REIMBURSEMENT OF LESSOR BY LESSEE UNDER CERTAIN CONDITIONS Sample Clauses

REIMBURSEMENT OF LESSOR BY LESSEE UNDER CERTAIN CONDITIONS. In the event that an event of default shall occur under the Lease, or if the Lessee has not given its final acceptance of the Equipment and the base term of the Lease commenced by DECEMBER 31, 1996, then upon demand by Lessor, Lessee shall repay to the Lessor in full all amounts theretofore paid by the Lessor to the Vendor and/or the Lessee in payment of the purchase price of the Equipment together with interest on all overdue sums calculated at an annual rate of interest equal to 2.00% over the fully floating "Prime" rate of interest of PNC Bank, National Association, in effect from time to time. Upon the receipt of such payment, Lessor shall assign to the Lessee all of Lessor's right, title and interest in the Equipment, any open Purchase Orders and in all claims against the Vendor, all without representation or warranty.
Sample 1
AutoNDA by SimpleDocs
REIMBURSEMENT OF LESSOR BY LESSEE UNDER CERTAIN CONDITIONS. If an Event of Default shall occur under the Lease, or if Lessee has not given its final acceptance of the Equipment and the base term of the Lease commenced by April 6, 2006, then all advances made, together with accrued interest and other amounts due, shall be immediately due and payable without demand or notice of any kind. Lessee shall repay to Lessor in full all amounts theretofore paid by Lessor to Vendor and/or Lessee in payment of the purchase price of the Equipment together with interest on all overdue sums calculated at an annual rate of interest equal to the delinquent rent penalty set forth in the Lease. Upon the receipt of such payment, Lessor shall assign to Lessee all of Lessor's right, title and interest in the Equipment, any open Purchase Orders and in all claims against Vendor, all without representation or warranty. 3. Lessee's Certification. Lessee certifies that it has performed and complied with all agreements and conditions of the Lease and that no Event of Default has occurred or exists under the Lease. 4.
Sample 1

Related to REIMBURSEMENT OF LESSOR BY LESSEE UNDER CERTAIN CONDITIONS

  • Acceleration Waivers Amendments and Remedies 8.1. Acceleration;

  • No Event of Default; Compliance with Instruments No event has occurred and is continuing and no condition exists or will exist after giving effect to the borrowings or other extensions of credit to be made on the Closing Date under or pursuant to the Loan Documents which constitutes an Event of Default or Potential Default. None of the Loan Parties or any Subsidiaries of any Loan Party is in violation of (i) any term of its certificate of incorporation, bylaws, certificate of limited partnership, partnership agreement, certificate of formation, limited liability company agreement or other organizational documents or (ii) any material agreement or instrument to which it is a party or by which it or any of its properties may be subject or bound where such violation would constitute a Material Adverse Change.

  • RELEASE FROM GUARANTEES; REPAYMENT OF CERTAIN OBLIGATIONS TCI shall use reasonable efforts, including offering its own guarantee, to have the Stockholders released from any and all guarantees of the Company's indebtedness identified on Schedule 10.1. In the event that TCI cannot obtain such releases from the lenders of any such guaranteed indebtedness identified on Schedule 10.1 on or prior to 60 days subsequent to the Funding and Consummation Date, TCI shall promptly pay off or otherwise refinance or retire such indebtedness. TCI shall indemnify the Stockholders against, and shall promptly reimburse the Stockholders for, any amounts which the Stockholders are obligated to pay under any such guarantees listed on Schedule 10.1, and shall be subrogated to any rights of the Stockholders accruing as a result of any such payments by the Stockholders.

  • Certain Conditions to Assignments Assignments shall be subject to the following additional conditions:

  • Certain Conditions Except as otherwise provided in Sections 2.2.4 and 2.3.4 of this Agreement, no Lender shall have an obligation to make any Loan, or to permit the continuation of or any conversion into any LIBOR Loan, and the Issuing Lender shall not have any obligation to issue any Letter of Credit, if an Event of Default or Unmatured Event of Default exists.

  • Certificateholders May Not Bring Suit Except Under Certain Conditions A Certificateholder shall not have the right to institute any suit, action or proceeding at law or in equity or otherwise with respect to this Agreement, for the appointment of a receiver or for the enforcement of any other remedy under this Agreement, unless:

  • Conditions Precedent to Obligations of Parties The respective obligations of each of the parties hereto hereunder are subject to the satisfaction, at or prior to the Closing Date, of each of the following conditions:

  • Conditions Precedent to Obligations of Each Party The obligations of each Party to effect the Merger and otherwise consummate the Contemplated Transactions to be consummated at the Closing are subject to the satisfaction or, to the extent permitted by applicable Law, the written waiver by each of the Parties, at or prior to the Closing, of each of the following conditions:

  • Failure to Charge Not Subsequent Waiver Any decision by the Administrative Agent or any Lender not to require payment of any interest (including interest arising under Section 3.7), fee, cost or other amount payable under any Loan Document, or to calculate any amount payable by a particular method, on any occasion shall in no way limit or be deemed a waiver of the Administrative Agent’s or such Lender’s right to require full payment of any interest (including interest arising under Section 3.7), fee, cost or other amount payable under any Loan Document, or to calculate an amount payable by another method that is not inconsistent with this Agreement, on any other or subsequent occasion, except as provided in Sections 3.5 and 3.6.

  • Absence of Defaults and Conflicts Resulting from Transaction The execution, delivery and performance of this Agreement and the issuance and sale of the Offered Securities will not result in a breach or violation of any of the terms and provisions of, or constitute a default or a Debt Repayment Triggering Event (as defined below) under, or result in the imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, (i) the charter or by-laws of the Company or any of its subsidiaries, (ii) any law, statute or ordinance, or any rule, regulation, injunction or order of any governmental agency, including without limitation, the United States Food and Drug Administration (the “FDA”), or body or any court, domestic or foreign, having jurisdiction over the Company or any of its subsidiaries or any of their properties, or (iii) any agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the properties of the Company or any of its subsidiaries is subject, except, in the case of clauses (ii) or (iii) only, as would not, individually or in the aggregate, result in a Material Adverse Effect; a “Debt Repayment Triggering Event” means any event or condition that gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture, or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

Time is Money Join Law Insider Premium to draft better contracts faster.