Default by the Lender Sample Clauses

Default by the Lender. The occurrence of any one or more of the following events or conditions shall constitute an (“Event(s) of Default”) by the Lender under this Guarantee Agreement, unless a written waiver of the default is signed by the Department: (a) Any representation or warranty made by the Lender under this Guarantee Agreement or any of the Loan Documents is incorrect in any material respect; (b) Any material breach by the Lender of any duty or obligation of the Lender under this Guarantee Agreement which is not cured by the Lender to the satisfaction of the Department within thirty (30) calendar days after written notice thereof by the Department to the Lender; (c) The appointment of a receiver or custodian over a material portion of the Lender’s assets, which receiver or custodian is not discharged within sixty (60) calendar days of such appointment; or (d) Any voluntary bankruptcy or insolvency proceedings are commenced by the Lender; or any involuntary bankruptcy or insolvency proceedings are commenced against the Lender, which proceedings are not set aside within sixty (60) calendar days from the date of institution thereof. Upon the occurrence of any one or more of an Event(s) of Default by the Lender under this Guarantee Agreement, in addition to all rights and remedies created by this Guarantee Agreement, the Department shall be entitled to pursue and enforce all rights and remedies available, legal and equitable, including without limitation, the right of recoupment of all or any portion of the Guarantee amount which the Department has determined, in its sole discretion, was not used in accordance with the requirements of this Guarantee Agreement, and the right to require the Lender’s books and records related to the Loan, Loan documents and this Guarantee Agreement to be separately audited by an independent certified public accountant selected by the Department, at the Department’s sole cost and expense. Provided however, in the event the audit reveals a breach of this Guarantee Agreement or the Loan documents has occurred, the Lender shall reimburse the Department for the fees and expenses incurred to perform the audit. No remedy is intended to be the sole and exclusive remedy in case any Event(s) of Default by the Lender under this Guarantee Agreement shall occur and each remedy shall be cumulative and in addition to every other provision or remedy now or later existing at law, in equity, by statute or otherwise. All remedies shall be cumulative. The Lender ...
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Default by the Lender. The occurrence of any one or more of the following events or conditions shall constitute an Event of Default by the Lender under this Enhancement Agreement, unless a written waiver of the default is signed by Development: (a) Any representation or warranty made by the Lender under this Enhancement Agreement or any of the Loan Documents is incorrect in any material respect; (b) Any material breach by the Lender of any duty or obligation of the Lender, including but not limited to the failure to file required reports, under this Enhancement Agreement which is not cured by the Lender to the satisfaction of Development within thirty(30) calendar days after written notice thereof by Development to the Lender; (c) The appointment of a receiver or custodian over a material portion of the Lender’s assets, which receiver or custodian is not discharged within sixty (60) calendar days of such appointment; or (d) Any voluntary bankruptcy or insolvency proceedings are commenced by the Lender; or any involuntary bankruptcy or insolvency proceedings are commenced against the Lender, which proceedings are not set aside within sixty (60) calendar days from the date of institution thereof.
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Default by the Lender. Where the Lender fails to return the collaterals by the due date according to the agreement, or is in violation of the representations or warranties, it shall be deemed to be in default. In the event of default by the Lender, the related securities lending and borrowing shall be deemed to be due, and the Borrower may complete the negotiated borrowing transaction by ______________ (the agreed manner), recover the deficiency in payment from the Lender, collect a default penalty equivalent to _______, and at the same time claim for damages.
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Default by the Lender. The occurrence of any one or more of the following events or conditions shall constitute an event of default by the Lender under this Agreement (which defaults may be determined by GHFA EDFI acting in its sole discretion): any representation, warranty, certification, assurance or any other statement of fact contained in this Agreement, or any representation or warranty set forth in any document, report, certificate, financial statement or instrument now or hereafter delivered to GHFA EDFI in connection with this Agreement, is found to be knowingly inaccurate, false, incomplete or misleading when made, in any material respect; any breach by Lender whereby the Lender materially fails to observe, comply with, meet or perform any term, covenant, agreement or other provision contained in this Agreement including, but not limited to, the failure to submit complete and timely reports, or the Lender ceases to use the SSBCI Funds to undertake the activities authorized in this Agreement, or the Lender fails an annual performance and compliance review performed by GHFA EDFI; any other material breach by the Lender of any duty or obligation of the Lender under this Agreement, including, without limitation, the failure to reasonably pursue all legal action against a Borrower related to a loan in the Loan Participation Program; the appointment of a receiver or custodian over a material portion of the Lender's assets, which receiver or custodian is not discharged within sixty (60) days following its appointment; any voluntary bankruptcy or insolvency proceedings are commenced by the Lender; or any involuntary bankruptcy or insolvency proceedings are commenced against the Lender, which proceedings are not set aside within sixty (60) calendar days from the date of institution thereof.
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Default by the Lender. The occurrence of any one or more of the following events or conditions shall constitute an Event(s) of Default by the Lender under this Agreement, unless a written waiver, or similar action is signed the MSF Fund Manager, and then only to the extent, and for the time period specifically stated, in such written waiver, or similar action: (a) any representation or warranty made by the Lender to the MSF or the MEDC in this Agreement is incorrect in any material respect; (b) any information submitted at any time to the Project Manager, the MEDC, or the MSF under this Agreement in support of any Enrolled Loan, Authorized Claim, within any Loan Enrollment Form, or Authorized Claim Form, or for any other purpose under this Agreement, is incorrect in any material respect; (c) any material breach by the Lender of any obligation of the Lender under this Agreement, which breach, if deemed curable in the discretion of the MSF Fund Manager, is not cured to the satisfaction of the MSF Fund Manager, within twenty-five (25) business days after written notice thereof by the MSF Fund Manager, or within such longer period of time as determined in writing by the MSF Fund Manager; (d) the Lender is in default, violation, breach, or non-compliance under any Credit Facility Documents or any End Loan Documents, and Lender remains in default thereunder after the expiration of any applicable cure period; (e) the Lender is in default, violation, breach, or non-compliance, of any kind or nature under any agreement or requirement, including submission of reports, with the MEDC, or any department or agency with the State, which is not cured to the satisfaction of the MSF Fund Manager, within twenty-five (25) business days after written notice thereof by the MSF Fund Manager, or within such longer period of time as determined in writing by the MSF Fund Manager; (f) the appointment of a receiver or custodian over a material portion of the Lender’s assets, which receiver or custodian is not discharged within sixty (60) calendar days of such appointment; or (g) any voluntary bankruptcy or insolvency proceedings are commenced by the Xxxxxx; or any involuntary bankruptcy or insolvency proceedings are commenced against the Lender, which proceedings are not set aside within sixty (60) calendar days from the date of institution thereof.
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Default by the Lender. The occurrence of any one or more of the following events or conditions shall constitute an Event of Default by the Lender under this Deposit Agreement, unless a written waiver of the default is signed by Development: Any representation or warranty made by the Lender under this Deposit Agreement or any of the Loan documents is incorrect in any material respect; Any material breach by the Lender of any duty or obligation of the Lender under this Deposit Agreement which is not cured by the Lender to the reasonable satisfaction of Development within thirty (30) calendar. The appointment of a receiver or custodian over a material portion of the Lender’s assets, which receiver or custodian is not discharged within sixty (60) calendar days of such appointment; or Any voluntary bankruptcy or insolvency proceedings are commenced by the Lender; or any involuntary bankruptcy or insolvency proceedings are commenced against the Lender, which proceedings are not set aside within sixty (60) calendar days from the date of institution thereof.
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Default by the Lender. If the Lender defaults in any of its obligations to Cornell and as a result thereof the 48,500,000 shares of Technoprises or any portion thereof are not returned (hereinafter referred to as the "Sold Shares"), the Lender shall reimburse the Borrower for the value of the Sold Shares. At the discretion of the Borrower, the value of the Sold Shares shall be paid to it in cash, which can be done by offsetting any amounts owed to the Lender hereunder, or by the issuance of shares of the Lender, which shall be valued as of the daily volume weighted average selling price for the 5 days prior to issuance thereof.
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Default by the Lender. In respect of a Term Borrowing after the Effective Date and so long as (a) the Borrower has fully satisfied the conditions set forth in Section 4.02 and (b) the Borrower and the Guarantors have satisfied all their respective obligations pursuant to this Agreement, any failure by the Lender to make a Term Borrowing as provided by Section 2.01(c) shall be deemed a material default of this Agreement by the Lender.
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Default by the Lender. The occurrence of any one or more of the following events or conditions shall constitute an Event of Default by the Lender under this Enhancement Agreement, unless a written waiver of the default is signed by Development: Any representation or warranty made by the Lender under this Enhancement Agreement or any of the Loan documents is incorrect in any material respect; Any material breach by the Lender of any duty or obligation of the Lender, including but not limited to the failure to file required reports, under this Enhancement Agreement which is not cured by the Lender to the reasonable satisfaction of Development within thirty (30) calendar days. The appointment of a receiver or custodian over a material portion of the Lender’s assets, which receiver or custodian is not discharged within sixty (60) calendar days of such appointment; or Any voluntary bankruptcy or insolvency proceedings are commenced by the Lender; or any involuntary bankruptcy or insolvency proceedings are commenced against the Lender, which proceedings are not set aside within sixty (60) calendar days from the date of institution thereof.
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Related to Default by the Lender

  • Default by the Company If the Company shall fail at Closing Time or at the Date of Delivery to sell the number of Securities that it is obligated to sell hereunder, then this Agreement shall terminate without any liability on the part of any nondefaulting party; provided, however, that the provisions of Sections 1, 4, 6, 7 and 8 shall remain in full force and effect. No action taken pursuant to this Section shall relieve the Company from liability, if any, in respect of such default.

  • Default by Owner If one or more of the following Events of Default shall occur and be continuing, that is to say: (a) breach by Owner of the representations, warranties and covenants of the Owner as set forth in Section 6.02 above); then, and in each and every such case (except in instances where the Event of Default has been cured within thirty (30) days after the date on which written notice of such default, requiring the same to be remedied, shall have been given to the Owner by the Servicer), the Servicer, by notice in writing to the Owner, may immediately terminate all of its responsibilities, duties and obligations as servicer under this Agreement. On or after the receipt by the Owner of such written notice, all responsibilities, duties and obligations of the Servicer to service the Mortgage Loans under this Agreement shall on the date set forth in such notice pass to and be vested in the successor appointed pursuant to Section 10 herein.

  • Default by Seller If the sale contemplated hereby is not consummated because of a default by Seller in its obligation to sell the Property in accordance with this Agreement after Purchaser has performed or tendered performance of all of its obligations in accordance with this Agreement, then Purchaser, as its sole and exclusive remedy shall elect either (a) to terminate this Agreement, in which event all other rights and obligations of the Seller and the Purchaser hereunder (except those set forth herein which expressly survive a termination of this Agreement) shall terminate immediately; or (b) to waive such matter or condition and proceed to Closing, with no reduction in the Purchase Price. In the event of such termination, the Exxxxxx Money shall be refunded by the Escrow Agent to the Purchaser and Seller shall pay Purchaser’s Transaction Costs up to the amount of the Purchaser’s Transaction Costs Cap. Notwithstanding the preceding sentence, if, at Closing, the Seller fails to comply in any material respect with any of its obligations contained in Section 6.2 or Section 6.4 (the “Closing Obligations”), and if all conditions precedent to the Seller’s obligations hereunder have been satisfied and the Purchaser has fully performed all of its obligations under the Agreement, the Purchaser shall have, in addition to the Purchaser’s remedies contained in the preceding sentence, the option to waive all other actions, rights, or claims for damages for such failure, other than costs and expenses incurred in enforcing this Agreement, and to bring an equitable action to enforce the Closing Obligations by specific performance; provided, (a) the Purchaser shall provide written notice of the Purchaser’s intention to enforce the Closing Obligations by specific performance, and (b) the Purchaser’s suit for specific performance shall be filed against the Seller in a court having jurisdiction in the county and state in which the Property is located, on or before sixty (60) days following the Closing Date, failing which, the Purchaser shall be barred from enforcing the Closing Obligations by specific performance and shall be deemed to have elected to terminate this Agreement as provided herein.

  • Default by Borrower Upon the occurrence of any event of default under the Loan, Administrative Agent may accelerate payment under the Loan and/or under any note or notes evidencing the Loan, and shall institute such legal proceedings and take such other actions (“Enforcement Actions”) as are in its opinion necessary and appropriate to collect the Debt then due under the Loan, to enforce the security therefor, and to protect and preserve the respective rights and interests of Lender and the Participants. If Lender and Participants are unable to recover from Borrower the entire amount of fees, costs and expenses of all Enforcement Actions, then each Participant shall contribute to such portion as is not recovered from Borrower, ratably in accordance with its Participant Share.

  • Default by Tenant 14.1 The following shall be deemed a default by Tenant under the terms of the Lease (“Event of Default”): a. The failure by Tenant to pay any rent or other sum of money due hereunder within ten (10) days after written notice from Landlord that such payment has not been made; b. The failure by Tenant to perform any other of the terms, conditions or covenants of this Lease to be observed or performed by Tenant for more than thirty (30) days after written notice from Landlord of such default, unless such default is of a nature that it cannot practicably be cured within a thirty (30) day period and Tenant is proceeding with due diligence to cure such default; c. The making by Tenant of an assignment for the benefit of creditors; d. The filing of a petition by or against Tenant for adjudication as a bankrupt under the Bankruptcy Act, as now or hereafter amended or supplemented, or for reorganization within the meaning of Chapter XI of the Bankruptcy Act, or the commencement of any action or proceeding for the dissolution or liquidation of Tenant, whether instituted by or against Tenant, or for the appointment of a receiver or trustee of the property of Tenant, provided that no such filing or proceeding instituted by a third party shall be regarded as a default hereunder if Tenant shall promptly move to have the same dismissed, rescinded or rendered inoperative and Tenant prosecutes such action with due diligence and continues to perform and discharge all of the covenants and obligations on its part to be performed or discharged under this Lease during the pendency of such proceedings. 14.2 Upon the occurrence of an Event of Default, Landlord shall have the immediate right of re-entry and possession of the Leased Premises, which right shall remain continuous until such time as Tenant shall have cured such Event of Default. Notwithstanding such re-entry and possession of the Leased Premises by Landlord, Tenant shall remain liable for the rent and other sums payable hereunder whether or not the Leased Premises are relet by Landlord an for all expenses which Landlord may incur in re-entering the Leased Premises and repairing and maintaining the same less such proceeds, if any, which may result from the reletting of the Leased Premises. 14.3 Additionally, upon the occurrence of any Event of Default, Landlord shall have the right to terminate this Lease by written notice of such intention to Tenant. In the event Landlord elects to terminate this Lease, Tenant’s liability for rent and other sums payable hereunder and to perform any other term, condition, covenant or agreement on its part to be performed under this Lease shall cease and terminate as to any period subsequent to the date on which Landlord delivers to Tenant written notice of such termination. Tenant shall remain liable, however, for all rent and the performance of all terms conditions and agreements relating to matters prior to the date of such termination. 14.4 Additionally, the parties agree that any default by the co-tenant, SenCer, Inc. can be treated by Landlord as a default by Tenant as though it was Tenant’s own default. Tenant will be given the opportunity to cure such default under the terms of this Agreement. Failure of Tenant to successfully cure said default shall give Landlord the right to implement any remedy authorized under the terms of this agreement.

  • Default by Developer Developer shall be in default under this Agreement (a) Developer fails to make any of the payments of money required by the terms of this Agreement, and Developer fails to cure or remedy the same within ten (10) days after the City has given Developer written notice specifying such default; or (b) Developer fails to keep or perform any covenant or obligation herein contained on Developer's part to be kept or performed, and Developer fails to remedy the same within thirty (30) days after the City has given Developer written notice specifying such failure and requesting that it be remedied; provided, however, that if any event of default shall be such that it cannot be corrected within such period, it shall not constitute an event of default if corrective action is instituted by Developer within such period and diligently pursued until the default is corrected; or (c) Without limiting the generality of the foregoing, Developer shall assign or transfer the Project and/or this Agreement in violation of the terms and conditions set forth in Article V; or (d) Developer shall file a voluntary petition under any bankruptcy law or an involuntary petition under any bankruptcy law is filed against any such party in a court having jurisdiction and said petition is not dismissed within thirty (30) days or Developer, makes an assignment for the benefit of its creditors; or a custodian, trustee or receiver is appointed or retained to take charge of and manage any substantial part of the assets of Developer and such appointment is not dismissed within sixty (60) days; or any execution or attachment shall issue against Developer whereupon the District, or any part thereof, or any interest therein of Developer under this Agreement shall be taken and the same is not released prior to judicial sale thereunder (each of the events described in this subsection being deemed a default under the provisions of this Agreement); or (e) Developer breaches the representations and warranties set forth in this Agreement and fails to cure or correct same within thirty (30) days of notice from the City.

  • Default by Purchaser IF PURCHASER FAILS TO CONSUMMATE THIS AGREEMENT FOR ANY REASON OTHER THAN SELLER’S DEFAULT OR THE PERMITTED TERMINATION OF THIS AGREEMENT BY EITHER SELLER OR PURCHASER AS PROVIDED FOR IN THIS AGREEMENT, SELLER WILL BE ENTITLED, AS ITS SOLE REMEDY, TO TERMINATE THIS AGREEMENT AND RECEIVE THE DEPOSIT AS LIQUIDATED DAMAGES FOR THE BREACH OF THIS AGREEMENT. IT IS AGREED BETWEEN SELLER AND PURCHASER THAT THE ACTUAL DAMAGES TO SELLER IN THE EVENT OF SUCH BREACH ARE IMPRACTICAL TO ASCERTAIN, AND THE AMOUNT OF THE DEPOSIT IS A REASONABLE ESTIMATE THEREOF. NOTWITHSTANDING THE FOREGOING, SELLER SHALL RETAIN ALL ITS RIGHTS PURSUANT TO THIS AGREEMENT, AT LAW, OR IN EQUITY, AND NOTHING CONTAINED IN THIS SECTION 12.1, WILL LIMIT THE LIABILITY OF PURCHASER UNDER (I) ANY INDEMNITY PROVIDED BY PURCHASER UNDER THIS AGREEMENT; (II) ANY OF THE DOCUMENTS AND INSTRUMENTS EXECUTED AND DELIVERED TO SELLER PURSUANT TO THE TERMS AND CONDITIONS OF THIS AGREEMENT, OR (III) ANY ACTIONS COMMENCED AFTER CLOSING WITH RESPECT TO ANY OBLIGATION OR REPRESENTATION OF EITHER SELLER OR PURCHASER, WHICH BY THE TERMS OF THIS AGREEMENT SURVIVES CLOSING, INCLUDING BUT NOT LIMITED TO, PROVISIONS REGARDING CONFIDENTIALITY AND PAYMENT OF BROKERAGE FEES.

  • Default; Breach A “Default” is defined as a failure by the Lessee to comply with or perform any of the terms, covenants, conditions or Rules and Regulations under this Lease. A “Breach” is defined as the occurrence of one or more of the following Defaults, and the failure of Lessee to cure such Default within any applicable grace period:

  • Default by Buyer THE PARTIES HAVE AGREED THAT SELLER’S ACTUAL DAMAGES IN THE EVENT OF A FAILURE TO CONSUMMATE THE SALE DUE TO BUYER’S DEFAULT WOULD BE EXTREMELY DIFFICULT OR IMPRACTICABLE TO DETERMINE. AFTER NEGOTIATION, THE PARTIES HAVE AGREED THAT, CONSIDERING ALL THE CIRCUMSTANCES EXISTING ON THE DATE OF THIS AGREEMENT, THE AMOUNT OF THE XXXXXXX MONEY IS A REASONABLE ESTIMATE OF THE DAMAGES THAT SELLER WOULD INCUR IN THE EVENT OF BUYER’S DEFAULT. IN THE EVENT BUYER FAILS, WITHOUT LEGAL EXCUSE, TO COMPLETE THE PURCHASE OF THE PROPERTY, THE XXXXXXX MONEY MADE BY BUYER SHALL BE FORFEITED TO SELLER AS LIQUIDATED DAMAGES AND THE SOLE AND EXCLUSIVE REMEDY AVAILABLE TO SELLER FOR SUCH FAILURE. BY PLACING THEIR INITIALS BELOW, EACH PARTY SPECIFICALLY CONFIRMS THE ACCURACY OF THE STATEMENTS MADE ABOVE AND THE FACT THAT EACH PARTY WAS REPRESENTED BY COUNSEL WHO EXPLAINED, AT THE TIME THIS AGREEMENT WAS MADE, THE CONSEQUENCES OF THIS LIQUIDATED DAMAGES PROVISION. THIS SECTION 8.1 IS NOT INTENDED TO LIMIT SELLER’S RIGHTS UNDER SECTIONS 2.2, 2.3 AND 10.2 OF THIS AGREEMENT.

  • Default by Contractor To the maximum extent permitted by applicable law, failure to comply with any of the terms and/or conditions of this Contract, including these General Conditions, shall constitute default by Contractor and grounds for termination of this Contract. Contractor shall be liable for any and all damages suffered by District due to the failure by Contractor or Contractor’s subcontractor(s) to comply with this Contract.

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