Defaults and Termination. 7.1 Defaults or Violations If Carrier defaults in the payment of any amount due hereunder, or if Xxxx Atlantic fails to provide Services as agreed hereunder, and such default or failure shall continue for thirty (30) days after written notice thereof, the other company may terminate this agreement with seven (7) days written notice.
Defaults and Termination. In the event Subcontractor interferes with the general progress of the general contract by negligence or delay, or Subcontractor abandons this contract or fails or refuses to furnish labor and materials at and when required under the terms of this subcontract, the Contractor may at its election take over said Subcontract, complete the same or cause the same to be completed and charge all sums of money so expended for the completion of this Subcontract against the Subcontractor, and Subcontractor agrees to reimburse the Contractor for any loss sustained thereby.
Defaults and Termination. In case of default, the non-defaulting party shall issue a default notice to the defaulting party. If the default is not fully set right within three months from the date of issue of the default notice, then in case of default by the Seller, the MPPMCL by giving seven days termination notice in writing, may terminate the agreement. In case of default by MPPMCL, the Seller may in the same way terminate the agreement.
Defaults and Termination.
(a) Subject to the grace periods provided in Section 11 below, if Sublessee shall at any time be in default in the payment of Gross Rent or of any other sum required to be paid by Sublessee under this Sublease, or in the performance of or compliance with any of the terms, covenants, conditions or provisions of this Sublease or the Prime Lease, or if Sublessee breaches or otherwise commits an event of default under the Prime Lease, then and in addition to any other rights or remedies Sublessor may have under this Sublease and at law and in equity, shall have the following rights:
(i) Sublessor shall have the same rights and remedies against Sublessee for default of this Sublease as the Landlord would have against Sublessor as Tenant under the Prime Lease, including, without limitation, the rights of rental acceleration, Sublease termination, retaking possession and damages.
(ii) If Sublessee shall be in default in the payment of Gross Rent or any other sum required to be paid by Sublessee under this Sublease beyond any applicable grace period set forth in Section 11 below, Sublessee shall pay interest on the delinquent amounts at the default interest rate as defined in Section 3.6 of the Prime Lease in addition to any other remedies as set forth in Section 23 of the Prime Lease.
(iii) No waiver by Sublessor of any breach by Sublessee of any of Sublessee's obligation, agreements or covenants herein shall be a waiver of any subsequent breach or of any obligation, agreement of covenant, nor shall any forbearance by Sublessor to seek a remedy for any breach by Sublessee be a waiver by Sublessor of any rights and remedies with respect to such or any subsequent breach.
(iv) If Sublessee shall be in default in the performance of any of its obligations hereunder, Sublessor may (but shall not be obligated to do so), in addition to any other rights it may have in law or equity, cure such default on behalf of Sublessee. In such event, Sublessee shall reimburse Sublessor upon demand, as additional rent, for any costs incurred by Sublessor in curing said defaults, including without limitation reasonable attorneys' fees from the date Sublessor incurs such costs, along with interest from the date Sublessor cures any such default until the date such sum is paid, at the rate specified in Section lO(a)(ii) herein.
(b) If for any reason whatsoever, the Prime Lease should terminate prior to the expiration of the Sublease Term, then this Sublease shall likewise termin...
Defaults and Termination. This Agreement may be terminated without further liability on thirty (30) days prior written notice as follows: (i) by either party upon a default of any covenant or term hereof by the other party, which default is not cured within thirty (30) days of receipt of written notice of default, provided that the grace period for any monetary default is ten (10) days from receipt of notice; or (ii) by either party for any reason or for no reason, provided either party delivers written notice of early termination no later than thirty (30) days prior to the parties election to terminate this Agreement; or (iii) by Business Owner if it does not obtain or maintain any license, permit or other approval necessary for the construction and operation of Encroachment. If either party ("demanding party") has a good faith belief that the other party ("defaulting party") is not complying with the terms of this Agreement, the demanding party shall give written notice of the default (with reasonable specificity) to the defaulting party and demand the default to be cured within ten (10) days of the notice. If the defaulting party is actually in default of this Agreement and fails to cure the default within ten (10) days of the notice, or, if more than ten (10) days are reasonably required to cure the default and the defaulting party fails to give adequate assurance of due performance within ten (10) days of the notice, the demanding party may terminate this Agreement upon written notice to the defaulting party. City may also terminate this Agreement upon written notice to Business Owner in the event that:
a. Business Owner has previously been notified by City of Business Owner's default under this Agreement and Business Owner, after beginning to cure the default, fails to diligently pursue the cure of the default to completion, or
b. Business Owner shall voluntarily file or have involuntarily filed against it any petition under any bankruptcy or insolvency act or law, or
c. Business Owner shall be adjudicated a bankruptcy, or
d. Business Owner shall make a general assignment for the benefit or creditors. Upon termination, City may immediately enter and take possession of the Right-of-way.
Defaults and Termination. 7.1 Valid Grounds for Termination a.) Events of Default
Defaults and Termination. No Target Company has received written notice in the 12 months before the date of this Deed that it is in default of any material obligation under any material contract to which it is a party which would give the counterparty the right to terminate the contract.
Defaults and Termination. Should Tenant breach this Lease Agreement and abandon the Property prior to the natural expiration of the Lease term, City may continue this Lease in effect by not terminating Tenant's right to possession of the Property, in which case City shall be entitled to enforce all City's rights and remedies under this Lease Agreement including the right to recover rent as it becomes due. If Tenant defaults in performance of any covenant, condition, or agreement contained in this Lease Agreement, and the default is not cured within 10 days after written notice by City, then City may terminate this Lease Agreement and bring an action to recover from Tenant the worth at time of award of unpaid rent which had been earned at the time of termination of the Lease Agreement, all amounts necessary to compensate City for all detriment proximately caused by Tenant's failure to perform Tenant's obligations under this Lease Agreement, and such other sums as permitted by law. City may also bring an action, in addition to or in lieu of the foregoing, to reenter and regain possession of the Property in the manner provided by the laws of California. If Tenant becomes insolvent, then City may, by giving 30 days written notice to Tenant, terminate this Lease Agreement and forfeit Tenant's interest in the Property and in any improvements or facilities in, on, or appertaining to the Property. For purposes of this section, Tenant shall be conclusively presumed to have become insolvent if Tenant has a receiver appointed to take possession of all or substantially all of Tenant's property because of insolvency; makes a general assignment for the benefit of creditors; or allows any judgment against Tenant to remain unsatisfied and unbonded for 30 days or longer. Tenant specifically agrees to take all necessary measures during the term of this Lease Agreement to eliminate and xxxxx any adverse effects of Tenant's operations upon residential and/or other property in the vicinity, including without limitation noise, odor, etc. In the event of City's receipt of complaints from any person regarding Tenant's operations hereunder, Tenant agrees to cooperate fully with City to promptly and effectively remove or satisfactorily reduce the noise or other aspect of Tenant's business operations giving rise to the complaint. If such corrective actions by Tenant fail to resolve the problem within five days and complaints continue to be lodged with City, City may, by giving ten days written notice to Tena...
Defaults and Termination. This Agreement may be terminated at any time prior to the Closing Date by you by written notice to the Company if any of the following has occurred: (i) since the respective dates as of which information is given in the Registration Statement and the Prospectus, any material adverse change or development involving a prospective material adverse change in the condition, financial or otherwise, of the Company and its subsidiaries, taken as a whole, or the earnings, affairs, or business prospects of the Company or any of its subsidiaries, taken as a whole, whether or not arising in the ordinary course of business, which would, in your judgment, make it impracticable to market the Shares on the terms and in the manner contemplated in the Prospectus, (ii) any outbreak or escalation of hostilities or other national or international calamity or crisis or change in economic conditions or in the financial markets of the United States or elsewhere that, in your judgment, is material and adverse and would, in your judgment, make it impracticable to market the Shares on the terms and in the manner contemplated in the Prospectus, (iii) the suspension or material limitation of trading in securities on the New York Stock Exchange or the American Stock Exchange or limitation on prices for securities on any such exchange, (iv) the enactment, publication, decree or other promulgation of any federal or state statute, regulation, rule or order of any court or other governmental authority which in your opinion materially and adversely affects, or will materially and adversely affect, the business or operations of the Company or any Subsidiary, (v) the declaration of a banking moratorium by either federal or New York State authorities or (vi) the taking of any action by any federal, state or local government or agency in respect of its monetary or fiscal affairs which in your opinion has a material adverse effect on the financial markets in the United States. The indemnity and contribution provisions and the other agreements, representations and warranties set forth in or made pursuant to this Agreement shall remain operative and in full force and effect, and will survive delivery of and payment for the Shares, regardless of (i) any investigation, or statement as to the results thereof, made by the Underwriter or by or on behalf of the Company or the officers or directors of the Company or any controlling person of the Company, (ii) acceptance of the Shares and payment for them...
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