Repayment on Default Sample Clauses

Repayment on Default. (a) e Without limiting the rights of the Housing Agency, in the event of Default by the Providere the Housing Agency may, by serving notice on the Provider, require the Provider to pay ore repay to the Housing Agency (Repayment Notice) any or all ofthe Funding and any intereste earned on the Funding.e (b) e Clause 5.2(a) applies regardless of whether, as at the date of the Repayment Notice, part ore all of the Funding has already been expended by the Provider.e (c) e The Repayment Notice must contain the following information:e (i) e the Default on which the Housing Agency relies to require repayment of the Funding;e (ii) the amount of Funding (and any interest and surplus) required to be repaid by thee Provider to the Housing Agency; and (iii) e the date on which the repayment of Funding (and any interest and surplus) must bee paid to the Housing Agency.e (d) e The Provider must pay to the Housing Agency the amount of Funding (and any interest ande surplus) stipulated in the Repayment Notice by the due date stipulated in that Repaymente Notice.e (e)e The amount of Funding (and any interest and surplus) stipulated in the Repayment Notice ise a debt due and owing by the Provider and, without limiting the rights of the Housinge Agency, the Housing Agency may commence legal proceedings in any court of competente jurisdiction to recover that debt.e (t) e If the Provider fails to pay an amount on its due elate for payment under clause 5.2(a), thee Provider must on demand pay the Housing Agency interest calculated at the Overdue Ratee on the amount in default from the due date until it is paid in full.e

Repayment on Default. 5.1 The Company will immediately notify the Noteholders of the happening of an Event of Default. 5.2 On the occurrence of an Event of Default, any Noteholder shall be entitled by notice in writing to the Company to require immediate repayment of the Indebtedness payable in respect of each Loan Note of which he is the holder (or any part, being £1 in principal amount or a multiple of it), up to but excluding the date of payment of such principal amount, and the Company will make such repayment. 5.3 An Event of Default will occur if: (a) non-payment: the Company fails to pay any principal or interest on any of the Loan Notes within 10 Business Days of the due date for payment; (b) breach of obligations: the Company fails to perform or observe any material covenant, condition or provision contained in this Instrument and that failure is not remedied within 5 days of notice of such default being given in writing to the Company by any Noteholder requiring the Company to remedy the same; (c) cross-default: the Company or any other member of the Group fails to pay any Financial Indebtedness when due or within any originally applicable grace period or any Financial Indebtedness of any member of the Group is declared to be or otherwise becomes due and payable or is cancelled before its specified maturity as a result of an event of default (however described); (d) insolvency: the Company or any other member of the Group is (or could be deemed by law or by a court to be) insolvent or unable to pay its debts (as defined in section 123 of the Insolvency Act 1986), stops, suspends or threatens to stop or suspend payment of all or any material part of its indebtedness or commences negotiations with any one or more of its creditors with a view to the general readjustment or re-scheduling of all or any material part of its indebtedness or makes a general assignment for the benefit of, or composition with, any of its creditors (or any class of its creditors) or a moratorium is agreed or declared in respect of, or affecting, all or a material part of its indebtedness; (e) enforcement proceedings: a distress, attachment, execution or other legal process is levied or enforced or judgment obtained upon or against a material part of the property of the Company or other member of the Group and is not discharged within 5 days of having been levied or obtained; (f) winding-up: an effective resolution is passed or an order is made for the winding up, dissolution or reorganisation of...

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Repayment on Default. (a) Without limiting the rights of the.Housing Agency, in the event of Default by the Provider the Housing Agency may, by serving notice on the Provider, require the Provider to pay or repay to the Housing Agency (Repayment Notice) any or all of the Funding and any interest earned on the Funding. (b) Clause 5.2(a) applies regardless of whether, as at the date of the Repayment Notice, part or all of the Funding has already been expended by the Provider. (c) The Repayment Notice must contain the following information: (i) the Default on which the Housing Agency relies to require repayment of the Funding; (ii) the amount of Funding (and any interest and surplus) required to be repaid by the Provider to the Housing Agency; and (iii) the date on which the repaymep.t of Xxxx.xxx (�g any interest and surplus) must be paid to the Housing Agency. (d) The Provider must pay to the Housing Agency the amount of Funding (and any interest and surplus) stipulated in the Repayment Notice by the due date stipulated in that Repayment Notice.

Repayment on Default. The whole of the Loan with accrued interest thereon will become immediately due and payable upon the occurrence of any of the following (and you will promptly notify me in writing of the occurrence thereof):- (a) TMNA fails duly to perform or observe any obligation contained in this letter; (b) an order is made or effective resolution is passed for the dissolution or winding-up of TMNA or any other resolution is passed or order made having like effect in the jurisdiction in which it is passed or made; (c) TMNA is insolvent or calls a meeting of its creditors or makes any arrangement or composition with its creditors or does or suffers anything having like effect in any jurisdiction to which it is from time to time subject; (d) a receiver or trustee is appointed over the whole or any of the assets of TMNA any person is appointed to manage the affairs of TMNA or receive or dispose of its assets pursuant to any security issued or entered into by TMNA or to an order of a court of competent jurisdiction; (e) TMNA ceases to carry on any substantial part of its business or ceases to be entitled so to carry it on or disposes of any part of its business or assets (otherwise than in the normal course of its business); (f) any execution or distress or distraint is levied against TMNA or the whole or any of its assets which remains undischarged for 14 days or if any assets of TMNA are seized or fall to be disposed of pursuant to an order of a court of competent jurisdiction provided that notwithstanding the foregoing the proposed merger of TMNA and Transmedia Europe, Inc. and any consequential hive-down of assets shall not constitute an event of default.

Related to Repayment on Default

Payment on Maturity Date Borrower shall pay to Lender on the Maturity Date the outstanding principal balance of the Loan, all accrued and unpaid interest and all other amounts due hereunder and under the Note, the Mortgage and the other Loan Documents.
Termination on Default The Authority may terminate this Framework Agreement by serving written notice on the Supplier with effect from the date specified in such notice where the Supplier commits a Material Default and if: 26.8.1 the Supplier has not remedied the Material Default to the satisfaction of the Authority within twenty (20) Working Days, or such other period as may be specified by the Authority, after issue of a written notice specifying the Material Default and requesting it to be remedied; or 26.8.2 the Material Default is not, in the reasonable opinion of the Authority, capable of remedy.
Upon Default Landlord shall have the right to pursue any one or more of the following remedies: (a) Terminate this Lease, in which case Tenant shall immediately surrender the Premises to Landlord. If Tenant fails to surrender the Premises, Landlord, in compliance with Law, may enter upon and take possession of the Premises and remove Tenant, Tenant’s Property and any party occupying the Premises. Tenant shall pay Landlord, on demand, all past due Rent and other losses and damages Landlord suffers as a result of Tenant’s Default, including, without limitation, all Costs of Reletting (defined below) and any deficiency that may arise from reletting or the failure to relet the Premises. “Costs of Reletting” shall include all reasonable costs and expenses incurred by Landlord in reletting or attempting to relet the Premises, including, without limitation, legal fees, brokerage commissions, the cost of alterations and the value of other concessions or allowances granted to a new tenant.
Payments of Notes on Default Suit Therefor 33 Section 6.05. Application of Monies Collected by Trustee 35 Section 6.06. Proceedings by Holders 36 Section 6.07. Proceedings by Trustee 37 Section 6.08. Remedies Cumulative and Continuing 37 Section 6.09. Direction of Proceedings and Waiver of Defaults by Majority of Holders 37 Section 6.10. Notice of Defaults 38 Section 6.11. Undertaking to Pay Costs 38
Termination; Default We may reduce the Credit Limit or terminate your ability to receive further credit under this Agreement at any time without notice. You may terminate your ability to receive further credit under this Agreement by giving us notice of termination and returning to us all Cards and Credit Devices. Termination by you will be effective on the date we receive written notice from you along with the Cards and Credit Devices (unless they are lost or stolen, in which case you agree to sign an affidavit to that effect and stating that no credit received after the date of loss or theft was authorized by you).
Payments of Notes on Default; Suit Therefor If an Event of Default described in clause (a) or (b) of Section 6.01 shall have occurred, the Company shall, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of the Notes, the whole amount then due and payable on the Notes for principal and interest, if any, with interest on any overdue principal and interest, if any, at the rate borne by the Notes at such time, and, in addition thereto, such further amount as shall be sufficient to cover any amounts due to the Trustee under Section 7.06. If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon the Notes and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Notes, wherever situated. In the event there shall be pending proceedings for the bankruptcy or for the reorganization of the Company or any other obligor on the Notes under Title 11 of the United States Code, or any other applicable law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Company or such other obligor, the property of the Company or such other obligor, or in the event of any other judicial proceedings relative to the Company or such other obligor upon the Notes, or to the creditors or property of the Company or such other obligor, the Trustee, irrespective of whether the principal of the Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand pursuant to the provisions of this Section 6.04, shall be entitled and empowered, by intervention in such proceedings or otherwise, to file and prove a claim or claims for the whole amount of principal and accrued and unpaid interest, if any, in respect of the Notes, and, in case of any judicial proceedings, to file such proofs of claim and other papers or documents and to take such other actions as it may deem necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceedings relative to the Company or any other obligor on the Notes, its or their creditors, or its or their property, and to collect and receive any monies or other property payable or deliverable on any such claims, and to distribute the same after the deduction of any amounts due to the Trustee under Section 7.06; and any receiver, assignee or trustee in bankruptcy or reorganization, liquidator, custodian or similar official is hereby authorized by each of the Holders to make such payments to the Trustee, as administrative expenses, and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for reasonable compensation, expenses, advances and disbursements, including agents and counsel fees, and including any other amounts due to the Trustee under Section 7.06, incurred by it up to the date of such distribution. To the extent that such payment of reasonable compensation, expenses, advances and disbursements out of the estate in any such proceedings shall be denied for any reason, payment of the same shall be secured by a lien on, and shall be paid out of, any and all distributions, dividends, monies, securities and other property that the Holders of the Notes may be entitled to receive in such proceedings, whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting such Holder or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. All rights of action and of asserting claims under this Indenture, or under any of the Notes, may be enforced by the Trustee without the possession of any of the Notes, or the production thereof at any trial or other proceeding relative thereto, and any such suit or proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Notes. In any proceedings brought by the Trustee (and in any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party) the Trustee shall be held to represent all the Holders of the Notes, and it shall not be necessary to make any Holders of the Notes parties to any such proceedings. In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of any waiver pursuant to Section 6.09 or any rescission and annulment pursuant to Section 6.02 or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Holders and the Trustee shall, subject to any determination in such proceeding, be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the Company, the Holders and the Trustee shall continue as though no such proceeding had been instituted.
Rights on Default On the occurrence of an Event of Default, we may exercise our rights under this clause, except that in the case of the occurrence of any Event of Default specified in paragraphs (b) or (c) of the definition of Events of Default (each a "Bankruptcy Default"), the automatic termination provision of this clause shall apply.
H2 Termination on Default H2.1 The Authority may terminate the Contract by written notice in accordance with clause A5.2 (Notices) to the Contractor with immediate effect if the Contractor commits a Default and if:
Termination Upon Default Either Party may terminate this Agreement in whole or in part in the event of a default by the other Party; provided however, that the non-defaulting Party notifies the defaulting party in writing of the alleged default and that the defaulting Party does not cure the alleged default within sixty (60) calendar days of receipt of written notice thereof. Default is defined to include: (a) A Party's insolvency or the initiation of bankruptcy or receivership proceedings by or against the Party; or (b) A Party's refusal or failure in any material respect properly to perform its obligations under this Agreement, or the violation any of the material terms or conditions of this Agreement.
Succession upon Default With respect to the Trust Fund, each of the following events shall constitute an Event of Default by Xxxxxx Xxx: (i) any failure by Xxxxxx Mae to distribute to Holders of Certificates of any Class any payment required to be made under the terms hereof which continues for a period of fifteen days after the date upon which written notice of such failure, requiring the same to be remedied, shall have been given to Xxxxxx Xxx by the Holders of Certificates of such Class representing Certificate Balances aggregating not less than 5% of the related Class Balance; or (ii) failure on the part of Xxxxxx Mae duly to observe or perform in any material respect any other of the covenants or agreements on the part of Xxxxxx Xxx in the Certificates or in this Trust Agreement which continues unremedied for a period of 60 days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to Xxxxxx Mae by the Holders of Certificates of any Class representing Certificate Balances aggregating not less than 25% of the aggregate of the Class Balances; or (iii) a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against Xxxxxx Xxx and such decree or order shall have remained in force undischarged or unstayed for a period of 60 days; or (iv) Xxxxxx Mae shall consent to the appointment of a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings relating to Xxxxxx Xxx or to all or substantially all of its property; or (v) Xxxxxx Mae shall admit in writing its inability to pay its debts generally as they become due, file a petition to invoke any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors, or voluntarily suspend payment of its obligations. Upon the occurrence of an Event of Default, and so long as such Event of Default shall not have been remedied, the Holders of Certificates of any Class representing Certificate Balances aggregating not less than 25% of the related Class Balance may (a) terminate all obligations and duties of Xxxxxx Xxx hereunder in its corporate capacity (other than its continuing guaranty obligations as set forth in Section 3.03) and as Trustee, and (b) name and appoint a successor or successors (in case such Holders of Certificates shall appoint a separate Person to act as Trustee) to succeed to and assume all of such obligations (other than its guaranty obligations as set forth in Section 3.03) and duties and to the legal title to the Underlying REMIC Certificates and other assets comprising the Trust Fund. Such actions shall be effected by notice in writing to Xxxxxx Mae and shall become effective upon receipt of such notice by Xxxxxx Xxx and the acceptance of such appointment by such successor or successors. On and after the receipt by Xxxxxx Mae of such written notice and the acceptance by the successor or successors to Xxxxxx Xxx, all obligations (other than its continuing obligations as set forth in Section 3.03) and duties imposed upon Xxxxxx Mae in its corporate capacity and in its capacity as Trustee under this Trust Agreement shall pass to and vest in the successor or successors named in the notice, and such successor or successors shall be authorized, and hereby are authorized, to take all such action and execute and deliver all such instruments and documents on behalf of Xxxxxx Xxx, as attorney in fact or otherwise, as may be necessary and appropriate to effect the purposes of such written notice, including, without limitation, the transfer of legal title in and to the Underlying REMIC Certificates comprising the Trust Fund and all proceeds and avails thereof then held by Xxxxxx Mae.

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