Excusable Default Sample Clauses

Excusable Default. If, after either party issues a Notice of Termination for Default to the other party (pursuant to Sections 11 or 13 above, as the case may be), it is determined for any reason that the other party was not in default, or that such default was excusable, then the rights and obligations of the parties shall be the same as if a Notice of Termination for Default had not been given, or at the option of the party issuing the notice, the notice shall be treated as a Notice of Termination for Convenience in accordance with Sections 10 or 12 of this Agreement, as the case may be.
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Excusable Default. City shall not be held in default of this agreement if it is prevented from performing hereunder by conditions entirely beyond its control, such as, but not limited to, acts of God, strikes, war, insufficient allocations of fuel, or other emergencies including existing road conditions making performance impossible or illegal.
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Excusable Default. Notwithstanding anything in this Agreement to the contrary, no default, delay or failure to perform by either party shall be a breach of this Agreement if such default, delay or failure to perform is shown to be due entirely to causes beyond the reasonable control of the defaulting party including, without limitation, labor disputes, inclement weather, default of a common carrier, acts of embargo or of the acts of God.
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Excusable Default. If, after LACERA issues a Notice of Termination for Default pursuant to Section 7.C or Section 7.D above, it is determined for any reason that Consultant was not in default, or that such default was excusable, then the rights and obligations of the parties will be the same as if LACERA had issued a Notice of Termination for Convenience pursuant to Section 7.B.
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Excusable Default. If, after FCERA issues a Notice of Termination for Default pursuant to Section 6.C or Section 6.D above, it is determined for any reason that AUDITOR was not in default, or that such default was excusable, then the rights and obligations of the parties will be the same as if FCERA had issued a Notice of Termination for Convenience pursuant to Section 6.B.
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Excusable Default. If, after either party issues a Notice of Termination for Default to the other party (pursuant to Sections C. and E. above, as the case may be), the issuing party determines for any reason that the other party was not in default, or that such default was excusable, then the rights and obligations of the parties shall be the same as if a Notice of Termination for Default had not been issued.
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Excusable Default. If, after FCERA issues a notice of termination for default, it is determined for any reason that TEGRIT was not in default, or that such default was excusable, then the rights and obligations of the parties shall be the same as if FCERA had issued a notice of termination for convenience.
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Related to Excusable Default

  • Notice of Event of Default If the Mortgagee shall have Actual Knowledge of an Event of Default or of a Default arising from a failure to pay Rent, the Mortgagee shall give prompt written notice thereof to the Owner Trustee, the Owner Participant, Lessee, and each Note Holder. Subject to the terms of Sections 2.13, 4.03, 4.04, 4.08, 5.02 and 5.03 hereof, the Mortgagee shall take such action, or refrain from taking such action, with respect to such Event of Default or Default (including with respect to the exercise of any rights or remedies hereunder) as the Mortgagee shall be instructed in writing by a Majority in Interest of Note Holders. Subject to the provisions of Section 5.03, if the Mortgagee shall not have received instructions as above provided within 20 days after mailing notice of such Event of Default to the Note Holders, the Mortgagee may, subject to instructions thereafter received pursuant to the preceding provisions of this Section 5.01, take such action, or refrain from taking such action, but shall be under no duty to take or refrain from taking any action, with respect to such Event of Default or Default as it shall determine advisable in the best interests of the Note Holders; PROVIDED, HOWEVER, that the Mortgagee may not sell the Aircraft or any Engine without the consent of a Majority in Interest of Note Holders. For all purposes of this Trust Indenture, in the absence of Actual Knowledge on the part of the Mortgagee, the Owner Trustee or the Owner Participant, the Mortgagee, the Owner Trustee or the Owner Participant, as the case may be, shall not be deemed to have knowledge of a Default or an Event of Default (except, in the case of the Mortgagee, the failure of Lessee to pay any installment of Basic Rent within one Business Day after the same shall become due, if any portion of such installment was then required to be paid to the Mortgagee, which failure shall constitute knowledge of a Default) unless notified in writing by Lessee, the Owner Trustee, the Owner Participant or one or more Note Holders.

  • Default; Breach A “Default” is defined as a failure by the Lessee to comply with or perform any of the terms, covenants, conditions or Rules and Regulations under this Lease. A “Breach” is defined as the occurrence of one or more of the following Defaults, and the failure of Lessee to cure such Default within any applicable grace period:

  • No Event of Default No Default or Event of Default has occurred and is continuing.

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