Performance of Other Party’s Obligations Sample Clauses

Performance of Other Party’s Obligations. If either party hereto fails to perform or observe any of its covenants, agreements, or obligations hereunder for a period of 30 days after notice of such failure is given by the other party, then the other party shall have the right, but not the obligation, at its sole election (but not as its exclusive remedy), to perform or observe the covenants, agreements, or obligations which are asserted to have not been performed or observed at the expense of the failing party and to recover all costs or expenses incurred in connection therewith, together with interest thereon from the date expended until repaid at an annual rate ("DEFAULT RATE") equal to the lesser of: (A) three (3) percentage points above the prime rate of interest established from time to time by NationsBank (or a comparable rate of interest if such rate of interest is not in effect); or (B) the maximum rate of interest permitted by applicable law. Any performance or observance by a party pursuant to this Section 13.2 shall not constitute a waiver of the other party's failure to perform or observe.
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Performance of Other Party’s Obligations. In the event of an emergency requiring maintenance or repair of either Parking Area, if the party who is responsible for such maintenance or repair does not undertake the same within a period of time which is reasonable under the circumstances or it does not appear that such party who is responsible will, or will be able to, undertake such maintenance or repair, the other party may, at its option, perform such maintenance or repair and pay any and all costs and charges associated therewith. Subject to the provisions of Section 5 hereof, in the event either party hereto fails to maintain and repair the Parking Area on the Parcel to which it holds title, as such party is required to do pursuant to this Agreement, results in a material interference with the rights granted to the other party by this Agreement or with the use or operation of the other party’s Parcel or the improvements located thereon from time to time, but does not result in an emergency, the other party may notify the party in default of such failure in writing. In the event the party in default fails to remedy such default within ten (10) days after receipt of such notice or, if such default cannot be cured within ten (10) days, in the event the party in default fails to commence the cure of such default within such ten (10) day period and to diligently pursue such cure to completion, the other party may, at its option, subject to the rights under Section 6 of the holder of any mortgage, perform the obligation which the party in default has failed to properly perform hereunder and pay any and all costs and charges associated therewith. In any event described in this Section 4, the performing party shall be entitled to recover from the other party the charges, fees, costs and expenses incurred by the performing party (including, if the other party is in default, reasonable attorneys’ fees) in connection therewith if the obligation is one which was to have been performed pursuant to this Agreement by the party in default at its sole cost and expense, or one half (1/2) thereof if this Agreement provides that the cost and expense of performance is to be divided equally between the parties, including in each case interest at the Default Rate of Interest from the date of payment. Such charges, fees, costs, expenses and interest shall be paid by the other party within ten (10) days after receipt of a statement thereof from the performing party. For the purposes hereof, the term “Default Rate of Int...
Sample 1
Performance of Other Party’s Obligations. If either Party (the “defaulting Party”) fails to carry out its obligations under this Agreement and such failure could reasonably be expected to have a material adverse impact on the Transmission System, the Interconnection Facility, the Facility, or the regional network, the other Party, following ten (10) days’ prior written notice (except in cases of Emergencies, in which case only such notice as is reasonably practicable in the circumstances is required), may, but will not be obligated to, perform the obligations of the defaulting Party (including, without limitation, maintenance obligations), in which case the defaulting Party will, upon presentation of an invoice therefore, reimburse the other Party for all actual and reasonable costs and expenses incurred by it in performing said obligations of the defaulting Party (including, without limitation, costs associated with its employees and the costs of appraisers, engineers, environmental consultants and other experts retained by said Party in connection with performance of the defaulting Party’s obligations), together with interest calculated in accordance with Section 5.4.
Sample 1
Performance of Other Party’s Obligations. If any Party fails to perform or observe any of its covenants, agreements or obligations hereunder, in a timely manner after having received notice from the other Party, then the other Party shall have the right, but not the obligation, at its sole election (but not as its exclusive remedy) to perform or observe the covenants, agreements or obligations which are asserted to have not been performed or observed at the expense of the failing Party and to recover all costs or expenses incurred in connection therewith.
Sample 1
Performance of Other Party’s Obligations. The Tenant ---------------------------------------- covenants and agrees that if it shall at any time fail to make any payment or perform any other act on its part to be made or performed as in this Lease provided, then the Lessor, may, after thirty (30) days, written notice thereof to Tenant, but without obligation so to do and without waiving or releasing the Tenant from any obligations of the Tenant in this Lease contained, make any payment or perform any other act on the part of the Tenant to be made and performed as in this Lease provided, in such manner and to such extent as the Lessor may deem desirable. All sums so paid by the Lessor and all necessary and incidental costs and expenses in connection with the performance of any such act by the Lessor, together with interest thereon at the rate of eight percent (8%) per annum from the date of making such expenditure by the Lessor, shall be deemed additional rent hereunder and shall be payable to the Lessor on demand, and the Lessor shall have, in addition to any other right or remedy of the Lessor, the same rights and remedies in event of the nonpayment thereof by the Tenant as in the case of default by the Tenant in the payment of rent. If there is an undisputed default with respect to any of Lessor's covenants, warranties or representations under this Lease, and if the default continues more than thirty (30) days after notice in writing from Tenant to Lessor specifying the default, Tenant may, at its option and without affecting any other remedy hereunder, cure such default and deduct the cost thereof from the next accruing installment or installments of rent payable hereunder until Tenant shall have been fully reimbursed for such expenditure.
Sample 1
Performance of Other Party’s Obligations. If either Party fails to perform or observe any of its covenants, agreements, or obligations hereunder for a period of thirty‌
Sample 1
Performance of Other Party’s Obligations. If either party determines, in its or his reasonable good faith judgment that an emergency, involving imminent danger of injury or death to persons or damage to property in excess of $100,000.00 exists due to the other party’s failure to observe or perform its or his covenants, agreements and obligations hereunder, then such party may immediately perform or observe the covenants, agreements and obligations which give rise to such emergency at the expense of the failing party if it is later determined (whether it be by agreement of the parties or by adjudication) that the non-acting party actually did not perform its obligations and that such determination by the acting party was reasonable. Any performance or observance by a party pursuant to this Section shall not constitute a waiver of the other party’s failure to perform or observe. If Landlord validly performs any such obligation on behalf of Tenant, then Tenant shall pay Landlord’s reasonable cost of same within thirty (30) days of written notification from Landlord to Tenant. If Tenant validly performs any such obligation on behalf of Landlord, then Landlord shall pay Tenant’s reasonable cost of same within thirty (30) days from written notification from Tenant to Landlord, or alternatively, Tenant may offset any such cost incurred by Tenant against Tenant’s rental obligations otherwise due hereunder. Notwithstanding anything to the contrary contained herein, Landlord may enter the Premises and/or Land to show to potential purchasers provided Landlord provides Tenant with at least seventy-two (72) hours written notice. In the event of an emergency, Landlord may enter the Premises and/or Land as it deems reasonably necessary.
Sample 1
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Related to Performance of Other Party’s Obligations

  • Conditions to Each Party’s Obligations The respective obligations of each Party to consummate the Merger are subject to the satisfaction of the following conditions:

  • Conditions to Each Party’s Obligation The respective obligations of each party to effect the transactions contemplated by this Agreement shall be subject to the satisfaction prior to or on the Closing Date of the following conditions:

  • Performance of Other Agreements Borrower shall observe and perform each and every term, covenant and provision to be observed or performed by Borrower pursuant to the Loan Agreement, any other Loan Document and any other agreement or recorded instrument affecting or pertaining to the Property and any amendments, modifications or changes thereto.

  • Performance of Borrowers’ Obligations Agent may, in its discretion at any time and from time to time, at Borrowers’ expense, pay any amount or do any act required of a Borrower under any Loan Documents or otherwise lawfully requested by Agent to (a) enforce any Loan Documents or collect any Obligations; (b) protect, insure, maintain or realize upon any Collateral; or (c) defend or maintain the validity or priority of Agent’s Liens in any Collateral, including any payment of a judgment, insurance premium, warehouse charge, finishing or processing charge, or landlord claim, or any discharge of a Lien. All payments, costs and expenses (including Extraordinary Expenses) of Agent under this Section shall be reimbursed to Agent by Borrowers, on demand, with interest from the date incurred to the date of payment thereof at the Default Rate applicable to Base Rate Revolver Loans. Any payment made or action taken by Agent under this Section shall be without prejudice to any right to assert an Event of Default or to exercise any other rights or remedies under the Loan Documents.

  • Non-Performance of Other Covenants and Obligations Any Obligor shall default in the due performance and observance of any other agreement contained herein or in any other Loan Document executed by it, and such default shall continue unremedied for a period of 30 days after notice thereof shall have been given to WWI by the Administrative Agent at the direction of the Required Lenders.

  • Conditions Precedent to Each Party’s Obligations The respective obligations of each party to consummate the transactions contemplated by this Agreement are subject to the satisfaction at or prior to the Closing Date of the following conditions precedent:

  • Conditions to Each Party’s Obligations under this Agreement The respective obligations of each party under this Agreement shall be subject to the fulfillment at or prior to the Closing Date of the following conditions, none of which may be waived:

  • Breach of other obligations any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or

  • Remedies, Characterizations, Other Obligations, Breaches and Injunctive Relief The remedies provided in this Note shall be cumulative and in addition to all other remedies available under this Note and any of the other Transaction Documents at law or in equity (including a decree of specific performance and/or other injunctive relief), and nothing herein shall limit the Holder’s right to pursue actual and consequential damages for any failure by the Company to comply with the terms of this Note. The Company covenants to the Holder that there shall be no characterization concerning this instrument other than as expressly provided herein. Amounts set forth or provided for herein with respect to payments, conversion and the like (and the computation thereof) shall be the amounts to be received by the Holder and shall not, except as expressly provided herein, be subject to any other obligation of the Company (or the performance thereof). The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder and that the remedy at law for any such breach may be inadequate. The Company therefore agrees that, in the event of any such breach or threatened breach, the Holder shall be entitled, in addition to all other available remedies, to an injunction restraining any such breach or any such threatened breach, without the necessity of showing economic loss and without any bond or other security being required. The Company shall provide all information and documentation to the Holder that is requested by the Holder to enable the Holder to confirm the Company’s compliance with the terms and conditions of this Note.

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