Default definition

Default means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default.

Default means any event which is, or after notice or passage of time or both would be, an Event of Default.

Default means any event or condition which constitutes an Event of Default or which upon notice, lapse of time or both would, unless cured or waived, become an Event of Default.

Examples of Default in a sentence

• No delay or omission to exercise any right or power accruing upon any Default shall impair any such right or power or shall be construed to be a waiver thereof, but any such right and power may be exercised from time to time and as often as may be deemed expedient.

• The aim is to draw in those members of a party’s group (such as its parent or asset rich fellow subsidiaries) whose rela- tionship is so close to the contracting party that if an Event of Default happened to them it would be very likely to affect the contracting party too.

• A Specified Entity is essentially another member or members in a party’s group whom you want to join through the Schedule into certain Events of Default and Termination Events.

• No Event of Default or Potential Event of Default or, to its knowledge, Termination Event with respect to it has occurred and is continuing and no such event or circumstance would occur as a result of its entering into or performing its obligations under this Agreement or any Credit Support Document to which it is a party.

• If there has been an Event of Default on the District’s part, Developer may exercise any and all remedies granted pursuant to this Facilities Lease; provided, however, there shall be no right under any circumstances to accelerate any of the payments required pursuant to the GMP provisions in Exhibit C or otherwise declare those payments not then past due to be immediately due and payable.

More Definitions of Default

Default means any event, act or condition which with notice or lapse of time, or both, would constitute an Event of Default.

Default means any event that is, or after notice or passage of time or both would be, an Event of Default.

Default means any event, act or condition that with notice or lapse of time, or both, would constitute an Event of Default.

Default means any condition or event which constitutes an Event of Default or which with the giving of notice or lapse of time or both would, unless cured or waived, become an Event of Default.

Default means any occurrence that is, or with notice or the lapse of time or both would become, an Event of Default.

Default means an event or condition the occurrence of which is, or with the lapse of time or the giving of notice or both would be, an Event of Default.

Default any of the events specified in Section 8, whether or not any requirement for the giving of notice, the lapse of time, or both, has been satisfied.