Default; Remedies Upon Default. (a) Lessee shall be in default of this Agreement if it: (i) fails to pay rent or any other charges arising under this Agreement when due, (ii) fails to perform any of its other material obligations under this Agreement or under any other agreement between Lessee and CAI, (iii) ceases doing business, becomes insolvent, makes an assignment for the benefit of creditors, commits an act of bankruptcy, or becomes the subject of any voluntary or involuntary proceedings under any applicable Bankruptcy Act, or (iv) is seized or nationalized, or has any material portion of its assets seized by any government or entity acting under color of law.
(b) If Lessee defaults under this Agreement and fails to correct such default(s) within fifteen (15) days of the date of CAI’s notice of default and demand for cure, then CAI may, without releasing Lessee from any of its obligations under this Agreement: (i) terminate this Agreement and any other contracts in effect between CAI and Lessee, (ii) demand immediate redelivery of all CAI containers on lease to Lessee, (iii) declare due and payable all amounts owed to CAI under this Agreement and all other contracts in effect between Lessee and CAI, including reasonable attorney’s fees and costs, (iv) repossess any containers not returned within twenty (20) days of CAI’s demand for redelivery, free of any claims of Lessee or parties claiming through Lessee, (v) assert maritime or other liens against Lessee’s property wherever it may be found, (vi) xxx for and collect all damages provable by CAI under applicable law, and (vii) exercise any other right or remedy available to CAI at law, in equity or in admiralty. Lessee agrees that CAI will be entitled to collect as part of its damages arising from a default by Lessee under this Agreement, a Remarketing Fee equal to three months’ rental charges for each Container covered under this Agreement at the time of Lessee’s default as a reasonable estimate of the time and expense required to locate a new lessee for such Containers. Each remedy shall be cumulative to all other remedies available: to CAI. Lessee shall be liable to CAI for the Replacement Value of any container not redelivered by Lessee or repossessed by CAI within twenty (20) days of CAI’s demand for redelivery. Furthermore, the rental payable for each container not recovered by CAI within twenty days of CAI’s demand for redelivery will increase to the spot lease rates charged by CAI for like-type containers at the time of Less...
Default; Remedies Upon Default. A. Any of the following events will constitute an "Event of Default" under the Agreement: (i) non-payment of any amounts due hereunder to BISYS by Client; (ii) non-performance of any of Client's or BISYS' other material obligations hereunder; (iii) if any representation or warranty of Client or BISYS is materially breached; (iv) if Client or BISYS files a petition for bankruptcy or becomes the subject of an involuntary bankruptcy petition which is not vacated within 60 days of filing, or becomes insolvent; or (v) if any substantial part of Client's or BISYS' property becomes subject to any levy, seizure, assignment, application or sale for or by any creditor or governmental agency.
B. Upon occurrence of an Event of Default under the Agreement, the non-defaulting party may, at its option, terminate this Agreement provided at least 30 days (or longer period as may be required by the applicable regulatory authorities) prior written notice has been given to the other and such default has not been cured within such period. Upon such termination by BISYS, BISYS may declare all amounts due and to become due hereunder immediately due and payable. The remedies contained in this Paragraph 16 are cumulative and in addition to all other rights and remedies available to the parties under this Agreement or by operation of law or otherwise.
Default; Remedies Upon Default. (a) What is an event of default? You commit an event of default under this Agreement if (i) you fail to pay any charges when due under the Quote or this Agreement and you do not remedy your failure within two
Default; Remedies Upon Default. (a) (i) Upon (A) the nonpayment of the whole or any part of any of the amounts described in Subsection 1(b) hereof (including the Payments) at the time when the same are to be paid as provided herein or in the Trust Agreement, (B) the violation by City of any other covenant or provision of this Agreement or the Trust Agreement, (C) the occurrence of an event of default with respect to the First Purchase Agreement or any Additional Revenue Obligations or (D) the insolvency or bankruptcy of City as the same may be defined under any law of the United States of America or the State, or any voluntary or involuntary action of City or others to take advantage of, or to impose, as the case may be, any law for the relief of debtors or creditors, including a petition for reorganization, and
Default; Remedies Upon Default. (a) What is an event of default? You commit an event of default under this Agreement if (i) you fail to pay any charges when due under this Agreement and you do not remedy your failure within two (2) business days of the date that we notify you in writing of your failure; (ii) you fail to perform any other obligation under this Agreement and you do not remedy your failure within five (5) business days of the date that we notify you in writing of your failure; or (iii) you cease doing business, have a liquidator, administrator, receiver and manager, controller or other like officer appointed over any or all of your assets, become insolvent, commit an act of bankruptcy or become the subject of any proceeding under any bankruptcy act, or its counterpart under the law of Australia or any territory outside of the jurisdiction of Australia.
(b) If a charge to any nominated credit card, direct debit or other manner of payment is not honoured, then you will be liable for an administration fee as fairly determined by us from time to time, without limiting our rights upon such default.
(c) What are our rights after an event of default? If an event of default occurs, we may (but are not obliged to) immediately and without releasing you from any accrued obligations do one or more of the following (i) terminate this Agreement; (ii) declare the balance of the charges due and payable by you (discounted by our cost of borrowing), and we will refund any amounts we obtain from re-hiring the Equipment during the balance of the agreed hire period; (iii) retake possession of the Equipment; and (iv) remedy any default that you commit under this Agreement (at your cost).
(d) Right to terminate on 30 days notice: We are also entitled to terminate this Agreement at any time on giving 30 days’ written notice.
(e) Your rights to use the Equipment cease. On termination of this Agreement you must immediately return the Equipment to us and pay us all charges owing under this Agreement, and any legal fees to recover possession of the Equipment. We will be entitled to treat any Equipment not returned at the end of an agreed hire period as stolen.
Default; Remedies Upon Default. 6.1 The terms of Article 9.0 of the Master Contract (Events of Default and Remedies) govern this VAAPFAP Funding Agreement. The following are additional Events of Default for this VAAPFAP Funding Agreement:
a. The Community’s failure to provide the annual local financial assistance pledged for the Project as described in Master Contract Exhibit C, Project Description.
b. No other specific default events.
6.2 The following are Default Remedies available to IDED in addition to those specified in the Master Contract:
Default; Remedies Upon Default. 10.1 Should Client (i) default in the payment of any sum of money hereunder, (ii) default in the performance of any of its other obligations under this Contract, (iii) become the subject of any proceeding under the Bankruptcy Code or become insolvent, or (iv) have any substantial part of its property become subject to any levy, seizure, assignment, application or sale for or by any creditor or governmental agency, OSS, at its option, may, upon at least ten (10) days advance written notice thereof, terminate this Contract and declare all amounts immediately due and payable. The remedies contained in this paragraph 10.1 are cumulative and are in addition to all other rights and remedies available to OSS under this Contract or at law or in equity. Conversely, should OSS fall into any of the above situations, the same remedies will apply on behalf of Client, at their option.
10.2 In the event either party defaults in the performance of this Contract, the other, not in default, shall have such remedies, including cancellation of this Contract, as may be appropriate at law or in equity; provided, however, that no legal action shall be brought by. either party unless the other shall have been given at least forty-five (45) days notice in writing specifying the alleged breach thereof and if during said time such breach is cured or remedied no such action shall exist
Default; Remedies Upon Default. 18.1 If either party materially breaches or defaults on its obligations hereunder, other than SLA commitment failures as set forth in Schedule C for which there is pre-set penalty, and if that breach or default, if curable, is not corrected within ten (10) days after receiving notice thereof in writing, then the non-breaching or non-defaulting party may, at its option and in addition to any other remedies it may have, terminate this Agreement. In addition, this Agreement may be immediately terminated by either party upon CheckFree Services Corporation Law Department - 8 - 08-Sep-2004 written notice to the other party: (i) upon the institution by the other party of insolvency, receivership or bankruptcy proceedings or any other act of bankruptcy or proceedings for the settlement of its debts; (ii) upon the institution of bankruptcy proceedings against the other party, which are not dismissed or otherwise resolved in its favor within ninety (90) days thereafter; (iii) upon the other party making a general assignment for the benefit of creditors, whether voluntary or involuntary, or calling a general meeting of the party’s creditors for purposes of compromising any of the party’s debts; or (iv) upon the other party dissolving, liquidating, winding up, or ceasing to conduct business. The remedies contained in this paragraph 18.1 are cumulative and are in addition to all other rights and remedies available to the non-defaulting party under this Agreement or at law or in equity.
18.2 Upon the expiration or termination of this Agreement: (i) each party immediately shall pay to the other all undisputed amounts due hereunder; (ii) each party immediately shall cease all use of the other party’s Marks, and within thirty (30) days after the expiration or termination shall return or destroy all Confidential Information from the other party (other than CheckFree retaining copies of Reseller Data or Users’ Data in order to fulfill its obligations under this Agreement and as required by applicable law, rule or regulation) and, if requested certify that it has complied with the foregoing; and (iii) Reseller shall remove all links to the CheckFree Services from Client sites.
Default; Remedies Upon Default. (a) (i) Upon (A) the nonpayment of the whole or any part of any of the Payments at the time when the same is to be paid as provided herein or in the Trust Agreement; (B) the violation by Town of any other covenant or provision of this Agreement or the Trust Agreement; (C) the occurrence of an event of default with respect to any of the Sixth Loan Repayment Agreement, the Second Purchase Agreement, the Third Purchase Agreement, the Fourth Purchase Agreement or the other of the Parity Lien Obligations; or (D) the insolvency or bankruptcy of Town as the same may be defined under any law of the United States of America or the State, or any voluntary or involuntary action of Town or others to take advantage of, or to impose, as the case may be, any law for the relief of debtors or creditors, including a petition for reorganization, and
Default; Remedies Upon Default. (a) (i) Upon (A) the nonpayment of the whole or any part of any of the amounts described in Section 1(c) hereof (including the Payments) at the time when the same are to be paid as provided herein or in the Trust Agreement, (B) the violation by Town of any other covenant or provision of this Agreement or the Trust Agreement, (C) the occurrence of an event of default with respect to, unless the pledge of Excise Tax Revenues and State Shared Revenues has been released by the terms of the Parity Loan Agreements (WIFA), the Parity Loan Agreements (WIFA) and any Additional Revenue Obligations, or
