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Default Remedies Sample Clauses

Default Remedies. (a) If an Event of Default (other than an insolvency Event of Default) has occurred and is continuing, the Lender, by notice to the Company, may declare the Loan Amount of this Note and all accrued interest thereon to be immediately due and payable, and upon any such declaration, such Loan Amount and accrued interest shall thereupon become due and payable immediately within five (5) business days from the Lender’s written request. In the event the Company fails to pay all outstanding Amounts within this five (5) business day period, the interest rate on the unpaid and outstanding Loan Amount of this Note shall be increased to, and this Note shall bear interest at, a monthly rate equal to one and a half percent (1.5%) or to the maximum rate permitted by law (the "Default Rate") from the expiration of the five (5) business day period until such unpaid and outstanding Loan Amount of this Note is repaid in full. If an insolvency Event of Default has occurred, the Loan Amount of this Note and accrued Interest thereon will become immediately due and payable without any declaration or any act on the part of any Lender. Such declaration of acceleration may be rescinded and past defaults may be waived by the Lender. (b) No course of dealing or delay or failure on the part of the Lender to exercise any right under this Section shall operate as a waiver of such right or otherwise prejudice the Lender’s rights, powers and remedies. The Company will pay or reimburse the Lender, to the extent permitted by law, for all reasonable costs and expenses, including but not limited to reasonable attorneys’ fees, incurred by the Lender in collecting any sums due on this Note or in otherwise enforcing any of the Lender's rights hereunder. (c) No right or remedy herein conferred upon the Lender is intended to be exclusive of any other right or remedy contained herein or existing at law, in equity, by statute or otherwise, and every such right or remedy shall be cumulative and shall be in addition to every other such right or remedy contained herein and therein or now or hereafter existing at law, in equity, by statute or otherwise.
Default Remedies a. Each of the following shall constitute an event of default (“Event of Default”) under this Agreement: 1) Contractor fails or refuses to perform or observe any term, covenant or condition contained in any of the following Sections of this Agreement:
Default Remedies. If Contributor defaults in performing any of Contributor’s obligations under this Agreement, the Operating Partnership shall have all rights and remedies available to it at law or in equity resulting from Contributor’s default, including without limitation, the right to seek specific performance of this Agreement and Contributor’s obligation to convey the Contributed Interests to the Operating Partnership hereunder. The parties acknowledge and agree that the failure of a condition precedent to occur, notwithstanding the good faith and commercially reasonable efforts of the applicable party, shall not be a default hereunder.
Default Remedies. The obligations of each Guarantor hereunder are independent of and separate from the Obligations. If any Obligation is not paid when due, or upon any Event of Default hereunder or upon any default by the Borrower as provided in any other instrument or document evidencing all or any part of the Obligations, the Administrative Agent may, at its sole election, proceed directly and at once, without notice, against any Guarantor to collect and recover the full amount or any portion of the Obligations then due, without first proceeding against the Borrower or any other guarantor of the Obligations, or against any Collateral under the Loan Documents or joining the Borrower or any other guarantor in any proceeding against any Guarantor. At any time after maturity of the Obligations, the Administrative Agent may (unless the Obligations have been irrevocably paid in full), without notice to any Guarantor and regardless of the acceptance of any Collateral for the payment hereof, appropriate and apply toward the payment of the Obligations (a) any indebtedness due or to become due from any Guarantied Party to such Guarantor and (b) any moneys, credits or other property belonging to such Guarantor at any time held by or coming into the possession of any Guarantied Party or any of its respective Affiliates.
Default Remedies. 15.1 Events of Default ................................................................................................
Default Remedies. (a) If a Credit Agreement Event of Default has occurred and is continuing: (i) the Agent, in addition to all other remedies available at law or in equity, shall have the right forthwith to enter upon any Property (or any other place where any component of any Property is located at such time) without charge, and take possession of all or any portion of the Trust Property, and to re-let the Trust Property and receive the rents, issues and profits thereof, to make repairs and to apply said rentals and profits, after payment of all necessary or proper charges and expenses, on account of the amounts hereby secured (subject to the Excepted Payments); and (ii) the Agent, shall, as a matter of right, be entitled to the appointment of a receiver for the Trust Property, and the Borrower hereby consents to such appointment and waives notice of any application therefor. (b) If a Credit Agreement Event of Default has occurred and is continuing, the Agent may proceed by an action at law, suit in equity or other appropriate proceeding, to protect and enforce its rights, whether for the foreclosure of the Lien of this Security Agreement, or for the specific performance of any agreement contained herein or for an injunction against the violation of any of the terms hereof. The proceeds of any sale of any of the Trust Property shall be applied pursuant to Section 8.7 of the Participation Agreement. In addition, the Agent may proceed under Section 11 hereof. (c) The Borrower hereby waives the benefit of all appraisement, valuation, stay, extension and redemption laws now or hereafter in force and all rights of marshalling in the event of any sale of the Trust Property or any portion thereof or interest therein.
Default Remedies. (a) If Licensee at any time defaults in the payment of any sum due after the Effective Date when due hereunder and fails to make such payment within fifteen (15) days after receipt of written notice thereof by Institute, Institute may, at its option, terminate this Agreement and all licenses granted herein by notice in writing to such effect. (b) If either Party at any time materially defaults in the making of any report hereunder, or commits any material breach of any of the terms, covenants or provisions of this Agreement, or makes any materially false report and fails to remedy any such default, breach or report within thirty (30) days after receipt of written notice thereof by the non-breaching Party, the non-breaching Party may, at its option, terminate this Agreement after an additional 30 day cure period to remedy the breach or default by notice in writing to such effect but only if the non-breaching Party first complies with the terms of Section 7.2(c) below. Termination will be effective within five (5) business days of the date of receipt by breaching Party of the notice of termination. † DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED SEPARATELY WITH THE COMMISSION (c) Any dispute under this Agreement other than a dispute arising from a breach of confidentiality, infringement of intellectual property rights or the failure to pay any amount that is readily determinable pursuant to the terms of this Agreement, shall be resolved in accordance with the following procedure: (i) Either Party may at any time provide the other Party written notice specifying the terms of such disagreement in reasonable detail. As soon as practicable after receipt of such notice, the President of Licensee and a designated officer with appropriate settlement authority from the Institute shall meet at a mutually agreed upon time and location for the purpose of resolving the dispute. They shall engage in good faith discussions and/or negotiations for a period of up to ten (10) days to resolve the disagreement or negotiate an interpretation or revision of the applicable portion of this Agreement which is mutually agreeable to both Parties, without the necessity of formal procedures relating thereto. During the course of such discussion and/or negotiation, the parties shall reasonable cooperate and provide information that is not materially confidential in order so that each of the Parties may be fully informe...
Default Remedies. If an Event of Default exists, Secured Party may, at its election (but subject to the terms and conditions of the Credit Agreement), exercise any and all Rights available to a secured party under the UCC and other applicable law, in addition to any and all other Rights afforded by the Loan Documents, at law, in equity, or otherwise including, without limitation, (a) requiring Debtor to assemble all or part of the Collateral and make it available to Secured Party at a place to be designated by Secured Party which is reasonably convenient to Debtor and Secured Party, (b) to the extent permitted by Debtor’s insurance carrier, surrendering any policies of insurance on all or part of the Collateral and receiving and applying the unearned premiums as a credit on the Obligations, (c) applying by appropriate judicial proceedings for appointment of a receiver for all or part of the Collateral (and Debtor hereby consents to any such appointment), and (d) applying to the Obligations any cash held by Secured Party under this Security Agreement, including, without limitation, any cash in the Cash Collateral Account (defined in Section 8(h)).
Default Remedies. 9.1 A default hereunder shall include any of the following: (a) Any promise, covenant, representation or warranty by any party hereto contained herein shall prove to be materially false, untrue or incorrect when made, or shall contain a material omission, the absence of which renders said representation, warranty, promise or covenant materially misleading. (b) Any party shall fail to timely and fully perform any of its obligations, promises, representations, warranties or covenants set forth herein. If the Committee defaults on its obligations under Exhibit C, such default shall constitute a default hereunder by the Debtors. 9.2 If a default shall occur and if such default shall continue unremedied for a period of ten (10) days after notice thereof has been provided to the defaulting party and to the Committee, the non-defaulting party shall have and may exercise all rights available to it at law or equity. 9.3 Because of the difficulty in ascertaining the damages which may be suffered by the Debtors if Xxxxxx breaches the provisions of sections 8.2 or 8.3, Xxxxxx agrees that equitable relief, including a temporary or permanent injunction, is proper to redress his actual or threatened breach of sections 8.2 or 8.3 of this Agreement. 9.4 In any action to enforce the provisions of this Agreement, the prevailing party shall be entitled to recover from the defaulting party the prevailing party's actual costs of enforcement of this Agreement, including attorneys fees and other costs of suit. 9.5 If the Approval Order has not been entered by August 25, 2000, or if the Closing Date has not occurred by September 30, 2000 (or, in each case, such later date or dates as may be agreed upon by the Debtors, Xxxxxx and the Committee), then either the Debtors, Xxxxxx or the Committee shall have the right to terminate this Agreement (and the letter agreement substantially in the form of Exhibit C) which termination shall occur automatically upon the giving of notice of such termination to the other parties in accordance with the notice provisions hereof. A party that is in default shall not be entitled to elect to terminate this Agreement or Exhibit C based upon the failure of the Approval Order to be entered or the Closing Date to occur by the dates set forth above in this Section 9.5 (or such later dates as may be agreed upon by the Debtors, Xxxxxx and the Committee).
Default RemediesIn case an Actionable Default shall have occurred and be continuing, the Secured Party shall be entitled to exercise all of the rights, powers and remedies (whether vested in it by this Agreement or any other Credit Transaction Document, or by law, and including, without limitation, all rights and remedies of a secured party of a debtor in default under the Code) for the protection and enforcement of its rights in respect of the Collateral, and the Secured Party shall be entitled, without limitation, to exercise the following rights, which the Pledgor hereby agrees to be commercially reasonable: (i) upon the declaration by the applicable Participating Creditor of any or all of the Obligations to be immediately due and payable or upon any or all of such Obligations otherwise becoming due and payable, to foreclose or otherwise enforce the Secured Party's security interest in or other Lien hereunder on any or all of the Collateral in any manner permitted by law or provided for in this Agreement; (ii) to recover from the Pledgor all cost and expenses, including, without limitation, reasonable attorney's fees, incurred or paid by or on behalf of the Secured Party in exercising or enforcing any right, power, or remedy with respect to any or all of the Collateral provided to the Secured Party by this Agreement or by applicable law; (iii) to receive all amounts payable in respect of the Collateral otherwise payable under Section 7 to the Pledgor and to enforce the payment of the Pledged Securities and to exercise all of the rights, powers, and remedies of the Pledgor thereunder; (iv) to transfer all or any part of the Collateral into the Secured Party's name or the name of its nominee or nominees; (v) to vote all or any part of the Collateral (whether or not transferred into the name of the Secured Party) and give all consents, waivers and ratifications in respect of the Collateral and otherwise act with respect thereto as though it were the outright owner thereof; (vi) at any time or from time to time to sell, assign and deliver, or grant options to purchase, all or any part of the Collateral in one or more parcels, or any interest therein, at any public or private sale at any exchange, broker's board or at any of the Secured Party's offices or elsewhere, without, to the fullest extent permitted by law, demand of performance or advertisement of intention to sell or of the time or place of sale or adjournment thereof or to redeem or otherwise (all of which are her...