DEFAULT IN PERFORMANCE definition

DEFAULT IN PERFORMANCE. The Note Trustee may certify in the circumstances stated in Note Condition 14 whether or not a default by the Issuer in the performance or observance of any of its obligations pursuant to that Condition is in its opinion materially prejudicial to the interests of the Noteholders and any such certificate shall be conclusive and binding upon the Issuer and the Noteholders.
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Examples of DEFAULT IN PERFORMANCE in a sentence

  • IF THE TRANSACTION CONTEMPLATED BY THIS AGREEMENT SHALL FAIL TO CLOSE BY THE SCHEDULED CLOSING DATE AS A RESULT OF BUYER'S DEFAULT IN PERFORMANCE OF ITS OBLIGATIONS UNDER THIS AGREEMENT, THE DOWNPAYMENT SHALL BE RETAINED BY SELLER AS LIQUIDATED DAMAGES AND AS SELLER'S EXCLUSIVE REMEDY AGAINST BUYER, AT LAW OR IN EQUITY OR OTHERWISE.

  • IF AT ANY TIME DURING THE TERM OF THIS LEASE, TENANT SHALL BE IN DEFAULT IN PERFORMANCE OF ANY PROVISION OF THE LEASE, AND SHALL FAIL TO REMEDY OR CURE SAID DEFAULT AFTER HAVING RECEIVED TEN (10) DAYS WRITTEN NOTICE OF SAME, THEN LANDLORD MAY, AT ITS OPTION, APPLY MONIES HELD AS PARTIAL OR FULL SATISFACTION OF SAID DEFAULT OR DECLARE SAID SECURITY DEPOSIT TO BE FORFEITED.

  • NOT BY WAY OF LIMITATION TO THE FOREGOING, NEITHER PARTY WILL BE LIABLE TO THE OTHER PARTY FOR DIRECT DAMAGES RESULTING FROM ANY DEFAULT IN PERFORMANCE OF THIS AGREEMENT IN AN AMOUNT GREATER THAN THE FEE FOR SERVICES PAYABLE BY CUSTOMER FOR THE 12-MONTH PERIOD PRECEDING THE DATE SUCH DAMAGES OCCURRED.

  • EXCEPT AS SET FORTH ON SCHEDULE 5.9 (TO BE DELIVERED TO BUYER IMMEDIATELY FOLLOWING SATISFACTION (OR WAIVER) OF THE FINANCING CONDITION IN SECTION 8.6), NEITHER SELLER NOR, TO THE BEST OF SELLER'S KNOWLEDGE, ANY OTHER PARTY TO THE CUSTOMER CONTRACTS OR SATELLITE CONTRACTS IS IN DEFAULT IN PERFORMANCE OF OR NOT IN COMPLIANCE WITH ANY MATERIAL PROVISIONS OF SUCH CUSTOMER CONTRACTS OR THE SATELLITE CONTRACTS.

  • NEITHER PARTY SHALL BE LIABLE TO THE OTHER IN ANY AMOUNT FOR SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR INDIRECT DAMAGES, LOSS OF GOODWILL OR BUSINESS PROFITS, WORK STOPPAGE, DATA LOSS, COMPUTER FAILURE OR MALFUNCTION, OR EXEMPLARY OR PUNITIVE DAMAGES RESULTING FROM ANY DEFAULT IN PERFORMANCE OF THIS AGREEMENT.

  • NEITHER PARTY WIL BE LIABLE TO THE OTHER PARTY FOR DIRECT DAMAGES RESULTING FROM ANY DEFAULT IN PERFORMANCE OF THIS CONTRACT IN AN AMOUNT GREATER THAN THE SERVICE FEE PAID FOR ONE 12-MONTH PERIOD.

Related to DEFAULT IN PERFORMANCE

  • Acceleration as defined in Subsection 9.1(e).

  • Default Interest means interest chargeable in terms of this Agreement to unpaid amounts or outstanding obligations which interest shall be calculated, from the due date until date of payment, on a daily balance and compounded monthly in arrear at an annual rate of two percent (2%) above the prevailing, variable prime rate publicly quoted by ABSA Bank Limited from time to time.

  • default value means a value derived from a typical value by the application of pre-determined factors and that may, in circumstances specified in this Directive, be used in place of an actual value;’;

  • Bankruptcy or Default means the total cessation of operations due to insolvency, with or without the filing of a bankruptcy petition by an airline, or cruise line, tour operator or other travel provider provided the Bankruptcy or Default occurs more than 14 days following Your Effective Date for the Trip Cancellation Benefits. There is no coverage for the Bankruptcy or Default of any person, organization, agency or firm from whom You purchased Travel Arrangements supplied by others.

  • 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.