Remedies on an Event of Default. 3.1 The Xxxxxxx agrees that at any time after Event of Default occurs, the Lender shall have the right, without prejudice to its other rights under this Agreement and/or under any Applicable Law, in its discretion to exercise all the rights, powers and remedies vested in it (whether vested in it by or pursuant to this Agreement or by any Applicable Law) for the protection, perfection and enforcement of its rights in respect of the Collateral, and shall be entitled, without limitation, to exercise the rights set out in Section 3.2 below, to which the Xxxxxxx hereby agrees.
3.2 On the occurrence of an Event of Default, the Lender shall be entitled, at its sole discretion:
3.2.1 to invoke the pledge on the Collateral and/or transfer or register in its name or in the name of any of its nominees or any other Person or redeem, as it shall deem fit, all or any of the Collateral without notice to the Xxxxxxx, at the cost of the Xxxxxxx;
3.2.2 to receive all amounts payable in respect of the Collateral relating or otherwise payable under Section 2.5 (Dividends and Other Distributions) to the Xxxxxxx;
3.2.3 to take all such actions including vote on all or any part of the Collateral (whether or not transferred in the name of the Lender) and otherwise act with respect thereto as though it were the owner thereof;
3.2.4 to sell the Collateral (or any part thereof) in exercise of the power conferred under Section 3.5 hereof (Power of Sale/Redemption), or redeem without the intervention of the court and without any consent of or notice to the Xxxxxxx, at public or private sale or on any securities exchange for cash, upon credit or for future delivery or transfer or procure registration in the name of the Lender, or any of its nominees at the cost of the Xxxxxxx, as the Lender may deem commercially reasonable and apply the proceeds thereof towards payment of the Obligations of the Borrower under the Loan Agreement, provided that the Lender shall not be obliged to make any sale of any Collateral if it determines not to do so, regardless of the fact that notice of sale may have been given.
Remedies on an Event of Default. Upon the occurrence of any Event of Default: (a) all indebtedness, liabilities and obligations of the Borrower under this Agreement and each of the other Credit Documents to which it is a party, any term hereof or thereof to the contrary notwithstanding, shall at the Agent’s option and without notice become immediately due and payable without presentment, demand, protest or notice of dishonor, all of which are hereby expressly waived by the Borrower; (b) the obligation, if any, of the Lenders to extend any further credit under this Agreement or any of the other Credit Documents shall immediately cease and terminate; and (c) the Agent and the Lenders shall have all rights, powers and remedies available under this Agreement and each of the other Credit Documents, or accorded by law, including the right to resort to any or all Security for any credit subject hereto and to exercise any or all of the rights of a beneficiary or secured party pursuant to all Applicable Law. All rights, powers and remedies of the Agent and the Lenders may be exercised at any time by the Agent and the Lenders and from time to time upon the occurrence of an Event of Default, are cumulative and not exclusive, and shall be in addition to any other rights, powers or remedies provided by law or equity.
Remedies on an Event of Default. Upon the occurrence of an Event of Default, Xxxxxxxx shall have the immediate right to file an action at law or equity against Guarantor and/or to take control of all or any part of any collateral, with or without judicial process, and without demand of performance, advertisement or notice to Guarantor, which are expressly waived by Guarantor; provided, however, that if any notice is required by law in connection with the exercise by Xxxxxxxx of his rights and remedies, Guarantor agrees that ten days' prior written notice is a reasonable time and manner for notice. Furthermore, Xxxxxxxx may exercise all of the other rights and remedies that are provided to him under this Guaranty.
Remedies on an Event of Default. Whenever any event of default shall happen, Issuer (with the consent of Trustee if the Indenture has not been discharged) or Trustee on behalf of the Issuer may take any of the following remedial steps:
(a) Declare Loan Payments due and payable in an amount equal to the principal and premium, if any, and interest and other amounts due and payable under the Note.
(b) Cause the appointment of a receiver for the Mortgaged Property.
(c) Have access to and inspect, examine, and make copies of such of the books, records, accounts, and data of Company as pertain to the Mortgaged Property.
(d) Take whatever action at law or in equity may appear necessary or desirable to collect the Loan Payments, Additional Payments and any other amounts payable by Company hereunder, then due and thereafter to become due, or to enforce performance and observance of any obligation, agreement, or covenant of Company under this Loan Agreement.
(e) Cause a foreclosure on the Mortgaged Property pursuant to the Deed of Trust.
(f) Take any actions permitted to be taken upon the occurrence of such event of default under the Guaranty, the Deed of Trust, and the Hazardous Substance Certification and Indemnification, if applicable. Any amounts collected pursuant to action taken under this Section, other than amounts collected with respect to obligations of the Company under the Hazardous Substance Certification and Indemnification, shall be paid into the Bond Fund and applied in accordance with the provisions of the Indenture.
Remedies on an Event of Default. If an event of Default shall have occurred and shall be continuing, the Holder of this Note may at any time at its option, (a) declare the entire unpaid principal balance of this Note, together with all accrued and unpaid interest thereon, due and payable, and thereupon, the same shall be accelerated and so due and payable, without presentment, demand, protest or notice, all of which are hereby expressly and unconditionally waived by the Borrower; or (b) exercise or otherwise enforce any one or more of the Holder’s rights, powers, privileges, remedies and interest under this Note or applicable law. No course of delay on the part of the Holder shall operate as a waiver thereof or otherwise prejudice the right of the Holder. No remedy conferred hereby shall be exclusive of any other remedy referred to herein or now or hereafter available at law, in equity, by statute or otherwise.
Remedies on an Event of Default. 14.1 Upon the occurrence of any Event of Default, the Lender shall have the right, at its sole discretion, but not the obligation, to, inter alia, immediately cancel, the Facility and call upon the Borrower to forthwith repay the entire outstanding Facility Amount, interest accrued thereon and all other amounts under the Finance Documents without any further notice of default, presentment or demand for payment or other notice or demand of any kind or nature whatsoever.
Remedies on an Event of Default. Upon the occurrence of an Event of Default, Calavo shall have the immediate right to take control of all or any part of the Collateral, with or without judicial process, and without advertisement, and without demand of performance or notice to San Xxxxxx, except as otherwise provided in Section 9 above, all of which are (except as set forth in Section 9) expressly waived by San Xxxxxx; provided, however, that if any notice is required by law in connection with the exercise by Calavo of its rights and remedies, San Xxxxxx agrees that ten days’ prior written notice is a reasonable time and manner for notice (which ten days’ notice shall be concurrent with, and not in addition to, the notice required under Section 9). Furthermore, Calavo may exercise all of the other rights and remedies that are provided to it under this Agreement and to a secured party by the California Uniform Commercial Code and otherwise by applicable law. Calavo’s rights and remedies shall include, without limitation, the power (i) to transfer into Calavo’s name or into the name of its nominee any or all of the Entire Interest or other Collateral and thereafter to receive and retain all cash and other dividends, distributions and payments made on account of the Entire Interest and other Collateral, and otherwise act with respect thereto as though it were the absolute owner thereof, and (ii) to sell all or any portion of the Entire Interest and other Collateral at a public or private sale at such place and time and at such prices and other terms as Calavo may determine. San Xxxxxx recognizes that Calavo may be compelled to resort to one or more private sales of any or all of the Entire Interest constituting part of the Collateral to a restricted group of purchasers who will be obliged to agree, among other things, to acquire such securities for their own account for investment and not with a view to the distribution or resale thereof. San Xxxxxx acknowledges and agrees that any such private sale may result in prices and other terms less favorable to the seller than if such sale were a public sale and, notwithstanding such circumstances, agrees that any such private sale shall not, for such reason alone, be deemed to have been made in a commercially unreasonable manner. Calavo shall not be under any obligation to delay a sale of any or all of the Entire Interest for the period of time necessary to permit the registration of the Entire Interest for public sale under the Securities Act of 19...
Remedies on an Event of Default. Upon the occurrence of an Event of Default, Juva shall have the immediate right to take control of all or any part of the Collateral, with or without judicial process, and without advertisement, and without demand of performance or notice to Baja, except as otherwise provided in Section 9 above, all of which are (except as set forth in Section 9) expressly waived by Baja; provided, however, that if any notice is required by law in connection with the exercise by Juva of its rights and remedies, Baja agrees that ten days’ AGREEMENT FOR PURCHASE OF LLC INTEREST Initials: _______ _______ _______ prior written notice is a reasonable time and manner for notice (which ten days’ notice shall be concurrent with, and not in addition to, the notice required under Section 9). Furthermore, Juva may exercise all of the other rights and remedies that are provided to it under this Agreement and to a secured party by the California Uniform Commercial Code and otherwise by applicable law. Juva’s rights and remedies shall include, without limitation, the power (i) to transfer into Juva’s name or into the name of its nominee any or all of the Entire Interest or other Collateral and thereafter to receive and retain all cash and other dividends, distributions and payments made on account of the Entire Interest and other Collateral, and otherwise act with respect thereto as though it were the absolute owner thereof, and (ii) to sell all or any portion of the Entire Interest and other Collateral at a public or private sale at such place and time and at such prices and other terms as Juva may determine. Baja recognizes that Juva may be compelled to resort to one or more private sales of any or all of the Entire Interest constituting part of the Collateral to a restricted group of purchasers who will be obliged to agree, among other things, to acquire such securities for their own account for investment and not with a view to the distribution or resale thereof. Baja acknowledges and agrees that any such private sale may result in prices and other terms less favorable to the seller than if such sale were a public sale and, notwithstanding such circumstances, agrees that any such private sale shall not, for such reason alone, be deemed to have been made in a commercially unreasonable manner. Juva shall not be under any obligation to delay a sale of any or all of the Entire Interest for the period of time necessary to permit the registration of the Entire Interest for public sale und...
Remedies on an Event of Default. Upon the occurrence of and during the continuance of an Event of Default, the Majority Lenders may declare an Event of Default and accelerate the Loans, and exercise any or all remedies set out under the Finance Documents, including the following:
(a) cancel or suspend the commitments of the Lender or Lenders under the applicable Loan Agreements and this Agreement;
(b) declare the principal amount of the Loans together with accrued interest thereon and any other outstanding amounts under the relevant Loan Agreements and this Agreement to be immediately due and payable or repayable on demand;
(c) cancel or suspend further Disbursements;
(d) exercise, or cause either Security Agent to exercise, any and all rights of a secured creditor (subject to the Security Trust and Intercreditor Deed) with respect to the Project, the Company, the Sponsor and any other relevant party under the Finance Documents and the Security Documents; or
(e) exercise all other rights available to any of the Finance Parties under the Finance Documents;
Remedies on an Event of Default. Upon the occurrence of and during the continuance of an Event of Default, the Majority Lenders (or in the case of either the DEG A Loan or DEG B Loan and after a ten (10) day consultation period with all Lenders, the DEG A Lender alone or the DEG B Lender alone and only in respect of amounts due to either the DEG “A Lender under the DEG A Loan or to the DEG “B” Lender under the DEG B Loan,) may declare an Event of Default and accelerate the Loans, and exercise any or all remedies set out under the Finance Documents, including the following:
(a) cancel or suspend the commitments of the Lender or Lenders under the applicable Loan Agreements and this Agreement;
(b) declare the principal amount of the Loans together with accrued interest thereon and any other outstanding amounts under the relevant Loan Agreements and this Agreement to be immediately due and payable or repayable on demand;
(c) cancel or suspend further Disbursements;
(d) instructing the Global Agent to make a claim under the Guarantee for payment from the Guarantor for payment of any or all amounts due or to accelerate the entire Loan or Loans together with accrued interest thereon and any other outstanding amounts under the relevant Loan Agreements; and
(e) exercise all other rights available to any of the Finance Parties under the Finance Documents.
