Defaults by Bank. The occurrence of any one or more of the following events (regardless of the reason therefor) shall constitute an event of default by Bank hereunder:
(a) Bank shall fail to settle NMG Charge Transaction Data and make payment in full therefor within two (2) Business Days after such settlement payment is due pursuant to Section 8.4.
(b) Bank shall fail to make payment in full of any amount set forth on a Monthly Settlement Sheet or Yearly Settlement Sheet when due and payable.
(c) Bank shall fail to make payment in full of any amount due to NMG pursuant to Schedule 7.3(c) within two (2) Business Days after such payment is due pursuant to Schedule 7.3(c).
(d) Bank Parent shall fail to make payment in full of any amount owed under the Bank Guarantee to one or more of the NMG Companies when due and payable.
(e) Any Bank Company or Bank Parent shall no longer be solvent or shall fail generally to pay its debts as they become due or there shall be a substantial cessation of such Bank Company’s or Bank Parent’s regular course of business.
(f) Any regulatory authority having jurisdiction over a Bank Company or Bank Parent shall order the appointment of a custodian, receiver, liquidator, assignee, trustee or sequestrator (or similar official) of such Bank Company or Bank Parent, as the case may be, or of any substantial part of its properties, or order the winding-up or liquidation of the affairs of any Bank Company or Bank Parent, and such order shall not be vacated, discharged, stayed or bonded within sixty (60) days from the date of entry thereof.
(g) Any Bank Company or Bank Parent shall (i) consent to the institution of proceedings specified in paragraph (f) above or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee or sequestrator (or similar official) of such entity or of any substantial part of its properties, or (ii) take corporate or similar action in furtherance of any such action.
(h) Bank shall fail to meet the approval rate targets and other metrics set forth in Schedule 4.6(c) and such failure shall have resulted in a termination right pursuant to the terms of Section 4.6(c).
(i) Primary Servicer shall fail to meet one or more SLAs expressly giving rise to the right to terminate hereunder in accordance with Section 7.3 and Schedule 7.3(c).
(j) As a result of the regulatory status of a Bank Company or Bank Parent or any constraints imposed on a Bank Company or Bank Parent by any Governmental Authority, t...
Defaults by Bank. (a) If for any reason any Bank (a "Defaulting Bank") shall fail to abide by its obligations under this Agreement or under any Loan Document and such failure shall continue for ten (10) Business Days after notice with respect to monetary obligations hereunder or under any Loan Document or thirty (30) days after notice with respect to non-monetary obligations hereunder or under any Loan Document (provided, however, that if such non-monetary default is of a nature that the same cannot be reasonably cured within thirty (30) days and such Bank shall have commenced to cure such non-monetary default within such period and shall thereafter proceed with reasonable diligence and good faith to cure such non-monetary default, such period shall be extended for such longer period as shall be necessary for such Bank to cure such default with all reasonable diligence, but in no event beyond that date which is one hundred twenty (120) days after such Bank received notice of such default), then, in addition to the rights and remedies that may be available to the Agent at law and in equity, such Defaulting Bank's right to participate in the administration of the Loan Documents, including, without limitation, any rights to consent to or direct any action or inaction of the Agent pursuant to Section s 9 or 10 above or otherwise, or to be taken into account in the calculation of Majority Banks, shall be suspended during the pendency of such failure. If for any reason a Bank fails to make timely payment to the Agent of any amount required to be paid to it hereunder (without giving effect to any notice or cure periods), in addition to the other rights and remedies which the Agent may have under this Section 17 or otherwise, the Agent shall be entitled (i) to collect interest from such Bank for the period from the date on which the payment was due at the Federal Funds Effective Rate, for each day during such period, (ii) to withhold or setoff, and to apply to the payment of the defaulted amount and any related interest, any amounts to be paid to such Bank under this Agreement or the Loan Documents, and (iii) to bring an action or suit against such Bank in a court of competent jurisdiction to recover the defaulted amount and any related interest.
(b) In the event a Bank becomes a Defaulting Bank, other Banks who are not Defaulting Banks (the "Current Banks") shall have the right, but not the obligation, in their sole discretion, to acquire (or, if more than one Bank exercises such ...
Defaults by Bank. The occurrence of any one or more of the following events (regardless of the reason therefore) shall constitute an event of default by Bank hereunder:
(a) Bank fails to settle Charge Transaction Data in full within forty-eight (48) hours of the time that such settlement payment is due.
(b) Bank shall no longer be solvent or shall fail generally to pay its debts as they become due or there shall be a substantial cessation of Bank’s regular course of business.
(c) The Federal Deposit Insurance Corporation or any other regulatory authority having jurisdiction over Bank shall order the appointment of a custodian, receiver, liquidator, assignee, trustee or sequestrator (or similar official) of Bank or of any substantial part of its properties, or order the winding-up or liquidation of the affairs of Bank, and such order shall not be vacated, discharged, stayed or bonded within sixty (60) days from the date of entry thereof.
(d) Bank shall (i) consent to the institution of proceedings specified in paragraph (b) above or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee or sequestrator (or similar official) of Bank of any substantial part of its properties, or (ii) take corporate action in furtherance of any such action.
(e) JPMorgan Chase & Co. does not have at least an A rating from two nationally recognized statistical rating organizations, and Kohl’s does not receive reasonable financial assurances from JPMorgan Chase & Co. or Bank of the ability of Bank to perform its obligations under this Agreement.
Defaults by Bank. The occurrence of any one or more of the following events (regardless of the reason therefore) shall constitute an event of default by Bank hereunder:
(a) Bank fails to settle Charge Transaction Data in full when due and the failure continues for two (2) Business Days after receipt of notice by Bank from Dillard's (which notice may be by fax with a confirmation call) that such settlement payment was not received.
(b) Bank shall no longer be solvent or shall fail generally to pay its debts as they become due or there shall be a substantial cessation of Bank's regular course of business.
(c) The Federal Deposit Insurance Corporation or any other regulatory authority having jurisdiction over Bank shall order the appointment of a custodian, receiver, liquidator, assignee, trustee or sequestrator (or similar official) of Bank or of any substantial part of its properties, or order the winding-up or liquidation of the affairs of Bank, and such order shall not be vacated, discharged, stayed or bonded within sixty (60) days from the date of entry thereof.
(d) Bank shall (i) consent to the institution of proceedings specified in paragraph (c) above or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee or sequestrator (or similar official) of Bank of any substantial part of its properties, or (ii) take corporate action in furtherance of any such action.
(e) Bank shall fail to meet one or more SLAs expressly giving rise to the right to terminate hereunder in accordance with Section 5.5 and Schedule 5.2.
Defaults by Bank. The occurrence of any one or more of the following events (regardless of the reason therefore) shall constitute an event of default by Bank:
(a) Bank fails to settle in accordance with Section 7.2, any amount that is not disputed in good faith, within two
Defaults by Bank. 71 14.3 Defaults by the FDS Companies.................................................................. 72 14.4 Remedies for Events of Default................................................................. 73
Defaults by Bank. The occurrence of any one or more of the following events (regardless of the reason therefor) shall constitute an Event of Default by Bank hereunder:
(a) Bank fails to settle FDS Charge Transaction Data and make payment in full therefor within twenty-four (24) hours of the time that such settlement payment is due pursuant to Section 8.4.
(b) CEBA Bank or Citibank, N.A. shall no longer be solvent or shall fail generally to pay its debts as they become due or there shall be a substantial cessation of the regular course of business of CEBA Bank or Citibank, N.A..
(c) The FDIC or any other regulatory authority having jurisdiction over CEBA Bank or Citibank, N.A. shall order the appointment of a custodian, receiver, liquidator, assignee, trustee or sequestrator (or similar official) of such entity or of any substantial part of its properties, or order the winding-up or liquidation of the affairs of such entity, and such order shall not be vacated, discharged, stayed or bonded within sixty (60) days from the date of entry thereof.
Defaults by Bank. 62 15.3 Defaults by Belk or BAR....................................... 63 15.4 Remedies for Events of Default................................ 64
Defaults by Bank. The occurrence of any one or more of the following events (regardless of the reason therefor) shall constitute an Event of Default by Bank hereunder:
(a) Bank fails to settle FDS Charge Transaction Data and make payment in full therefor within twenty-four (24) hours of the time that such settlement payment is due pursuant to Section 8.4.
(b) CEBA Bank or Citibank, N.A. shall no longer be solvent or shall fail generally to pay its debts as they become due or there shall be a substantial cessation of the regular course of business of CEBA Bank or Citibank, N.A.
(c) The FDIC or any other regulatory authority having jurisdiction over CEBA Bank or Citibank, N.A. shall order the appointment of a custodian, receiver, liquidator, assignee, trustee or sequestrator (or similar official) of such entity or of any substantial part of its properties, or order the winding-up or liquidation of the affairs of such entity, and such order shall not be vacated, discharged, stayed or bonded within sixty (60) days from the date of entry thereof.
(d) CEBA Bank or Citibank, N.A. shall (i) consent to the institution of proceedings specified in paragraph (c) above or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee or sequestrator (or similar official) of such entity or of any substantial part of its properties, or (ii) take corporate or similar action in furtherance of any such action.
(e) During the Term, Bank Parent’s senior unsecured debt rating falls to or below BBB+ according to Standard and Poor’s rating system or to or below Baa1 according to Xxxxx’x Investors’ Service rating system, or any such debt rating is withdrawn.
(f) Bank shall fail to meet one or more SLAs expressly giving rise to the right to terminate hereunder.
