Consequences upon Event of Default Sample Clauses

Consequences upon Event of Default. Upon the occurrence of an Event of Default, and at any time thereafter, if any such Event of Default shall be continuing, AHFL may: (a) (b) (c) (d) (e) (f) (g)
Sample 1Sample 2
AutoNDA by SimpleDocs
Consequences upon Event of Default. Upon the occurrence of an Event of Default, the Principal Amount then outstanding plus all accrued and unpaid Interest shall be immediately due and payable and will be satisfied by the Borrower’s deemed issuance to AdvEn Industries Inc. (AdvEn) of an irrevocable notice to cause a certain number of the 3,699,000 common shares held by the Borrower in the authorized capital of AdvEn (the AdvEn Shares) to be transferred back into the name of the Creditor effective as of the Maturity Date determined in accordance with the following formula: A = B – (C/D) Whereby:
Sample 1Sample 2
Consequences upon Event of Default. 15.1 Upon the occurrence of any event of default and any time thereafter, the LENDERs shall, with or without notice, to the BORROWER be entitled to declare all sums due and to become due hereunder for the full term of the agreement as immediately due and payable including that the BORROWER shall be liable to pay to the LENDER pre- payment interest calculated as the percentage (as per the SCHEDULE-III) of the balance principal outstanding along with other dues including unpaid installments, taxes, penal charges, etc. due as on date of such declaration and upon the BORROWER failing to make the said payment in full immediately, the LENDER may, at its sole discretion, do any one or more of the following shall be entitled to the following remedies: i) Upon notice to the BORROWER terminate this Agreement : and/or ii) Upon Notice, demand that the BORROWER return the Product to the LENDER at the risk and expense of the BORROWER, in the same condition as was delivered to it (ordinary wear and tear excepted) at such location as the LENDER may designate. Upon failure of the BORROWER to deliver the product as stated above within the period of demand, the LENDER, its agents, constituted attorney and/or any other person appointed by the law for such purpose may in accordance with the law shall take immediate possession of the Product and remove the same without liability to the LENDER or its agents or such entry or for damage to property or otherwise. Upon such return of the Product or upon the LENDER taking possession of the Product as herein before stated the Loan herein granted by the LENDER to the BORROWER shall stand cancelled and provided however the remedies available to the LENDER as herein given shall survive such cancellation of the Loan and the LENDER shall been titled and authorised to exercise its right herein including in connection with the Product to recover its dues under this agreement. Notwithstanding as stated above the BORROWER waives the requirement of prior notice in the eventuality of establishing the cases of extreme exigency; and/or iii) On such terms and conditions and for realizable consideration which the LENDER may receive and with prior notice providing final opportunity to make the outstanding amount to the BORROWER, sell the Product at a public or private sale, otherwise dispose off, hold, upon such terms, the Product or use, operate, lease to others or keep idle give on hire such Product, all free and clear of any rights to the BORROWER...
Sample 1
Consequences upon Event of Default. Upon an Event of Default, any obligation of Lender to make advances under this Note shall terminate, and at Lender’s option, exercisable in its sole discretion, all sums of principal, interest, and amounts due under this Note shall become immediately due and payable without notice of default, presentment or demand for payment, protest or notice of nonpayment or dishonor, or other notices or demands of any kind or character. An Even of Default hereunder shall constitute an Event of Default under the Loan Documents.
Sample 1

Related to Consequences upon Event of Default

  • Rights Upon Event of Default (a) As long as an Event of Default under this Agreement remains unremedied, Holders of not less than 50% of the outstanding Class Principal Balance of the Original Notes (in each case the outstanding Class Principal Balance of the Original Notes will be determined without regard to any exchanges of Class M Notes for MAC Notes) to which such Event of Default relates may, by written notice to Freddie Mac, declare such Notes due and payable and accelerate the maturity of such Notes. In the event that Class M Notes have been exchanged for MAC Notes, Holders of such MAC Notes will be entitled to exercise all the voting or direction rights that are allocated to such exchanged Class M Notes as described herein. Upon such acceleration, the Class Principal Balance of such Notes and the interest accrued thereon shall be due and payable.

  • Remedies Upon Event of Default If any Event of Default occurs and is continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any or all of the following actions:

  • Remedies Upon an Event of Default If an Event of Default shall have occurred and shall be continuing, the Holder of this Note may at any time at its option (a) declare the entire unpaid principal balance of this Note, together with all interest accrued hereon, due and payable, and thereupon, the same shall be accelerated and so due and payable, without presentment, demand, protest, or notice, all of which are hereby expressly unconditionally and irrevocably waived by the Maker; provided, however, that upon the occurrence of an Event of Default described in (i) Sections 2.1 (l), (m) or (n), the outstanding principal balance and accrued interest hereunder shall be automatically due and payable and (ii) Sections 2.1 (c)-(k), demand the prepayment of this Note pursuant to Section 3.7 hereof, (b) demand that the principal amount of this Note then outstanding and all accrued and unpaid interest thereon shall be converted into shares of Common Stock at a conversion price per share calculated pursuant to Section 3.1 hereof assuming that the date that the Event of Default occurs is the Conversion Date (as defined in Section 3.1 hereof), or (c) exercise or otherwise enforce any one or more of the Holder's rights, powers, privileges, remedies and interests under this Note, the Purchase Agreement, the Registration Rights Agreement or applicable law. No course of delay on the part of the Holder shall operate as a waiver thereof or otherwise prejudice the right of the Holder. No remedy conferred hereby shall be exclusive of any other remedy referred to herein or now or hereafter available at law, in equity, by statute or otherwise.

  • Consequences of an Event of Default (a) If an Event of Default specified in subsections (a) through (l), (o), (p) or (q) of Section 7.01 shall occur and, be continuing or shall exist, then, in addition to all other rights and remedies which the Administrative Agent or any Lender may have hereunder or under any other Loan Document, at law, in equity or otherwise, the Lenders shall be under no further obligation to make Loans hereunder, and the Administrative Agent may, and, upon the written request of the Required Lenders shall, by notice to the Borrower, from time to time do any or all of the following:

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