Default Declaration definition

Default Declaration means a declaration of default as defined in Section 8.5.
View Source
Default Declaration means a declaration made by LCI under paragraph 13(1); “defaulter” means a participant in respect of which LCI has made a default declaration;
View Source
Default Declaration. ’ means a declaration made by the Council under paragraph 15(1);
View Source

Examples of Default Declaration in a sentence

  • The Reclamation Investment Committee will act promptly to develop and provide to the Opt-in Participants appropriate Make-up Funding Curves for the Make-up Reclamation Trust Funds, as provided for in Section 6.4. Upon receipt of a Make-up Funding Curve from the Reclamation Investment Committee, each Opt-in Participant will promptly fund its Make-up Reclamation Trust Fund to its share of the Make-up Funding Curve target amount for the calendar year in which the Default Declaration was issued.

  • The Reclamation Trust Funds Operating Agent will serve a copy of the Notification of Intent and of the Default Declaration on: (i) the representatives on the Reclamation Oversight Committee; (ii) all persons entitled to receive notices under Section 28.1; and (iii) the Trustee of the defaulting Party’s Reclamation Trust.

  • The pendency of a Protest will not prevent the Decommissioning Agent from making a Default Declaration.

  • Interest Due Upon Default; Holders of Specified Percentage of Notes May Waive Default Declaration .

  • The pendency of a Protest will not prevent the Reclamation Trust Funds Operating Agent from making a Default Declaration.

  • Upon delivery of the Default Declaration, the Party in Default under this Decommissioning Agreement will lose all its rights but retain its obligations under this Decommissioning Agreement, the Mine Reclamation Agreement and the Restructuring Agreement so long as the Default is in effect.

  • If the Default Declaration arises from the defaulting‌ Party’s failure to pay costs hereunder other than Reclamation Costs, such as the costs of the Reclamation Work and Reclamation A&G Expenses, such costs will be borne by the non- defaulting Parties in proportion to their Reclamation Shares, subject to all legal rights of non- defaulting Parties to require repayment of such costs from the defaulting Party.

  • In the event a Default Declaration is made against a‌ Party on the basis of the Party’s failure to fund its Reclamation Trust (including making required Reclamation Recovery Deposits and Reclamation Correcting Deposits) in the manner provided for in this Mine Reclamation Agreement, the Reclamation Investment Committee will act promptly to provide the non-defaulting Parties with appropriate funding curves for their Make-up Reclamation Trust Funds (“Make-up Funding Curves”).

  • In the event of a Default Declaration, made‌ pursuant to Section 10.5, that a Party is in Default in regard to the funding of its Reclamation Trust, each of the non-defaulting Parties will fund a Make-up Reclamation Trust Fund within its Reclamation Trust in the manner provided for, and subject to the various requirements and limitations set out in, Sections 6.4, 9.2, 11 and 12.

  • If a Party fails, after December 31, 2017, to fund its‌ Reclamation Trust to the post-2017 Reclamation Funding Target Amount and such failure results in a Default Declaration, then each Opt-in Participant will fund a share of the defaulting Party’s shortfall in a Make-up Trust Fund within the non-defaulting Party’s Reclamation Trust Fund based upon the relation of the Reclamation Share of each such non-defaulting Opt-in Participant to the Reclamation Shares of all non-defaulting Opt-in Participants.


More Definitions of Default Declaration

Default Declaration means any notice from the Majority Banks to the Borrowers declaring that an Event of Default has occurred and is continuing (as contemplated in Section 9.08(b) hereof), which may be given by the Administrative Agent if so directed by the Majority Banks.
View Source

Related to Default Declaration

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • Default Date has the meaning set forth in Section 3.3(a).

  • 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.

  • 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. ▇▇▇▇▇▇ ▇▇▇: 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 “▇▇▇▇▇▇ 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.

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).