Acceleration of Maturity; Waiver of Event of Default and Rescission of Acceleration Sample Clauses

Acceleration of Maturity; Waiver of Event of Default and Rescission of Acceleration. The Trustee may, by written notice to the Borrower, declare the principal of the Notes (if not then due and payable) to be due and payable immediately, and upon any such declaration the Notes thereon shall become and be immediately due and payable, anything in the Notes or in this Loan Agreement contained to the contrary notwithstanding. This provision, however, is subject to the condition that if, at any time after the Notes shall have been declared and become due and payable, all arrears, if any, upon the Notes and the expenses of the Trustee and the City shall be paid by the Borrower, and every other default in the observance or performance of any covenant, condition or agreement in the Notes or in this Loan Agreement contained shall be made good, or be secured, to the satisfaction of the Trustee, or provision deemed by the Trustee to be adequate shall be made therefor, then and in every such case the event of default by reason of which the Notes shall have been so declared and become due and payable shall be considered waived by the Trustee, and such declaration and its consequences shall be considered annulled and rescinded; but no such waiver, rescission or annulment shall extend to or affect any subsequent event of default or impair any right consequent thereon. Notwithstanding the foregoing, the Bondholder may waive any event of default. The City’s obligation as to any Pledged Tax Increment shall not be subject to acceleration.
Sample 1
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Related to Acceleration of Maturity; Waiver of Event of Default and Rescission of Acceleration

  • Events of Default and Termination 13.1 If:

  • Suspension; Acceleration of Maturity Section 5.01. The following are specified as additional events for suspension of the right of the Borrower to make withdrawals from the Loan Account for the purposes of Section 8.01(m) of the Loan Regulations:

  • Default and Consequences of Default 18.1 Interest on overdue invoices shall accrue daily from the date when payment becomes due, until the date of payment, at a rate of two and a half percent (2.5%) per calendar month (and at the Supplier’s sole discretion such interest shall compound monthly at such a rate) after as well as before any judgment.

  • Events of Default Defined The following shall each constitute an "Event of Default" hereunder:

  • Events of Default and Remedies Section 8.01

  • Suspension; Cancellation; Acceleration of Maturity Section 5.01. The following are specified as additional events for suspension of the right of the Borrower to make withdrawals from the Loan Account for the purposes of Section 8.01(m) of the Loan Regulations:

  • Effect of Event of Default If any Event of Default described in Section 13.1.4 shall occur in respect of the Company, the Commitments shall immediately terminate and the Loans and all other Obligations hereunder shall become immediately due and payable and the Company shall become immediately obligated to Cash Collateralize all Letters of Credit, all without presentment, demand, protest or notice of any kind; and, if any other Event of Default shall occur and be continuing, the Administrative Agent may (and, upon the written request of the Required Lenders shall) declare the Commitments to be terminated in whole or in part and/or declare all or any part of the Loans and all other Obligations hereunder to be due and payable and/or demand that the Company immediately Cash Collateralize all or any Letters of Credit, whereupon the Commitments shall immediately terminate (or be reduced, as applicable) and/or the Loans and other Obligations hereunder shall become immediately due and payable (in whole or in part, as applicable) and/or the Company shall immediately become obligated to Cash Collateralize the Letters of Credit (all or any, as applicable), all without presentment, demand, protest or notice of any kind. The Administrative Agent shall promptly advise the Company of any such declaration, but failure to do so shall not impair the effect of such declaration. Any cash collateral delivered hereunder shall be held by the Administrative Agent (without liability for interest thereon) and applied to the Obligations arising in connection with any drawing under a Letter of Credit. After the expiration or termination of all Letters of Credit, such cash collateral shall be applied by the Administrative Agent to any remaining Obligations hereunder and any excess shall be delivered to the Company or as a court of competent jurisdiction may elect.

  • Consequences of Events of Default and Corrective Action If an Event of Default occurs, the Province may, at any time, take one or more of the following actions:

  • Events of Default Remedies If any of the following events (“Events of Default”) shall occur:

  • Termination of Default An Event of Default shall be deemed to have been terminated upon the earliest to occur of:

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