Failure by Party Clause Samples

Failure by Party. A to provide a new security as acceptable to Party B upon any of the following cases on the part of the Mortgagor, shall be deemed a breach on the part of Party A: 10.1.3.1 Failure by the Mortgagor to take out or procure the property insurance for the mortgaged objects, or failure of the Mortgagor to deal with issues relating to the insurance indemnity as agreed in the Mortgage Agreement, upon any insurance accident; 10.1.3.2 Failure of the Mortgagor to deal with issues relating the damages in accordance with the Mortgage Agreement upon the damage to, loss of or decrease in the value of, the mortgaged objects by virtue of the act on the part of any third party; 10.1.3.3 In the absence of consent from the Party B in writing, gifts, assignment, lease out, overlay mortgage, relocation, or otherwise disposition of the mortgaged objects on the part of Mortgagor; 10.1.3.4 The Mortgagor disposes of the mortgaged objects with the permission of Party B, but fails to apply the proceeds from such disposition as stipulated in the Mortgage Agreement; 10.1.3.5 The Mortgagor fails to reinstate the value of the mortgaged objects in a timely manner or to provide other guarantees acceptable to Party B, upon the damage to, loss of or decrease in the value of the mortgaged objects that suffice to prejudice the satisfaction of the debts hereunder; 10.1.3.6 Other breaches on the part of the Mortgagor as set forth in the Mortgage Agreement.