Cure by IKON of Certain Payment Defaults Sample Clauses

Cure by IKON of Certain Payment Defaults. Within ten (10) Business Days after IKON shall have been notified by GE of its intention to commence litigation against an Obligor in respect of such Obligor’s breach under a Program Financing Contract, Program Facilities Management Agreement or Program Equipment Management Agreement, IKON shall be entitled to purchase from GECITS all of GECITS’ right, title and interest in such Program Financing Contract or the related Program Stream Financing (as applicable), in each case, together with the Equipment related thereto and any Purchased Assets in respect thereof, on an “AS-IS, WHERE-IS” basis, without representation, warranty or recourse of any kind, other than Agreed Warranties, by paying to GECITS an amount equal to (1) with respect to any Program Stream Financing, the Net Book Value thereof as of the date of such purchase, or (2) with respect to any Program Financing Contract, the greater of (x) the Net Book Value of such Program Financing Contract as of the date of such purchase and (y) the Securitization Purchase Price in respect thereof (if any) as of the date of such purchase.
Sample 1
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Cure by IKON of Certain Payment Defaults. Within ten (10) Business Days after IKON shall have been notified by GE of its intention to commence litigation against an Obligor in respect of such Obligor’s breach under a Program Financing Contract, IKON would be entitled to purchase from GE all of GE’s right, title and interest in such Program Financing Contract and related Equipment on an “AS-IS, WHERE-IS” basis, without representation, warranty or recourse of any kind, other than Agreed Warranties, by paying to GE the Net Book Value of such Program Financing Contract.
Sample 1

Related to Cure by IKON of Certain Payment Defaults

  • Application of Certain Payments Each payment of principal shall be applied to such Loans as the Company shall direct by notice to be received by the Agent on or before the date of such payment or, in the absence of such notice, as the Agent shall determine in its discretion. Concurrently with each remittance to any Bank of its share of any such payment, the Agent shall advise such Bank as to the application of such payment.

  • Absence of Certain Payments To its knowledge, neither the Parent nor any of its respective affiliates, officers, directors, employees or agents or other people acting on behalf of any of them have (i) engaged in any activity prohibited by the United States Foreign Corrupt Practices Act of 1977, or any other similar law, regulation, decree, directive or order of any other country and (ii) without limiting the generality of the preceding clause (i), used any corporate or other funds for unlawful contributions, payments, gifts or entertainment, or made any unlawful expenditures relating to political activity to government officials or others. To its knowledge, neither the Parent nor any of its respective affiliates, directors, officers, employees or agents of other persons acting on behalf of any of them, has accepted or received any unlawful contributions, payments, gifts or expenditures.

  • Restrictions on Payment of Certain Debt Make any payments (whether voluntary or mandatory, or a prepayment, redemption, retirement, defeasance or acquisition) with respect to any:

  • RELEASE FROM GUARANTEES; REPAYMENT OF CERTAIN OBLIGATIONS TCI shall use reasonable efforts, including offering its own guarantee, to have the Stockholders released from any and all guarantees of the Company's indebtedness identified on Schedule 10.1. In the event that TCI cannot obtain such releases from the lenders of any such guaranteed indebtedness identified on Schedule 10.1 on or prior to 60 days subsequent to the Funding and Consummation Date, TCI shall promptly pay off or otherwise refinance or retire such indebtedness. TCI shall indemnify the Stockholders against, and shall promptly reimburse the Stockholders for, any amounts which the Stockholders are obligated to pay under any such guarantees listed on Schedule 10.1, and shall be subrogated to any rights of the Stockholders accruing as a result of any such payments by the Stockholders.

  • Suspension of Certain Obligations The Company shall not be required to comply with the provisions of subsections (f), (g) or (h) of this Section 4 during any period from the time (i) the Agents shall have suspended solicitation of offers for the purchase of Notes in their capacity as agents pursuant to a request from the Company and (ii) no Agent shall then hold any Notes purchased from the Company as principal, as the case may be, until the time the Company shall determine that solicitation of offers for the purchase of Notes should be resumed or an Agent shall subsequently purchase Notes from the Company as principal.

  • Notification of Certain Events Prior to the expiration of this Warrant pursuant to Section 8, in the event that the Company shall authorize:

  • Assumption of Certain Obligations Buyer shall assume only those liabilities related to the Business or Assets which are referred to in Section 2.2(a) or are otherwise expressly assumed in this Agreement (the "Assumed Liabilities").

  • Default in Performance of Certain Covenants Any Borrower or any other Credit Party shall default in the performance or observance of any covenant or agreement contained in Sections 7.1, 7.2 or 7.4(a)(i)(A) or Articles IX or X.

  • Absence of Certain Events No Event of Default or Potential Event of Default or, to its knowledge, Termination Event with respect to it has occurred and is continuing and no such event or circumstance would occur as a result of its entering into or performing its obligations under this Agreement or any Credit Support Document to which it is a party.

  • Termination of Certain Rights Any termination of this Lease pursuant to this Article 13 shall cause any right of the Lessee to extend the Term of this Lease, granted to the Lessee herein and any right of the Lessee to purchase the Leased Property contained in this Lease to be terminated and to be without further force or effect.

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