Default Procedure. 13.1. Where either party fails to comply with the provisions of the Agreement (except where this failure entitles the party not so failing to proceed to termination pursuant to Section 10 (Termination)), the party not in default will serve notice in writing stating:
(i) the precise manner in which the party is in default
(ii) the action which the party in default is required to carry out by the party not in default in order to remedy the default
(iii) a reasonable period having regard to the nature of the default in which the party in default should take action referred to in the sub-clause above.
Default Procedure. In the event that Customer fails to make the accelerated advance payments in the amounts and on the dates established by the parties, or if the parties are unable to agree on the dates and amounts for the accelerated advance payments, the Customer shall pay interest as described in paragraph 5, above.
Default Procedure. (a) If a Default occurs, the Administrative Agent shall promptly after becoming aware of the same notify the Lenders in writing of such occurrence.
(b) The Administrative Agent shall use commercially reasonable endeavors to promptly comply with the instructions of Majority Lenders as to the exercise or enforcement by it, following a Default, of any of its rights in respect of the Trust Collateral, upon and subject to the terms and conditions hereof and pursuant to the terms and conditions in the Security Documents.
(c) The Administrative Agent, if applicable, shall at any time after the occurrence of a Default be entitled (but not obliged) to request instructions from the Secured Parties as to whether it should endeavor to enforce any of the Trust Collateral and/or as to the manner in which it should endeavor to do so, and to convene on reasonable notice a meeting of the Secured Parties to discuss such matters.
Default Procedure. If a Member (or other Distributee, if applicable) does not make a timely election whether or not to directly roll over his Eligible Rollover Distribution within a reasonable period permitted by the Committee for making such election, such distribution shall be made directly to the Member (or other Distributee, if applicable). Notwithstanding the foregoing, effective March 28, 2005, such Eligible Rollover Distributions made to a Member prior to Normal Retirement Date that exceed $1,000 but do not exceed $5,000 will be automatically rolled over to an individual retirement account, as described in Section 8.1.2.
Default Procedure. The Charge shall become immediately enforceable:
(A) automatically upon the occurrence of any Event of Default described in sections 8.1(f) or 8.1(g) of the Facility Agreement (except with respect to Excluded Subsidiaries); and
(B) at the request of (or with the consent of) the Requisite Lenders and upon notice to the Borrower by the Administrative Agent, upon the occurrence of any other Event of Default (including those described in sections 8.1(f) or 8.1(g) of the Facility Agreement with respect to Excluded Subsidiaries).
Default Procedure. Where either party fails to comply with the provisions of the Agreement (except where this failure entitles the party not so failing to proceed to termination pursuant to Section 10 (Termination)), the party not in default will serve notice in writing stating:
Default Procedure. (1). Whether the lessor or the lessee is in default under a lease contract is determined by the lease agreement and this Article. [PL 1991, c. 805, §4 (NEW).]
(2). If the lessor or the lessee is in default under the lease contract, the party seeking enforcement has rights and remedies as provided in this Article and, except as limited by this Article, as provided in the lease agreement. [PL 1991, c. 805, §4 (NEW).]
(3). If the lessor or the lessee is in default under the lease contract, the party seeking enforcement may reduce the party's claim to judgment, or otherwise enforce the lease contract by self-help or any available judicial procedure or nonjudicial procedure, including administrative proceeding, arbitration or the like, in accordance with this Article. [PL 1991, c. 805, §4 (NEW).]
(4). Except as otherwise provided in section 1‑1305, subsection (1), this Article or the lease agreement, the rights and remedies referred to in subsections (2) and (3) are cumulative. [PL 2009, c. 325, Pt. B, §9 (AMD); PL 2009, c. 325, Pt. B, §27 (AFF).]
(5). If the lease agreement covers both real property and goods, the party seeking enforcement may proceed under this Part as to the goods or under other applicable law as to both the real property and the goods in accordance with that party's rights and remedies in respect of the real property, in which case this Part does not apply. [PL 1991, c. 805, §4 (NEW).] SECTION HISTORY PL 1991, c. 805, §4 (NEW). PL 2009, c. 325, Pt. B, §9 (AMD). PL 2009, c. 325, Pt. B, §27 (AFF). The State of Maine claims a copyright in its codified statutes. If you intend to republish this material, we require that you include the following disclaimer in your publication: The Office of the Revisor of Statutes also requests that you send us one copy of any statutory publication you may produce. Our goal is not to restrict publishing activity, but to keep track of who is publishing what, to identify any needless duplication and to preserve the State's copyright rights.
Default Procedure. 8.1 Where either party fails to comply with the provisions of the Agreement the party not in default may serve notice in writing stating: (i) the precise manner in which the other party is in default (ii) the action which the party in default is required to carry out in order to remedy the default (iii) a reasonable period having regard to the nature of the default within which the party in default should take action referred to in the sub- clause above
8.2 If remedial action is not taken by the date given in the notice of default, the party not in default is entitled to terminate the Agreement in accordance with clause 9 (Termination) and/or recover any costs it incurs in remedying the default specified in the notice.
8.3 If the Service Provider fails to meet the required standards of service pursuant to Schedule 1 (Service Specification), then without prejudice to any other right or remedy the Council may have, and without terminating the Contract, the Council may: (i) Itself provide or procure the provision of the relevant part of the service from a third party not specified in this Agreement until the breach has been remedied to the reasonable satisfaction of the Council (ii) Deduct from any sums due or otherwise charge to the Service Provider the reasonable cost of any service so provided together with relevant administrative costs
8.4 Where the Council is in default under the terms of the Agreement the Service Provider will be entitled to recover reasonable costs from the Council that are directly attributable to the default referred to in the notice.
Default Procedure. If at any time any party is in Material ----------------- Breach of this Agreement, then in addition to all other rights and remedies available under applicable law or in equity, the other party shall have the right to terminate this Agreement without further notice or demand. "Material Breach" shall mean (i) as to a failure of payment, that full payment has not been received within five (5) days after the owing party's receipt of written notice that the payment was due, (ii) as to any other type of failure, a material failure or performance of a party's obligations under this Agreement if such failure remains uncured thirty (30) days after receipt of written notice of the failure, and (iii) as to TRS, failure to cause the replacement or restoration of the Letter of Credit, as applicable, within five (5) days following its complete or partial draw due to the occurrence of a Material Breach hereunder except, as to (i), (ii) or (iii) above, if prevented by a force majeure under Section 16.K below. * CONFIDENTIAL PORTIONS OMITTED AND FILED SEPARATELY WITH THE COMMISSION PURSUANT TO AN APPLICATION FOR CONFIDENTIAL TREATMENT PURSUANT TO RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.
Default Procedure. If you breach this Master Lease or violate the terms of the TSP Documentation, then Ryder may send you a notice of default. You will have 48 hours from the time that Ryder sends you the notice to cure the default. If you fail to cure a default as required by this Paragraph, then Ryder may, at its option, without prejudice to Ryder’s other remedies under the TSP Documentation, at law or in equity: (i) immediately return any or all TSP Vehicles to the proper TSP Vehicle Drop-Off Location, without further demand or notice (unless required by law in the relevant jurisdiction); (ii) remove all TSP Vehicles from any available vehicle listings in the TSP; (iii) terminate your access to the TSP Software; and/or (iv) terminate the Master Lease or individual Short-Term TSP Leases as to any or all of the TSP Vehicles. Default related to uncertified or unsafe TSP Vehicles shall not be subject to the 48 hour cure period and may be immediately removed from the TSP at Ryder’s sole discretion.
