Default on Payment definition

Default on Payment means failure to pay a Debt or its instalment when due as stated in the Securing agreement.
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Default on Payment. If ISI's Customers, or any of them, fail to pay any fees when due and payable, the nonpaying ISI Customers shall be in default of this Agreement. At its option, RTC may, immediately in its sole discretion, suspend or terminate the Services to be delivered to the defaulting ISI Customers under this Agreement or any Services Confirmation Form, and said suspension or termination by RTC shall be deemed for cause. In addition, RTC shall be entitled to apply any monies it holds by way of deposit or prepayment by the Client in satisfaction or diminution of the outstanding payment.
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Default on Payment means failure to pay a Debt or its instalment when due stated in the Loan Agreement.
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More Definitions of Default on Payment

Default on Payment. If Client fails to pay any fees when due and payable, Client shall be in default of this Agreement. At its option, RTC may, immediately in its sole discretion, suspend or terminate the Services to be delivered by it under this Agreement or any Services Order Form, and said suspension or termination by RTC shall be deemed for cause. In addition, RTC shall be entitled to apply any monies it holds by way of deposit or prepayment by the Client in satisfaction or diminution of the outstanding payment.
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Related to Default on Payment

  • 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;’;

  • Default Fee means with respect to any amount due and payable by Seller in respect of any Aggregate Unpaids, an amount equal to the greater of (i) $1000 and (ii) interest on any such unpaid Aggregate Unpaids at a rate per annum equal to 2% above the Prime Rate.

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

  • Liquidity Event of Default means the occurrence of either (a) the Acceleration of all of the Equipment Notes or (b) an American Bankruptcy Event.

  • 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.