RESPONSE TO DEFAULT Sample Clauses

RESPONSE TO DEFAULT. Should an event of default occur, the State shall provide a notice of default to the GSA and shall give the GSA at least ten (10) calendar days to cure the default from the date the notice is sent via first-class mail to the GSA. If the GSA fails to cure the default within the time prescribed by the State, the State may do any of the following:
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RESPONSE TO DEFAULT. 11.1 If the Owner is in default of this Agreement, the Township may:
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RESPONSE TO DEFAULT. Should an event of default occur, DWR shall provide a notice of default to the Local Agency and shall give the Local Agency at least ten (10) calendar days to cure the default from the date the notice is sent via first-class mail to the Local Agency. If the Local Agency fails to cure the default within the time prescribed by the State, the State may do any of the following:
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RESPONSE TO DEFAULT. (a) Any time after an event of default (such default not having been previously cured), Secured Party at its option may declare all of the obligations (including but not limited to the Note) to be immediately due and payable, whereupon the same (including the outstanding balance of the Note with all accrued interest thereon) shall become immediately due and payable without presentment, demand, protest, notice of nonpayment, notice of acceleration or any other notice required by law relative thereto, all of which are hereby expressly waived by Debtor, anything contained herein to the contrary notwithstanding.
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Related to RESPONSE TO DEFAULT

  • Notice of Event of Default If the Mortgagee shall have Actual Knowledge of an Event of Default or of a Default arising from a failure to pay Rent, the Mortgagee shall give prompt written notice thereof to the Owner Trustee, the Owner Participant, Lessee, and each Note Holder. Subject to the terms of Sections 2.13, 4.03, 4.04, 4.08, 5.02 and 5.03 hereof, the Mortgagee shall take such action, or refrain from taking such action, with respect to such Event of Default or Default (including with respect to the exercise of any rights or remedies hereunder) as the Mortgagee shall be instructed in writing by a Majority in Interest of Note Holders. Subject to the provisions of Section 5.03, if the Mortgagee shall not have received instructions as above provided within 20 days after mailing notice of such Event of Default to the Note Holders, the Mortgagee may, subject to instructions thereafter received pursuant to the preceding provisions of this Section 5.01, take such action, or refrain from taking such action, but shall be under no duty to take or refrain from taking any action, with respect to such Event of Default or Default as it shall determine advisable in the best interests of the Note Holders; PROVIDED, HOWEVER, that the Mortgagee may not sell the Aircraft or any Engine without the consent of a Majority in Interest of Note Holders. For all purposes of this Trust Indenture, in the absence of Actual Knowledge on the part of the Mortgagee, the Owner Trustee or the Owner Participant, the Mortgagee, the Owner Trustee or the Owner Participant, as the case may be, shall not be deemed to have knowledge of a Default or an Event of Default (except, in the case of the Mortgagee, the failure of Lessee to pay any installment of Basic Rent within one Business Day after the same shall become due, if any portion of such installment was then required to be paid to the Mortgagee, which failure shall constitute knowledge of a Default) unless notified in writing by Lessee, the Owner Trustee, the Owner Participant or one or more Note Holders.

  • No Default No Default or Event of Default has occurred and is continuing.

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