Default in Payment definition

Default in Payment means an Event of Default described in paragraph (a) or (b) of Section 7.01 hereof.
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Default in Payment means an Event of Default described in paragraph (a) or (e) of Section 7.01 of the Indenture.
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Default in Payment means failure to pay at the due date.
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Examples of Default in Payment in a sentence

  • Provided however that upon the occurrence of Event of Default as stated in Section 5.1(a) (Default in Payment) the manner in which consequences are to be triggered in respect of the said Event of Default shall be subject to the SEBI Defaults Procedure Circular.

  • During the existence of a Default in Payment, interest shall accrue on fees due and owing from the date of the same until resolved, if resolution is allowed, at the default rate stated in the below.

  • Company to Pay to Trustee Whole Amount Due on Securities on Default in Payment of Interest or Principal.

  • Default in Payment The failure of an Employer to pay the contributions required hereunder at the times and in the manner herein specified shall constitute a violation of such Employer’s obligations hereunder.

  • Covenant of Company to Pay to Trustee Whole Amount Due on Securities on Default in Payment of Interest or Principal...............................................

  • Covenant of Company to Pay to Trustee Whole Amount Due on Subordinated Securities on Default in Payment of Interest or Principal................................................39 SECTION 6.03.

  • Amount Due on Securities on Default in Payment of Interest or Principal.

  • Amounts Secured Hereby on Any Default in Payment; Application of Monies by Beneficiary.

  • No Payment When Senior Indebtedness in Default in Payment...........................................

  • Each of the following shall constitute an Event of Default: (a) Default in Payment of Principal of Loans and Reimbursement Obligations.


More Definitions of Default in Payment

Default in Payment. In case of default by the LESSEE/BUYER in the payment of the rent, such as when the checks are dishonored, the LESSOR/SELLER, at its option may terminate this contract and eject the LESSEE/BUYER as hereinafter provided. However, the LESSE/BUYER is given seven (7) days grace period within which to settle the account from date rental payment is due. Granting an extension to the aforesaid grace period may not be deemed as a waiver of LESSOR/SELLER right to terminate this contract and eject the LESSE/BUYER but in the event the LESSOR/SELLER so opts to grant a written request for extension, a penalty equivalent to three (3%) percent per month of the rental due, with a fraction of a month considered as one month shall be charged and assessed for delayed payments.
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Default in Payment means a failure to pay a fine (or any relevant part or instalment thereof according to the terms upon which the same was incurred) which shall cause to be regarded in default the entire sum then outstanding in respect of the original fine not already paid on the date upon or before which such fine or relevant part or instalment was
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Related to Default in Payment

  • margin payment ’ means payment or de- posit of cash, a security, or other property, that is commonly known to the securities trade as original margin, initial margin, main- tenance margin, or variation margin, or as a mark-to-market payment, or that secures an obligation of a participant in a securities clearing agency;

  • Premium means any premium payable under the terms of the Notes.

  • 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.

  • Tax Event Repayment Date means the date set out in a notice from the Issuer to the Bondholders pursuant to Clause 10.4 (Early redemption option due to a tax event).

  • Bankruptcy Default has the meaning assigned to such term in Section 6.01.