Protections Against Default Clause Samples
Protections Against Default. The following Protections 1 through 7 may be invoked by ▇▇▇▇, immediately and without notice to any Merchant in the event:
(a) Any Merchant takes any action to discourage the use of methods of payment ordinarily and customarily used by its customers or permits any event to occur that could have an adverse effect on the use, acceptance, or authorization of checks and credit cards for the purchase of any Merchant’s services and products;
(b) Any Merchant changes its arrangements with any Processor in any way that is adverse to ▇▇▇▇;
(c) Any Merchant changes any Processor through which the Receivables are settled to another electronic check and/or credit card processor or permits any event to occur that could cause diversion of any Merchant’s check and/or credit card transactions to another such processor;
(d) Any Merchant interrupts the operation of its business (other than adverse weather, natural disasters, or acts of God) or transfers, moves, sells, disposes, or otherwise conveys its business or assets without (i) the express prior written consent of ▇▇▇▇ and (ii) the written agreement of any purchaser or transferee to the assumption of all of any Merchant’s obligations under this Agreement pursuant to documentation satisfactory to ▇▇▇▇; or
(e) Any Merchant takes any action, fails to take any action, or offers any incentive—economic or otherwise—the result of which will be to induce any customer or customers to pay for any Merchant’s goods or services with any means other than checks and/or credit cards that are settled through Processor. These protections are in addition to any other remedies available to ▇▇▇▇ at law, in equity, or otherwise available pursuant to this Agreement.
(f) ▇▇▇▇ considers any Event of Default listed in Section 34 to have taken place. Protection 1: The full uncollected Receivables Purchased Amount plus all fees due under this Agreement may become due and payable in full immediately. Protection 2. ▇▇▇▇ may enforce the provisions of the Guarantee against Guarantor. Protection 3. ▇▇▇▇ may enforce its security interest in the Collateral identified in Section 33. Protection 4. ▇▇▇▇ may proceed to protect and enforce its rights and remedies by litigation or arbitration. Protection 5. If requested by ▇▇▇▇, ▇▇▇▇▇▇▇▇ shall deliver to ▇▇▇▇ an executed assignment of lease of each ▇▇▇▇▇▇▇▇’s premises in favor of ▇▇▇▇. Upon breach of any provision in this Section 17, ▇▇▇▇ may exercise its rights under such assignment of lease. Protection 6. ▇...
Protections Against Default. The following Protections 1 through 6 may be invoked by CEDAR, immediately and without notice to any Merchant if any Event of Default listed in Section 30 has occurred.
Protection 1: The full uncollected Receivables Purchased Amount plus all fees due under this Agreement may become due and payable in full immediately.
Protections Against Default. The following Protections 1 through 6 may be invoked by [▇▇▇▇▇▇], immediately and without notice to any Merchant if any Event of Default listed in Section 30 has occurred.
Protection 1: The full uncollected Receivables Purchased Amount plus all fees due under this Agreement may become due and payable in full immediately.
Protections Against Default. The following protections may be invoked by Parkside immediately and without notice to Seller if any Event of Default occurs.
(i) The full uncollected Purchase Amount plus all fees under section C (2) and Section D (5) due under the Agreement.
(ii) Parkside may enforce the provisions of the Limited Personal Guaranty of performance – Attached to this Agreement – against the Guarantor.
(iii) Parkside may enforce its security interest in the collateral under Section C (1).
(iv) Parkside may proceed to protect and enforce its right and remedies by bringing a legal action against Seller and Guarantor pursuant to the Agreement in addition to any remedy available to Parkside under the law or in equity. In said action if judgment should be granted in favor or Parkside against Seller or Guarantor, Seller and Guarantor shall be liable for Parkside’s costs of said action, including but not limited to collection costs, reasonable attorneys’ fees, and court costs.
(v) Parkside may debit Seller’s depository accounts wherever situated by means of ACH debit or facsimile signature on a computer-generated check drawn on Seller’s bank account or otherwise for all sums due to Parkside.
(vi) Parkside may notify Seller’s credit card and check processor and to request said credit card processor to remit payments to Parkside for any remaining balance under the Purchase Amount on behalf of seller.
Protections Against Default. The following Protections 1 through 6 may be invoked by CCG, immediately and without notice to any Merchant if any Event of Default listed in Section 30 has occurred.
Protection 1: The full uncollected Receivables Purchased Amount plus all fees due under this Agreement may become due and payable in full immediately.
Protections Against Default. The following Protections 1 through 6 may be invoked by ▇▇▇▇, immediately and without notice to any Merchant if any Event of Default listed in Section 30 has occurred.
Protection 1: The full uncollected Receivables Purchased Amount plus all fees due under this Agreement may become due and payable in full immediately.
Protections Against Default. The following Protections 1 through 6 may be invoked by WAVE, immediately and without notice to any Merchant if any Event of Default listed in Section 30 has occurred.
Protection 1: The full uncollected Receivables Purchased Amount plus all fees due under this Agreement may become due and payable in full immediately.
Protections Against Default. The following Protections 1 through 6 may be invoked by CEDAR, immediately and without notice to any Merchant if any Event of Default listed in Section 30 has occurred. Protection 1: The full uncollected Receivables Purchased Amount plus all fees due under this Agreement may become due and payable in full immediately. Protection 2. CEDAR may enforce the provisions of the Guarantee against Guarantor. Protection 3. CEDAR may enforce its security interest in the Collateral identified in Section 29. Protection 4. CEDAR may proceed to protect and enforce its rights and remedies by litigation or arbitration. Protection 5. CEDAR may debit any Merchant’s depository accounts wherever situated by means of ACH debit or electronic or facsimile signature on a computer-generated check drawn on any Merchant’s bank account or otherwise, in an amount consistent with the terms of this Agreement. Protection 6. CEDAR will have the right, without waiving any of its rights and remedies and without notice to any Merchant and/or Guarantor, to notify each Merchant’s credit card and/or check processor and account debtor(s) of the sale of Receivables hereunder and to direct such credit card processor and account debtor(s) to make payment to CEDAR of all or any portion of the amounts received by such credit card processor and account debtor(s) on behalf of each Merchant. Each Merchant hereby grants to CEDAR an irrevocable power-of-attorney, which power-of-attorney will be coupled with an interest, and hereby appoints CEDAR and its representatives as each Merchant’s attorney-in-fact to take any and all action necessary to direct such new or additional credit card and/or check processor and account debtor(s) to make payment to CEDAR as contemplated by this Section. 17.
Protections Against Default. The following Protections 1 through 6 may be invoked by ALPINE, immediately and without notice to any Merchant if any Event of Default listed in Section 30 has occurred.
Protections Against Default. The following Protec-
(a) Merchant takes any action to discourage the use of electronic check processing that are settled through Processor, or permits any event to occur that could have an adverse effect on the use, acceptance, or authorization of checks for the purchase of Merchant’s services and products including but not limited to direct deposit of any checks into a bank account without scanning into the JC electronic check processor; (b) Merchant changes its arrangements with Processor in any way that is ad- verse to JC; (c) Merchant changes the electronic check processor through which the Receipts are settled from Processor to another electronic check processor, or per- mits any event to occur that could cause diversion of any of Merchant’s check transactions to another processor;