One Time Reinstatement Following Senior Facility Default Sample Clauses

One Time Reinstatement Following Senior Facility Default. One time only during the term of this Agreement, if (i) a Trigger Event described in clause (viii)(B) of the definition of Trigger Event occurs and such Event of Default is a payment default, (ii) the borrower under the Senior Facility in question tenders a cure of such Event of Default to the applicable lender and 375 Manager affirmatively demonstrates to Preferred Member’s reasonable satisfaction (e.g., by delivering an email from the applicable loan servicer confirming; it being understood that mere acceptance of a payment shall not be sufficient) that such Senior Facility is fully in good standing with no right on the part of such lender to thereafter exercise any right or remedy as a result of such Event of Default, and (iii) no other Trigger Event then exists, then the Trigger Event under clause (viii)(B) of the definition of Trigger Event resulting from such Event of Default (but no other Trigger Event then existing or thereafter occurring) shall be deemed waived by Preferred Member, and such Event of Default shall not result in the occurrence of a Permitted Managing Member Change Date or a Permitted PE Marketing Date.
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Related to One Time Reinstatement Following Senior Facility Default

  • Termination on Material Default 30.2.1 The Authority may terminate this Framework Agreement for material Default by issuing a Termination Notice to the Supplier where:

  • Succession upon Default Each of the following events shall constitute an Event of Default by Xxxxxx Xxx hereunder:

  • H2 Termination on Default H2.1 The Authority may terminate the Contract by written notice in accordance with clause A5.2 (Notices) to the Contractor with immediate effect if the Contractor commits a Default and if:

  • Termination on Default The Authority may terminate this Framework Agreement by serving written notice on the Supplier with effect from the date specified in such notice where the Supplier commits a Material Default and if:

  • Termination Upon Default Either Party may terminate this Agreement in whole or in part in the event of a default by the other Party; provided however, that the non-defaulting Party notifies the defaulting party in writing of the alleged default and that the defaulting Party does not cure the alleged default within sixty (60) calendar days of receipt of written notice thereof. Default is defined to include:

  • Termination and Default Either party, upon determination that the other party has failed or refused to perform or is otherwise in breach of any obligation or provision under this Agreement or the Contract Document, may give written notice of default to the defaulting party in the manner specified for the giving of notices herein. Termination of this Agreement by either party for any reason shall have no effect upon the rights or duties accruing to the parties prior to termination.

  • Suspension or Termination Upon Default Either Party may suspend or terminate this Agreement, in whole or in part, in the event of a Default by the other Party so long as the non-Defaulting Party notifies the Defaulting Party in writing of the Default and the Defaulting Party does not cure the Default within thirty (30) Days of receipt of the written notice, provided however, that any requirements for written notice and opportunity to cure with respect to the failure to make timely payment of undisputed charges shall be governed separately under Section 51. Following CenturyLink’s notice to CLEC of its Default, CenturyLink shall not be required to process new Service Orders until the Default is timely cured.

  • City Default The occurrence of the following shall be an “Event of Default” by City or a “City Default”:

  • SUSPENSION & TERMINATION FOR DEFAULT Enterprise Services may suspend Contractor’s operations under this Master Contract immediately by written cure notice of any default. Suspension shall continue until the default is remedied to Enterprise Services’ reasonable satisfaction; Provided, however, that, if after thirty (30) days from such a suspension notice, Contractor remains in default, Enterprise Services may terminate Contractor’s rights under this Master Contract. All of Contractor’s obligations to Enterprise Services and Purchasers survive termination of Contractor’s rights under this Master Contract, until such obligations have been fulfilled.

  • Certification of Funds; Budget and Fiscal Provisions; Termination in the Event of Non-Appropriation This Agreement is subject to the budget and fiscal provisions of the City’s Charter. Charges will accrue only after prior written authorization certified by the Controller, and the amount of City’s obligation hereunder shall not at any time exceed the amount certified for the purpose and period stated in such advance authorization. This Agreement will terminate without penalty, liability or expense of any kind to City at the end of any fiscal year if funds are not appropriated for the next succeeding fiscal year. If funds are appropriated for a portion of the fiscal year, this Agreement will terminate, without penalty, liability or expense of any kind at the end of the term for which funds are appropriated. City has no obligation to make appropriations for this Agreement in lieu of appropriations for new or other agreements. City budget decisions are subject to the discretion of the Mayor and the Board of Supervisors. Contractor’s assumption of risk of possible non-appropriation is part of the consideration for this Agreement. THIS SECTION CONTROLS AGAINST ANY AND ALL OTHER PROVISIONS OF THIS AGREEMENT.

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