DEFAULT OF PAYMENTS. All payments required to be made by Lessee shall be considered as rent reserved by Lessor upon contract and all remedies now or hereafter given by the laws of the State of Kentucky for the collection of rent are reserved by Lessor in respect of the sums so payable, and a lien is hereby reserved and imposed upon all improvements, building, structures, equipment, machinery and other personal property of Lessee for use in connection with Lessee's operations on the demised premises. If default be made by the Lessee in the payment of the annual minimum royalties and/or tonnage royalties or in the performance of any other terms, conditions or agreements herein required to be kept and performed by the Lessee, and such default is continued for a period of thirty days after written notification, Lessor may, at its option, terminate this lease and re-enter upon and take possession of the Leased Premises. Any such action by Lessor shall in no manner impair the right to annual minimum royalties and tonnage royalties due or accrued up to the time of such terminating. Lessor also reserves the right to pursue any and all remedies available under the laws of the State of Kentucky for violation of any covenant, term, condition or agreement hereof and all such remedies shall be deemed cumulative and not exclusive.

DEFAULT OF PAYMENTS. 12.1 In the event of non-payment, the Business reserves the right to charge interest at a flat rate of two percent (2%) per month for unpaid invoices from the due date of the fee or charge.

DEFAULT OF PAYMENTS. 11.1 If the Resident defaults in the payment of fees and/or charges, any or all the following may occur: • the outstanding fees and/or charges will be referred to a debt collection agency, • the Resident will be debarred from UTAS until all outstanding fees and/or charges have been paid in full, and; • the agreement will be terminated, and the Resident will be issued with a Notice to Vacate the residence. The Notice to Vacate will take effect 14 days after it has been received by the Resident. If instructed to vacate, a Resident may make the Notice to Vacate ineffective by paying all outstanding amounts within 14 days of receiving the notice.

DEFAULT OF PAYMENTS. In the event of a default in the payment of, or in the performance of any agreement or covenant contained in the Debentures or this Indenture, such payment and performance may be enforced by the Trustee by mandamus, specific performance, or by the appointment of a receiver in accordance with this Indenture.

DEFAULT OF PAYMENTS. 11.1 If the Resident defaults in the payment of fees and/or charges any or all of the following may occur: • the outstanding fees and/or charges will be referred to a debt collection agency, • the Resident will be debarred from the University of Tasmania and AMC until all outstanding fees and/or charges have been paid in full. If a student is debarred it means they will be unable to: enroll at the University of Tasmania or AMC; receive any results of assessment; graduate or receive any diploma or certificate stating that the student is qualified to graduate from The University of Tasmania or AMC; or receive a certificate of academic record; and • the agreement will be terminated and the Resident will be issued with a Notice to Vacate the residence. The Notice to Vacate will take effect 14 days after it has been received by the Resident. If instructed to vacate, a Resident may make the notice to vacate ineffective by paying all outstanding amounts within 14 days of receiving the notice.

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Default of the Bank If the Bank is in default (as defined in Section 3(x)(1) of the FDIA), all obligations under this Agreement shall terminate as of the date of default, but this provision shall not affect any vested rights of the contracting parties.
Allocation of Payments After Event of Default Notwithstanding any other provisions of this Credit Agreement, after the occurrence and during the continuance of an Event of Default with respect to any Borrower, all amounts collected from such Borrower or received by the Administrative Agent or any Lender on account of amounts outstanding under any of the Credit Documents shall be paid over or delivered as follows: FIRST, to the payment of all reasonable out-of-pocket costs and expenses (including without limitation reasonable outside attorneys’ fees other than the fees of in-house counsel) of the Administrative Agent or any of the Lenders in connection with enforcing the rights of the Lenders under the Credit Documents against such Borrower and any protective advances made by the Administrative Agent or any of the Lenders, pro rata as set forth below; SECOND, to payment of any fees owed to the Administrative Agent or any Lender by such Borrower, pro rata as set forth below; THIRD, to the payment of all accrued interest payable to the Lenders by such Borrower hereunder, pro rata as set forth below; FOURTH, to the payment of the outstanding principal amount of the Loans or Letters of Credit outstanding of such Borrower, pro rata as set forth below; FIFTH, to all other obligations which shall have become due and payable of such Borrower under the Credit Documents and not repaid pursuant to clauses “FIRST” through “FOURTH” above; and SIXTH, the payment of the surplus, if any, to whoever may be lawfully entitled to receive such surplus. In carrying out the foregoing, (a) amounts received shall be applied in the numerical order provided until exhausted prior to application to the next succeeding category and (b) each of the Lenders shall receive an amount equal to its pro rata share (based on each Lender’s Commitment Percentages) of amounts available to be applied.
Default of Indebtedness No Borrower is in default in the payment of the principal of or interest on any Indebtedness or under any instrument or agreement under or subject to which any Indebtedness has been issued and no event has occurred under the provisions of any such instrument or agreement which with or without the lapse of time or the giving of notice, or both, constitutes or would constitute an event of default thereunder.
Netting of Payments Subparagraph (ii) of Section 2(c) of this Agreement will apply to Transactions entered into under this Agreement unless otherwise specified in a Confirmation.
Acceleration of Payment Notwithstanding anything to the contrary contained in this Agreement, the Committee shall have the right, at any time in its sole discretion, to accelerate the time of a payment under this Agreement to a time otherwise permitted under Section 409A in accordance with the requirements, restrictions and limitations of Treasury Regulation Section 1.409A-3(j).
Default of Tenant The occurrence of any one or more of the following events shall constitute 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, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its 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; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completion.
Acceleration of Payments Except as specifically permitted herein, no acceleration of the time or schedule of any payment may be made hereunder. Notwithstanding the foregoing, payments may be accelerated, in accordance with the provisions of Treasury Regulation §1.409A-3(j)(4) in the following circumstances: (i) as a result of certain domestic relations orders; (ii) in compliance with ethics agreements with the federal government; (iii) in compliance with the ethics laws or conflicts of interest laws; (iv) in limited cashouts (but not in excess of the limit under Code §402(g)(1)(B)); (v) to pay employment-related taxes; or (vi) to pay any taxes that may become due at any time that the Agreement fails to meet the requirements of Code Section 409A.
Post Default Allocation of Payments Notwithstanding anything herein to the contrary, during an Event of Default, monies to be applied to the Obligations, whether arising from payments by Obligors, realization on Collateral, setoff or otherwise, shall be allocated as follows:
Result of Termination Upon termination of this Agreement pursuant to this Section 6.6, Employer shall pay to Executive, on the Termination Date, an amount equal to (i) all accrued and unpaid salary and other compensation payable to Executive by Employer and all accrued and unused vacation and sick pay payable to Executive by Employer with respect to services rendered by Executive to Employer through the Termination Date; and, (ii) an amount equal to twelve (12) months salary based upon the then existing salary of Executive, payable in the same manner as salary would have been paid to Executive had he continued to work for Employer hereunder. In addition to the foregoing, and notwithstanding the provisions of any other agreement to the contrary, Employer shall continue to provide to Executive all other benefits that would otherwise be payable to Executive pursuant to Section 5.1 hereof for the twelve (12) months following the Termination Date.
Repayment on Event of Default When there is an Event of Default, Borrower will, if Bank demands (or, upon the occurrence of an Event of Default under Section 8.5, immediately without notice or demand from Bank) repay all of the Advances. The demand may, at Bank’s option, include the Advance for each Financed Receivable then outstanding and all accrued Finance Charges, the Early Termination Fee, Collateral Handling Fee, attorneys’ and professional fees, court costs and expenses, and any other Obligations.

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