Events of Default by PURCHASER Sample Clauses

Events of Default by PURCHASER. In case one or more of the following Events of Default by the Purchaser shall occur and be continuing: (a) failure by the Purchaser to duly observe or perform, in any material respect, any other covenants, obligations or agreements of the Purchaser as set forth in this Agreement which failure continues unremedied for a period of thirty (30) days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Purchaser by the Seller; (b) a decree or order of a court or agency or supervisory authority having jurisdiction for the appointment of a conservator or receiver or liquidator in any insolvency, bankruptcy, readjustment of debt, marshalling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against the Purchaser and such decree or order shall have remained in force, undischarged or unstayed for a period of sixty (60) days; (c) the Purchaser consents to the appointment of a conservator or receiver or liquidator in any insolvency, bankruptcy, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Purchaser or relating to all or substantially all of the Purchaser’s property; (d) the Purchaser admits in writing its inability to pay its debts as they become due, file a petition to take advantage of any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors, or voluntarily suspend payment of its obligations; then, and in each and every such case, so long as an event of default shall not have been remedied, the seller, by notice in writing to the purchaser, may, in addition to whatever rights the seller may have at law or equity to damages, including injunctive relief and specific performance, commence termination of all the rights and obligations of the purchaser under this agreement and with respect to (i) the Mortgage Loans for which an agreement has been executed by the parties but said Mortgage Loans have not yet been delivered by the Seller and (ii) the mortgage loans which have been delivered by the Seller to the Purchaser for which payment to the Seller has not been made by the Purchaser and the proceeds thereof. Upon receipt by the Purchaser of such written notice from the Seller as a result of such event of default, the Purchaser shall return to the Seller any and all documents and other instruments provided to the Purchaser ...
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Events of Default by PURCHASER. Any of the following shall be deemed an event of default by PURCHASER (“Event of Default”): (1) Any representation or warranty made by PURCHASER that proves to be false in any material respect; (2) PURCHASER’s failure or refusal to perform, fulfill, or observe any provision in this Contract or State law, or PURCHASER’s breach of any covenant in this Contract; or (3) If PURCHASER has a receiver appointed for all or any significant part of its assets, becomes insolvent, files a petition in bankruptcy or for reorganization, liquidation, or relief under any bankruptcy, insolvency, or debtor laws, or makes an assignment for the benefit of creditors, or if a petition is filed against it in bankruptcy or under insolvency or debtor laws.
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Events of Default by PURCHASER. Each of the following is an Event of Default by Purchaser under this Master Trade Confirmation: (i) Purchaser fails to, or admits to Seller, its inability to, or its intention not to, perform any of its obligations hereunder; (ii) an Act of Insolvency occurs with respect to Purchaser; (iii) any representation made by Purchaser is incorrect or untrue in any material respect when made or repeated or deemed to have been made or repeated; or (iv) Purchaser shall fail to purchase Securities from Seller in accordance with its obligations under this Master Trade Confirmation, or fail to make any other payment due hereunder.
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Events of Default by PURCHASER. Subject to the provisions of Section 11.1 hereof, anyone or more of the following shall constitute an Event of Default by the Purchaser hereunder: (i) Failure by the Purchaser (within ten (10) days of either the occurrence or notice of any event described in Section 11.1 above, whichever is later), to cure such breach, provided however, that if the Purchaser is diligently pursuing such cure, and if in the reasonable judgment of the Seller, there is a reasonable likelihood that such breach will be cured within such sixty (60) day period, then failure to cure such breach shall not be considered to be an Event of Default until the 60th day after such breach has occurred or such notice has been provided, whichever is later.; or (ii) Any Act of Bankruptcy on the part of the Purchaser has occurred prior to satisfaction of the terms and conditions of this Agreement; or (iii) In the event that Purchaser is unable to consummate the transactions contemplated in this Agreement because it is unable to pay the Purchase Price to the Seller as provided herein, unless such failure is due to an Event of Default by Seller.
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Events of Default by PURCHASER. A default will occur under any of the following circumstances: (1) Purchaser’s failure to make any payment, including taxes, when due. (2) Any default under the NFCA Prior Lien attributable to Purchaser. (3) Purchaser’s failure to perform any other obligations contained in this Contract when due.
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Events of Default by PURCHASER. Any of the following shall be deemed an event of default by PURCHASER (“Event of Default”): (1) Any representation or warranty made by PURCHASER that proves to be false in any material respect; (2) PURCHASER’s failure or refusal to perform, fulfill, or observe any provision in this Contract or Laws , or PURCHASER’s breach of any covenant in this Contract; or (3) If PURCHASER has a receiver appointed for all or any significant part of its assets, becomes insolvent, files a petition in bankruptcy or for reorganization, liquidation, or relief under any bankruptcy, insolvency, or debtor laws, or makes an assignment for the benefit of creditors, or if a petition is filed against it in bankruptcy or under insolvency or debtor laws. (4) The State under this contract cannot do business with a corporation or their principals that have been convicted of a felony criminal violation under any Federal law within the preceding 24 months and or have unpaid Federal tax liability. Corporations or their principals subject to this requirement shall provide the appropriate certifications.
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Events of Default by PURCHASER. Any of the following shall be deemed an event of default by PURCHASER (“Event of Default”): (1) Any representation or warranty made by PURCHASER that proves to be false in any material respect; (2) PURCHASER’s failure or refusal to perform, fulfill, or observe any provision in this Contract or State law, or PURCHASER’s breach of any covenant in this Contract; or (3) If PURCHASER has a receiver appointed for all or any significant part of its assets, becomes insolvent, files a petition in bankruptcy or for reorganization, liquidation, or relief under any bankruptcy, insolvency, or debtor laws, or makes an assignment for the benefit of creditors, or if a petition is filed against it in bankruptcy or under insolvency or debtor laws. (4) The State under this contract cannot do business with a corporation or their principals that have been convicted of a felony criminal violation under any Federal law within the preceding 24 months and or have unpaid Federal tax liability. Corporations or their principals subject to this requirement shall provide the appropriate certifications. (5) This sale may be suspended or cancellation if the Forest Service is required to interrupt or cancel operations due to a court order or to comply with NEPA or other legal sanctions. (6) The purchaser and purchaser’s subcontractor shall provide certification regarding debarment, suspension, ineligibility, and voluntary exclusion (AD-1048, as required by the Master Agreement, is sufficient). (7) The State will not conduct business under this agreement with corporations or their principals that have been convicted of a felony criminal violation under any Federal Law within the preceding 24 months and or have unpaid Federal tax liability. Corporation or their principals subject to this requirement shall provide the appropriate certifications.
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Events of Default by PURCHASER. If any of the following events should occur (each herein individually referred to as an "Event of Default"), Seller may declare the entire unpaid principal on this Note, immediately due and payable, by notice in writing to IMSI, without any other presentment, demand, protest or other notice of any kind of character, all of which are hereby expressly waived, anything herein to the contrary notwithstanding:
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Events of Default by PURCHASER. The occurrence of any of the following events shall be deemed a default in the performance of this Agreement (a “Purchaser Event of Default”):
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Related to Events of Default by PURCHASER

  • Events of Default Any of the following shall constitute an Event of Default:

  • Default by Seller In the event that the transaction contemplated by this Agreement fails to close due to Seller's default, Purchaser shall be entitled, as its sole remedy, either: (a) to receive the return of the Deposit, which return shall operate to terminate this Agreement and release Seller from any and all liability hereunder, provided that Seller shall reimburse Purchaser for all reasonable out-of-pocket costs incurred by Purchaser in connection with the negotiation of this Agreement and its inspection of the Property, not to exceed $75,000, plus reimbursement of any fees due pursuant to Section 10.16 hereof or (b) to enforce specific performance of Seller's obligations under this Agreement, it being acknowledged that the Property is unique and that monetary damages would not be an adequate remedy of specific performance shall not be available to enforce any other obligation of Seller hereunder. Purchaser shall be deemed to have elected to terminate this Agreement and receive back the Deposit if Purchaser fails to file suit for specific performance against Seller in a court having jurisdiction in the county and state in which the Property is located, on or before ninety (90) days following the date upon which Closing was to have occurred. If Purchaser timely elects to seek specific performance of this Agreement, then as a condition precedent to any suit for specific performance, Purchaser shall, on or before the Closing Date, time being of the essence, fully perform all of its obligations hereunder which arc capable of being performed (other than the payment of the Purchase Price, which shall be paid as and when required by the court in the suit for specific performance). In addition, notwithstanding any provision to the contrary contained in this Agreement, the parties hereto hereby agree that Seller's aggregate liability for any actual or alleged default or breach of this Agreement (including, without limitation, any breach of a representation or warranty made by Seller hereunder, but excluding any claim based upon Seller failure to close the sale of the Property when legally required to do so as to which Purchaser's sole remedies are set forth in the first sentence of this Section 6.2), or any other claim arising under or relating to this Agreement and/or the Property, shall not exceed the Cap (as defined in Section 5.3 hereof). The foregoing limitation of remedies and liability was separately bargained for and constitutes material consideration for Seller entering into this Agreement.

  • Default by Buyer In the event that this transaction fails to close by reason of any default by Buyer, all Xxxxxxx Money shall be forfeited by Buyer and released from escrow to Seller, which shall be Seller’s sole and exclusive remedy on account of Buyer’s default. Buyer shall only be in default or breach under this Agreement, if Buyer has failed to cure a default hereunder within three (3) business days from Buyer’s receipt of Seller’s written notice to cure such breach; provided that the cure period shall not apply to Buyer's obligation to pay any Xxxxxxx Money, or to Buyer's obligation to close the transaction on the Closing Date. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS AGREEMENT, IF THE SALE OF THE PROPERTY IS NOT CONSUMMATED BY REASON OF A DEFAULT BY BUYER HEREUNDER AFTER SELLER HAS GIVEN BUYER NOTICE AS SET FORTH IN SECTION 16.2 ABOVE, THEN BUYER SHALL HAVE NO FURTHER RIGHT TO PURCHASE ALL OR ANY PORTION OF THE PROPERTY FROM SELLER, AND SELLER SHALL BE ENTITLED TO RECEIVE FROM BUYER THE XXXXXXX MONEY AS SELLER’S LIQUIDATED DAMAGES. THE PARTIES AGREE THAT IT WOULD BE IMPRACTICABLE AND EXTREMELY DIFFICULT TO FIX THE ACTUAL DAMAGES SUFFERED BY SELLER AS A RESULT OF BUYER’S FAILURE TO COMPLETE THE PURCHASE OF THE PROPERTY PURSUANT TO THIS AGREEMENT. IN ADDITION, BUYER DESIRES TO LIMIT THE AMOUNT OF DAMAGES FOR WHICH BUYER MIGHT BE LIABLE SHOULD BUYER BREACH THIS AGREEMENT, AND SELLER DESIRES TO AVOID THE COSTS AND LENGTHY DELAYS THAT WOULD RESULT IF SELLER WERE REQUIRED TO FILE A LAWSUIT TO COLLECT ITS DAMAGES FOR A BREACH OF THIS AGREEMENT. THEREFORE, THE PARTIES AGREE THAT UNDER THE CIRCUMSTANCES EXISTING AS OF THE DATE OF THIS AGREEMENT, THE LIQUIDATED DAMAGES PROVIDED FOR HEREIN REPRESENT A REASONABLE ESTIMATE OF THE DAMAGES WHICH SELLER WILL INCUR AS A RESULT OF SUCH FAILURE, AND SHALL BE SELLER’S SOLE REMEDY, EXCEPT FOR BUYER’S OBLIGATIONS TO INDEMNIFY SELLER AS PROVIDED IN THIS AGREEMENT, WHICH SHALL REMAIN REMEDIES OF SELLER IN ADDITION TO LIQUIDATED DAMAGES. THE PARTIES ACKNOWLEDGE THAT THE PAYMENT OF SUCH LIQUIDATED DAMAGES IS NOT INTENDED TO BE AND SHALL NOT CONSTITUTE A FORFEITURE OR PENALTY, BUT IS INTENDED TO CONSTITUTE AND REPRESENT LIQUIDATED DAMAGES TO SELLER. BY PLACING THEIR INITIALS BELOW, EACH PARTY SPECIFICALLY CONFIRMS THE ACCURACY OF THE STATEMENTS MADE IN THIS SECTION AND THE FACT THAT SUCH PARTY WAS REPRESENTED BY COUNSEL OF ITS OWN CHOOSING WHO, AT THE TIME THIS AGREEMENT WAS MADE, EXPLAINED THE CONSEQUENCES OF THIS SECTION TO IT. THIS SECTION DOES NOT LIMIT BUYER’S OBLIGATIONS WHICH, AS OTHERWISE PROVIDED HEREIN, SURVIVE THE TERMINATION OF THIS AGREEMENT.

  • Events of Default Remedies If any of the following events (each, an “Event of Default”) shall have occurred and be continuing for any reason whatsoever (whether voluntary or involuntary, arising or effected by operation of law or otherwise): (a) any payment of principal of the Loans or the Note shall not be paid when and as due (whether at maturity, by reason of acceleration or otherwise) and in accordance with the terms of this Agreement and the Note; (b) any payment of interest on the Loans or the Note shall not be paid when and as due (whether at maturity, by reason of acceleration or otherwise) and in accordance with the terms of this Agreement and the Note, and such default is not cured within two days; (c) the Borrower shall default in the performance or observance of any other term, covenant or agreement contained herein, and such default shall continue without cure for a period of 30 days after receipt of written notice thereof from the Lender, or any representation or warranty contained herein or therein shall at any time prove to have been incorrect or misleading in any material respect when made; or (d) a case or proceeding shall be commenced against the Borrower, or the Borrower shall commence a voluntary case, in either case seeking relief under any Bankruptcy Law, in each case as now or hereafter in effect, or the Borrower shall apply for, consent to, or fail to contest, the appointment of a receiver, liquidator, custodian, trustee or the like of the Borrower or for all or any part of its property, or the Borrower shall make a general assignment for the benefit of its creditors, or the Borrower shall fail, or admit in writing its inability, to pay, or generally not be paying, its debts as they become due; then during the continuance of any Event of Default (other than any Event of Default specified in clause (d) above), the Lender may by written notice to the Borrower declare, in whole or from time to time in part, the principal of, and accrued interest on, the Loans and the Note and all other amounts owing hereunder to be, and the Loans and the Note and such other amounts shall thereupon and to that extent become, due and payable to the Lender. During the continuance of any Event of Default specified in clause (d) above, automatically and without any notice to the Borrower, the principal of, and accrued interest on, the Loans and the Note and all other amounts payable hereunder shall be due and payable to the Lender and the Commitment shall terminate.

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