EVENTS OF DEFAULT WITH RESPECT TO THE COMPANY. The occurrence at any time with respect to the Company of any of the following events constitutes an event of default (an “Event of Default”) with respect to the Company (the “Defaulting Party”):
EVENTS OF DEFAULT WITH RESPECT TO THE COMPANY Sample Clauses
Related to EVENTS OF DEFAULT WITH RESPECT TO THE COMPANY
Events of Default by Either Party It shall constitute an event of default (“Event of Default”) by either Party hereunder if:
Notice of Events of Default The Issuer shall give a Responsible Officer of the Indenture Trustee and each Rating Agency prompt written notice of each Event of Default hereunder and each default on the part of the Servicer or the Seller of its obligations under the Sale and Servicing Agreement.
Events of Default and Termination 13.1 If:
Events of Default Any of the following shall constitute an Event of Default:
Events of Default Remedies If any of the following events (“Events of Default”) shall occur:
Events of Default by Seller In addition to the Events of Default described in Section 9.1, each of the following shall constitute an Event of Default by Seller hereunder:
Termination and Default Either party, upon determination that the other party has failed or refused to perform or is otherwise in breach of any obligation or provision under this Agreement or the Contract Document, may give written notice of default to the defaulting party in the manner specified for the giving of notices herein. Termination of this Agreement by either party for any reason shall have no effect upon the rights or duties accruing to the parties prior to termination.
Remedies Upon Event of Default If any Event of Default occurs and is continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any or all of the following actions:
Events of Default and Remedies Section 8.01
Rights Upon Event of Default (a) As long as an Event of Default under this Agreement remains unremedied, Holders of not less than 50% of the outstanding Class Principal Balance of the Original Notes (in each case the outstanding Class Principal Balance of the Original Notes will be determined without regard to any exchanges of Class M Notes for MAC Notes) to which such Event of Default relates may, by written notice to Freddie Mac, declare such Notes due and payable and accelerate the maturity of such Notes. In the event that Class M Notes have been exchanged for MAC Notes, Holders of such MAC Notes will be entitled to exercise all the voting or direction rights that are allocated to such exchanged Class M Notes as described herein. Upon such acceleration, the Class Principal Balance of such Notes and the interest accrued thereon shall be due and payable.
