Automatic Default. The parties shall fall in automatic default (xxxx automática), without need for any formal judicial or extrajudicial demand or act, for the sole action of performing or not performing an act that constitutes a violation to the terms and conditions of this Agreement.
Appears in 3 contracts
Samples: Loan Facility Agreement (Navios South American Logistics Inc.), Loan Facility Agreement (Navios South American Logistics Inc.), Loan Facility Agreement (Navios South American Logistics Inc.)
Automatic Default. The parties Parties shall fall in automatic default (xxxx automática), without need for any formal judicial or extrajudicial demand or act, for the sole action of performing or not performing an act that constitutes a violation to the terms and conditions of this Agreement.
Appears in 2 contracts
Samples: Senior Secured Term Loan Facility Agreement, Senior Secured Term Loan Facility Agreement (Navios South American Logistics Inc.)
