Default under Transaction Documents Clause Samples
The "Default under Transaction Documents" clause defines what constitutes a default or breach of obligations under the agreements related to a specific transaction. Typically, this clause outlines the specific actions or failures—such as missed payments, failure to deliver goods, or violation of covenants—that would trigger a default. It often applies to all key documents governing the transaction, ensuring that a breach in any one of them can have consequences under the main agreement. The core function of this clause is to provide a clear framework for identifying and responding to defaults, thereby protecting the parties by allowing for remedies such as acceleration of obligations or termination if a default occurs.
Default under Transaction Documents. None of Parent or any of the Subsidiaries is in default under any of the contracts described in the Registration Statement, the Time of Sale Information and the Prospectus, has received a notice or claim of any such default or has knowledge of any breach of such contracts by the other party or parties thereto, except such defaults or breaches as would not, individually or in the aggregate, have a Material Adverse Effect.
Default under Transaction Documents a material default under any of the Transaction Documents which, if capable of being remedied, has not been remedied within thirty (30) days in the case of any Financing Document and ninety (90) days in the case of any Project Contract in each case of notification by the Agent of such default;
Default under Transaction Documents. The Company or any Subsidiary materially breaches the terms of any of the Transaction Documents, except, in the case of a breach (or the effect thereof) that is curable, only if such breach remains uncured for a period of twenty (20) days following the Collateral Agent’s (as defined in the Security Agreement) written notice to the Company of such breach.
Default under Transaction Documents. The Borrower shall fail to perform or observe any term, covenant or agreement contained in this Agreement or any other Transaction Document (in each case, not otherwise specified in Subsections (a), (b) and (c) above) to which such Person is a party, to be performed or observed by the Borrower and such failure remains unremedied for thirty (30) days after the earlier of (i) receipt by Borrower of written notice from the Agent of such default and (ii) any Responsible Officer of the Borrower obtaining actual knowledge of such default, provided that the Agent, in its sole discretion, may extend the foregoing grace period based on a satisfactory plan being submitted by the Borrower to cure such failure;
Default under Transaction Documents. (i) Any Project Party shall fail to perform or observe any of the terms or conditions of any Transaction Document or any Material Contract to which it is a party, or shall breach or otherwise be in default under any such Transaction Document or any Material Contract (as the case may be), if such failure, breach or default, either singly or in the aggregate, could reasonably be expected to have a Material Adverse Effect, beyond any applicable grace period expressly provided for in such Transaction Document or (ii) any Transaction Document shall for any reason cease to be in full force and effect in all material respects prior to the scheduled termination date thereof or (iii)(a) the term of any Transaction Document shall expire, (b) such Transaction Document is material to the operation of the business of any Issuer Party, and (c) Issuer Parties do not continue to enjoy all rights and benefits of such contractual arrangement or such Transaction Document is not replaced with a Transaction Document in accordance with subsection 7.11.
Default under Transaction Documents. Section 9.04 is amended by inserting the words "or in any Transaction Document" after the words "in this Agreement".
Default under Transaction Documents. The occurrence and continuance of any Event of Default (or similar term) as defined in any of the Transaction Documents. DEFAULT RELATED PROVISIONS
Default under Transaction Documents. (i) The Borrower shall fail to perform or observe any other term, covenant or agreement contained in this Agreement or any other Transaction Document (in each case, not otherwise specified in this Section 7), and such failure remains unremedied for seven (7) Business Days (or five (5) Business Days with respect to Section 5(b)(ii)), subject to clause (t) below with respect to Section 5(b)(i); (ii) there occurs any “Event of Default” (as defined in the Repurchase Agreement) under the Repurchase Agreement as to which the Borrower is the defaulting party; or (iii) the Borrower shall fail to perform or observe any term, covenant or agreement contained in any other agreement between the Agent, the Lender or any of their respective Affiliates, on the one hand, and the Borrower, on the other hand, to be performed or observed by the Borrower, and (x) such failure remains unremedied for fifteen (15) days, or (y) the effect of such failure is to cause the obligations of the Borrower thereunder to be accelerated, demanded or to become due, or with respect to any Swap Contract with the Agent, the Lender or any of their respective Affiliates, to cause the occurrence of an “Early Termination Date” thereunder; or
Default under Transaction Documents. An Event of Default (as defined in the Lease) shall occur or Debtor shall fail to observe any other term or condition of the Transaction Documents (after giving effect to any grace or cure periods) or there shall otherwise occur any event which would permit Secured Party to accelerate amounts outstanding thereunder.
Default under Transaction Documents. The Borrower or any Permitted Subsidiary shall fail to perform or observe any other term, covenant or agreement contained in this Agreement (other than Section 7) or any other Transaction Document (in each case, not otherwise specified in Subsections (a) to (d) above) to which such Person is a party, to be performed or observed by the Borrower or any Permitted Subsidiary and such failure remains unremedied for fifteen (15) days after the Borrower or the Permitted Subsidiary has knowledge thereof;