Company Defaults Sample Clauses

Company Defaults. (a) A "Company Contract Default" in respect of any Contract shall ------------------------ have occurred if Company shall be in material breach of any of its representations, warranties, agreements or covenants contained in this Agreement in respect of such Contract, and such breach (i) shall continue beyond the earlier of thirty (30) days and the cure period set forth in such Contract after the giving of written notice thereof to Company and (ii) shall not be the result of any act or omission of Supplier. (b) A "Company Event of Default" shall have occurred if any of the ------------------------ following events shall have occurred: (i) Company shall be in material breach of any of its representations, warranties, agreements or covenants contained in this Agreement, and such breach shall continue beyond thirty (30) days after the giving of written notice thereof to Company; (A) Company shall make an assignment for the benefit of creditors (other than solely an assignment of moneys due), (B) Company shall admit in writing that it is unable to pay debts as they mature or has ceased operating in the normal course of business, (C) a trustee or receiver of Supplier or of any substantial part of Company's assets has been appointed by any court, or (D) a proceeding shall be commenced under any provision of the United States Bankruptcy Code, voluntary or involuntary, by or against Company, which proceeding remains undismissed for sixty (60) days after the commencement thereof; or (iii) there shall have occurred and be continuing a "Company Event of Default" (as defined in the North America Agreement).
Sample 1
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Company Defaults. The Company shall be in default of this Agreement in the event of any of the following: (a) The Company fails to make timely payments of the Small Cell Fees, or any other fee due to the City under the terms of this Agreement, and does not correct such failure within 30 days after its receipt of written notice of such failure. (b) The Company, by act or omission, defaults under any provision of this Agreement and such default is not cured within 30 days following written notice by City to Company, or such longer cure period as permitted by the City if the Company (i) commences corrective action during 30 days following notice of the failure, and (ii) is diligently pursuing such corrective action to completion. (c) The Company becomes insolvent, unable or unwilling to pay its debts, is adjudged bankrupt, or all or part of its Facilities are sold under an instrument to secure a debt and is not redeemed by the Company within 60 days. (d) A representative of the Company acting as an authorized representative of the Company knowingly engages in conduct or makes a material misrepresentation with or to the City, that is fraudulent or in violation of a felony criminal statute of the State of Utah. (e) Company abandons use of all Wireless Facilities for 12 consecutive months, except as otherwise provided in Section 4.9.
Sample 1
Company Defaults. Notwithstanding any contrary provision of this Agreement, if the Company or any Subsidiary shall receive notice of any breach or default by the Company or any Subsidiary with respect to its obligations under any Financing Document, loan, lease, other agreement, or applicable law, and the FGIC Member shall determine in its reasonable discretion that such breach or default may have a material adverse effect on the Company, any Subsidiary, any Property, the FGIC Member, or the COPs Trust Members, then the FGIC Member shall have the sole and exclusive control of the Company and the Subsidiaries for the purpose of taking any and all actions on behalf of the Company and the Subsidiaries as the FGIC Member deems necessary or advisable to cure the breach or default, including the modification of any Financing Document, loan, lease or other agreement, the granting of liens or security interests on or in Company assets, the expenditure of Company funds, or the performance of work at any Property; provided that without the consent of the COPs Trust Members at the direction of the Majority of Holders, there shall be no change or modification made to any Financing Documents to : (i) increase the principal amount of any indebtedness; (ii) increase the rate of interest on any indebtedness; (iii) accelerate the time for payment of interest on or principal of any indebtedness, whether at stated or accelerated maturity or otherwise; and (iv) change the ranking, whether payment or lien priority, of any indebtedness.
Sample 1

Related to Company Defaults

  • Bankruptcy Defaults When any Event of Default described in subsections (j) or (k) of Section 9.1 hereof has occurred and is continuing, then all outstanding Loans shall immediately become due and payable together with all other amounts payable under the Loan Documents without presentment, demand, protest or notice of any kind, the obligation of the Lenders to extend further credit pursuant to any of the terms hereof shall immediately terminate and the Borrower shall immediately deliver to the Administrative Agent Cash Collateral in an amount equal to 102% of the aggregate amount of each Letter of Credit then outstanding, the Borrower acknowledging and agreeing that the Lenders would not have an adequate remedy at law for failure by the Borrower to honor any such demand and that the Lenders, and the Administrative Agent on their behalf, shall have the right to require the Borrower to specifically perform such undertaking whether or not any draws or other demands for payment have been made under any of the Letters of Credit.

  • Monetary Default Any failure by a Party to pay, deposit or deliver, when and as this Agreement requires, any amount of money, any bond or surety or evidence of any insurance coverage required to be provided under this Agreement, whether to or with a Party or a Third Person.

  • Non-Bankruptcy Defaults When any Event of Default (other than those described in subsection (j) or (k) of Section 9.1 hereof with respect to the Borrower) has occurred and is continuing, the Administrative Agent shall, by written notice to the Borrower: (a) if so directed by the Required Lenders, terminate the remaining Commitments and all other obligations of the Lenders hereunder on the date stated in such notice (which may be the date thereof); (b) if so directed by the Required Lenders, declare the principal of and the accrued interest on all outstanding Loans to be forthwith due and payable and thereupon all outstanding Loans, including both principal and interest thereon, shall be and become immediately due and payable together with all other amounts payable under the Loan Documents without further demand, presentment, protest or notice of any kind; and (c) if so directed by the Required Lenders, demand that, with respect to each Letter of Credit then outstanding, the Borrower immediately either (i) pay to the Administrative Agent the full amount then available for drawing thereunder, (ii) deliver to the Administrative Agent Cash Collateral in an amount equal to 105% of the aggregate amount thereof or (iii) return or cause to be returned to L/C Issuer such Letter of Credit for cancellation, and the Borrower agrees to immediately take such action and acknowledges and agrees that the Lenders would not have an adequate remedy at law for failure by the Borrower to honor any such demand and that the Administrative Agent, for the benefit of the Lenders, shall have the right to require the Borrower to specifically perform such undertaking whether or not any drawings or other demands for payment have been made under any Letter of Credit. The Administrative Agent, after giving notice to the Borrower pursuant to Section 9.1(c) or this Section 9.2, shall also promptly send a copy of such notice to the other Lenders, but the failure to do so shall not impair or annul the effect of such notice.

  • Non-Monetary Default The occurrence of any of the following, except to the extent constituting a Monetary Default: (a) any failure of a Party to perform any of such Party’s obligations under this Agreement; (b) any failure of a Party to comply with any material restriction or prohibition in this Agreement; or (c) any other event or circumstance that, with passage of time or giving of Notice, or both, would constitute a breach of this Agreement by a Party.

  • Termination by Default If the Bank is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Act (12 U.S.C. Section 1813(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but any vested rights of the Executive shall not be affected.

  • Existing Defaults No Loan Party is in default in the performance, observance or fulfillment of any of the obligations, contained in any Contractual Obligation applicable to it, and no condition exists which, with or without the giving of notice or the lapse of time, would constitute a default under such Contractual Obligation, except, in any such case, where the consequences, direct or indirect, of such default or defaults, if any, could not reasonably be expected to have a Material Adverse Effect on the Loan Parties, taken as a whole.

  • Defaults The following events shall be “Events of Default”:

  • Default GAC may, by written notice of default to the Contractor, terminate the whole or any part of the Agreement, in any one of the following circumstances:

  • ERISA Default The occurrence of one or more ERISA Events that (a) the Required Lenders determine could have a Material Adverse Effect, or (b) results in a Lien on any of the assets of any Company.

  • Default Notice As soon as possible and in any event within two days after the occurrence of each Default or any event, development or occurrence reasonably likely to have a Material Adverse Effect continuing on the date of such statement, a statement of the chief financial officer of the Borrower setting forth details of such Default and the action that the Borrower has taken and proposes to take with respect thereto.

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