Default Conditions. As soon as possible, and in any event within five (5) days after the occurrence of any Lease Default, or any event or circumstance which, with the giving of notice or the passage of time, or both, could constitute a Lease Default, a written statement of the Lessee setting forth the details of such Lease Default, event or circumstance and the action which the Lessee proposes to take with respect thereto.
Default Conditions. As soon as possible, and in any event within five (5) Business Days after the occurrence of any Lease Default, or any event or circumstance which, with the giving of notice or the passage of time, or both, could constitute a Lease Default, a written statement of the Lessee setting forth the details of such Lease Default, event or circumstance and the action which the Lessee proposes to take with respect thereto.
Default Conditions. Any of the following events shall be considered a Default Condition:
(a) Borrower suffers a material adverse change in its financial condition; and
(b) Any event occurs which with the passage of time or giving of notice would become an Event of Default hereunder or an Event of Default under any Guaranty. Upon the occurrence of a Default Condition or at any time thereafter until such Default Condition no longer exists, the Borrower agrees that the Agent and the Lenders, in Agent's sole discretion, and without notice to Borrower, may immediately cease making any Advances under the Loan Documents, all without liability whatsoever to Borrower or any other Person whomsoever, all of which is expressly waived hereby. Borrower releases Agent and each of the Lenders from any and all liability whatsoever, whether direct, indirect, or consequential, and whether seen or unforeseen, resulting from or arising out of or in connection with Agent's and/or Lenders' determination to cease making Advances pursuant to this Section, unless Agent and/or Lenders act with gross negligence or willful misconduct.
Default Conditions. If the Supplier: (i) breaches any provision of the Agreement; (ii), becomes insolvent, enters voluntary or involuntary bankruptcy, or receivership proceedings, or makes an assignment for the benefit of creditors; or (iii) is in violation of any state or federal law (collectively, “event(s) of default”), HISD will have the right, without limiting any other rights or remedies that it may have in the Agreement or by law, to terminate the Agreement with ten (10) days prior written notice to the Supplier. HISD will then be relieved of all obligations, except to pay the reasonable value of the Supplier’s prior performance up to the date of termination, satisfactory to HISD, at a cost not exceeding the agreement rate and subject to any claims, costs and expenses incurred by HISD as a result of Supplier default. In the event of default, HISD is expressly authorized to obtain the goods or services that would have been provided by Supplier under this Agreement from an alternative source. The Supplier will be liable to HISD for all costs exceeding the Agreement price that HISD incurs in completing or procuring the services and goods as provided for in the Agreement. HISD’s right to require strict performance of any obligation in the Agreement will not be affected by any previous waiver, forbearance, or course of dealing.
Default Conditions. Any of the following events shall be considered a Default Condition:
(a) The Borrower suffers a material adverse change in its financial condition, which adverse change would be reflected in Borrower's consolidated Financial Statements under GAAP; and
(b) Should any event occur that except for the giving of notice and/or the passage of time would be an Event of Default. Upon the occurrence of a Default Condition or at any time thereafter until such Default Condition no longer exists, the Borrower agrees that the Lenders, in their sole discretion, and without notice to Borrower, may immediately cease making any Advances, all without liability whatsoever to Borrower or any other Person whomsoever, all of which is expressly waived hereby. Borrower releases the Lenders and the Agent from any and all liability whatsoever, whether direct, indirect, or consequential, and whether seen or unforeseen, resulting from or arising out of or in connection with Lenders' determination to cease making Advances pursuant to this Section.
Default Conditions. In case of default by the contractor, the Charter Township of Chesterfield may procure the articles or services from other sources and hold the bidder responsible for any excess cost occasioned thereby. In case of error by the bidder relating to a Contract, the Township may, by discretion upon presentation of a written explanation by the bidder substantiating the error, reject the Contract and award to the next qualified bidder. Such error may be subject to default conditions.
Default Conditions. Each of the following events constitutes a default and breach of this Lease by Tenant:
(a) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease where such failure continues for five (5) days after written notice from Landlord to Tenant of such failure to perform (the notice period respecting the existence of a default shall not modify the obligation to pay a late charge provided for below);
(b) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 10 Days after written notice from Landlord to Tenant of such failure to perform with respect to the payment of money or 30 Days after written notice from Landlord to Tenant of such failure to perform with respect to failures to perform of a non monetary nature;
(c) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises which is not stayed within 90 days after the date upon which it is filed;
(d) a general assignment for the benefit of Tenant's creditors or an arrangement, composition, extension or adjustment with Tenant's creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property which remains under such control 90 days following the date of the assumption of control. If a non monetary default occurs which Tenant cannot reasonably cure within the above time period but Tenant commences corrective action within that period and prosecutes the corrective action diligently and continuously to completion, Tenant's rights under the lease shall remain in good standing and Tenant shall be subject to no further monetary penalty for such default.
Default Conditions. As soon as possible, and in any event within five (5) days after the occurrence of any Lease Default, or any event or circumstance which, with the
Default Conditions. Any of the following events shall be considered a Default Condition:
(a) The Consolidated Entities suffer a material adverse change in their financial condition taken as a whole; or
(b) Should any event occur that except for the giving of notice and/or the passage of time would be an Event of Default. Upon the occurrence of a Default Condition or at any time thereafter until such Default Condition no longer exists, the Borrower agrees that subject to Article XII, the
Default Conditions. The following events shall constitute a Default by a party:
i) If the party ceases to do business, or otherwise terminates it business operations, except as a result of an assignment permitted;
ii) If the party shall fail to promptly secure or renew any license, registration, permit, authorization or approval for the conduct of its business in the manner contemplated by this Agreement or if any such license, registration, permit, authorization or approval is revoked or suspended; provided that a termination hereunder may only be effected during the period of such revocation or suspension; or
iii) If the party materially breaches any material provision of this Agreement;
iv) If such party, after consultation with legal counsel, reasonably believes that the activities of the other party or the content of such other party's Site or the statements of opinions express on or through such Site, whether in connection with this Agreement or otherwise, has or is substantially likely to expose such party to criminal or civil liability; or v) or, if any winding up or liquidation proceedings is instituted by the party or if the party becomes insolvent or seeks protection under any bankruptcy, receivership, trust deed, creditors arrangement, composition or comparable proceeding, or if any such proceeding is instituted against the other (and not dismissed within sixty (60) days); or have been commenced against either party, or a party enters into receivership or composition or assignment for the benefit of its creditors generally.
