Action on Default. Upon the occurrence of any Event of Default and whilst the same is continuing, and without prejudice to any of Burdale's rights under this Agreement, Burdale may, by notice to the Company:
Action on Default. During the continuance of a Default, the Administrative Agent shall, if requested by Two-Thirds of the Lenders, notify the Borrowers that • the Borrowers’ Rights are terminated, whereupon such Borrowing Rights shall terminate, or • all the Borrowers’ Loans, with accrued interest, and all other amounts payable by the Borrowers under this Agreement, are immediately due and payable, whereupon all such Loans, accrued interest and other amounts payable under this Agreement shall be immediately due and payable by the Borrowers without presentment, demand, protest or other notice of any kind, all of which the Borrowers waive, provided that if the Default is one described in Section 7.1(f) or 7.1(g), then without notice to the Borrowers or other act by the Administrative Agent or Two-Thirds of the Lenders, the Borrowers’ Borrowing Rights shall immediately terminate, and the Loans, with accrued interest, and other amounts payable under this Agreement, shall become immediately due and payable by the Borrowers without presentment, demand, protest or other notice of any kind, all of which the Borrowers waive, and the Administrative Agent may and shall, at the request of Two-Thirds of the Lenders, exercise all rights and remedies available to it hereunder and under applicable law or in equity.
Action on Default. Subject to the terms and conditions of a trust indenture for the Bonds, the Other Bonds, and the terms of this Financing Agreement, including the dispute resolution provisions of Section 11.4, if any Event of Default shall occur, and any applicable cure period has expired, then, and in each and every case during the continuance of the Event of Default, the Authority may take any or all of the actions permitted by law, including the following:
Action on Default. If an event of default (within the meaning of Article VI of the Lease Agreement) shall happen, then such event of default shall constitute an event of default hereunder. The Trustee may give notice, as assignee of the Authority, of an event of default under the Lease Agreement to the City, and shall do so if directed to do so by the Owners of not less than a majority of the aggregate principal amount of Bonds then Outstanding. In each and every case during the continuance of an event of default, the Trustee may and, at the direction of the Owners of not less than a majority of the aggregate principal amount of Bonds then Outstanding, shall, upon notice in writing to the City and the Authority, exercise any of the remedies granted to the Authority under the Lease Agreement and, in addition, take whatever action at law or in equity may appear necessary or desirable to enforce its rights as assignee pursuant to the Assignment Agreement or to protect and enforce any of the rights vested in the Trustee or the Owners by this Indenture or by the Bonds, either at law or in equity or in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement or for the enforcement of any other legal or equitable right, including any one or more of the remedies set forth in Section 7.02 hereof.
Action on Default. 25 26 Successors, Assigns.......................... 25 27 Headings..................................... 25 28 Prior Agreements............................. 25 29 Law.......................................... 26 Execution 26 Schedule 1821, General Service - Transmission (5000 kV.A. and over) Schedule 1880, General Service - Emergency, Maintenance and Special Supply Appendix: - Provisions Respecting Transmission Extension and Site Specific Matters GENERAL DEFINITIONS
Action on Default. 25. Subject to other provisions of this Agreement, if the Customer fails at any time in the performance of its obligations under clauses 20 or 21 or subclauses 6(a), 6(b), 7(c), 7(f), 13(b), 13(c), 13(d) or 14(b) and does not, within 30 days after B.C.Hydro has given to it notice of such failure, commence to remedy with due diligence, and thereafter continue to remedy the matter in which it is in default, B.C.Hydro may, without terminating this Agreement, after the expiry of 5 days' notice given to the Customer by B.C.Hydro of its intention to do so, and without liability therefor, discontinue the supply of Electricity to the Customer, but no such discontinuance shall relieve the Customer from any obligation under this Agreement. B.C.Hydro shall not be obliged to resume the supply of Electricity to the Customer until such failure shall have been remedied.
Action on Default. In each and every case during the continuance of an Event of Default, the Trustee or the Owners of not less than a majority in aggregate principal amount evidenced by the Certificates of such Series at the time Outstanding shall be entitled, upon notice in writing to the City and the Corporation, to exercise any of the remedies granted to the City under the Lease or to the Corporation under the Sublease, and in addition, to take whatever action at law or in equity may appear necessary or desirable to enforce its rights as assignee pursuant to the Assignment Agreement or to protect and enforce any of the rights vested in the Trustee or such Owners by this Trust Agreement or by such Certificates, either at law or in equity or in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement or for the enforcement of any other legal or equitable right, including any one or more of the remedies set forth in Section 7.03(a), (b) or (c) hereof. Anything in this Trust Agreement to the contrary notwithstanding, upon the occurrence and continuance of an Event of Default as defined herein, the Certificate Insurer shall be entitled to control and direct the enforcement of all rights and remedies granted to the Owners or the Trustee for the benefit of the Owners under this Trust Agreement.
Action on Default. The Trustee shall give notice, as assignee of the Authority, of an Event of Default to the City. In each and every case during the continuance of an Event of Default, the Trustee may and, at the written direction of the Required Bond Owners, and upon being indemnified to its reasonable satisfaction therefor, shall, upon notice in writing to the City and the Authority, exercise any of the remedies granted to the Trustee hereunder and (as assignee of the Authority) under the Lease Agreement and, in addition, take whatever action at law or in equity may appear necessary or desirable to enforce its rights as assignee pursuant to the Assignment Agreement or to protect and enforce any of the rights vested in the Trustee or the Owners by the Indenture or by the Bonds, either at law or in equity or in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement or for the enforcement of any other legal or equitable right, including any one or more of the remedies set forth in Section 7.03 hereof. right:
Action on Default. If any default in the payment of principal of or interest on a Note; or any other “Event of Default” defined in a Note Resolution shall occur and be continuing, or any default shall be made by any Local Educational Agency in the performance or observance of any other of the covenants, agreements or conditions on its part herein contained and such default shall have continued for a period of thirty (30) days after written notice thereof shall have been given to such Local Educational Agency by either (i) the Trustee or (ii) the Owners of not less than a majority in aggregate principal amount of the Note Participations at the time Outstanding, then such default shall constitute an “Event of Default” hereunder, and in each and every such case during the continuance of such Event of Default, either the Trustee or such Owners shall be entitled, upon notice in writing to such Local Educational Agency, but subject to the provisions of Section 7.05, to exercise the remedies provided to the owner of such Note then in default or under the Note Resolution pursuant to which it was issued which are necessary or desirable to collect the principal of such Note and the interest thereon to maturity. The Owners of the Note Participations, for purposes of the Trust Agreement and the Note Resolution of the applicable Local Educational Agency, to the extent of their interest, shall be treated as owners of the Notes and shall be entitled to all rights and security of the owners of such Notes pursuant to each such Note, the Note Resolution and the Trust Agreement, and shall be treated for all purposes as owners of such Notes. Each Local Educational Agency recognizes the rights of the Owners of the Note Participations, acting directly or through the Trustee, to enforce the obligations and covenants contained in such Note, its Note Resolution and the Trust Agreement; provided that in no event shall a Local Educational Agency be liable for any obligations, covenants or damages except those which arise out of its Note and its Note Resolution, and, in particular, no Local Educational Agency shall be liable for any obligations, liabilities, acts or omissions of any other Local Educational Agency.
Action on Default. Notwithstanding the foregoing, following the occurrence of a default by Borrower under the Loan Documents, which gives the Lender the right to accelerate either immediately or after a limited period of time, and within five (5) days (or sooner if the nature of the default so requires) after notification to Participant by Lender of such default, Lender and Participant shall (i) consult to determine a mutually acceptable course of action to take with respect to such default and (ii) pursue such course of action without delay and with due diligence. If Lender and Participant cannot agree upon a mutually acceptable course of action, then the decision of the Majority of Participants shall determine what actions shall be taken or Lender shall have the right (but not the obligation) to purchase the Percentage Interest of each Participant who has voted against the course of action, recommended by Lender in accordance with this Section 9.2, at the price equal to the Purchase Price (as defined in Section 11.1 below). If Lender acquires the Collateral through a foreclosure or UCC sale, Participant shall have an undivided interest in the Collateral equal to its Percentage Interest in the Loan and title shall be taken in such manner as a Majority of Participants shall determine. In the event of liquidation of the Collateral, then after payment of all reasonable costs and expenses of collection, the Lender shall promptly remit to the Participant its share, based on the Participant’s Percentage Interest, of all net proceeds received by the Lender as a consequence of such liquidation proceeding or action. In the event of a payment default that remains uncured for ninety (90) days, the Participant may request that the Lender repurchase the Participant’s interest in the Loan. Upon such written request, the Lender shall be obligated to pay off the Participant in full within ten (10) days.
