Default of SRA Sample Clauses

Default of SRA. If the SRA should default in the performance of any of its obligations hereunder, US2 shall give written notice of such default to the SRA. The SRA shall have a period of thirty (30) days after receipt of such notice to cure any default (provided, however, that the SRA shall have such additional time to cure such default as may be reasonably required if the same cannot reasonably be completed within such cure period but is curable, as long as the SRA promptly commences and diligently pursues such cure to completion). If the SRA fails to cure any default within the time provided for such cure in this Section VIII(D), except as otherwise provided below in this paragraph, US2 shall have the right, as its sole and exclusive remedy at law and in equity, to terminate this Master LDA upon thirty (30) days’ prior written notice to the SRA. Notwithstanding the limitation on US2’s recovery described in the preceding sentence, with respect to a default by the SRA resulting in the SRA’s failure to convey to the D-2 Block (or any portion thereof) to US2 or the D-2 Developer, in the event that, at the time the uncured default by the SRA gives rise to US2’s right to terminate this Master LDA, (a) all conditions to closing described in this Master LDA have been satisfied by US2 and (b) US2 is ready, willing and able to pay to the SRA the D-2 Block Purchase Price or Disposition Parcel Purchase Price (as applicable), then US2, as its sole and exclusive remedy at law and in equity, and in lieu of US2’s rights to terminate this Master LDA, as set forth above, shall have the right to specific performance by the SRA of the SRA’s obligations under this Master LDA. US2 hereby waives, for itself and its successors and assigns, any and all other legal or equitable rights or remedies other than those set forth herein including, without limiting the generality of the foregoing, any right to xxx the SRA or the City for specific performance of the SRA or City’s other obligations hereunder or to seek an injunction or other equitable relief in any action against the SRA or the City with respect to any Disposition Parcel (or any portion thereof), and any right to xxx the SRA or the City for damages or costs. Notwithstanding anything to the contrary contained herein, under no circumstances shall US2 be entitled to recover any damages from the SRA or the City, direct, consequential or otherwise.
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Default of SRA. If the SRA should default in the performance of any of its obligations hereunder, US2 shall give written notice of such default to the SRA. The SRA shall have a period of thirty
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Related to Default of SRA

  • Act or default of agents contractors You agree that we have the discretion to use such agents, contractors or correspondents as we deem fit to carry out or procure any of the matters or transactions governed by or contemplated in this agreement, and save where expressly provided in this agreement we are not liable to you for any act, omission or neglect on the part of such agents, contractors and/ or correspondents.

  • Remedies Upon Event of Default If any Event of Default occurs and is continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any or all of the following actions:

  • DEFAULT ON DELIVERY Failure to supply timely written notification of delay may be cause for default proceedings.

  • Remedies Upon an Event of Default If an Event of Default shall have occurred and shall be continuing, the Holder of this Note may at any time at its option, declare the entire unpaid principal balance of this Note, together with all interest accrued hereon, due and payable, and thereupon, the same shall be accelerated and so due and payable; provided, however, that upon the occurrence of an Event of Default described in Section 3.1(f), without presentment, demand, protest, or notice, all of which are hereby expressly unconditionally and irrevocably waived by the Borrower, the outstanding principal balance and accrued interest hereunder shall be automatically due and payable. In addition, if an Event of Default shall have occurred and be continuing, the Holder may exercise or otherwise enforce any one or more of the Holder’s rights, powers, privileges, remedies and interests under this Note or applicable law and institute such actions or proceedings in law or equity as it shall deem expedient for the protection of its rights and may prosecute and enforce its claims against all assets and property of the Borrower, and in connection with any such action or proceeding shall be entitled to receive from the Borrower, payment of the principal amount of this Note plus accrued interest to the date of payment plus reasonable expenses of collection, including, without limitation, attorneys' and experts' fees and expenses. No course of delay on the part of the Holder shall operate as a waiver thereof or otherwise prejudice the right of the Holder. No remedy conferred hereby shall be exclusive of any other remedy referred to herein or now or hereafter available at law, in equity, by statute or otherwise.

  • Xxxxxx of Default Any one or more of the following shall constitute an “Event of Default” hereunder:

  • Notice of Event of Default If the Mortgagee shall have Actual Knowledge of an Event of Default or of a Default arising from a failure to pay Rent, the Mortgagee shall give prompt written notice thereof to the Owner Trustee, the Owner Participant, Lessee, and each Note Holder. Subject to the terms of Sections 2.13, 4.03, 4.04, 4.08, 5.02 and 5.03 hereof, the Mortgagee shall take such action, or refrain from taking such action, with respect to such Event of Default or Default (including with respect to the exercise of any rights or remedies hereunder) as the Mortgagee shall be instructed in writing by a Majority in Interest of Note Holders. Subject to the provisions of Section 5.03, if the Mortgagee shall not have received instructions as above provided within 20 days after mailing notice of such Event of Default to the Note Holders, the Mortgagee may, subject to instructions thereafter received pursuant to the preceding provisions of this Section 5.01, take such action, or refrain from taking such action, but shall be under no duty to take or refrain from taking any action, with respect to such Event of Default or Default as it shall determine advisable in the best interests of the Note Holders; PROVIDED, HOWEVER, that the Mortgagee may not sell the Aircraft or any Engine without the consent of a Majority in Interest of Note Holders. For all purposes of this Trust Indenture, in the absence of Actual Knowledge on the part of the Mortgagee, the Owner Trustee or the Owner Participant, the Mortgagee, the Owner Trustee or the Owner Participant, as the case may be, shall not be deemed to have knowledge of a Default or an Event of Default (except, in the case of the Mortgagee, the failure of Lessee to pay any installment of Basic Rent within one Business Day after the same shall become due, if any portion of such installment was then required to be paid to the Mortgagee, which failure shall constitute knowledge of a Default) unless notified in writing by Lessee, the Owner Trustee, the Owner Participant or one or more Note Holders.

  • WAIVER OF DEFAULT OR BREACH 7 Waiver by COUNTY of any default by CONTRACTOR shall not be considered a waiver of any 8 subsequent default. Waiver by COUNTY of any breach by CONTRACTOR of any provision of this 9 Agreement shall not be considered a waiver of any subsequent breach. Waiver by COUNTY of any 10 default or any breach by CONTRACTOR shall not be considered a modification of the terms of this 11 Agreement. 12 // 13 // 14 // 15 // 16 // 17 // 18 // 19 // 20 // 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 // 33 // 34 // 35 // 36 // 37 //

  • Termination of Default An Event of Default shall be deemed to have been terminated upon the earliest to occur of:

  • Rights Upon Event of Default (a) As long as an Event of Default under this Agreement remains unremedied, Holders of not less than 50% of the outstanding Class Principal Balance of the Original Notes (in each case the outstanding Class Principal Balance of the Original Notes will be determined without regard to any exchanges of Class M Notes for MAC Notes) to which such Event of Default relates may, by written notice to Freddie Mac, declare such Notes due and payable and accelerate the maturity of such Notes. In the event that Class M Notes have been exchanged for MAC Notes, Holders of such MAC Notes will be entitled to exercise all the voting or direction rights that are allocated to such exchanged Class M Notes as described herein. Upon such acceleration, the Class Principal Balance of such Notes and the interest accrued thereon shall be due and payable.

  • Notification of Default (a) Each Obligor shall notify the Agent of any Default (and the steps, if any, being taken to remedy it) promptly upon becoming aware of its occurrence (unless that Obligor is aware that a notification has already been provided by another Obligor).

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