Notice of Claimed Default or Deficiency Sample Clauses

Notice of Claimed Default or Deficiency. The Company, within ten days after receiving written notice of a default or deficiency in excess of $10,000 from, or being served with a complaint in law or in equity by, the Holder of any Indebtedness or other Security of the Company, or a party to any agreement to which the Company is a party or otherwise bound which calls for payments by or to the Company or such Subsidiary in an aggregate amount in excess of $10,000, with respect to a claimed default or event of default or claimed deficiency thereunder, shall furnish to each Holder of Subordinated
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Notice of Claimed Default or Deficiency. Attendance at Board Meetings; Blue Sky; Compliance with Laws; Filing of Commission Reports; Transactions with Affiliates; Subsidiaries; No Registration Rights to Others; Use of Proceeds; Lock-up; and Articles of Amendment; provided, however, that notwithstanding the foregoing, the covenants between the Company and the Holders set forth on Annex A hereto which were originally set forth in the respective purchase agreements pursuant to which the Holders purchased the Preferred Stock are not hereby waived or terminated, but rather shall continue as modified in Annex A and terminate when and as provided in such covenants. 3.
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Notice of Claimed Default or Deficiency. Until such time as there shall have been a closing of an Initial Public Offering, the Company, within ten days after receiving notice of a default or deficiency in excess of $100,000 from, or being served with a complaint in law or in equity by, the holder of any Indebtedness or other Security of the Company or any Subsidiary, or a party to any agreement to which the Company or any Subsidiary is a party or otherwise bound which calls for payments by or to the Company or such Subsidiary in an aggregate amount in excess of $100,000, with respect to a claimed default or event of default or claimed deficiency thereunder, shall furnish to each Stockholder a written notice specifying the notice given or action taken by such Person, as the case may be, and the nature of the claimed default or event of default or claimed deficiency and what action the Company is taking or proposes to take with respect thereto.
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Notice of Claimed Default or Deficiency. 31 7.7 Blue Sky.......................................................................................31 7.8
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Notice of Claimed Default or Deficiency. The Company, within ten days after receiving written notice of a default or deficiency in excess of $10,000 from, or being served with a complaint in law or in equity by, the Holder of any Indebtedness or other Security of the Company, or a party to any agreement to which the Company is a party or otherwise bound which calls for payments by or to the Company or such Subsidiary in an aggregate amount in excess of $10,000, with respect to a claimed default or event of default or claimed deficiency thereunder, shall furnish to each Holder of Series B Stock a written notice specifying the notice given or action taken by such Person, as the case may be, and the nature of the claimed default or event of default or claimed deficiency and what action the Company is taking or proposes to take with respect thereto.
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Related to Notice of Claimed Default or Deficiency

  • Notice of Claimed Default Promptly upon becoming aware that the holder of any material obligation or of any other evidence of material Indebtedness of Borrower or Guarantor has given notice or taken any other action with respect to a claimed default or event of default thereunder, a written notice specifying the notice given or action taken by such holder and the nature of the claimed default or event of default and what action the Borrower or Guarantor are taking or proposes to take with respect thereto.

  • Notice of Default or Litigation Promptly after an Authorized Officer of the Borrower or any of the Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against the Borrower or any of the Subsidiaries that could reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

  • Notice of Default or Event of Default promptly, and in any event within five days after a Responsible Officer becoming aware of the existence of any Default or Event of Default or that any Person has given any notice or taken any action with respect to a claimed default hereunder or that any Person has given any notice or taken any action with respect to a claimed default of the type referred to in Section 11(f), a written notice specifying the nature and period of existence thereof and what action the Company is taking or proposes to take with respect thereto;

  • 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.

  • Notice of Default; Litigation Promptly after an Authorized Officer of the Borrower or any of the Restricted Subsidiaries obtains actual knowledge thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the nature thereof, the period of existence thereof and what action the Borrower proposes to take with respect thereto and (ii) any litigation or governmental proceeding pending against the Borrower or any of the Subsidiaries that would reasonably be expected to be determined adversely and, if so determined, to result in a Material Adverse Effect.

  • Waiver; Deficiency Each Grantor waives and agrees not to assert any rights or privileges which it may acquire under Section 9-112 of the New York UCC. Each Grantor shall remain liable for any deficiency if the proceeds of any sale or other disposition of the Collateral are insufficient to pay its Obligations and the fees and disbursements of any attorneys employed by the Administrative Agent or any Lender to collect such deficiency.

  • Notice of Default, Litigation and ERISA Matters Promptly upon becoming aware of any of the following, written notice describing the same and the steps being taken by the Company or the Subsidiary affected thereby with respect thereto:

  • Escrow Fund Deficiency Where it is determined that a deficiency exists in such Borrower's Escrow Funds, such Borrower may be requested to pay the shortage in full or the deficiency may be taken into consideration in determining the amount to be collected for Escrow Funds during the next twelve months.

  • Default or Event of Default Seller shall, as soon as possible but in no event later than two (2) Business Days after obtaining actual knowledge of such event, notify Purchaser of the occurrence of any Default or Event of Default.

  • Notification of Event of Default Borrower shall notify Agent immediately of the occurrence of any Event of Default.

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