Remedies on Event of Default. Upon the occurrence of any Event of Default, the County may: (i) terminate this Agreement by provision of thirty (30) days’ notice to the Company in writing specifying the termination date; (ii) upon providing, at the Company’s request, but subject in all events to the necessary exercise by the County of its sovereign duties and powers, a signed nondisclosure statement substantially in the form attached as Exhibit A hereto, have access to and inspect, examine and make copies of, the books, records and accounts of the Company pertaining to the Project; or (iii) take whatever action at law or in equity as may appear necessary or desirable to collect any FILOT Payments and Additional Payments then due or to enforce observance or performance of any covenant condition or agreement of the Company under this Agreement, including without limitation enforcement of a statutory lien on the Project for any non-payment of FILOT Payments hereunder.
Remedies on Event of Default a. Upon any Event of Default, the non-defaulting party may, at its option and in addition to all other rights, remedies, and recourses afforded under the Agreement or by law or equity, terminate this Agreement by the giving of written notice to the other, in which event the defaulting party shall pay to the non-defaulting party upon demand the sum of:
i. All amounts due the non-defaulting party under this Agreement or the Tariffs accrued to the date of termination; and
ii. All amounts due under Section 9 of this Agreement (as applicable).
b. Either party may restrain or enjoin any Event of Default or threatened Event of Default by the other without the necessity of proving the inadequacy of any legal remedy or irreparable harm.
c. The rights, remedies, and recourses of either party for an Event of Default shall be cumulative and no right, remedy or recourse of the non-defaulting party, whether exercised by the non-defaulting party or not, shall be deemed to be in exclusion of any other. Notwithstanding the foregoing, the rights, remedies, and recourses of either party for an Event of Default shall not include entitlement to punitive, indirect, or consequential damages.
Remedies on Event of Default. Upon the occurrence of any Event of Default, the following remedies may be exercised by the County only as to the Defaulting Entity:
(a) the County may terminate this Agreement by delivery of written notice to the Defaulting Entity not less than sixty (60) days prior to the termination date specified therein;
(b) the County may have access to and inspect, examine, and make copies of the books and records of the Defaulting Entity pertaining to the construction, acquisition, or maintenance of the Project or calculation of the Negotiated FILOT as provided in Section 4.06 hereof;
(c) the County may take whatever action at law or in equity as may appear necessary or desirable to collect the amount then due or enforce the County’s rights hereunder, it being the express intent of the parties that the County, without limitation, shall have the same remedies available by law to collect Negotiated FILOT Payments as if they were delinquent ad valorem tax payments, including execution upon the lien referred to in Section 5.02 hereof.
Remedies on Event of Default. If any Event of Default will occur, Payee shall, in addition to any and all other available rights and remedies, have the right, at Payee's option, to declare the entire unpaid outstanding principal balance of this Note, together with all interest accrued thereon at the rate of 18% per annum to the date of said Event of Default, and all other sums due by Maker hereunder, to be immediately due and payable, and either: (a) convert the Convertible Amount into that number of Shares equal to the Convertible Amount divided by the Default Conversion Price (as defined in Section 13 below); or (b) pursue any and all available remedies for the collection of such principal and interest to enforce its rights as described herein; and in such case Payee may also recover all costs of suit and other expenses in connection therewith, including reasonable attorneys' fees for collection and the right to equitable relief to enforce Payee's rights as set forth herein. The remedies provided in this Note may be exercised by Payee without notice to Maker (to the extent permitted by law and except as notice is herein expressly required) and will be in addition to and not in substitution for the rights and remedies which would otherwise be vested in Payee for the recovery of damages or otherwise in the event of a breach of any of the undertakings of Maker hereunder. No failure by Payee to exercise and no delay in exercising any right, power or privilege under this Note will operate as a waiver thereof, nor will any single or partial exercise of any right, power or privilege hereunder preclude any other, further or additional exercise thereof.
Remedies on Event of Default. Whenever any Event of Default hereunder shall have occurred and be continuing, the Trustee shall have the right to, in conjunction with its available remedies under the Indenture, take one or any combination of the following remedial steps, by notice to the Borrower and the Collateral Agent:
(a) Declare that all or any part of any amount outstanding under this Senior Loan Agreement is (1) immediately due and payable, and/or (2) payable on demand by the Trustee, and any such notice shall take effect in accordance with its terms but only if all amounts payable with respect to the Outstanding Series 2017 Bonds are being accelerated pursuant to Section 7.2(c) of the Indenture, or if all of the Outstanding Series 2017 Bonds are being defeased pursuant to Article 11 of the Indenture or otherwise paid in full; provided that, upon the occurrence of an Event of Default under Section 8.1(c), all principal of, and accrued interest on the Series 2017 Loan shall be immediately due and payable without any presentment, demand or notice from any Person;
(b) Pursuant to the terms of any Security Document, direct the Collateral Agent or other applicable Secured Party to take or cause to be taken any and all actions necessary to implement any available remedies with respect to the Collateral under any of the Security Documents;
(c) Have reasonable access to and inspect, examine and make copies of the books and records and any and all accounts, data and income tax and other tax returns of the Borrower during regular business hours of the Borrower and following prior reasonable notice; or
(d) Take on behalf of the Owners whatever other action at law or in equity as may appear necessary or desirable to collect the amounts then due and thereafter to become due, or to enforce performance and observance of any obligations, agreement or covenant of the Borrower under this Senior Loan Agreement or the rights of the Owners. Any amounts collected pursuant to action taken under this Section and the Security Documents paid to the Trustee shall be applied in accordance with Section 7.3 of the Indenture. Any rights and remedies as are given to the Issuer under this Senior Loan Agreement will also extend to the Owners of the Series 2017 Bonds, and the Trustee, subject to the provisions of the Indenture, will be entitled to the benefit of all covenants and agreements contained in this Senior Loan Agreement, subject to the terms of the Security Documents. In case proceedings shall be pending...
Remedies on Event of Default. Upon the occurrence of any Event of Default, the County may exercise any of the following remedies against the defaulting entity, any of which may be exercised at any time during the periods permitted under the following clauses:
(a) terminate this Agreement by delivery of written notice to the defaulting entity not less than thirty (30) days prior to the termination date specified therein;
(b) have access to and inspect, examine, and make copies of the books, records, and accounts of the defaulting entity pertaining to the construction, acquisition, or maintenance of the Project; or
(c) take whatever action at law or in equity as may appear necessary or desirable to collect the amounts then due and thereafter to become due or to enforce observance or performance of any covenant, condition, or agreement of the defaulting entity under this Agreement.
Remedies on Event of Default. 3.1. If (a) an Event of Default (as defined in the Loan Agreement) shall occur under the Loan Agreement, or (b) Pledgor shall default in the due performance or observance of any of the covenants or agreements contained in this Agreement and such default shall continue unrememdied for a period of ten (10) business days following written notice thereof from Pledgee, (each an "Event of Deafult" under this Agreement) then, and only then, Pledgee shall have such rights and remedies with respect to the Collateral or any part thereof and the proceeds thereof as are provided by the UCC and such other rights and remedies with respect thereto which it may have at law or in equity or under this Agreement including, without limitation, to the extent not inconsistent with the provisions of the UCC or other applicable law, the right to (i) transfer into Pledgee's name or into the name of its nominee or nominees or account at a Depository Trust Company, for the benefit of Pledgee, all or any portion of the Collateral and thereafter receive all interest and cash dividends accruing and paid thereon, vote the same, give all consents, waivers and ratifications in respect thereof and otherwise act with respect thereto as though it were the outright owner thereof and (ii) sell all or any portion of the Collateral at any broker's board or at public or private sale (in compliance with the terms of the UCC), each without prior notice to Pledgor or any other person, except as otherwise required by law (and if notice is required by law, after 10 business days prior written notice), at such place or places and at such time or times and in such manner and for such consideration as Pledgee may determine in its reasonable discretion, and apply the proceeds so received, first to the payment of the reasonable costs and expenses incurred by Pledgee in connection with such sale, including reasonable attorneys' fees and legal expenses, second to the repayment of the Obligations, whether on account of principal, interest, premium, or otherwise as Pledgee in its reasonable discretion may elect, and then to pay the balance, if any, to Pledgor or as otherwise required by law. If such proceeds are insufficient to pay the Obligations in full, Pledgor shall be liable for the deficiency.
3.2. Pledgor recognizes that Pledgee, after the occurrence and during the continuance of an Event of Default by Pledgor, may be unable to effect public sale of all or a portion of the Collateral by reason of certai...
Remedies on Event of Default. Upon the occurrence of an Event of Default as specified in Paragraph 6 hereof, Company may then elect to sell all or any part of the Collateral or may elect to exercise any other rights or pursue any other lawful remedies pursuant to applicable provisions of the California Commercial Code. The Company may buy all or any part of the Collateral at any such sale. The proceeds of any such sale shall be applied, in order, to the following:
(a) The reasonable expenses of retaking, holding, preparing for sale, selling, and the like, including, without limitation, reasonable attorneys' fees and legal expenses incurred by the Company;
(b) The unpaid balance of principal and interest due under the Promissory Note(s). The surplus, if any, shall be paid to the person or persons entitled thereto. If there be a deficiency, Executive shall be personally liable to the Company for any such deficiency. Upon the occurrence of an Event of Default, the Company may propose to accept the Collateral, which acceptance shall discharge any then undischarged obligation of Executive hereunder, all as in accordance with applicable provisions of the California Commercial Code.
Remedies on Event of Default. Upon the occurrence of any Event of Default, the County may: (i) terminate this Agreement by thirty (30) days’ notice to the Company in writing specifying the termination date; (ii) upon providing a signed nondisclosure statement substantially in the form attached as Exhibit A hereto, have access to and inspect, examine and make copies of, the books, records and accounts of the Company pertaining to the Project; or (iii) take whatever action at law or in equity as may appear necessary or desirable to collect any FILOT Payments and Additional Payments then due or to enforce observance or performance of any covenant or agreement of the Company under this Agreement, including without limitation enforcement of a statutory lien on the Project for any non-payment of FILOT Payments hereunder.
Remedies on Event of Default. Whenever any Event of Default shall have occurred and be continuing, the Lessor shall have the right, at its sole option, to take one or any combination of the following remedial steps:
(a) By written notice to Xxxxxx received in such Fiscal Year, declare an amount equal to the Rental Payments due in the Fiscal Year of Lessee in which the Event of Default occurred to be immediately due and payable;
(b) With or without terminating the Lease, disable or retake possession of the Equipment and sell, lease or sublease it or any item thereof, for the account of Lessee, holding Lessee liable for (i) all payments due up to the effective date of such selling, leasing or subleasing; and (ii) the difference, if any, between the purchase price, rental and other amounts paid by the lessee or sublessee pursuant to such sale, lease or sublease and all amounts payable by Lessee, including the Termination Value;
(c) Require the Equipment to be delivered to Lessor pursuant to Section 7.02(b); or
(d) Take whatever other action at law or in equity as may appear necessary or desirable to collect the payments then due or to enforce its security interest in the Equipment, or to enforce performance and observance of any obligation, agreement or covenant of Lessee under the Lease.
