DEFAULT OF PAYMENTS Sample Clauses

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.
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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. 12.2 A debt recovery fee of ten percent (10%) of the invoice value will be added should the Business be forced to take legal action to recover the fee or charge. The Business will also be entitled to Claim Court costs and any associated legal fees and charges on an indemnity basis. 12.3 All fees and charges will be invoiced in Australian dollars and are to be paid in Australian dollars.
DEFAULT OF PAYMENTS. 11.1 If the Resident defaults in the payment of fees and/or charges, any or all the following may occur: 11.2 A Sponsor shall be jointly and severally liable for any unpaid part of the fees or any obligation arising under this Agreement. Any additional charges or costs incurred in the collection of such fees or charges, including debt collection fees, court costs and disbursements, and solicitor’s fees, regardless of judgment, will be the responsibility of the defaulting Resident and any sponsor.
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. 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. Item # 15 ASSIGNMENT OF LEASE Lessee may assign or sublet all or a part this Lease or the premises or any part thereof. In the event of any assignment or sublease, Lessee shall remain primarily liable to Lessor for the performance of all obligations and duties hereunder and shall provide Lessor with a satisfactory assumption agreement signed by the assignee or sublessee. Neither this Lease, the estate hereby created, nor the rights of Lessee created hereunder shall be subject to sale, disposition or possession thereof,

Related to DEFAULT OF PAYMENTS

  • 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.

  • 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.

  • Suspension of Payments This Grant Agreement may be subject to suspension of payments or termination, or both if the State determines that: A. The Grantee, its contractors, or subcontractors have made a false certification, or B. The Grantee, its contractors, or subcontractors violates the certification by failing to carry out the requirements noted in this Grant Agreement.

  • 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, after the occurrence and during the continuance of 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: (a) first, to all costs and expenses, including Extraordinary Expenses, owing to Agent; (b) second, to all amounts owing to Agent on Swingline Loans or Protective Advances; (c) third, to all amounts owing to Issuing Bank on LC Obligations; (d) fourth, to all Obligations constituting fees owing to the Tranche A Lenders in their capacity as Tranche A Lenders (excluding Bank Product Debt); (e) fifth, to all Obligations constituting interest then owing on Tranche A Revolver Loans (excluding Bank Product Debt); (f) sixth, to provide Cash Collateral for outstanding Letters of Credit; (g) seventh, to all other Obligations owing to the Tranche A Lenders in their capacity as Tranche A Lenders (excluding Bank Product Debt); (h) eighth, to all Obligations constituting fees owing to the Tranche A-1 Lenders in their capacity as Tranche A-1 Lenders (excluding Bank Product Debt); (i) ninth, to all Obligations constituting interest then owing on Tranche A-1 Revolver Loans (excluding Bank Product Debt); (j) tenth, to all other Obligations owing to the Tranche A-1 Lenders in their capacity as Tranche A-1 Lenders (excluding Bank Product Debt); (k) eleventh, to Bank Product Debt owing to the Secured Parties for which Agent has received written notice as provided under the definition of “Bank Product”; and (l) twelfth, to Bank Product Debt owing to the Secured Parties for which Agent has not received written notice as provided under the definition of “Bank Product”. Amounts shall be applied to each category of Obligations set forth above until Full Payment thereof and then to the next category. If amounts are insufficient to satisfy a category, they shall be applied on a pro rata basis among the Obligations in the category. Amounts distributed with respect to any Bank Product Debt or LC Obligations shall be the lesser of the applicable LC Obligations or Bank Product Amount last reported to Agent or the actual LC Obligations or Bank Product Debt as calculated by the methodology reported to Agent for determining the amount due. Agent shall have no obligation to calculate the amount to be distributed with respect to any Bank Product Debt, but may rely upon written notice of the amount (setting forth a reasonably detailed calculation) from the Secured Party. In the absence of such notice, Agent may assume the amount to be distributed is the Bank Product Amount last reported to it. The allocations set forth in this Section 5.5.2 are solely to determine the rights and priorities of Agent and Lenders as among themselves, and may be changed by agreement among them without the consent of any Obligor. This Section 5.5.2 is not for the benefit of or enforceable by any Obligor.

  • Termination of Payments Notwithstanding section 2.2, no payments shall be due to Purchaser xXxx Purchaser has received an aggregate amount under this Note, including payments made by the Company pursuant to section 2.3, equal to (i) the Principal Amount (as defined in the Investor Information Sheet above), multiplied by (ii) the Maximum Payment Multiple. We refer to the result of this multiplication as the “Maximum Payment Amount.”

  • Notice of Payment of Termination Payment As soon as practicable after a liquidation, Notice shall be given by the Non-Defaulting Party to the Defaulting Party of the amount of the Termination Payment and whether the Termination Payment is due to the Non-Defaulting Party. The Notice shall include a written statement explaining in reasonable detail the calculation of such amount and the sources for such calculation. The Termination Payment shall be made to the Non-Defaulting Party, as applicable, within ten (10) Business Days after such Notice is effective.

  • Absence of Events of Default Except for matters described in the SEC Documents and/or this Agreement, no Event of Default, as defined in the respective agreement to which the Company is a party, and no event which, with the giving of notice or the passage of time or both, would become an Event of Default (as so defined), has occurred and is continuing, which would have a Material Adverse Effect on the Company's business, properties, prospects, financial condition or results of operations.

  • Conditions of Payment All services provided by the Contractor under Work Authorizations must be performed to the State’s satisfaction, as determined at the sole discretion of the State’s Authorized Representative and in accordance with all applicable federal, state, and local laws, ordinances, rules, and regulations including business registration requirements of the Office of the Secretary of State. The Contractor will not receive payment for work found by the State to be unsatisfactory or performed in violation of federal, state, or local law.

  • Application of Payments and Proceeds Upon Default If an Event of Default has occurred and is continuing, Bank shall have the right to apply in any order any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations. Bank shall pay any surplus to Borrower by credit to the Designated Deposit Account or to other Persons legally entitled thereto; Borrower shall remain liable to Bank for any deficiency. If Bank, directly or indirectly, enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Bank shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Bank of cash therefor.

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