Default for Non-Payment. If HPTE fails to repay any CDOT Backup Loan in accordance with the applicable CDOT Backup Loan Agreement, and upon notice to HPTE and failure by HPTE to cure within thirty (30) days thereof, CDOT may, at its option: (i) terminate its commitment to consider making future CDOT Backup Loans hereunder; (ii) declare the entire principal amount of all CDOT Backup Loans then outstanding immediately due and payable; or
Default for Non-Payment. If HPTE fails to repay any CDOT Backup Loan in accordance with the applicable CDOT Backup Loan Agreement and upon notice to HPTE and failure by HPTE to cure within thirty (30) days thereof, CDOT may, at its option: (a) terminate its commitment to make future CDOT Backup Loans hereunder; (b) declare the entire principal amount of all CDOT Backup Loans then outstanding immediately due and payable; (c) take any other appropriate action available at law or in equity; provided, however, that no CDOT Backup Loan or interest thereon shall be paid at any time there are amounts outstanding under the 2021 Loan Agreement. Notwithstanding the exercise of any of the remedies above, HPTE shall not be relieved of liability to CDOT for any damages sustained by CDOT by virtue of any breach of this Agreement by HPTE.
Default for Non-Payment. Any of the following events shall constitute a default on the part of HPTE hereunder:
a. Failure of HPTE to make any payment within thirty (30) days after receiving notice from CDOT regarding the same; or
b. Any breach or failure of HPTE to perform any of its material obligation under this Agreement within sixty (60) days after HPTE receives notice from CDOT setting forth in reasonable detail the nature and extent of the failure, or within a longer period of time as may be necessary for such cure so long as HPTE shall promptly commence and diligently prosecute pursuing the breach or failure identified in the notice.
c. Upon default and after the expiration of any cure period, CDOT may take possession of the Tolling Equipment to which the default relates, and hold, sell or otherwise dispose of the Tolling Equipment without affecting the obligations of HPTE as provided in this Agreement. No waiver by CDOT of performance by HPTE shall be considered a continuing waiver or shall preclude CDOT from exercising its rights in the event of a subsequent default. No acceptance by CDOT of a partial payment tendered by HPTE shall be deemed a waiver of the balance of the amount due even if the tender states that acceptance will constitute a payment in full.
Default for Non-Payment. If rent remains unpaid for a long period of time, it may appear that the tenant does not have the funds to make the payment or does not intend to make the payment. In any case, the last calendar date of the month when the landlord assumes that the tenant still intends to pay the rent arrears must be documented. If a calendar day of this month passes without payment by the tenant, the landlord has the right to request further action. Insufficient funds (15) Bounced check penalty. Unfortunately, there may be situations where the tenant submits payment by check, which is then rejected by the issuing bank. Xxxxx often issue a penalty for such deposits, so the landlord may issue a penalty to the tenant if they present a check with insufficient funds. Document the dollar amount the landlord will charge as a penalty in this agreement. Deposit
Default for Non-Payment. If HPTE fails to repay any CDOT Backup Loan in accordance with the applicable CDOT Backup Loan Agreement, and upon notice to HPTE and failure by HPTE to cure within thirty (30) days thereof, CDOT may, at its option: (a) suspend or terminate its commitment to consider making future CDOT Backup Loans hereunder; (b) require HPTE to engage a traffic consultant to review and analyze the operations of the I-25 North Express Lanes Project and recommend actions regarding revising toll rates, changing the methods of operations, or any other actions to increase Gross Revenues, and in CDOT’s discretion, require HPTE to either implement such recommended actions or undertake such alternative course of action that will ensure HPTE’s ability to meet its payment obligations under the applicable CDOT Backup Loan Agreement; or (c) take any other appropriate action available at law or in equity; provided, however, that no CDOT Backup Loan, or interest thereon, shall be repaid except to the extent Net Revenues are available for such purpose under the terms and conditions of the Financing Agreements and the CDOT Backup Loan is not subject to acceleration. Notwithstanding the exercise of any of the remedies above, or the termination of this Agreement for any reason, HPTE shall not be relieved of liability to CDOT for any damages sustained by CDOT by virtue of any breach of this Agreement by HPTE (it being mutually understood that any payment by HPTE in respect of such damages shall be subject to the same restrictions in the Financing Agreements as apply to the repayment of any CDOT Backup Loan), nor shall CDOT be permitted to cease performance of operations and maintenance of the I-00 Xxxxx Xxxxxxx Xxxxx Project. This Section IV.2 shall survive any termination of this Agreement.
Default for Non-Payment. Section 24.4.2 of the Lease is hereby amended by deleting the existing language in its entirety and replacing the same with the following: Tenant shall fail to pay any installment of Rent, Additional Rent or any other payment hereunder when due; provided, however, that Landlord will give Tenant notice and an opportunity to cure any failure to pay Rent within 3 days of any such notice not more than twice in any 12 month period and Tenant agrees that such notice shall be in lieu of and not in addition to, or shall be deemed to be, any notice required by law;
Default for Non-Payment. If the default is due to the Company’s non-payment of payment obligations under this Agreement, the Contractor shall provide five (5) business days to cure the default. If the default for non-payment is not cured within thirty (30) business days, this Agreement shall terminate at midnight of the thirtieth (30th) day following receipt of the notice of termination.
Default for Non-Payment. If HPTE fails to repay any CDOT Backup Loan in accordance with the applicable CDOT Backup Loan Agreement, and upon notice to HPTE and failure by HPTE to cure within thirty (30) days thereof, CDOT may, at its option: (i) terminate its commitment to consider making future CDOT Backup Loans hereunder; (ii) require HPTE to engage a traffic consultant to review and analyze the operations of the Project and recommend actions regarding revising toll rates, changing the methods of operations, or any other actions to increase Gross Revenues, and in CDOT’s discretion, require HPTE to either implement such recommended actions or undertake such alternative course of action that will ensure HPTE’s ability to meet its payment obligations under the applicable CDOT Backup Loan Agreement; or
Default for Non-Payment. Non-payment of monthly rent on or before the fifteenth (15th) day of the month shall constitute a default under this Lease Agreement and Lessor may, at his discretion, terminate the Lease Agreement immediately without notice or demand. Lessee agrees that a default under any one leased Facility shall constitute a default in all 8 of Lessor Lessee the leased Facilities. Any litigation between the parties regarding the lease shall be held in Xxxxxx County GA Superior Court.
Default for Non-Payment. We may deem you in default of this Agreement if you fail to make full payment for any Transaction when due or your EFT payment bounces, is returned unpaid or otherwise is dishonored and no alternate form of payment is received by us. Your failure to pay any amount owed to us is a breach of this Agreement. In addition to the amount owed, you will be liable for losses resulting from reversing the Transaction and costs we incur during collection. Collection costs may include attorneys’ fees and expenses, cost of arbitration proceedings, collection agency fees, applicable interest and other related costs.
