ASSIGNOR’S Default Sample Clauses

ASSIGNOR’S Default. If any of the following events occur, ASSIGNOR shall be in default and ASSIGNEE, at its option, shall have the right to terminate this Agreement upon thirty (30) days written notice to ASSIGNOR. ASSIGNOR ceases to function as a going concern, makes an Assignment for the benefit of creditors, files a petition in bankruptcy, permits a petition in bankruptcy to be filed against it, or admits in writing its inability to pay its debts as they mature or if a receiver is appointed for a substantial part of its assets;

ASSIGNOR’S Default. If this transaction fails to close as a result of Assignor's default, the Exxxxxx Money shall be returned to Assignee. In addition, Assignee shall be entitled to such remedies for Assignor's breach of contract as may be available at law and in equity, including, without limitation, the remedy of specific performance, which the parties agree was bargained for because of the unique nature of the rights to be transferred hereunder and the difficulty of compensating Assignee with damages, provided, however, if Assignor is in default due to causes beyond its reasonable control, Assignee shall not be entitled to pursue Assignor for monetary damages. Assignor shall be deemed to be in default under this Agreement if it fails to proceed with the Closing under the Sales Contract on the Closing Date or otherwise defaults under the Sales Contract.

ASSIGNOR’S Default. (a) If the Assignor: (i) becomes insolvent or subject to any bankruptcy or insolvency proceedings under any applicable laws; or (ii) for any other reason becomes unable or flatly refuses to discharge its obligations under this Agreement; or (iii) remains in substantial breach of its obligations under this Agreement despite prior written Xxxxxxxx's notice of breach describing in sufficient detail the breach in question and requesting its cure, then the Assignor will be obligated and the Assignee fully entitled to make all steps (including signing documents or any other legal acts) necessary or reasonably believed to be necessary or useful in order to make any and all assignments of Claims under this Agreement (save for Claims already satisfied) effective vis-à-vis the respective Borrower(s) or any other respective Counterparties, including the Platform. (b) The Assignor represents and warrants that in case defined in Clause 6.6(a): (i) the Platform will (A) accept a copy of this Agreement supplemented by a Confirmation as a sufficient proof of assignment of Claim or Claims covered by such Confirmation from the Assignor to the Assignee, and (B) after such proof provide to the Assignee all necessary information and cooperation in order to prove the respective assignment to any Counterparty; (ii) the Liquidator will accept a copy of this Agreement supplemented by a Confirmation as a sufficient proof of assignment of Claim or Claims covered by such Confirmation from the Assignor to the Assignee. (c) The Assignee hereby acknowledges and agrees that in order to take over the Assignor's position the Platform or Liquidator may require that Assignee meets certain standard conditions (for example registration, accepting standard terms of service or undertaking KYC process). (d) All costs associated with measures under this Article (6.6) shall be borne exclusively by the Assignor.

ASSIGNOR’S Default. If Assignee exercises the option but Assignor either does not timely execute and deliver the Partial Assignment Agreement or Assignor executes the Agreement, but cannot or will not build the hangar for any reason, Assignee will receive its option fee back with interest of 10% per annum from date of option fee payment.