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Default Proceedings Sample Clauses

Default ProceedingsThe Claimant will not institute proceedings against a defaulting Party, nor be entitled to damages if the defaulting Party within fifteen (15) days from receipt of the written notice of default set forth in Section 8.01, commences with due diligence to cure, correct or remedy such failure or delay and completes such cure, correction or remedy within thirty (30) days from the date of receipt of such notice; or if such cure, correction or remedy by its nature cannot be effected within such thirty (30) day period, such cure, correction or remedy is diligently and continuously prosecuted until completion thereof.
Default Proceedings. 21.1. If the Contractor neglects to execute the Work with due diligence or defaults in the performance or observance of any condition or stipulation contained in this Agreement or refuses or neglects to carry out any instruction which the Client is entitled to give under this Agreement the Client may call upon the Contractor by notice in writing to show cause. 21.2. Such notice shall not unreasonably be given and must identify the default on the part of the Contractor upon which it is based. If, within seven days after receipt of the notice in writing, the contractor fails to provide the Work or part of the Work, within a reasonable time fails to satisfactorily complete the Work the Client may exercise all or any of the following powers: 21.2.1. Suspend payment under the contract until the default is rectified; or 21.2.2. Cancel the Contract by notice which will take effect from the date of the notice and the cancellation shall be without prejudice to any right that may have accrued to the Client or the Contractor under this Agreement.
Default Proceedings. (a) Neither Party shall institute proceedings against a defaulting Party, nor be entitled to damages if the defaulting Party, within thirty (30) days from receipt of the written notice of default set forth in Section 10.01, commences with due diligence to cure, correct or remedy such failure or delay and completes such cure, correction or remedy within sixty (60) days from the date of receipt of such notice; or if such cure, correction or remedy by its nature cannot be effected within such sixty (60) day period, such cure, correction or remedy is diligently and continuously prosecuted until the completion thereof. (b) If the Developer fails to cure, correct or remedy a default within the aforementioned sixty (60) day period set forth in Section 10.02(a), or if such cure, correction or remedy cannot be effected within such sixty (60) day period, Developer fails to commence such cure, correction or remedy, or fails to diligently pursue the same to completion, then the City may re-send such written notice of default to the Developer, with the following statement in bold at the beginning of such notice “WARNING: SECOND NOTICE OF DEFAULT. Failure to respond to this request within thirty (30) days shall be an Event of Default.” The City shall not institute proceedings against the Developer, nor be entitled to damages or re-conveyance of any portion of the Development Site unless the Developer fails to cure, correct or remedy such default within such thirty (30) day period or, if such cure, correction or remedy cannot be effected within such thirty (30) day period, Developer fails to commence such cure, correction or remedy, or fails to diligently pursue the same to completion. (c) Notwithstanding anything to the contrary in the foregoing, the failure of Developer to perform within the cure period set forth in a Final Performance Notice in accordance with Section 3.05(d) hereof shall be considered an Event of Default. (d) Any cure effected by a lender or mortgagee of Developer shall be accepted by the City as if effected by the Developer as set forth in Section 10.08 below.
Default Proceedings. 16 Section 7.03. Remedies on Default 16 Section 7.04. Legal Actions. 17 Section 7.05. Rights and Remedies are Cumulative. 18 Section 7.06. Inaction Not a Waiver of Default. 18 Section 7.07. Enforced Delay; Extension of Times of Performance. 18
Default Proceedings. In the event of a Default, the following procedures shall apply: a) Notification in writing of the Participant’s Default shall be sent to all Covered Clients, the Trust and applicable Regulatory Agencies and ESAC Surety(ies). b) Initiation of procedures to fulfill the obligations of ESAC and the Trust under the affected Client Participation Certificates (Attachment A). c) Initiation of procedures to recover any claim-related losses.

Related to Default Proceedings

  • Court Proceedings The Purchaser shall cooperate with and assist the Company in seeking the Interim Order and the Final Order, including by providing to the Company on a timely basis any information required by applicable Law to be supplied by the Purchaser in connection therewith as requested by the Company in writing. In connection with all Court proceedings relating to obtaining the Interim Order and the Final Order, the Company shall: (a) diligently pursue, and cooperate with the Purchaser in diligently pursuing, the Interim Order and the Final Order; (b) provide legal counsel to the Purchaser with a reasonable opportunity to review and comment upon drafts of all material to be filed with the Court in connection with the Arrangement, and give reasonable consideration to all such comments; (c) provide the Purchaser on a timely basis with copies of any notice of appearance, evidence or other documents served on the Company or its legal counsel in respect of the application for the Interim Order or the Final Order or any appeal from them, and any notice, written or oral, indicating the intention of any Person to appeal, or oppose the granting of, the Interim Order or the Final Order; (d) ensure that all material filed with the Court in connection with the Arrangement is consistent with this Agreement and the Plan of Arrangement; (e) not file any material with the Court in connection with the Arrangement or serve any such material, or agree to modify or amend any material so filed or served, except as contemplated by this Agreement or with the Purchaser’s prior written consent, such consent not to be unreasonably withheld, conditioned or delayed, provided that the Purchaser shall not be required to agree or consent to any increase in the consideration or other modification or amendment to such filed or served materials that expands or increases the Purchaser’s obligations, or diminishes or limits the Purchaser’s rights, set forth in any such filed or served materials or under this Agreement; (f) oppose any proposal from any Person that the Final Order contain any provision inconsistent with this Agreement, and if required by the terms of the Final Order or by Law to return to Court with respect to the Final Order do so only after notice to the Purchaser, and affording the Purchaser an opportunity to consult regarding same which is reasonable in the circumstances; and (g) not object to legal counsel to the Purchaser making such submissions on the hearing of the motion for the Interim Order and the application for the Final Order as such counsel considers appropriate, provided that the Purchaser advises the Company of the nature of any such submissions prior to the hearing and such submissions are consistent with this Agreement and the Plan of Arrangement.

  • Enforcement Proceedings A distress, attachment, execution or other legal process is levied, enforced or sued out on or against the assets of the Borrower and is not discharged or stayed within 14 Business Days.

  • Litigation; Proceedings Except as specifically disclosed in the Disclosure Materials, there is no action, suit, notice of violation, proceeding or investigation pending or, to the best knowledge of the Company, threatened against or affecting the Company or any of its Subsidiaries or any of their respective properties before or by any court, governmental or administrative agency or regulatory authority (federal, state, county, local or foreign) which (i) adversely affects or challenges the legality, validity or enforceability of any Transaction Document or the Securities or (ii) could, individually or in the aggregate, have or result in a Material Adverse Effect.

  • Criminal Proceedings Any criminal complaint, indictment or criminal proceedings;

  • Actions; Proceedings There are no actions, suits or proceedings pending or, to the knowledge of the Assignor, threatened, before or by any court, administrative agency, arbitrator or governmental body (A) with respect to any of the transactions contemplated by this Assignment Agreement or (B) with respect to any other matter that in the judgment of the Assignor will be determined adversely to the Assignor and will, if determined adversely to the Assignor, materially adversely affect its ability to perform its obligations under this Assignment Agreement.

  • Costs of Proceedings Each party shall pay its own costs and expenses in connection with any legal proceeding (including arbitration), relating to the interpretation or enforcement of any provision of this Exhibit, except that the Company shall pay such costs and expenses, including attorneys' fees and disbursements, of Executive if Executive prevails in such proceeding.

  • Pending Proceedings Borrower is not in default under any law or regulation or under any order of any court, board, commission or agency whatsoever, and there are no claims, actions, suits or proceedings pending or, to the knowledge of Borrower, threatened against or affecting Borrower or the Development, at law or in equity, before or by any court, board, commission or agency whatsoever which might, if determined adversely to Borrower, materially affect Borrower's ability to repay the Loan or impair the security to be given to the County pursuant hereto.

  • Infringement Proceedings Each Party agrees to promptly notify the other Party of any unauthorized use of the other Party's Marks of which it has actual knowledge. Each Party will have the sole right and discretion to bring proceedings alleging infringement of its Marks or unfair competition related thereto; provided, however, that each Party agrees to provide the other Party with its reasonable cooperation and assistance with respect to any such infringement proceedings.

  • Bankruptcy Proceedings The commencement of any proceedings by or against Guarantor under any applicable bankruptcy, reorganization, liquidation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, trustee or other similar official is sought to be appointed for it;

  • Condemnation Proceedings 15.5.1. District covenants and agrees, but only to the extent that it may lawfully do so, that so long as this Site Lease remains in effect, the District will not seek to exercise the power of eminent domain with respect to the Project so as to cause a full or partial termination of this Site Lease and the Facilities Lease. 15.5.2. If for any reason the foregoing covenant is determined to be unenforceable or in some way invalid, or if District should fail or refuse to abide by such covenant, then, to the extent they may lawfully do so, the Parties agree that the financial interest of Developer shall be as indicated in the Facilities Lease.