Defaults; Enforcement Sample Clauses

Defaults; Enforcement. Failure by a party to perform any of its obligations hereunder shall constitute a default hereunder, entitling the non-defaulting party to terminate this PD Agreement, or to pursue the remedies of specific performance, injunctive relief, and/or damages. Prior to termination of this PD Agreement or any party filing any action as a result of a default by the other party under this PD Agreement, the non-defaulting party exercising such right shall first provide the defaulting party with written notice specifying such default and the actions needed to cure same, in reasonable detail. Upon receipt of said notice, the defaulting party shall be provided a thirty (30) day opportunity within which to cure such default. The cure period may be extended at the sole discretion of the CITY Commission. Upon termination of the PD Agreement, the OWNER shall immediately be divested of all rights and privileges granted hereunder. In the event of a violation of the CITY's Land Development Regulations or Code of Ordinances by the OWNER, the CITY may suspend construction activity and revoke any building permit or development order issued to OWNER, and take all actions necessary to halt construction until such time as the provisions of this PD Agreement are satisfied. In the event legal action is necessary due to a violation by OWNER, and attorney’s fees or other professional fees and costs are incurred by the CITY enforcing compliance with this PD Agreement or its Land Development Regulations at the trial on appellate level, these expenses shall be borne by the OWNER. These penalties are in addition to any other penalties provided by law. In the event of a default by the CITY, which is not cured after receipt of notice and expiration of the cure period, then OWNER shall be entitled to recover all reasonable attorney’s fees and costs incurred, whether at the trial or appellate level. The OWNER agrees that it will abide by the provisions of this PD Agreement, the CITY Comprehensive Plan, and the CITY Land Development Regulations and any applicable CITY Code of Ordinances. In the event of a conflict between this PD Agreement and the CITY’s Land Development Regulations, this PD Agreement shall govern the development of the Subject Property.
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Defaults; Enforcement. The occurrence of any of the following shall be a “Default”: (a) non-payment when due of any principal of the Loans or (within three (3) days of the due date therefor) interest or fees thereon; (b) breach of any term or condition of this Agreement or the Note or any Collateral Document or any other agreement which secures or guaranties the Loans or sets forth any terms or conditions relating to the Loans, which breach is not cured within 30 days after the earlier of (x) the date upon which such breach first becomes known to any member of senior management of the Borrower or (y) the date upon which written notice of such breach is given by the Bank to the Borrower; (c) any representation made by the Borrower or any guarantor in this Agreement or the Note or any Collateral Document or any other agreement which secures or guaranties the Loans or sets forth any terms or conditions relating to the Loans is untrue in any material respect; (d) dissolution, termination, insolvency, or death of the Borrower or any guarantor of the Loans; (e) the institution by or against the Borrower or any guarantor of the Loans of any bankruptcy or similar proceeding for the relief of debtors or the appointment of any receiver for any such party or any of its property which, in the case of an involuntary proceeding, is not stayed or dismissed within 60 days; (f) the making of an assignment for the benefit of creditors by the Borrower or any guarantor of the Loans; or (g) the service of any warrant of attachment, garnishment, or the existence of any tax lien, levy or similar process on or with respect to any material portion of the property of the Borrower or any guarantor of the Loans. Upon the occurrence of any Default, the Bank may, by notice to the Borrower, take either or both of the following actions: (i) terminate the Loan Account and any other obligation of the Bank to extend any further credit hereunder on the date (which may be the date thereof) stated in such notice; and (ii) declare the principal of and accrued interest on the Loans and all other amounts owing under this Agreement to be immediately due and payable, without further demand, presentment, protest, or notice of any kind. When any Default described in clause (d), (e), or (f) above regarding the Borrower has occurred and is continuing, then both principal and interest, and all other amounts payable under this Agreement shall immediately become due and payable without presentment, demand, protest or notice of ...
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Defaults; Enforcement 
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Related to Defaults; Enforcement

  • Default and Enforcement If any Guarantor fails to pay in accordance with Section 11.07 hereof, the Trustee may proceed in its name as trustee hereunder in the enforcement of the Note Guarantee of any such Guarantor and such Guarantor’s obligations thereunder and hereunder by any remedy provided by law, whether by legal proceedings or otherwise, and to recover from such Guarantor the obligations.

  • Specific Enforcement Each party hereto acknowledges that the remedies at law of the other parties for a breach or threatened breach of this Agreement would be inadequate and, in recognition of this fact, any party to this Agreement, without posting any bond, and in addition to all other remedies that may be available, shall be entitled to obtain equitable relief in the form of specific performance, a temporary restraining order, a temporary or permanent injunction or any other equitable remedy that may then be available.

  • Severability; Enforcement If any provision of this Agreement, or the application thereof to any person, place, or circumstance, shall be held by a court of competent jurisdiction to be invalid, unenforceable, or void, the remainder of this Agreement and such provisions as applied to other persons, places, and circumstances shall remain in full force and effect.

  • Governing Law; Enforcement The terms of this Settlement Agreement shall be governed by the laws of the State of California and apply within the State of California. For purposes of this Settlement Agreement only, the Settling Entity stipulates that the Superior Court of California shall have personal jurisdiction over it for the limited and sole purpose of an action to enforce the terms of this Settlement Agreement, brought without joinder of other claims. As an expressed condition of this Settlement Agreement, the Settling Entity waives any exemptions under California Health & Safety Code §25249.6

  • Rights of Enforcement The Agent shall have all of the rights and remedies of a secured party upon default under the UCC, in addition to which the Agent shall have all and each of the following rights and remedies:

  • Patent Enforcement (a) If either Party learns of an infringement, unauthorized use, misappropriation or ownership claim or threatened infringement or other such claim (any of the foregoing, an “infringement”) by a Third Party with respect to any Licensed Technology within the Territory, such Party shall promptly notify the other Party and shall provide such other Party with available evidence of such infringement.

  • Exclusive Enforcement Until the First Priority Obligations Payment Date has occurred, whether or not an Insolvency Proceeding has been commenced by or against any Loan Party, the First Priority Secured Parties shall have the exclusive right to take and continue any Enforcement Action with respect to the Common Collateral, without any consultation with or consent of any Second Priority Secured Party, but subject to the provisos set forth in Sections 3.2 and 5.1. Upon the occurrence and during the continuance of a default or an event of default under the First Priority Documents, the First Priority Representative and the other First Priority Secured Parties may take and continue any Enforcement Action with respect to the First Priority Obligations and the Common Collateral in such order and manner as they may determine in their sole discretion.

  • Governing law and enforcement (a) The choice of English law as the governing law of the Finance Documents will be recognised and enforced in its jurisdiction of incorporation.

  • No Enforcement Actions Notwithstanding Section D of Article V, the Custodian shall not be under any duty or obligation to take action, by legal means or otherwise, to effect collection of any amount, if the Securities upon which such amount is payable are in default, or if payment is refused after due demand or presentation, unless and until (i) it shall be directed to take such action by Written Instructions and (ii) it shall be assured to its satisfaction (including prepayment thereof) of reimbursement of its costs and expenses in connection with any such action.

  • Validity; Enforcement; No Conflicts This Agreement and each Transaction Document to which the Investor is a party have been duly and validly authorized, executed and delivered on behalf of the Investor and shall constitute the legal, valid and binding obligations of the Investor enforceable against the Investor in accordance with their respective terms, except as such enforceability may be limited by general principles of equity or to applicable bankruptcy, insolvency, reorganization, moratorium, liquidation and other similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies. The execution, delivery and performance by the Investor of this Agreement and each Transaction Document to which the Investor is a party and the consummation by the Investor of the transactions contemplated hereby and thereby will not (i) result in a violation of the organizational documents of the Investor or (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Investor is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities or “blue sky” laws) applicable to the Investor, except in the case of clause (ii) above, for such conflicts, defaults or rights which would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the ability of the Investor to perform its obligations hereunder.

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