Nonpayment Default definition

Nonpayment Default shall have the meaning specified in Section 15.4(b).

Nonpayment Default. The term "Nonpayment Default" shall have the meaning specified in Section 15.4(b).

Nonpayment Default has the meaning set forth in Section 18.01(b)(ii).

Examples of Nonpayment Default in a sentence

• Payments on the Notes may and shall be resumed (i) in the case of a Payment Default, upon the date on which such default is cured or waived, or (ii) in the case of a Nonpayment Default, 179 days after the date on which the applicable Payment Blockage Notice is received, unless the maturity of any Senior Indebtedness has been accelerated.

• No default, other than a Nonpayment Default, that existed or was continuing on the date of delivery of any Payment Blockage Notice to the Trustee shall be, or be made, the basis for a subsequent Payment Blockage Notice unless such default shall have been cured or waived for a period of not less than 180 days.

• No Non-payment Default with respect to Designated Senior Indebtedness that existed or was continuing on the date of the commencement of any Payment Blockage Period shall be, or can be, made the basis for the commencement of a second Payment Blockage Period, whether or not within a period of 360 consecutive days, unless such default has been cured or waived for a period of not less than 90 consecutive days.

• No Nonpayment Default that existed or was continuing on the date of delivery of any Payment Blockage Notice shall be the basis for a subsequent Payment Blockage notice.

• No new period of payment blockage may be commenced in respect of a Nonpayment Default unless and until 180 days have elapsed since the effectiveness of the immediately prior Payment Blockage Notice.

More Definitions of Nonpayment Default

Nonpayment Default shall have the meaning as defined under Section 6.02(b).

Nonpayment Default shall have the meaning assigned to such term in Section 8.03.

Nonpayment Default means any event of default under the terms of any instrument governing any Senior Indebtedness permitting one or more holders of such Senior Indebtedness (or a Representative on behalf of the holders thereof) to declare all or part of such Senior Indebtedness due and payable prior to the date on which it would otherwise become due and payable.

Nonpayment Default shall have the meaning specified in Section 11.02(A)(ii).

Nonpayment Default means any event (other than a Payment Default) the occurrence of which entitles one or more Persons to accelerate at such time the maturity of any Designated Senior Indebtedness.

Nonpayment Default has the meaning specified in Section 10.03(a)(2).

Nonpayment Default has the meaning specified in Section 1303(2).