Breach by Lender Sample Clauses

The 'Breach by Lender' clause defines the consequences and remedies available if the lender fails to fulfill its obligations under the agreement. Typically, this clause outlines what constitutes a breach by the lender, such as failing to provide funds as agreed or violating confidentiality terms, and specifies the steps the borrower can take in response, which may include demanding performance, seeking damages, or terminating the agreement. Its core practical function is to protect the borrower by ensuring there are clear procedures and recourse in the event the lender does not meet its contractual commitments.
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Breach by Lender. Upon failure of the Lender to perform any material obligation imposed upon it under the Loan Documents or this Agreement, not cured within thirty (30) days after written notice of such breach is given by the Participant to the Lender, or upon failure of Lender to pay Participant its share of any Collections, or if any dissolution, termination of existence, insolvency, business failure, appointment of receiver of any part of the property, assignment for the benefit of creditors, or the commencement of any proceeding under any bankruptcy or insolvency law, State or Federal, by or against the Lender, then the Majority of the Participants shall have the right to notify the Borrower of their interests therein and demand and receive payment when due from the Borrower to the extent of their Percentage Interests and Lender upon demand of a Majority of the Participants, shall assign to the designee of the Majority of Participants the Loan Documents then held by Lender, reserving unto Lender, however, its own Participation therein. Upon such assignment, the designee of a Majority of the Participants shall thereupon become and be deemed to be the Lender hereunder; and Lender shall become and be deemed to be a Participant hereunder, each with all the same rights, powers, duties, privileges and obligations in such new capacity hereunto pertaining.
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Breach by Lender. In the event that Lead Lender: (a) shall breach the terms of this Agreement and shall fail to cure such default within sixty (60) days after written notice from Participant to Lead Lender; (b) shall make an assignment for the benefit of creditors; (c) shall admit in writing its inability to pay its debts as they become due; (d) shall file a voluntary petition for an arrangement or reorganization pursuant to the Federal Bankruptcy Code or any similar law now or hereafter existing ("Bankruptcy Proceeding"); (e) shall become "insolvent" as defined in the Federal Bankruptcy Code; (f) shall file an answer admitting insolvency or inability to pay its debts as they become due, or shall fail to obtain a vacation or stay of any involuntary Bankruptcy Proceeding within one hundred twenty (120) days after the institution of the same; (g) shall be adjudicated a bankrupt or declared insolvent in any Bankruptcy Proceeding; (h) shall have a custodian, trustee, or receiver appointed for, or have any court take jurisdiction over, its property or any part thereof, in any voluntary proceeding for the purpose of reorganization, arrangement, dissolution, or liquidation, and such custodian, trustee or receiver shall not be discharged or such jurisdiction not be relinquished, vacated, or stayed within one hundred twenty (120) days; or (i) shall be dissolved, wound up, or fail to maintain its existence other than pursuant to a plan of consolidation or merger into, with, or as part of, Lead Lender's affiliates, or any entity currently owning Lead Lender or an affiliate thereof, pursuant to the acquisition by another of the majority of the assets of Lead Lender or Lead Lender's acquisition of a majority of the assets of another; or (j) any material representation or warranty by Lead Lender hereunder shall be false or misstated; Then, in such event, upon the written demand of Participant, Lead Lender shall turn over to, and shall assign, endorse, and transfer the Loan to the Participant, and if Lead Lender retains a Participation Interest in the Loan, shall become solely a participant with the rights of a Participant and with no right or obligation to administer the Loan.
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Breach by Lender. In the event Lender breaches any condition or covenant of this Authorization or the Master Loan Guarantee Agreement, or in the event Lender fails to comply with the Act or ALG Rules, Authority may limit, revoke, terminate or withdraw its guarantee or rebate for the Loan.
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Breach by Lender. In the event Lender fails to make any advance when due pursuant to this Agreement, and Lender fails to cure such breach within [*] business days after Borrower gives Lender notice thereof, Borrower will be entitled to [*]. The foregoing [*] will be suspended during any period during which there exists a good faith dispute concerning the compliance with the requirements of this Agreement of Borrower's request for the Advance in question.
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Related to Breach by Lender

  • Breach by Lessor Lessor shall not be deemed in breach of this Lease unless Lessor fails within a reasonable time to perform an obligation required to be performed by Lessor. For purposes of this Paragraph 13.5, a reasonable time shall in no event be less than thirty (30) days after receipt by Lessor, and by any Lender(s) whose name and address shall have been furnished to Lessee in writing for such purpose, of written notice specifying wherein such obligation of Lessor has not been performed; provided, however, that if the nature of Lessor's obligation is such that more than thirty (30) days after such notice are reasonably required for its performance, then Lessor shall not be in breach of this Lease if performance is commenced within such thirty (30) day period and thereafter diligently pursued to completion.

  • Breach by Seller In the event Seller shall fail to fully and timely perform any of its obligations hereunder or shall fail to consummate the sale of the Property for any reason, except Purchaser’s default, Purchaser may: (1) enforce specific performance of this Contract; or (2) request that the Escrow Deposit, if any, shall be forthwith returned by the title company to Purchaser.

  • Breach by Licensee a. The licensee shall have five (5) business days from its receipt of written notice by Producer and/or Producer’s authorized representative to cure any alleged breach of this Agreement by Licensee. Licensee’s failure to cure the alleged breach within five (5) business days shall result in Licensee’s default of its obligations, its breach of this Agreement, and at Producer's sole discretion, the termination of Licensee’s rights hereunder. b. If Licensee engages in the commercial exploitation and/or sale of the Beat or New Song outside of the manner and amount expressly provided for in this Agreement, Licensee shall be liable to Producer for monetary damages in an amount equal to any and all monies paid, collected by, or received by Licensee, or any third party on its behalf, in connection with such unauthorized commercial exploitation of the Beat and/or New Song. c. Licensee recognizes and agrees that a breach or threatened breach of this Agreement by Licensee give rise to irreparable injury to Producer, which may not be adequately compensated by damages. Accordingly, in the event of a breach or threatened breach by the Licensee of the provisions of this Agreement, Producer may seek and shall be entitled to a temporary restraining order and a preliminary injunction restraining the Licensee from violating the provisions of this Agreement. Nothing herein shall prohibit Producer from pursuing any other available legal or equitable remedy from such breach or threatened breach, including but not limited to the recovery of damages from the Licensee. The Licensee shall be responsible for all costs, expenses or damages that Producer incurs as a result of any violation by the Licensee of any provision of this Agreement. Licensee’ obligation shall include court costs, litigation expenses, and reasonable attorneys' fees.

  • BREACH BY PURCHASER In the event Purchaser should fail to consummate the purchase of the Property, the conditions to Purchaser’s obligations set forth in Article III having been satisfied and Purchaser being in default and Seller not being in default hereunder, Seller shall have the right to receive the Escrow Deposit, if any, from the title company, the sum being agreed on as liquidated damages for the failure of Purchaser to perform the duties, liabilities, and obligations imposed upon it by the terms and provisions of this Contract, and Seller agrees to accept and take this cash payment as its total damages and relief and as Seller’s sole remedy hereunder in such event. If no Escrow Deposit has been made then Seller shall receive the amount of $500 as liquidated damages for any failure by Purchaser.

  • No Waiver by Lender Lender shall not be deemed to have waived any rights under this Agreement unless such waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Agreement shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that provision or any other provision of this Agreement. No prior waiver by Lender, nor any course of dealing between Lender and Borrower, or between Lender and any Grantor, shall constitute a waiver of any of Lender's rights or of any of Borrower's or any Grantor's obligations as to any future transactions. Whenever the consent of Lender is required under this Agreement, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender.