Consequence of an Event of Default. If an Event of Default occurs, the Landlord shall have the right to resiliate the Lease upon sending a written notice to the Tenant to that effect (the “Resiliation Notice”), the whole without prejudice to its other rights and recourses in the circumstances, without payment or reimbursement to the Tenant of any kind or for any reason whatsoever, and without any right or remedy of the Tenant against the Landlord in connection with the Landlord’s exercise of such right; the Tenant waiving any rights and remedies it may have against the Landlord in this regard. The resiliation of the Lease shall take effect on the resiliation date indicate in the Resiliation Notice (the “Resiliation Date”), without the need for any further notice or legal proceedings, unless the Tenant has cured the Event of Default prior to the Resiliation Date.
Consequence of an Event of Default a) On and at any time after the occurrence of an Event of Default, Bank may, by notice to the Borrower/Co-Borrower(s):
Consequence of an Event of Default. On and at any time after the occurrence of an Event of Default, IHFL may, with or without any notice to any of the Borrower and with or without the intervention of the court/arbitrator, (i) cancel/recall the Loan whereupon the Borrower’s Dues shall become immediately repayable/payable by the Borrower; and/or (ii) initiate/exercise any or all of its rights, actions, remedies and powers under the Loan Documents and/or applicable laws; and/or (iii) enforce, allot, sell, invoke, deliver, deal with, take possession, convey, transfer, assign, lease, sub-lease, encumber and/or dispose off in any manner (including by private treaty and/or auction), on such terms and conditions including the sale/transfer price of the Security or any part/unit thereof as deemed fit by IHFL, any/ all/part of the Security including the guarantees and/or the demand promissory notes, and/or do such other things in relation to and/or with respect to the Security (any part thereof) which may be permitted under law. If the net sum realized through the enforcement/sale/ transfer of Security is insufficient to cover the Borrower’s Dues, then without prejudice to the other rights and remedies of IHFL under the Loan Documents and/or in law, the Borrower agree(s) and undertake(s) to pay to IHFL forthwith at IHFL’s demand such amount as will make up the shortfall. The decision made by IHFL with respect to any matter under the Loan Documents shall be final and binding on the Borrower.
Consequence of an Event of Default. If an Event of Default occurs in relation to a Shareholder (Defaulter), at the election of non- defaulting Shareholder (Non-Defaulter) by giving written notice to all parties (Default Notice):
Consequence of an Event of Default. In the event of occurrence of any one of the Events of Default described in the preceding section, the Bank may, by operation of law, declare this Agreement terminated, in accordance with the provisions of the Civil Code, Section 1430, by means of a written notarized letter submitted to the Borrower, and/or accelerate this Loan, attaching thereto the settlement of the debit balance as referred to in the General Law, Section 132, subsection 7, without any further notice or formality whatsoever, and to this end the periods shall be deemed to be expired and the immediate payment of any due amounts shall be required; in which case the Bank shall be entitled to execute and/or xxx in court for payment of the total due amounts, including the Promissory Note and the Guarantee. Any delay on the part of the Bank in exercising this right shall not operate, in any case, as a waiver thereof. In case of occurrence of the event as specified in the first paragraph of this section and provided the Bank does not collect the total amounts owed by the Borrower, including the payment of penalties, fees, expenses, professional fees, court costs and attorney’s fees, collection costs, accrued or to be accrued, any compensatory and default interest shall be applicable to the aforementioned debt at the rates as established herein. Additionally, upon the occurrence of any Event of Default and until it is cured or the Agreement is terminated, the Bank shall apply the Interest for Events of Default, if applicable, as provided for in Section 2.07. The termination of this Agreement in no way affects the Guarantees granted in favor of the Bank, which shall remain in full force and effect until the full payment of the obligations owed by the Borrower.
Consequence of an Event of Default. Upon or after the occurrence of an Event of Default, which Default is not cured within five calendar days following the Debtor's receipt of written notice from the senior Creditor specifying the nature of such event of Default, the Senior Creditor shall have the option to cease making all advances under the Postpetition Loan, to declare the Postpetition Loan to be immediately due and payable and to terminate this Agreement. The Senior Creditor shall notify Debtor, the Sub-Debtors and the Non-Debtor Subsidiaries of its election to do so by delivering written notice to the Debtor specifying that an Event of Default has occurred and stating that the Senior Creditor shall not make additional advances.
Consequence of an Event of Default. If an Event of Default shall occur and be continuing or shall exist, CIT may, unless specifically prohibited by the Interim Bankruptcy Court Order or the Final Bankruptcy Court Order, by notice to the Borrower, exercise one or more of the following remedies
