Default of the Counterparty definition

Default of the Counterparty means a default of the Counterparty under the Interest Rate Swap Agreement which results in a Mandatory Redemption;
View Source
Default of the Counterparty means a default of the Swap Counterparty under the Swap Agreement 1 or the Swap Agreement 2, in each case which results in a termination of the relevant Swap Agreement.
View Source
Default of the Counterparty means a default of the Counterparty under the Interest Rate Swap Agreement which results in a Compartment Liquidity Event;
View Source

Related to Default of the Counterparty

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

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

  • PTC Event of Default Means any failure to pay within 10 Business Days of the due date thereof: (i) the outstanding Pool Balance on the Final Legal Distribution Date or (ii) interest due on the Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or Drawings (as defined in the Intercreditor Agreement), or a withdrawal or withdrawals pursuant to Section 3.6(f) of the Intercreditor Agreement, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee).

  • 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.

  • Servicer Event of Default One or more of the events described in Section 7.01.