AGENCY’S REMEDIES IN THE EVENT OF DEFAULT Sample Clauses

AGENCY’S REMEDIES IN THE EVENT OF DEFAULT. Upon Contractor’s default, or if the default is not cured within the applicable time period, if any, the Agency may do any or a combination of the following:
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AGENCY’S REMEDIES IN THE EVENT OF DEFAULT. 1053 Upon Contractor’s default, Agency has the following remedies in the event of Contractor default: 1054 X. Xxxxxx of Default. Agency may waive any event of default or may waive Contractor’s 1055 requirement to cure a default event if Agency determines that such waiver would be in the best 1056 interest of the Agency. Agency’s waiver of an event of default is not a waiver of future events of 1057 default that may have the same or similar conditions. 1058 B. Suspension of Contractor’s Obligation. Agency may suspend Contractor’s performance of its 1059 obligations if Contractor fails to cure default in the time frame specified in Section 10.2 until 1060 such time the Contractor can provide assurance of performance in accordance with Section 1061 10.8. 1062 C. Liquidated Damages. Agency may assess Liquidated Damages for Contractor’s failure to meet 1063 specific performance standards pursuant to Section 10.6 and Exhibit F. 1064 D. Termination. In the event that Contractor should default and subject to the right of the 1065 Contractor to cure, in the performance of any provisions of this contract, and the default is not 1066 cured for any default within in ten (10) calendar days if the default creates a potential public 1067 health and safety threat or arises under Section 10.1.C., E, F, I, J, or K, or otherwise thirty (30) 1068 calendar days after receipt of written notice of default from the Agency, then the Agency may, 1069 at its option, terminate this Agreement and/or hold a hearing at its {City Council/ Board of 1070 Directors/Board of Supervisors} meeting to determine whether this Agreement should be 1071 terminated. In the event Agency decides to terminate this Agreement, the Agency shall serve 1072 twenty (20) calendar days written notice of its intention to terminate upon Contractor. In the 1073 event Agency exercises its right to terminate this Agreement, the Agency may, at its option, 1074 upon such termination, either directly undertake performance of the services or arrange with 1075 other Persons to perform the services with or without a written agreement. This right of 1076 termination is in addition to any other rights of Agency upon a failure of Contractor to perform 1077 its obligations under this Agreement. 1078 Contractor shall not be entitled to any further revenues from Collection operations authorized 1079 hereunder from and after the date of termination. 1080 E. Other Available Remedies. Agency’s election of one (1) or remedies descr...
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Related to AGENCY’S REMEDIES IN THE EVENT OF DEFAULT

  • EVENT OF DEFAULT/REMEDIES 8.1 Any one or more of the following acts or omissions of the Contractor shall constitute an event of default hereunder (“Event of Default”):

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

  • Remedies Upon Event of Default If any Event of Default occurs and is continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any or all of the following actions:

  • Default Remedies Any one of the following occurrences shall constitute an ----------------- "EVENT OF DEFAULT" under this Note: (i) failure by the Maker to make any payment of principal or interest when the same becomes due and payable, said failure continuing for thirty (30) days or more; or (ii) if Maker shall fail to pay its debts, make an assignment for the benefit of its creditors, or shall commit an act of bankruptcy, or shall admit in writing its inability to pay its debts as they become due, or shall seek a composition, readjustment, arrangement, liquidation, dissolution or insolvency proceeding under any present or future statute or law, or shall file a petition under any chapter of federal Bankruptcy Code or any similar law, state or federal, now or hereafter existing, or shall become "insolvent" as that term is generally defined under the Federal Bankruptcy Code, or shall in any involuntary bankruptcy case commenced against it file an answer admitting insolvency or inability to pay its debts as they become due, or shall fail to obtain a dismissal of such case within sixty (60) days after its commencement or convert the case from one chapter of the Federal Bankruptcy Code to another chapter, or be the subject of an order for relief in such bankruptcy case, or to be adjudged a bankruptcy or insolvent, or shall have a custodian, trustee or receiver appointed for, or have any court take jurisdiction of its property, or any part thereof, in any proceeding for the purpose of reorganization, arrangement, dissolution or liquidation, and such custodian, trustee, liquidator or receiver shall not be discharged, or such jurisdiction shall not be relinquished, vacated or stayed within sixty (60) days of the appointment. Upon occurrence of an Event of Default hereunder, the entire outstanding principal balance and any unpaid interest then accrued under this Note, shall at the option of the Payee hereof and without demand or notice of any kind to the undersigned or any other person (including, but not limited to, any guarantor now or hereafter existing), immediately become and be due and payable in full. In such event, Payee shall have and may exercise any and all rights and remedies available at law or in equity.

  • Event of Breach Remedies 14.1. Event of Breach by Contractor. Any one or more of the following Contractor acts or omissions constitute an event of material breach under this Contract:

  • Default Remedies Termination A. [Sec. 400]

  • Remedies for Default (a) Enterprise Services’ rights to suspend and terminate Contractor’s rights under this Master Contract are in addition to all other available remedies.

  • Events of Default by Either Party It shall constitute an event of default (“Event of Default”) by either Party hereunder if:

  • Remedies Upon an Event of Default If an Event of Default shall have occurred and shall be continuing, the Holder of this Note may at any time at its option, declare the entire unpaid principal balance of this Note, together with all interest accrued hereon, due and payable, and thereupon, the same shall be accelerated and so due and payable; provided, however, that upon the occurrence of an Event of Default described in Section 3.1(f), without presentment, demand, protest, or notice, all of which are hereby expressly unconditionally and irrevocably waived by the Borrower, the outstanding principal balance and accrued interest hereunder shall be automatically due and payable. In addition, if an Event of Default shall have occurred and be continuing, the Holder may exercise or otherwise enforce any one or more of the Holder’s rights, powers, privileges, remedies and interests under this Note or applicable law and institute such actions or proceedings in law or equity as it shall deem expedient for the protection of its rights and may prosecute and enforce its claims against all assets and property of the Borrower, and in connection with any such action or proceeding shall be entitled to receive from the Borrower, payment of the principal amount of this Note plus accrued interest to the date of payment plus reasonable expenses of collection, including, without limitation, attorneys' and experts' fees and expenses. No course of delay on the part of the Holder shall operate as a waiver thereof or otherwise prejudice the right of the Holder. No remedy conferred hereby shall be exclusive of any other remedy referred to herein or now or hereafter available at law, in equity, by statute or otherwise.

  • 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.

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