Default and Remedies. Either of the following constitutes cause to declare this Contract, or any Participating Entity order under this Contract, in default:
Default and Remedies. SECTION 6.01.
Default and Remedies. 1. If any of the events listed in subparagraph 2. of this section occur, all obligations on the part of Florida Housing to continue doing business with Grantee or assign any future transaction to Grantee shall, if Florida Housing so elects, terminate and Florida Housing may, at its option, exercise any of its remedies set forth herein, or as otherwise provided by law. However, Florida Housing may continue doing business with the Grantee as a participant after the happening of any event listed in subparagraph 2. of this section without waiving the right to exercise such remedies, without constituting a course of dealing, and without becoming liable to include the Grantee in the transaction or any future transaction.
Default and Remedies. If: (a) the Lessee fails to comply with any term, provision, condition, or covenant of this Agreement; (b) the Lessee deserts or vacates the Premises; (c) any petition is filed by or against the Lessee under any section or chapter of the Federal Bankruptcy Act, as amended, or under any similar law or statute of the United States or any state thereof; (d) the Lessee becomes insolvent or makes a transfer in fraud of creditors; (e) the Lessee makes an assignment for the benefit of creditors; or (f) a receiver is appointed for the Lessee or any of the assets of the Lessee, then in any of such events, the Lessee shall be in default and the Lessor shall have the option to do any one or more of the following: (i) enter the Premises either with or without process of law and to expel, remove and put out the Lessee or any other persons thereon, together with all personal property; (ii) terminate this Agreement; (iii) rent said Premises or any part thereof for such term or terms and at such terms and conditions as the Lessor in its sole discretion may deem advisable, with the right to repair, renovate, remodel, redecorate, alter, and change said Premises. At the option of the Lessor, rents received by the Lessor from such reletting shall be applied in order as follows: to the payment of any indebtedness from the Lessee to the Lessor other than Rent due; to the payment of any costs and expenses of such reletting, including, but not limited to, attorney's fees, advertising fees, and brokerage fees, and to the payment of any repairs, renovation, remodeling, redecorations, alterations, and changes in the Premises; to the payment of Rent and additional Rent due and payable hereunder and interest thereon; and, if after applying said rentals there is any deficiency in the Rent and additional rent and interest to be paid by the Lessee under this Agreement, the Lessee shall pay any such deficiency to the Lessor and such deficiency shall be calculated and collected by the Lessor on a monthly basis. No such re-entry or taking possession of said Premises shall be construed as an election on the Lessor's part to terminate this Agreement unless a written notice of such intention is given to the Lessee. Notwithstanding any such reletting without termination, the Lessor may at any time terminate this Agreement by reason of any default, in addition to any other remedy it may have.
Default and Remedies. (a) If an Event of Default described in Section 2.2(c)(i) and (ii) occurs, then in each such case the Secured Party may declare the Obligations to be due and payable immediately, by a notice in writing to the Company, and upon any such declaration, the Obligations shall become immediately due and payable. If an Event of Default described in Sections 2.2(c)(iii) or (iv) occurs and is continuing for the period set forth therein, then the Obligations shall automatically become immediately due and payable without declaration or other act on the part of the Secured Party.
Default and Remedies. (a) If an Event of Default occurs, then in each such case the Secured Party may declare the Obligations to be due and payable immediately, by a notice in writing to the Company, and upon any such declaration, the Obligations shall become immediately due and payable.
Default and Remedies. (a) Debtor shall be in default under this Agreement and each of the other Debt Documents if:
Default and Remedies. If any of the following events of default occurs, the Bank may do one or more of the following: declare the Borrower in default, stop making any additional credit available to the Borrower, and require the Borrower to repay its entire debt immediately and without prior notice. If an event which, with notice or the passage of time, will constitute an event of default has occurred and is continuing, the Bank has no obligation to make advances or extend additional credit under this Agreement. In addition, if any event of default occurs, the Bank shall have all rights, powers and remedies available under any instruments and agreements required by or executed in connection with this Agreement, as well as all rights and remedies available at law or in equity. If an event of default occurs under the paragraph entitled “Bankruptcy,” below, with respect to the Borrower, then the entire debt outstanding under this Agreement will automatically be due immediately.
Default and Remedies. Licensor and Licensee hereby agree that time is of the essence with respect to the payment by Licensee of the License Fee and any other monetary obligation of Licensee under this Agreement and the performance by Licensee of the terms, covenants and conditions of this Agreement. If Licensee fails to pay the License Fee or other monetary obligation under this Agreement when due or otherwise defaults in the performance of any of the terms, covenants and conditions of this Agreement, Licensor may, at its option and in addition to all other remedies available under applicable law, terminate this Agreement. In the event of such a default, all payments previously made by Licensee under this Agreement will remain the property of Licensor. Termination of Licensee's right to use the Equipment Area under this Agreement will not affect Licensee's obligation to make all License Fee payments coming due after the date of termination. Upon termination of Licensee's right to use the Equipment Area under this Agreement, Licensor will have the right, but no obligation, to relicense the Equipment Area to another party. In the event the Equipment Area is licensed by Licensor to another party, any License Fee received from the other party applicable to the remainder of the Term will be applied first to any costs and expenses incurred in attempting to enforce this Agreement or in relicensing the Equipment Area, including costs of court and attorneys' fees with respect thereto, and then to the satisfaction of Licensee's obligations under this Agreement. The remedies provided in this paragraph are cumulative and not to the exclusion of any other rights or remedies that may be available to Licensor, at law or in equity. No waiver of any default or breach by Licensee hereunder shall be construed to be a waiver or release of any other default or breach of this Agreement at a later time. No failure or delay by Licensor in the exercise of any remedy provided for in this paragraph shall be construed as a forfeiture or waiver of the same or any other remedy at a later time.
Default and Remedies. (a) If you don’t make any payment within three days after the due date shown on our invoice, you breach any other obligation under this Agreement or under any other agreement with Pitney Xxxxx and such breach continues for thirty days after we give you notice or you become insolvent or file for bankruptcy, you will be in default and we may:
