock: Baa3 Fitch Issuer Default Rating: BBB(Stable Outlook)Preferred Stock: BB+ These credit ratings may not reflect the potential impact of risks relating to the structure or trading of the company’s securities and are provided solely for informational purposes.

  • Credit RatingsStandard & Poors Corporate Credit Rating: BBB(Stable Outlook)Preferred Stock: BB+ Moody's Issuer Rating: Baa2(Stable Outlook)Preferred Stock: Baa3 Fitch Issuer Default Rating: BBB(Stable Outlook)Preferred Stock: BB+ These credit ratings may not reflect the potential impact of risks relating to the structure or trading of the company’s securities and are provided solely for informational purposes.

  • Credit Ratings Standard & Poors Corporate Credit Rating: BBB(Positive Outlook)Preferred Stock: BB+ Moody's Issuer Rating: Baa2(Stable Outlook)Preferred Stock: Baa3 Fitch Issuer Default Rating: BBB(Stable Outlook)Preferred Stock: BB+ These credit ratings may not reflect the potential impact of risks relating to the structure or trading of the company’s securities and are provided solely for informational purposes.

  • Upon receiving such notice of resignation, the Servicer with the consent of the Surety Bond Issuer (unless a Surety Bond Issuer Default shall have occurred and be continuing) shall promptly appoint a successor Trustee and Collateral Agent by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and Collateral Agent and one copy to the successor Trustee and Collateral Agent.

  • No Supplemental Participation Agreement or amendments to the Participation Agreement affecting the rights or obligations of the Support Facility Issuer which take effect while any Support Facility is in effect may, so long as no Support Facility Issuer Default has occurred and is continuing, be entered into by the Authority and the Company or be consented to by the Holders without written consent of each Support Facility Issuer.

  • Long-term credit ratings are used as a benchmark measure of probability of default and are formally described as an Issuer Default Rating.

  • So long as no Surety Bond Issuer Default shall have occurred and be continuing, the Surety Bond Issuer may, on behalf of all the Holders of Certificates, waive any default by the Servicer in the performance of its obligations hereunder and its consequences, except a default in making any required deposits to or payments from the Certificate Account in accordance with the Agreement.

  • In the event of any such reorganization, arrangement, adjustment, composition or liquidation, the Credit Facility Issuer shall have the right to vote on behalf of all Holders who hold such Bonds unless a Support Facility Issuer Default has occurred and is continuing.


More Definitions of Issuer Default

Issuer Default shall have the meaning given that term in section 7.2(c).
Sample 1
Issuer Default means, in the case of Rated Notes only, that all transactions under the Swap Agreement are terminated by reason of the occurrence of an event described in Section 5(a) or 5(b) of the ISDA Master Agreement in respect of the Issuer in respect of which the Issuer is the Defaulting Party or sole Affected Party (as such terms are defined in the Swap Agreement).
Sample 1
Issuer Default means any of the following events:
Sample 1

Related to Issuer Default

  • Issuer Event of Default means the occurrence of any of the following events:

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Servicer Event of Default wherever used herein, means any one of the following events:

  • 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.

  • Owner Event of Default has the meaning specified in Section 16.2.

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

  • Master Servicer Event of Default wherever used herein, means any one of the following events:

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Bond Event of Default means the occurrence of any of the following (or such event or condition which with notice or lapse of time or both would constitute any of the following):

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

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Unmatured Event of Default means any event which, with the giving of notice, the passage of time or both, would constitute an Event of Default.

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • O & M Default means any default on the part of the Power Producer for a continuous period of ninety (90) days to (i) operate and/or (ii) maintain (in accordance with Prudent Utility Practices), the Project at all times.

  • Event of Default wherever used herein, means any one of the following events (whatever the reason for such 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):

  • Servicer Default means an event specified in Section 8.01.

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

  • 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.

  • Lender Default means (a) the refusal or failure (which has not been cured) of a Lender to make available its portion of any Borrowing or to fund its portion of any Unpaid Drawing under Section 3.4 that it is required to make hereunder, (b) a Lender having notified the Administrative Agent and/or the Borrower that it does not intend to comply with its funding obligations under this Agreement or has made a public statement to that effect with respect to its funding obligations under this Agreement, (c) a Lender has failed to confirm (within one Business Day after a request for such confirmation is received by such Lender) in a manner reasonably satisfactory to the Administrative Agent, the Borrower and, in the case of a Revolving Credit Lender, each Revolving Letter of Credit Issuer that it will comply with its funding obligations under this Agreement, (d) a Lender being deemed insolvent or becoming the subject of a bankruptcy or insolvency proceeding or has admitted in writing that it is insolvent; provided that a Lender Default shall not be deemed to have occurred solely by virtue of the ownership or acquisition of any Stock in the applicable Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide the applicable Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit the applicable Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with the applicable Lender, or (e) a Lender that has, or has a direct or indirect parent company that has, become the subject of a Bail-In Action.

  • Indenture Event of Default means an "Event of Default" as defined in the Indenture.

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • Event of Default Under the Trust Indenture With respect to any MBS, any “Event of Default” under the Trust Indenture pursuant to which such MBS was issued. Xxxxxx Xxx: Federal National Mortgage Association, a body corporate organized and existing under the laws of the United States, or its successor in interest or any successor appointed as herein provided. Unless the context requires otherwise, the term “Xxxxxx Mae” shall be deemed to refer to the Federal National Mortgage Association acting in its corporate capacity and not in its capacity as Trustee hereunder.

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

  • Material Event of Default means any Event of Default arising under Section 10.01(a), 10.01(b) (solely with respect to a default related to Section 8.01, 8.20 or 9.13), 10.01(f), 10.01(i), 10.01(j), 10.01(n) or 10.01(o).