Nondefaulting Party

Example Definitions of "Nondefaulting Party"
Nondefaulting Party. 8.1
Nondefaulting Party. Means, when a Default has occurred with respect to (i) a Rescap Obligor, GMAC IM, and (ii) GMAC IM, the applicable Rescap Party that is party to the Underlying Master Agreement with respect to which the Default has occurred.
Nondefaulting Party. Means a party to this Agreement that is not in default in any material respect with regard to any of its representations, warranties, covenants, or other obligations under this Agreement.
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