Known Defaults Sample Clauses

Known Defaults. Borrower is not knowingly in default in the performance of any obligations to other financial institutions or to Federal, State or Municipal authorities.
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Known Defaults. 1. An Event of Default under Section 7(a) of the Credit Agreement resulting from the Borrower’s failure to pay on the due date (or within the 5-day cure period thereunder) the monthly interest payment due on July 31, 2014, as required under Section 2.9(d) of the Credit Agreement.
Sample 1
Known Defaults. Each of the Events of Default and potential Events of Default that are listed on this Annex A shall be deemed “Known Defaults” only to the extent they have arisen or may arise (i) as a result of the Borrower’s failure to furnish audited financials for the fiscal year ended December 31, 2012, (ii) from those events described in Borrower’s 8-K filing on April 12, 2013 and (iii) as a result of the Borrower’s failure to make the interest payment due on May 29, 2013.
Sample 1
Known Defaults. The following Events of Default previously occurred under the Loan Agreement: (i) Borrowers and their Subsidiaries failed to earn a minimum EBITDA during the four (4) month period ended September 30, 2004 and the five (5) month period ended October 31, 2004 as required in Section 9.17.1 of the Loan Agreement, as that Section was added by Section 3(g) of the First Amendment to Loan and Security Agreement and Conditional Default Waiver dated as of June 10, 2004; and (ii) certain Events of Default arose under Sections 9.7(b), (c) or (d) of the Loan Agreement by virtue of the commencement and continuation of the pending receivership proceedings of MB Quart GmbH (collectively, the "Known Defaults"). Agent and Congress hereby waive all of their rights and remedies arising on account of the Known Defaults, including without limitation their rights to increase the Interest Rate by two percent (2%) per annum pursuant to the proviso in the definition of "Interest Rate" in Section 1.52 of the Loan Agreement, and the rate charged for the letter of credit fee by two percent (2%) per annum pursuant to Section 2.2(b) of the Loan Agreement. This waiver shall be effective only for the Known Defaults specified above and only for the four (4) month period ended September 30, 2004 and the five (5) month period ended October 31, 2004 (with respect to the violation of Section 9.17.1) and the commencement and continuation of the pending receivership proceedings of MB Quart GmbH (with respect to the violation of Sections 9.7(b), (c) and (d)); and in no event shall this waiver be deemed to be a waiver of (a) enforcement of any rights or remedies with respect to any Other Event(s) of Default now existing or hereafter arising or (b) Borrowers' compliance with (i) the covenants referenced above in any other respect, or (ii) any other covenants or provisions of the Financing Agreements.
Sample 1

Related to Known Defaults

  • Specific Defaults The Company fails to perform or observe any term, covenant or agreement contained in Section 6.03(a) or Article 7; or

  • Registration Defaults If any of the following events shall occur, then the Company shall pay liquidated damages (the “Registration Default Damages”) to the Holders of Securities in respect of the Securities as follows:

  • Automatic Defaults If any Event of Default referred to in Section 7.10 hereof shall occur:

  • Upon Default Landlord shall have the right to pursue any one or more of the following remedies:

  • Action Upon Default Agent shall not be deemed to have knowledge of any Default or Event of Default, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from a Borrower or Required Lenders specifying the occurrence and nature thereof. If a Lender acquires knowledge of a Default, Event of Default or failure of such conditions, it shall promptly notify Agent and the other Lenders thereof in writing. Each Secured Party agrees that, except as otherwise provided in any Loan Documents or with the written consent of Agent and Required Lenders, it will not take any Enforcement Action, accelerate Obligations (other than Secured Bank Product Obligations) or assert any rights relating to any Collateral.

  • Rights on Default On the occurrence of an Event of Default, we may exercise our rights under this clause, except that in the case of the occurrence of any Event of Default specified in paragraphs (b) or (c) of the definition of Events of Default (each a "Bankruptcy Default"), the automatic termination provision of this clause shall apply.

  • 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.

  • REMEDIES IN DEFAULT In the event of any such material default or breach by Tenant, Landlord may at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of a right or remedy which Landlord may have by reason of such default or breach:

  • Other Defaults Any Loan Party fails to perform or observe any other covenant or agreement (not specified in Section 8.01(a) or (b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for thirty (30) days after notice thereof by the Administrative Agent to the Borrower; or

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