REMEDIES OF THE LENDER. 8.1 If one or more of the Events of Defaults shall have occurred, then, the Lender, by a written notice to the Borrower may declare the principal and all accrued interest and charges on the Loan which may be payable by the Borrower under or in terms of this Agreement and/or any other agreements, documents subsisting between the Borrower and the Lender, as well as all other charges and dues to be due and upon such declaration the same shall become due and payable forthwith and the security in relation to the Loan and any other loans shall become enforceable, notwithstanding anything to the contrary in this Agreement or any other agreement/s or documents.
8.2 If any Event of Default or any event, which, after the notice or lapse of time or both, would constitute an Event of Default shall have happened, the Borrower shall forthwith give to the Lender notice thereof in writing specifying such Event of Default, or such event.
8.3 All reasonable costs incurred by Xxxxxx after an Event of Default has occurred in connection with:
i) Preservation of the Borrower's Property (whether now or hereafter existing); or
ii) Collection of amounts due under this Agreement may be charged to the Borrower and reimbursed, as the Lender shall specify.
8.4 The Lender may issue any certificate as regards payment of any amounts paid by the Borrower to Lender in terms of this Agreement only if the Borrower has paid all amounts due under this Agreement to the Lender and the Borrower has complied with all the terms of this Agreement.
8.5 In the Event of Default, the Lender shall be entitled to communicate, in any manner it may deem fit, to or with any person or persons with a view to receiving assistance of such person or persons in recovering the defaulted amounts including but not limited to visiting the Property and/or any place of work of the Borrower.
REMEDIES OF THE LENDER. Upon the occurrence of any one or more of Event of Default by Development which remains uncured following notice from the Lender to Development and the applicable cure period under this Enhancement Agreement, the Lender may exercise one or more of the following remedies:
(a) Specific Performance. Seek specific performance by Development of its obligations under this Enhancement Agreement.
REMEDIES OF THE LENDER. Upon an Event of Default, the Lender shall mail notice of the default to the Borrower, and the Borrower shall have fifteen (15) days for any monetary-related default, and thirty (30) days for any non-monetary default, from the date of mailing the notice, to cure said default (provided however, if the non-monetary default is not reasonably capable of being cured within said 30 days, and Borrower is diligently pursuing said cure, Borrower shall have up to sixty (60) days from the date of notice to cure said non-monetary default), whereupon, if remaining uncured at the expiration thereof, the Lender shall immediately be entitled to all remedies as stated herein, in addition to all other remedies provided to Lender under any of the Loan Documents, and under the law or rules of equity, and Lender may, at its election, but without any obligation to do so, without further notice, enjoy any or all of the rights, powers, privileges and remedies listed below, all at the sole cost and expense of the Borrower:
REMEDIES OF THE LENDER. 8.1 On the happening of any of the Events of Default, DCB Bank may, by a notice in writing to the Borrower and without prejudice to the rights and remedies available to DCB Bank under the Loan Terms or any other Transaction Document or otherwise: (a) call upon the Borrower to pay all the Borrower's Dues in respect of the Facility and otherwise, and/or (b) withheld the delivery of the Vehicle, and/or (c) declare the security, if any, created in terms of/pursuant to the Loan Terms and/or the other Transaction Documents to be enforceable, and DCB Bank, its representatives and/or such other person in favour of whom such security or any part thereof is created shall have, inter alia the following rights (notwithstanding anything to the contrary in the Loan Terms and/or the other Transaction Documents and irrespective of whether or not the entire Facility or Borrower’s Dues has/have been recalled) namely:
i. to enter upon and take possession of the Asset(s) in accordance with the provisions of the Loan terms; and/or
ii. transfer or deal with the Asset(s) in accordance with the provisions of the Loan Terms.
REMEDIES OF THE LENDER. At any time after any Event of Default has occurred, the Lender may, without presentment, demand, protest or further notice of any kind (all of which are hereby expressly waived) and, notwithstanding the provisions contained in any other document or instrument executed or to be executed by the Borrower to the Lender under this Agreement or contained in any other agreement, take any one or more of the following actions:
(a) Declare the entire unpaid outstanding principal Advances and any accrued interest thereon, to be immediately due and payable, and to enforce payment thereof by any means permitted by law or in equity;
(b) Without accelerating payment, enforce the payment of sums of principal and interest then due (including any penalty interest);
(c) File suit for any sums owing;
(d) Exercise any other remedy or right provided in law or in equity or permitted under this Agreement; or
(e) Exercise any other remedy or right provided in law or in equity or permitted under this Agreement.
REMEDIES OF THE LENDER. At any time after any Event of Default has occurred, the Lender may, without presentment, demand, protest or further notice of any kind (all of which are hereby expressly waived) and, notwithstanding the provisions contained in any other document or instrument executed or to be executed by the Borrower to the Lender under this Credit Agreement or contained in any other agreement, take any one or more of the following actions:
(a) Declare the entire unpaid outstanding principal Advances and any accrued interest thereon, to be immediately due and payable, and to enforce payment thereof by any means permitted by law or in equity;
(b) Lender may immediately terminate this Credit Agreement and all liabilities and obligations of Lender under this Agreement, without affecting Lender's rights under this Agreement and the Note(s);
(c) Without accelerating payment, enforce the payment of sums of principal and interest then due (including any penalty interest);
(d) File suit for any sums owing; and
(e) Exercise any other remedy or right provided in law or in equity or permitted under this Agreement.
REMEDIES OF THE LENDER. At any time after the occurrence of an event of default, as aforesaid, then notwithstanding anything to the contrary herein contained:
5.1 the Lender shall be entitled at its absolute discretion, to declare that the Loan and all interest accrued and all costs, charges, expenses and other sums outstanding under this Agreement and the Loan are immediately due and payable to the Lender, whereupon the same shall be come immediately due and payable by the Borrower and the Borrower shall pay all the amount and/or the Agreement in accordance with the terms of the notice any further notice or other legal formalities of any kind.
5.2 the Lender shall be entitled to exercise any right, power or remedy permitted to it by law, including by suit, in equity, or by action at law, or both, or otherwise, whether for specific performance of any covenant, condition or term contained in the Terms and Conditions or Loan Agreement or for an injunction against a violation of any of the terms and conditions of the Agreement, or in aid of the exercise of any power or right granted in the Agreement.
REMEDIES OF THE LENDER. FROM AND AFTER THE OCCURRENCE OF AN EVENT OF DEFAULT, THE LENDER SHALL HAVE ALL RIGHTS AND REMEDIES PROVIDED BY APPLICABLE LAW. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, MAY, AT ITS OPTION, DECLARE ITS COMMITMENTS UNDER THE LOAN DOCUMENTS AND OTHERWISE TO BE TERMINATED AND THE NOTES SHALL THEREUPON BE AND BECOME IMMEDIATELY DUE AND PAYABLE, WITHOUT ANY PRESENTMENT, DEMAND, PROTEST OR OTHER NOTICE OF ANY KIND, ALL OF WHICH (NOTWITHSTANDING ANY PROVISION IN ANY OF THE LOAN DOCUMENTS TO THE CONTRARY) ARE HEREBY EXPRESSLY WAIVED BY THE BORROWER, AND LENDER MAY ALSO, WITHOUT LIMITATION, APPROPRIATE AND APPLY TOWARD THE PAYMENT OF ANY NOTE ANY INDEBTEDNESS OF THE LENDER TO THE BORROWER HOWEVER CREATED OR ARISING, AND MAY ALSO, WITHOUT LIMITATION, EXERCISE ANY AND ALL RIGHTS IN AND TO THE COLLATERAL, WHETHER PURSUANT TO THE PLEDGE AGREEMENT OR OTHERWISE. THERE SHALL BE NO OBLIGATION TO LIQUIDATE ANY COLLATERAL PLEDGED HEREUNDER IN ANY ORDER OR WITH ANY PRIORITY OR TO EXERCISE ANY REMEDY AVAILABLE TO THE LENDER IN ANY ORDER. MISCELLANEOUS
I. WAIVER BY THE LENDER. NO FAILURE OR DELAY ON THE PART OF THE LENDER IN EXERCISING ANY RIGHT, POWER OR REMEDY HEREUNDER SHALL OPERATE AS A WAIVER THEREOF. NO SINGLE OR PARTIAL EXERCISE OF ANY SUCH RIGHT, POWER OR REMEDY SHALL PRECLUDE ANY OTHER OR FURTHER EXERCISE THEREOF OR THE EXERCISE OF ANY OTHER RIGHT, POWER OR REMEDY HEREUNDER. THE REMEDIES HEREIN PROVIDED ARE CUMULATIVE AND NOT EXCLUSIVE OF ANY REMEDIES PROVIDED BY LAW. TIME IS OF THE ESSENCE IN THE PERFORMANCE OF THE COVENANTS, AGREEMENTS AND OBLIGATIONS OF THE BORROWER AND EACH OF THE SUBSIDIARIES.
II. ENTIRE AGREEMENT AND MODIFICATIONS OF AGREEMENT. THIS AGREEMENT CONSTITUTES THE ENTIRE AGREEMENT BETWEEN THE PARTIES AND SUPERSEDES ALL PRIOR AGREEMENTS BETWEEN THE LENDER AND THE BORROWER WITH RESPECT TO THE SUBJECT MATTER HEREOF. NO AMENDMENT, MODIFICATION, TERMINATION OR WAIVER OF ANY PROVISION OF THIS AGREEMENT, THE PLEDGE AGREEMENT, OR THE NOTES, OR CONSENT TO ANY DEPARTURE BY THE BORROWER THEREFROM, SHALL IN ANY EVENT BE EFFECTIVE UNLESS THE SAME SHALL BE IN WRITING AND SIGNED BY THE LENDER, AND THEN SUCH WAIVER OR CONSENT SHALL BE EFFECTIVE ONLY IN THE SPECIFIC PURPOSE FOR WHICH GIVEN. NO NOTICE TO OR DEMAND ON THE BORROWER IN ANY CASE SHALL ENTITLE THE BORROWER TO ANY OTHER OR FURTHER NOTICE OR DEMAND IN SIMILAR OR OTHER CIRCUMSTANCES.
REMEDIES OF THE LENDER. In addition to all additional remedies provided to Lender under any of the Loan Documents, and under the law or rules of equity, Lender may, at its election, but without any obligation to do so, without notice, enjoy any or all of the rights, powers, privileges and remedies listed below, all at the sole cost and expense of the Borrower upon the occurrence of an Event of a Default.
REMEDIES OF THE LENDER. In case the Borrower violates any article of this Contract, the Lender has the right to exercise one or more of the following rights:
(1) Stop granting loans;
(2) Declare the immediate maturity of the loan, and require the Borrower to immediately repay the principal, interest and expenses of all matured and unmatured debts under this Contract;
(3) If the Borrower fails to disburse the Loan as agreed in the Contract, the Lender has the right to require the Borrower to pay liquidated damages equivalent to 20% of the amount not disbursed as agreed, and has the right to refuse the Borrower to disburse the unpaid amount under the Contract;
(4) If the Borrower fails to use the loan according to the purpose agreed in the Contract, the interest and compound interest shall be calculated according to the penalty interest rate and the interest settlement method agreed in the Contract from the date of failure to use the loan in accordance with the contractual purpose to the date of full settlement of the principal and interest;
(5) In case of the loan is overdue, for the loan principal and interest that the Borrower fails to pay off on time (including the loan principal and interest declared by Xxxxxx to be fully or partially due in advance), the Lender has the right to calculate and collect the interest and compound interest according to the penalty interest rate and the interest settlement method agreed in this Contract from the overdue date to the date of full settlement of the principal and interest. Overdue loan refers to the behavior that the Borrower fails to pay off the loan on schedule or exceeds the time limit of the installment repayment plan agreed in the Contract.
(6) Before the loan expires, the interest that the Borrower fails to pay off on time shall be compounded according to the penalty interest rate and interest settlement method agreed in the Contract.
(7) Other remedies, including but not limited to: collect corresponding funds in RMB or other currencies from the accounts opened by the Borrower in Baosheng County Bank and its branches without prior notice; exercise of security rights; require the Borrower to provide new guarantees for all debts under this Contract that meet the requirements of the Lender; termination of this Contract; others.
