Consequences of a Default Sample Clauses

Consequences of a Default. 1. If a Default occurs, the Authority may give to the Contractor a notice of Default and an opportunity to cure. If the Contractor has not cured, or made reasonable progress to cure the Default within fifteen (15) days from the Contractor’s receipt of the notice, the Authority may immediately terminate the Contract by written notice to the Contractor. If the Authority elects to terminate this Contract, every obligation contained in this Contract to be performed by the Authority shall cease. 2. When this Contract is terminated, the Contractor shall immediately vacate the Premises and Facilities and the Authority or its agents or employees may immediately or at any time thereafter, re-enter the Premises and Facilities and remove the Contractor, its agents, subcontractors, invitees, and property. Re-entry and removal may be effected by summary dispossess proceedings, by any suitable action or proceeding at law, by force, or otherwise. The Authority shall be entitled to the benefits of all provisions of law respecting speedy recovery of the Premises and Facilities held over by the Contractor. Any other notice to re-enter the Premises and Facilities is hereby expressly waived by the Contractor. The Authority shall not be liable in any way in connection with any action it takes pursuant to this Section. The Contractor's liability shall survive the Authority's re-entry, the institution of summary proceedings, and the issuance of any warrants with respect thereto. 3. If this Contract is terminated, the Contractor shall remain liable (in addition to accrued liabilities) to the extent legally permissible for the amounts that the Contractor would have been required to pay to the Authority had the Contract not been terminated. In addition, the Contractor shall pay to the Authority such sums as the court which has jurisdiction there over may adjudge as reasonable attorneys fees with respect to any successful lawsuit or action instituted by the Authority to enforce the provisions of this Contract. 4. The Authority may enter into a new contract with another contractor that will provide taxicab services for all or any part of the unexpired portion of the Contract Term or for any longer period. The Authority has the sole and absolute discretion with respect to the selection of a new contractor and its use of the Premises and Facilities. 5. If the Contractor is in Default under this Contract, the Authority may, after providing written notice to the Contractor of the Default...

Consequences of a Default. On or after the occurrence of any Event of Default that has not been either cured or waived, at the option of the Secured Party, (a) any or all of the Obligations not yet payable will become immediately payable, without presentment, protest, notice of protest or notice of dishonour, all of which are expressly waived; (b) the obligation, if any, of the Secured Party to extend further credit to the Debtor will cease; and (c) the security granted hereby will become immediately enforceable.

Consequences of a Default. If a Default occurs we can, if we wish, and subject to applicable law, do any one or more of the following, in any order that we want: Demand Payment – demand that you immediately pay the Outstanding Amount. Xxx You – with court permission, take action in court to make you pay the Outstanding Amount or make you keep your Promises.

Consequences of a Default. (1) On or after the occurrence of any Event of Default that is continuing, at the option of the Collateral Agent, (a) any or all of the Obligations not yet payable will become immediately payable, without presentment, protest, notice of protest or notice of dishonour, all of which are expressly waived and (b) the security granted hereby will become immediately enforceable.

Consequences of a Default. On or after the occurrence of any Event of Default, at the option of the Bank, (i) any or all of the Obligations not yet payable will become immediately payable, without notice; (ii) the obligation, if any, of the Bank to extend further credit to the Debtor will cease; and (iii) the security granted hereby will become immediately enforceable.

Consequences of a Default. If a Default specified in Section 7.01 hereof shall occur and be continuing, the Required Lenders may (a) declare all Obligations due under this Agreement and all interest accrued thereon to be immediately due and payable (provided that, if a Default specified in Section 7.01(f) or (g) of this Agreement shall occur, the Obligations, and all interest accrued thereon shall become and be immediately due and payable, without presentment, protest or other notice of any kind, all of which are hereby waived by the Company, or any consent or direction of the Required Lenders); (b) notify the Trustee in writing that a Default has occurred and is continuing and instruct the Trustee to accelerate the Bonds; pursue all remedies available to them by contract, at law or in equity, and (d) proceed under this Agreement, and under any of the Related Documents and, to the extent therein provided, direct the Trustee to take action under the Indenture, in such order as the Required Lenders may elect, and the Lender shall not have any obligation to proceed against any Person or exhaust any other remedy or remedies which it may have and without resorting to any other security, whether held by or available to the Lender.

Consequences of a Default. (a) Upon the occurrence and continuation of an Event of Default specified in subsection (h) or (i) of Section 8.1 herein, all of the Obligations shall, without demand, notice, or legal process of any kind, be declared, and immediately shall become, due and payable, and the Aggregate Revolving Commitment shall terminate immediately. (b) If any Event of Default specified in any of subsections (a) through (g) and (j) through (q) hereof shall occur and be continuing, the Agent upon the joint direction of the Lenders shall: (i) by notice to the Borrowers, declare the Revolving Credit Commitment of each Lender terminated, and any Obligations payable hereunder or under any other Loan Document shall become due and payable without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived, and an action therefor shall immediately accrue; and/or (ii) by notice to the Borrowers, declare the unpaid principal amount of any Note, interest accrued thereon and all other Obligations owing by any of the Borrowers hereunder or under any other Loan Document to be immediately due and payable without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived, and an action therefor shall immediately accrue.

Consequences of a Default. If an Event of Default occurs OEG at its option may: (a) Enforce performance: by proceeding by appropriate court action, either at law or in equity, enforce performance by the Customer of the applicable terms and provisions of this Agreement or recover damages for the breach concerned; or (b) Termination: terminate this Agreement and the Customer's right to possession of the Equipment by notice in writing to the Customer. Upon service of such notice all rights of the Customer to or in the use of the Equipment will terminate and OEG may, directly or by its agent, take possession of the Equipment. Any damages reasonably occasioned by OEG taking possession are expressly waived by the Customer. OEG will, upon taking possession of the Equipment hold, possess and enjoy the Equipment free from any right of the Customer or its successors or assigns to use the Equipment for any purpose.

Consequences of a Default. (a) If a Default specified in subsections (a) through (e) of Section 7 of this Agreement occurs and continues or exists, WorldCom may demand the principal balance due under the Note, interest accrued on the unpaid principal amount and all other amounts owing by Debtor under this Agreement and the other WorldCom Documents to be immediately due and payable without presentment, demand, protest or further notice of any kind, all of which are expressly waived, and an action for any amounts due shall accrue immediately.

Consequences of a Default a. If a default occurs, all the mortgage money then owing to the mortgagee will be, if the mortgagee chooses, due and payable, including without limitation all of the mortgagee’s fees, costs and expenses. b. If a cheque is returned by the mortgagor’s bank on which a payment to be applied to his mortgage is drawn, the mortgagee has the right to collect from the mortgagor all fees, expenses and costs incurred to compensate the mortgagee for the returned cheque. c. If a default occurs, the mortgagee will have quiet possession of the land. d. If a default occurs, the mortgagee may, in any order that the mortgagee chooses, do any one or more of the following: 1) demand payment of all the mortgage money; 2) sue the mortgagor for the amount of money due; 3) take proceedings and any other legal steps to compel the mortgagor to keep the mortgagor’s promises and agreements contained in this mortgage; 4) enter upon and take possession of the land; 5) sell the land or any part of the land by public auction or private sale, or lease the land on terms decided by the mortgagee: a) on four weeks notice to the mortgagor if the default has continued for 15 days, or b) without notice to the mortgagor if the default has continued for 60 days or more; 6) exercise the rights set out in Section 10, Subsection d. 5) without entering into possession of the land; 7) apply to the court for an order for foreclosure and sale of the land on terms approved by the court; 8) apply to the court to foreclose the mortgagor’s interest in the land so that when the court makes its final order of foreclosure, the mortgagor’s interest in the land will be absolutely vested in and belong to the mortgagee; 9) appoint a receiver of the land; 10) enter upon and take possession of the land without the permission of anyone and make any arrange- ments the mortgagee considers necessary to: a) inspect, lease, collect rents or manage the land, b) complete the construction of any building on the land, or c) repair any building on the land; 11) take whatever action is necessary to take, recover and keep possession of the land. e. Nothing in Section 10, Subsection d. affects the jurisdiction of the court. f. If the land is sold pursuant to the powers of sale contained herein or pursuant to an order for foreclosure and sale, the mortgagee will use the amount received from the sale to pay: 1) any real estate agent’s commission; 2) all adjustments usually made on the sale of land; 3) all of the mortgagee’s fees, ...