DECLARATION OF DEFAULT. Canada may declare a default if:
DECLARATION OF DEFAULT. If the defaulting Party fails to cure the Default pursuant to Section 10.3, or protests the Default Notice pursuant to Section 10.4 but fails to timely pay the disputed payment or commence performance of the disputed obligation, the Reclamation Trust Funds Operating Agent will notify the defaulting Party in writing of the Reclamation Trust Funds Operating Agent’s intent to declare the defaulting Party in Default unless there is a prompt cure of the Default (“Notification of Intent”). The Notification of Intent will afford the defaulting Party a minimum of fifteen (15) additional days after the giving of the Notification of Intent to cure the Default. The pendency of a Protest will not prevent the Reclamation Trust Funds Operating Agent from issuing a Notification of Intent. If the Default has not been cured within the period of time identified in the Notification of Intent, the Reclamation Trust Funds Operating Agent may give written notice to the defaulting Party declaring that the defaulting Party is in Default (the “Default Declaration”). The Reclamation Trust Funds Operating Agent will serve a copy of the Notification of Intent and of the Default Declaration on: (i) the representatives on the Reclamation Oversight Committee; (ii) all persons entitled to receive notices under Section 28.1; and (iii) the Trustee of the defaulting Party’s Reclamation Trust. The pendency of a Protest will not prevent the Reclamation Trust Funds Operating Agent from making a Default Declaration.
DECLARATION OF DEFAULT. (a) Upon anySubject to subparagraph (b) and (c) below, upon Master Xxxxxx’s actual knowledge, or receipt of HUD’s written notice, of a violation of any provision of this Agreement by Master Tenant, Master Tenant shall have thirty (30) days to cure any such violation. (HUD may give written notice thereof to Master Xxxxxx, with a copy of the written notice of any violation by Master Xxxxxx of any provision hereunder to Xxxxxxxx and Xxxxxx. .) Notwithstanding the foregoing,2 Master Tenant shall have thirty (30) days to cure, or cause to be cured, any such violation, provided that HUD shall extend such thirty- (30) day period by such time as HUD may reasonably determine is necessary to correct the violation for so long as, HUD determines, in its discretion, that: (i) Borrower is timely satisfying all payment obligations in the Loan Documents; (ii) none of the Permits or Approvals is at substantial and imminent risk of being terminated; (iii) such violation cannot reasonably be corrected during such thirty (30) day period, but can reasonably be corrected in a timely manner, and (iv) Master Xxxxxx commences to correct such violation during such thirty (30) day period and thereafter diligently and continuously proceeds to correct such violation, or causecauses such corrective action to be commenced and diligently pursued. If upon the expiration of such cure period, the violation is not satisfied to HUD’s satisfaction, HUD may, without further notice, declare an Event of Default.a default3 under this Agreement. Upon declaring an Event of Defaulta default under this Agreement, HUD may:
DECLARATION OF DEFAULT. Once the Event of Default is determined, the Facility Agent shall notify the Borrower in writing, and when the Majority Lenders have reached resolution to collect the debt from the Borrower and delivered such instructions in writing to the Facility Agent, the Facility Agent shall immediately take one or all of the following measures based on the written instructions of the Majority Lenders: (a) notify the Borrower in writing that its Facility Amount shall be immediately suspended; (b) notify the Borrower in writing that all Outstanding Principal Balance, interest, and other payments that the Borrower shall pay to each Lender and the Facility Agent under this Agreement accrued thereon but unpaid are immediately due and payable, and the Borrower shall immediately reimburse all such payments; (c) notify the Lenders to offset the Outstanding Balances owed to the Lenders against any form of deposits placed by the Borrower at the Lenders; (d) exercise the various rights of the Collateral to use the relevant Collateral proceeds to compensate for the payable items pursuant to this Agreement that are still unpaid by the Borrower; (e) make payment request to the Borrower based on the Promissory Notes obtained under the Agreement; (f) exercise any rights under the laws, this Agreement, each Security Documents and other related documents without giving presentment, demand, protest, or any notice if permitted by law; or (g) other measures that the Majority Lenders agree on. The Borrower agrees, to the fullest extent permitted by law, to give up its rights of requesting the Lenders and Facility Agent to give the aforementioned presentment, demand, protest, or any notice, unless it is agreed otherwise under the Agreement. Table of Contents
DECLARATION OF DEFAULT. The Recipient may declare default if:
DECLARATION OF DEFAULT a) Canada may declare a default if: i. one or more of the Events of Default occurs;
DECLARATION OF DEFAULT. 24.1 The failure of the Contractor to supply enough properly skilled workers or material, or to make prompt payment to subcontractors or for materials or labor or to obey laws, ordinances, rules, regulations or orders of public agencies having jurisdiction, or to comply in any way with the Contract, shall be sufficient grounds for the Owner and Owner’s Representative to find the Contractor in substantial default and that sufficient cause exists to terminate the Contract and to withhold payment or any part thereof until the cause or causes giving rise to the default have been eliminated by the Contractor and approved by the Owner and Owner’s Representative. If a finding of default is made, the Contractor and its Surety shall remain responsible for performance of the requirements of the Contract unless and until the Owner terminates the Contract. Upon a finding of default, the Owner and Owner’s Representative shall set a reasonable time within which the Contractor and its surety shall eliminate the cause or causes of default. When the basis for finding of default no longer exists, the Owner shall notify the Contractor and its surety in writing that the default has been corrected and that the Contractor is no longer in default. If the Contractor fails to correct the default within the time allowed, the Owner and Owner’s Representative may terminate the Contract and the employment of the Contractor, without otherwise waiving its rights against the Contractor or its surety.
DECLARATION OF DEFAULT. A condition of default exists under this Agreement when either party to this Agreement fails to abide by or perform according to any one or more of its terms and conditions. A declaration of default of this Agreement shall be made in writing and delivered to the alleged defaulting party by certified mail sent to the address shown in Section 10.2. The letter shall identify the action or inaction constituting the default and reference the portion of the Agreement under which the default occurs. The date of default shall be the date of delivery of notice or the date insurance coverage fails to meet requirements or the date of filing for bankruptcy by Industry, whichever first occurs.
DECLARATION OF DEFAULT. If an Event of Default shall occur the CHA may, at its sole option, declare the Contractor in default by issuing Notice of Default. The Notice of Default shall include (i) an explanation of the circumstances surrounding the Event(s) of Default with reasonable specificity, (ii) what actions, if any, the Contractor must take to cure such Event(s) of Default and (iii) a statement that a reasonable amount of funds may be withheld from the Contractor until such time as the Event of Default is cured. The Notice of Default also shall include an explanation of the methodology for determining the amount of any funds the CHA has determined to withhold from the Contractor during the cure period. Whether to declare the Contractor in default and send a Notice of Default, and what remedies to exercise, are within the sole discretion of the CHA. If the CHA considers it to be in its best interests, it may elect not to issue a Notice of Default or to exercise any available remedy hereunder. Upon receipt of a Notice of Default issued in accordance with this Section for any curable Event of Default, the Contractor shall have thirty (30) calendar days to cure the default (or, if the default cannot reasonably be cured within such thirty (30) day period, then the Contractor shall commence all efforts to cure within a reasonable period agreed upon by the CHA). The parties acknowledge that this provision is solely for the benefit of the CHA and that if the CHA permits the Contractor to continue to provide the Contractor’s Services despite one or more Events of Default, the Contractor shall in no way be relieved of any of its responsibilities, duties or obligations under the Agreement, nor shall the CHA waive or relinquish any of its rights to declare the Contractor in default and send a Notice of Default based on any current, past or future Event of Default or to exercise any of its remedies under the Agreement. Written notification of the default, and any decision by the CHA to terminate the Agreement, shall be final and effective upon the Contractor’s receipt of such notice pursuant to Article 11 and shall not be subject of the provisions of Section 6.01.
DECLARATION OF DEFAULT. Upon a declaration of default, County may sue for damages or take any other action allowed by law and, in the event of a major default, exercise takeover provisions, including, without limitation, termination of this Agreement. These remedies are independent, cumulative and not exclusive. The County shall not however be entitled to sue for damages, other than liquidated damages, if it exercises the “take-over” option. The parties acknowledge that the provision of uninterrupted, high quality ambulance service is a critical function necessary to preserve the safety and welfare of the public. In the event of a major default, the County may elect to terminate this Agreement, take over the franchise and provide the emergency ambulance service described herein. In the event of a takeover, the County shall be entitled to operate ambulance service directly or through an alternative provider. To effectuate transfer, the County shall be entitled to immediate and uncontested access to the entire performance security funds provided for in item F., 3 of this section and the equipment provided for in item F., 2 of this section the County shall use the funds and equipment for the reasonable and necessary provision of ambulance services in Washington County, including take-over costs and the costs of securing an alternate interim or permanent provider. The County shall place the funds in a trust, agency or similar account. In addition to the security, the County shall be entitled to receive as liquidated damages, and not as a penalty, the sum of $5,000 per day until the substitute provider commences, but in no event for more than 150 days. An entity authorized in the interim or emergency basis to provide services shall not be considered a substitute provider. The County shall return any remaining security to Metro West Ambulance, without interest. The County shall make diligent, good faith efforts to promptly secure acceptable substitute providers so as to minimize use of the security and the imposed liquidated damages. Metro West Ambulance acknowledges that it had an opportunity to contest this amount, and concurs with the County that it constitutes a reasonable and genuine attempt to estimate damages and costs which are not readily ascertainable or otherwise recoverable.
