Certain Events of Loss Sample Clauses

Certain Events of Loss. Upon the occurrence of an Event of Loss with respect to any item of Equipment, Debtor shall pay Secured Party within thirty (30) days after receipt of insurance proceeds after the occurrence of such Event of Loss (but in no event shall such period extend 120 days beyond the date of the occurrence of such Event of Loss) or, if such day is not a Business Day, on the next occurring Business Day (the "Event of Loss Payment Date") an amount equal to the sum of (a) the Termination Value (computed as of the Installment Payment Date immediately preceding the Event of Loss Payment Date) for the items of Equipment then subject to the Event of Loss, plus (b) all accrued but unpaid interest, plus (c) any Break-Funding Costs with respect to the items of Equipment then subject to the Event of Loss, plus (d) all other obligations owing hereunder on the Event of Loss Payment Date. Upon payment of the amounts set forth in (a)-(d) above, Secured Party shall release its Lien on the items of Equipment then subject to the Event of Loss.
Sample 1Sample 2
AutoNDA by SimpleDocs
Certain Events of Loss. Upon the occurrence of an Event of Loss with respect to the Aircraft, (a) Borrower shall pay Bank on the earlier of (i) the Monthly Payment Date on or immediately succeeding the 90th day following the date of occurrence of such Event of Loss and (ii) the Monthly Payment Date immediately succeeding the date of receipt of insurance proceeds with respect to such Event of Loss, an amount equal to the sum of the outstanding principal balance of the Loan and the accrued interest on the Note and all other obligations owing hereunder as of such date, and (b) Bank shall release its Lien on the Collateral on the date of receipt of all such amounts. Upon the occurrence of an Event of Loss with respect to an Engine under circumstances in which there has not occurred an Event of Loss with respect to the Airframe, the Borrower shall (i) give the Bank prompt written notice thereof, (ii) within 15 days after the date of occurrence of such Event of Loss, take such actions as are necessary to ensure that such Engine shall be replaced as soon as possible, and
Sample 1
Certain Events of Loss. If an Event of Loss described in clause (i) or (ii) of the definition thereof shall occur for the Property, prior to the date title to the Property shall have been conveyed to the condemning authority having jurisdiction thereof, Tenant shall give Landlord prompt written notice of such occurrence and the date thereof.
Sample 1
Certain Events of Loss. Upon the occurrence of an Event of Loss with respect to the Aircraft, (a) Borrower shall pay Bank on the earlier of (i) the Monthly Payment Date on or immediately succeeding the 90th day following the date of occurrence of such Event of Loss and (ii) the Monthly Payment Date immediately succeeding the date of receipt of insurance proceeds with respect to such Event of Loss, an amount equal to the sum of the outstanding principal balance of the Loan and the accrued interest on the Note and all other obligations owing hereunder as of such date, and (b) Bank shall release its Lien on the Collateral on the date of receipt of all such amounts. Upon the occurrence of an Event of Loss with respect to an Engine under circumstances in which there has not occurred an Event of Loss with respect to the Airframe, the Borrower shall (i) give the Bank prompt written notice thereof, (ii) within 15 days after the date of occurrence of such Event of Loss, take such actions as are necessary to ensure that such Engine shall be replaced as soon as possible, and (iii) within 60 days after the date of occurrence of such Event of Loss, cause, as replacement for the Engine with respect to which such Event of Loss occurred, another General Electric CF6-50C2 engine (or engine of the same or another manufacturer, of the same or improved utility, performance and efficiency and suitable for installation and use on the Airframe in conjunction with the remaining Engines installed on the Aircraft) owned by the Borrower free and clear of all Liens and having a value and utility at least equal to, and being in as good operating condition as, the Engine with respect to which such Event of Loss occurred, assuming such Engine was of the value and utility and in the condition and repair required by the terms hereof immediately prior to the occurrence of such Event of Loss to be subjected to Bank's security interest hereunder and under the Security Agreement. Prior to or at the time of any such conveyance, the Borrower, at its own expense, will (i) cause a supplement to the Security Agreement, in form and substance satisfactory to the Bank, to be duly executed by the Borrower and recorded pursuant to the Federal Aviation Act, (ii) execute and, if necessary, file such documents as may be reasonably required by the Bank to confirm the Bank's security interest in such replacement engine, (iii) furnish the Bank with such evidence of compliance with the insurance provisions of Section 7.1 hereof with...
Sample 1

Related to Certain Events of Loss

  • Certain Events If any event occurs of the type contemplated by the adjustment provisions of this Paragraph 4 but not expressly provided for by such provisions, the Company will give notice of such event as provided in Paragraph 4(g) hereof, and the Company's Board of Directors will make an appropriate adjustment in the Exercise Price and the number of shares of Common Stock acquirable upon exercise of this Warrant so that the rights of the holder shall be neither enhanced nor diminished by such event.

  • Certain Events of Default The following Events of Default will apply to the parties as specified below, and the definition of “Event of Default” in Section 14 is deemed to be modified accordingly: Section 5(a) (i) (Failure to Pay or Deliver) will apply to Party A and Party B. Section 5(a)(ii) (Breach of Agreement) will not apply to Party A or Party B. Section 5(a)(iii) (Credit Support Default) will not apply to Party A or Party B. Section 5(a)(iv) (Misrepresentation) will not apply to Party A or Party B. Section 5(a)(v) (Default under Specified Transaction) will not apply to Party A or Party B. Section 5(a)(vi) (Cross Default) will not apply to Party A or Party B. Section 5(a)(vii) (Bankruptcy) will apply to Party A and Party B; provided that clause (2) thereof shall not apply to Party B. Section 5(a)(viii) (Merger without Assumption) will apply to Party A and Party B.

  • Notification of Certain Events Prior to the expiration of this Warrant pursuant to Section 8, in the event that the Company shall authorize: (a) the issuance of any dividend or other distribution on the capital stock of the Company (other than (i) dividends or distributions otherwise provided for in Section 6, (ii) repurchases of common stock issued to or held by employees, officers, directors or consultants of the Company or its subsidiaries upon termination of their employment or services pursuant to agreements providing for the right of said repurchase; (iii) repurchases of common stock issued to or held by employees, officers, directors or consultants of the Company or its subsidiaries pursuant to rights of first refusal or first offer contained in agreements providing for such rights; or (iv) repurchases of capital stock of the Company in connection with the settlement of disputes with any stockholder ), whether in cash, property, stock or other securities; (b) the voluntary liquidation, dissolution or winding up of the Company; or (c) any transaction resulting in the expiration of this Warrant pursuant to Section 8(b); the Company shall send to the Holder of this Warrant at least ten (10) calendar days prior written notice of the date on which a record shall be taken for any such dividend or distribution specified in clause (a) or the expected effective date of any such other event specified in clause (b) or (c), as applicable. The notice provisions set forth in this section may be shortened or waived prospectively or retrospectively by the consent of the Holder of this Warrant.

  • Effect of Certain Events (a) If at any time the Company proposes (i) to sell or otherwise convey all or substantially all of its assets or (ii) to effect a transaction (by merger or otherwise) in which more than 50% of the voting power of the Company is disposed of (collectively, a "Sale or Merger Transaction"), in which the consideration to be received by the Company or its shareholders consists solely of cash, the Company shall give the holder of this Warrant thirty (30) days' notice of the proposed effective date of the transaction specifying that the Warrant shall terminate if the Warrant has not been exercised by the effective date of the transaction. (b) In case the Company shall at any time effect a Sale or Merger Transaction in which the consideration to be received by the Company or its shareholders consists in part of consideration other than cash, the holder of this Warrant shall have the right thereafter to purchase, by exercise of this Warrant and payment of the aggregate Exercise Price in effect immediately prior to such action, the kind and amount of shares and other securities and property which it would have owned or have been entitled to receive after the happening of such transaction had this Warrant been exercised immediately prior thereto.

  • Adjustments Upon Certain Events In the event of any change in the outstanding Shares by reason of any Share dividend or split, reorganization, recapitalization, merger, consolidation, amalgamation, spin-off or combination transaction or exchange of Shares or other similar events (collectively, an “Adjustment Event”), the Committee may, in its sole discretion, adjust any Shares or RSUs subject to this Agreement to reflect such Adjustment Event.

  • NOTICE OF CERTAIN EVENTS AFFECTING REGISTRATION; SUSPENSION OF RIGHT TO MAKE A PUT The Company shall promptly notify the Investor upon the occurrence of any of the following events in respect of a Registration Statement or related prospectus in respect of an offering of the Securities: (i) receipt of any request for additional information by the SEC or any other federal or state governmental authority during the period of effectiveness of the Registration Statement for amendments or supplements to the Registration Statement or related prospectus; (ii) the issuance by the SEC or any other federal or state governmental authority of any stop order suspending the effectiveness of any Registration Statement or the initiation of any proceedings for that purpose; (iii) receipt of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Securities for sale in any jurisdiction or the initiation or notice of any proceeding for such purpose; (iv) the happening of any event that makes any statement made in such Registration Statement or related prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the Registration Statement, related prospectus or documents so that, in the case of a Registration Statement, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and that in the case of the related prospectus, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; and (v) the Company’s reasonable determination that a post-effective amendment or supplement to the Registration Statement would be appropriate, and the Company shall promptly make available to Investor any such supplement or amendment to the related prospectus. The Company shall not deliver to Investor any Put Notice during the continuation of any of the foregoing events in this Section 5.10.

  • Notice of Certain Events Affecting Registration; Suspension of Right to Make an Advance The Company will immediately notify the Investor upon its becoming aware of the occurrence of any of the following events in respect of a registration statement or related prospectus relating to an offering of Registrable Securities: (i) receipt of any request for additional information by the SEC or any other Federal or state governmental authority during the period of effectiveness of the Registration Statement for amendments or supplements to the registration statement or related prospectus; (ii) the issuance by the SEC or any other Federal or state governmental authority of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii) receipt of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; (iv) the happening of any event that makes any statement made in the Registration Statement or related prospectus of any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the Registration Statement, related prospectus or documents so that, in the case of the Registration Statement, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and that in the case of the related prospectus, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; and (v) the Company's reasonable determination that a post-effective amendment to the Registration Statement would be appropriate; and the Company will promptly make available to the Investor any such supplement or amendment to the related prospectus. The Company shall not deliver to the Investor any Advance Notice during the continuation of any of the foregoing events.

  • Notification of Defaults and Events of Default Each Lender hereby agrees that, upon learning of the existence of a Default or an Event of Default, it shall promptly notify the Administrative Agent thereof. The Administrative Agent hereby agrees that upon receipt of any notice under this §14.10 it shall promptly notify the other Lenders of the existence of such Default or Event of Default.

  • Action Upon Certain Failures of the Master Servicer and Upon Event of Default In the event that a Responsible Officer of the Trustee shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee shall give prompt written notice thereof to the Master Servicer.

  • Adjustment for Certain Events The number and kind of securities purchasable upon the exercise of this Warrant and the Warrant Price shall be subject to adjustment from time to time upon the occurrence of certain events, as follows:

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!