Default by Lender Sample Clauses

Default by Lender a. Pursuant to Paragraph 10(a) of this Agreement, FTA notifies the SBA Servicing Offices of Loans which are past due. SBA contacts the Lender to determine status of the Loans. b. When SBA determines that the Lender has failed for any reason to remit to FTA the payments required pursuant to Paragraph 6 of this Agreement, SBA may purchase the Guaranteed Interest under the provisions of Paragraph 11 of this Agreement, provided however, under no circumstances shall SBA be liable for any amount attributable to any late payment charge. c. If SBA purchases the Guaranteed Interest from Registered Holder because of default by Lender, and if Borrower has not been in uncured default on any payment due under the Note for more than sixty (60) calendar days, SBA shall have the option: (i. to require Lender to purchase the Guaranteed Interest from SBA for an amount equal to the amount paid by SBA to Registered Holder plus accrued interest (at the interest rate provided in the Note) from the date of the SBA purchase to the date of the Lender's repurchase, plus a penalty equal to twenty percent (20%) of the amount paid by SBA, or

Default by Lender. If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.04(f), 2.05(d) or (e), 2.06(b), 2.17(d) or 10.03(c), then the Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Agent for the account of such Lender to satisfy such Lender's obligations under such Sections until all such unsatisfied obligations are fully paid.

Default by Lender. Lender shall be in default hereunder if it fails to loan to Borrower, in a timely manner and in accordance with the provisions of this Article I, those sums requested by Borrower.

Default by Lender. Lessor shall not be in default unless Lessor fails to perform obligations required of Lessor within a reasonable time, but in no event later than thirty (30) days after written notice by Lessor to Lessor and to the holder of any first mortgage or deed of trust covering the Premises whose name and address shall have theretofore been furnished to Lessee in writing, specifying wherein Lessor has failed to perform such obligation; provided, however, that if the nature of Lessor's obligation is such that more than thirty (30) days are required for performance then Lessor shall not be in default if Lessor commences performance within such thirty (30) day period and thereafter diligence prosecutes the same to completion.

Default by Lender. It shall be a default under this Agreement if the Lender breaches any of the covenants or provisions of this Agreement and fails to cure such breach or to commence and diligently pursue such cure within 30 days after receipt of a Notice from the Authority specifying such breach.

Default by Lender. If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.04(d), 2.05(d) or (e), 2.06(b), 2.17(e) or 10.03(c), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), (i) apply any amounts thereafter received by the Administrative Agent for the account of such Lender and for the benefit of the Administrative Agent, the Swingline Lender or the Issuing Bank to satisfy such Lender’s obligations to it under such Section until all such unsatisfied obligations are fully paid and/or (ii) hold any such amounts in a segregated account over which the Administrative Agent shall have exclusive control as cash collateral for, and application to, any future funding obligations of such Lender under any such Section; in the case of each of clauses (i) and (ii) above, in any order as determined by the Administrative Agent in its discretion.

Default by Lender. On and at any time after the occurrence of any of the events below which is continuing the Company may, by notice to the Lender cancel the Facilities whereupon they shall immediately be cancelled and declare that all sums accrued or outstanding from the Lender to the Company be immediately due and payable: 22.15.1 the Lender is unable or admits inability to pay its debts as they fall due, suspends making payments on any of its debts or, by reason of actual or anticipated financial difficulties, commences negotiations with one or more of its creditors with a view to rescheduling any of its indebtedness; 22.15.2 the value of the assets of the Lender is less than its liabilities (taking into account contingent and prospective liabilities); 22.15.3 a moratorium is declared in respect of any indebtedness of the Lender; or 22.15.4 any corporate action, legal proceedings or other procedure or step is taken in relation to: (a) the suspension of payments, a moratorium of any indebtedness, winding-up, dissolution administration or reorganisation (by way of voluntary arrangement, scheme of arrangement or otherwise) of the Lender; (b) a composition, assignment or arrangement with any creditor of the Lender; (c) the appointment of a liquidator, receiver, administrator, administrative receiver, compulsory manager or other similar officer in respect of the Lender or any of its assets; or (d) enforcement of any security over any assets of the Lender.

Default by Lender. Upon Lender's failure to accept the Prepayment ----------------- made in strict accordance with the terms of this Agreement and permit the Partner Transfers in accordance with the terms of this Agreement, Borrower shall have all remedies available at law and in equity, including without limitation, the right to seek specific performance of Lender's obligation to accept the Prepayment, to permit the Partner Transfers of partnership interests in the Borrower hereinabove described in the Recitals, and all other Lender's obligations on its part required to be performed under this Agreement at the Closing.

Default by Lender. If any Lender defaults in its obligation to make Loans or to ----------------- comply with the terms of any LC Guaranty or Letter of Credit executed or issued by it, then, so long as such default exists, such Lender shall not be entitled to exercise any right of consent under Sections 8, 9 or 10 above, so that Agent shall be entitled to take any actions described in such subsections without the consent of such Lender, and such Lender's Pro Rata Share shall not be considered in determining whether the Requisite Lenders have consented to any action requiring consent of the Requisite Lenders hereunder. Nothing herein shall relieve any Lender from any liability for any damages, cost or expenses suffered by the other Lenders or the Agent as a result of such Lender's default.