Grantor Default Sample Clauses

Grantor Default. (a) If the Grantor is in material breach of this Agreement and such breach continues for a period of at least (30) days, the Purchaser may notify the Grantor in writing of such breach and if such breach is not fully remedied with fifteen (15) days of such notification, the Purchaser shall, for so long as such breach continues, be entitled to pursue any and all rights and legal and equitable remedies, including its rights and remedies to enforce Grantor's obligations under this Agreement.
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Grantor Default. In the event that Grantor shall fail to perform any obligation of Grantor to be performed under this Agreement, Grantee’s sole and exclusive remedies for any such failure shall be an action for money damages, specific performance and/or injunctive relief (Grantee hereby waiving the benefit of any laws granting Grantee a lien upon the property of Grantor and/or upon rental due Grantor or granting Grantee a right to terminate this Agreement upon a default by Grantor); provided, however, that Grantor shall not be in default hereunder (and Grantee shall have no right to pursue any such claim for damages in connection with any such failure) unless and until Grantee shall have delivered to Grantor a written notice specifying such default with particularity, and Grantor shall thereafter have failed to cure such default within thirty (30) days (or, if the nature of Grantor’s obligation is such that more than thirty (30) days are reasonably required for its performance, then not unless Grantor shall have failed to commence such performance of such cure within such thirty (30) day period and thereafter diligently pursue the same to completion). Notwithstanding the foregoing, in the event Grantor’s failure to perform an obligation of Grantor to be performed under this Agreement materially adversely affects Grantee’s use of the Grantee Space for the Permitted Use, Grantor shall commence to cure such default within ten (10) business days following receipt of written notice from Grantee of such default, and in the event of an emergency, shall commence to cure such default within twenty-four (24) hours following receipt of written notice from Grantee of such default, and shall diligently pursue the curing thereof to completion. Unless and until Grantor shall have so failed to so cure any such failure after such notice, Grantee shall not have any remedy or cause of action by reason thereof. Except as expressly set forth in this Agreement, in no event shall Grantee have the right to terminate the Agreement nor shall Grantee’s obligation to pay Base Colocation Fees or other charges under this Agreement xxxxx based upon any default by Grantor of its obligations under the Agreement. All obligations of Grantor hereunder will be construed as covenants, not conditions; and all such obligations will be binding upon Grantor only during the period of Grantor’s possession of the Datacenter and not thereafter.
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Grantor Default. 9.5.1. It shall be a Grantor default (“Grantor Default”) hereunder if Grantor fails to perform or observe any of its obligations under this Sublease within the period provided for such performance (including any notice and cure period, if applicable), and if no express period for notice and cure is provided, then after a period of 30 days from the date Grantor receives written notice thereof from Grantee setting forth in reasonable detail the nature and extent of the failure and identifying the applicable Sublease provision requiring such obligation to be performed; provided, however, that Grantor shall not have committed a Grantor Default if such failure is of a type and nature that cannot reasonably be cured within such 30-day period, so long as Grantor promptly commences the curing of such failure within such 30-day period and thereafter diligently pursue the curing of such failure but no later than 90 days from the date of the notice.
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Grantor Default. In the event Grantor is unable to provide the Grant Funds, Grantee may terminate this Agreement with no further obligations hereunder. Grantor shall have no liability to Grantee for any failure of the General Assembly to appropriate funds necessary for Grantor’s performance under this Agreement.
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Related to Grantor Default

  • Guarantor Defaults Any Guarantor fails in any material respect to perform or observe any term, covenant or agreement in the Guaranty; or the Guaranty is for any reason partially (including with respect to future advances) or wholly revoked or invalidated, or otherwise ceases to be in full force and effect, or any Guarantor or any other Person contests in any manner the validity or enforceability thereof or denies that it has any further liability or obligation thereunder; or any event described at subsections (f) or (g) of this Section occurs with respect to any Guarantor; or

  • Major Default The Purchasers shall be considered to be in “Major Default” in the event that (a) the Purchasers are in breach of their obligations under the Agreement and (b) such breaches, individually or in the aggregate, resulted or would reasonably be expected to result in (i) material Losses to the Sellers or their Affiliates, (ii) material reputational harm to the Sellers or their Affiliates, (iii) material and adverse regulatory consequences to the Sellers or their Affiliates, for which, in each case of clauses (i) through (iii), indemnification by the Purchasers pursuant to Article 8 of the Agreement would not be sufficient to remedy all damages incurred by the Sellers and their Affiliates or (iv) if the Sellers reasonably determine, based on the advice of counsel, that it would reasonably be expected to be a violation of their fiduciary duties under applicable Law to not terminate the Agreement, taking into account the indemnification by the Purchasers pursuant to Article 8 of the Agreement; provided, that the following breaches shall be excluded, and not taken into account, in determining if a Major Default has occurred: (x) any breach to the extent resulting from any action taken by the Purchasers pursuant to and in accordance with written direction given by the Sellers and (y) any breach to the extent arising out of or resulting from, directly or indirectly, a breach by the Sellers of the Agreement, the Transition Services Agreement or the Purchase Agreement.

  • Bankruptcy Default (i) A Credit Party or any of its Subsidiaries shall commence any case, proceeding or other action (A) under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, or (B) seeking appointment of a receiver, trustee, custodian, conservator or other similar official for it or for all or any substantial part of its assets, or a Credit Party or any of its Subsidiaries shall make a general assignment for the benefit of its creditors; or (ii) there shall be commenced against a Credit Party or any of its Subsidiaries any case, proceeding or other action of a nature referred to in clause (i) above which (A) results in the entry of an order for relief or any such adjudication or appointment or (B) remains undismissed, undischarged or unbonded for a period of sixty (60) days; or (iii) there shall be commenced against a Credit Party or any of its Subsidiaries any case, proceeding or other action seeking issuance of a warrant of attachment, execution, distraint or similar process against all or any substantial part of their assets which results in the entry of an order for any such relief which shall not have been vacated, discharged, or stayed or bonded pending appeal within sixty (60) days from the entry thereof; or (iv) a Credit Party or any of its Subsidiaries shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause (i), (ii), or (iii) above; or (v) a Credit Party or any of its Subsidiaries shall generally not, or shall be unable to, or shall admit in writing their inability to, pay its debts as they become due; or

  • Bankruptcy Defaults When any Event of Default described in subsections (j) or (k) of Section 9.1 hereof has occurred and is continuing, then all outstanding Notes shall immediately become due and payable together with all other amounts payable under the Loan Documents without presentment, demand, protest or notice of any kind, the obligation of the Lenders to extend further credit pursuant to any of the terms hereof shall immediately terminate and the Borrower shall immediately pay to the Administrative Agent the full amount then available for drawing under all outstanding Letters of Credit, the Borrower acknowledging and agreeing that the Lenders would not have an adequate remedy at law for failure by the Borrower to honor any such demand and that the Lenders, and the Administrative Agent on their behalf, shall have the right to require the Borrower to specifically perform such undertaking whether or not any draws or other demands for payment have been made under any of the Letters of Credit.

  • Event of Default; Notice (a) The Guarantee Trustee shall, within 90 days after the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders, notices of all Events of Default known to the Guarantee Trustee, unless such defaults have been cured before the giving of such notice, provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders.

  • After Event of Default Borrower further agrees to pay, or reimburse Lender, for all reasonable out-of-pocket costs and expenses, including without limitation reasonable attorneys’ fees and disbursements incurred by Lender after the occurrence of an Event of Default (i) in enforcing any Obligation or in foreclosing against the Collateral or exercising or enforcing any other right or remedy available by reason of such Event of Default; (ii) in connection with any refinancing or restructuring of the credit arrangements provided under this Agreement in the nature of a “work-out” or in any insolvency or bankruptcy proceeding; (iii) in commencing, defending or intervening in any litigation or in filing a petition, complaint, answer, motion or other pleadings in any legal proceeding relating to Borrower and related to or arising out of the transactions contemplated hereby; (iv) in taking any other action in or with respect to any suit or proceeding (whether in bankruptcy or otherwise); (v) in protecting, preserving, collecting, leasing, selling, taking possession of, or liquidating any of the Collateral; or (vi) in attempting to enforce or enforcing any Lien in any of the Collateral or any other rights under the Security Instrument.

  • Event of Default Any of the following shall constitute an “Event of Default”:

  • Monetary Default If a Monetary Default occurs and continues for 10 Business Days after Notice from Landlord, specifying in reasonable detail the amount of money not paid and the nature and calculation of each such payment.

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