Default If. (a) The Borrower fails to pay any of the monies payable under this Agreement on the due date or defaults in the observance or performance of any covenant, condition or agreement on the part of the Borrower contained in this Agreement;
(b) The Borrower commits or suffers any act of bankruptcy, is placed into liquidation or becomes insolvent;
(c) A receiver is appointed over any of the assets of the Borrower;
(d) Any judgment or order against the Borrower remains unsatisfied for more than ten days;
(e) Any insurance policy in relation to the Collateral is cancelled;
(f) Any distress or execution is levied or issued against the Collateral or any lien is claimed over the Collateral;
(g) The Borrower abandons the Collateral and it is “at risk” (as determined in accordance with section 109(2) of the PPSA or section 83E of the Act (as applicable)); or
(h) The Borrower or a Guarantor dies or becomes of unsound mind, the Secured Monies shall immediately become due and payable and the Creditor may, where the Agreement relates to consumer goods, repossess and sell the Collateral in accordance with the provisions of the Act and the Borrower's right to reinstate or settle the Agreement conferred by sections 83ZB and 83ZE of the Act, or, where the Agreement does not relate to consumer goods, exercise any or all rights conferred on the Creditor under Part 9 of the PPSA. On the exercise of any power of repossession, or the exercise of any power to take the Collateral under Part 9 of the PPSA, the Borrower will execute in favour of the Creditor or its nominee, any transfer, renewal, application or other instrument relating to any licence or registration for the Collateral.
Default If. (a) the Customer fails to pay any amount owing on the due date or is in breach of any other terms and conditions of this contract or any other contract between the Customer and the Company, and such default continues for three days;
(b) the Customer has an execution levied against it, becomes bankrupt or insolvent, or commits any act of bankruptcy or enters into or attempts to enter into any compromise or arrangement with its creditors (voluntary, informal or otherwise) or in the case of a company, does any act which would render it liable to be liquidated or have a receiver or statutory manager appointed over its property or if it has a liquidation order made against it or passes or attempts to pass a resolution for liquidation or is a party to the appointment of a liquidator or has a manager or receiver appointed over the whole or any part of its property or undertaking;
(c) the Company believes the Goods to be at risk for any reason whatsoever, including but not limited to the manner in which the Goods are used, or adverse weather or work conditions; Or
(d) the Goods are damaged lost, stolen or destroyed, Then:
(e) the Contract Price and any other amounts outstanding with the Company together with any penalties and interest payable , will immediately become due and payable;
(f) the Company may retake possession of any of the Goods provided to the Customer and for that purpose may, without notice, directly or by its agents, enter the premises where the Goods may be situated. In such event all costs and expenses incurred by the Company in the recovery of the Goods are to be paid by the Customer; and
(g) the Company may cancel any outstanding order with the Customer or all or any part of any contract with the Customer which remains unperformed in addition to and without prejudice to its other remedies. The rights of the Company under this paragraph are exercisable without prejudice to all other rights and remedies of the Company in consequence of the default or defaults of the Customer. The Company will not be liable for any loss of profits, consequential, indirect or special damage, loss or injury of any kind suffered by the Customer or any other person arising from termination of the contract or repossession of the Goods.
Default If. (a) the Customer fails to complete the Option Contract in terms of arrangement;
(b) the Customer fails to pay any Premium, or any Deposit or Margin Deposit, to Custom House Global Foreign Exchange; or
(c) an Insolvency Event occurs, then the Customer agrees that Custom House Global Foreign Exchange shall no longer be obliged to fulfill the Option Contract, or any other existing Option or Forward Exchange Contract with the Customer, nor to enter into any further Contract with the Customer, and Custom House Global Foreign Exchange may, in its sole discretion:
(d) calculate the value of the Option or Options and any required amounts payable to terminate the Option Contract and offset the obligations of the Customer under it;
(e) charge the Customer with the damages, losses, including loss of profit, incurred by Custom House Global Foreign Exchange, and shall include additional processing fees, interest, costs and expenses incurred by Custom House Global Foreign Exchange; and
(f) set off the amounts payable under paragraphs (d) and (e) to obtain a net amount to be paid by one party to the other.
Default If. (a) the Customer breaches a term of this Self Supply Contract that is, in the view of the Microgrid Operator a material term; (b) is negligent in relation to the operation of the Generator; or (c) does or permits anything that interferes with the Microgrid Operator’s operation of the Microgrid that is: (i) not capable of remedy; or (ii) capable of remedy but which has not been remedied within [20] Business Days of such notice. then the Microgrid Operator may by notice terminate this Self Supply Contract.
Default If. 5.2.1 the Association fails to pay money which is due to the Council for a period of twenty eight (28) days from the due date for payment;
5.2.2 the Association commits any breach of this Lease which, is either not capable of being completely put right, or is not put right within twenty eight (28) days from the date of the Council's notice to the Association, identifying the breach and requiring it to be put right;
5.2.3 an insolvency event occurs in respect of the Association
5.2.4 the Association ceases to manage the Land for the purposes set out or in compliance with Clauses 3.1 or to maintain the Land as provided at Clause 3.3 to the reasonable satisfaction of Council then the Council will be entitled to terminate this Lease. The right to terminate this Lease will not reduce the Council's rights to take any other action for any of the Association's previous breaches.
Default If. Lessee Fails to Pay: The Lessee fails to pay the Annual Rent or other money payable under this lease (including GST); and
Default If. 12.1. the Goods are not paid for in accordance with these Terms or any other applicable written agreement; or
12.2. the Company receives notice that, or reasonably believes that a third party may attempt to take possession of the Goods or attach the Goods pursuant to a writ of execution; or
12.3. any other event occurs which is likely to adversely affect the Customer's ability to pay for the Goods (including but not limited to the appointment of a receiver, administrator, liquidator or similar person each an “insolvency representative" to the Customer's undertaking), then the Company may at any time thereafter, without notice to the Customer and without prejudice to any other rights which it may have against the Customer, terminate any contract relating to the Goods and the bailment referred to in clause 6.2.1.
Default If. (A) THE RENT OR ANY PART OF IT IS IN ARREARS AND UNPAID FOR FOURTEEN (14) DAYS NEXT AFTER ANY OF THE DUE DATES FOR PAYMENT (WHETHER DEMANDED OR NOT); OR (B) ANY MONEYS (OTHER THAN RENT) PAYABLE BY THE LESSEE TO THE LESSOR ON DEMAND ARE NOT PAID WITHIN FOURTEEN (14) DAYS OF THE LESSOR DEMANDING PAYMENT, OR IF ANY OTHER MONEYS PAYABLE BY THE LESSEE TO THE LESSOR ARE NOT PAID BY THE DUE DATE FOR PAYMENT; OR (C) THE LESSEE FAILS OR REFUSES TO CARRY OUT ANY REPAIRS PROPERLY REQUIRED BY ANY NOTICE WITHIN THE TIME SPECIFIED IN THE NOTICE; OR (D) THE LESSEE FAILS TO PERFORM OR OBSERVE IN A TIMELY FASHION ANY OF THE COVENANTS OR CONDITIONS CONTAINED IN THIS LEASE WHICH OUGHT TO BE PERFORMED OR OBSERVED BY THE LESSEE; OR (E) ANY ASSIGNMENT IS MADE OF THE PROPERTY OF THE LESSEE FOR THE BENEFIT OF CREDITORS; OR (F) THE LESSEE, BEING A COMPANY, ENTERS INTO LIQUIDATION (WHETHER VOLUNTARY, COMPULSORY OR PROVISIONAL), OR IS WOUND-UP OR DISSOLVED, OR ENTERS INTO A SCHEME OF ARRANGEMENT FOR CREDITORS, OR IS PLACED UNDER OFFICIAL MANAGEMENT, OR A RECEIVER AND/OR MANAGER OF ANY OF ITS ASSETS IS APPOINTED, THEN AND IN ANY OF SUCH CASES THE LESSEE SHALL BE DEEMED TO HAVE MADE DEFAULT. THE LESSOR MAY ELECT TO TREAT ANY SUCH DEFAULT AS A REPUDIATION OF THIS LEASE BY THE LESSEE. 58.2 FORFEITURE OF LEASE IF THE LEASE HAS MADE DEFAULT AS SPECIFIED IN CLAUSE 10.1 THE LESSOR MAY, WITHOUT PREJUDICE TO ANY OTHER CLAIM WHICH THE LESSOR HAS OR MAY HAVE OR COULD OTHERWISE HAVE AGAINST THE LESSEE OR ANY OTHER PERSON IN RESPECT OF SUCH DEFAULT, AT ANY TIME: (A) SUBJECT TO ANY PRIOR DEMAND OR NOTICE AS IS REQUIRED BY LAW, RE-ENTER INTO AND TAKE POSSESSION OF THE PREMISES OR ANY PART OF THEM (BY FORCE IF NECESSARY) AND EJECT THE LESSEE AND ALL OTHER PERSONS FROM THEM, AND THEREUPON THIS LEASE SHALL BE ABSOLUTELY DETERMINED; OR
Default If. (a) The Developer fails, after all applicable cure periods, to observe or perform any of the Developer’s covenants, agreements, or obligations stated in this LDA;
(b) The Developer is found to be in default under the Construction Loan by the Construction Lender;
(c) The Developer Transfers the Property or any portion thereof, other than to a Permitted Mortgagee, without the prior written consent of the Town; or
(d) The Developer shall have filed a voluntary petition, or there shall have been filed against the Developer an involuntary petition, in bankruptcy or insolvency or adjudication of bankruptcy or insolvency of the Developer, or the filing by the Developer of any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under the present or any future federal bankruptcy act, or any other present or future applicable federal, state, or other statute or law, or the assignment by the Developer for the benefit of creditors, or appointment of a trustee, receiver, or liquidator of all or any part of the assets of the Developer, and within one hundred twenty (120) days after the commencement of any such proceeding against the Developer, such proceeding shall not have been dismissed, or if, within one hundred twenty (120) days after the appointment of any trustee, receiver, or liquidator of the Developer or of all or any part of the Developer’s property, without the consent or acquiescence of the Developer, such appointment shall not have been vacated or otherwise discharged; then, the Town shall notify the Developer and the Permitted Mortgagees in writing of such failure or violation. The Developer shall thereupon have thirty (30) days from the receipt by it of such written notice (the “First Notice”) to cure such failure or violation (or if such failure or violation is a non-monetary violation and cannot be cured within thirty (30) days, to commence to cure the same within said period and diligently to proceed thereafter to complete such curing, but in no event later than sixty (60) days from the date of the First Notice). If the Developer does not cure such failure or violation within the aforesaid periods (or within such extended period of time as set forth above), the Town shall give a second notice (the "Second Notice") of such failure or violation and the expiration of the grace period to Developer and the Permitted Mortgagees.
Default If. (1) Tenant shall fail to pay any rent or other sum payable hereunder for a period of five (5) days after the same is due; (2) Tenant shall fail to observe, keep or perform any of the other terms, covenants, agreements or conditions contained herein or in the rules and regulations to be observed or performed by Tenant and such default continues for a period of thirty (30) days after notice by Landlord or beyond the time reasonably necessary for cure if such default is of a nature to require in excess of thirty (30) days to remedy; (
