Rights and Remedies Upon an Event of Default. If an Event of Default shall have occurred and be continuing, subject to the receipt of all required regulatory approvals:
(a) The Secured Party shall, after giving written notice to the Pledgor specifying the action to be taken, register any or all shares of the Pledged Securities held by the Secured Party in the name of the Secured Party.
(b) The Secured Party may demand, sxx for, collect or make any compromise or settlement the Secured Party deems suitable in respect of the Pledged Securities held by it hereunder.
(c) The Secured Party shall have all of the rights and remedies with respect to the Pledged Securities of a secured party under the UCC.
(d) The Secured Party may, upon fifteen (15) days prior written notice to the Pledgor of the time and place, with respect to the Pledged Securities, sell, lease, assign or otherwise dispose of all or any of such Pledged Securities, at such place or places as the Secured Party deems best, and for cash or on credit for future delivery (without thereby assuming any credit risk), at public or private sale, without demand of performance or notice of intention to erect any such disposition or of time or place thereof (except such notice as is required hereunder or by applicable statute and cannot be waived) and the Secured Party or anyone else may be the purchaser, lessee, assignee or recipient of any or all of the Pledged Securities so disposed of at public sale (or, to the extent permitted by law, at any private sale), and thereafter hold the same absolutely, free from any claim or right of whatsoever kind, including any equity of redemption, of the Pledgor, any such demand, notice or right and equity being hereby expressly waived and released. The net proceeds of any sale of Pledged Securities pursuant to this Section 8 shall be applied first to the repayment of the outstanding principal and accrued interest under the Note and any reasonable costs and expenses of Secured Party (including attorney's fees, costs and disbursements) incurred by Secured Party in enforcing its rights under this Agreement and only after so applying such net proceeds and after such payment need the Secured Party account for the surplus, if any, to the Pledgor, or to whomsoever may be lawfully entitled to receive the same, or as a court of competent jurisdiction my direct.
Rights and Remedies Upon an Event of Default. (a) Notice of Intent to terminate
(i) Upon (or following) the occurrence of a GOB Event of Default or a Company Event of Default, as the case may be, that is not cured within the applicable period (if any) for cure, the non-defaulting party may, at its option, initiate termination of this Agreement by delivering a notice (a “Notice of Intent to Terminate”) of its intent to terminate this Agreement to the defaulting Party copied to the other Parties.
(ii) The Notice of Intent to Terminate shall specify in reasonable detail the Company Event of Default, the GOB Event of Default, as the case may be, giving rise to such Notice of Intent to Terminate.
Rights and Remedies Upon an Event of Default. (a) Notice of Intent to Terminate
(i) Upon the occurrence of a BPDB Event of Default or a Company Event of Default, as the case may be, that is not cured within the applicable period (if any) for cure, the non-defaulting party may, at its option, initiate termination of this Agreement by delivering a notice (a “Notice of Intent to Terminate”) of its intent to terminate this Agreement to the defaulting Party.
(ii) The Notice of Intent to Terminate shall specify in reasonable detail the Company Event of Default or the BPDB Event of Default, as the case may be, giving rise to such Notice of Intent to Terminate.
Rights and Remedies Upon an Event of Default. If an Event of Default shall occur under this Agreement, in addition to any other rights and remedies which may be available to Bank and without limiting any other rights and remedies granted to Bank in this Agreement, the other Loan Documents and at law and in equity, including, without limitation, the rights and remedies provided to Bank under the Code, which rights and remedies are fully exercisable by Bank as and when provided herein and therein, Bank shall have the rights and remedies set forth below in this Section 9.1, any and all of which it may exercise at its election, without notice of its election and without demand.
Rights and Remedies Upon an Event of Default. Upon the occurrence of any Event of Default specified in (a) in the case of this Article III, other than Sections 3.5 and 3.7, this Note may, at the election of the Holder, become immediately due and payable, and (b) in the case of Section 3.5 or Section 3.7, this Note shall become immediately due and payable and, upon this Note becoming immediately due and payable, the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal to the Principal Amount then outstanding plus accrued and unpaid interest (including any Default Interest) through the date of full repayment multiplied by 125% (collectively the “Default Amount”), as well as all reasonable and documented out of pocket costs, including, without limitation, legal fees and expenses, of collection, all without demand, presentment or notice, all of which hereby are expressly waived by the Borrower, but limited to, in the case of fees and expenses of legal counsel, to one (1) primary legal counsel of Xxxxxx. Holder may, in Xxxxxx’s sole discretion, convert all or any portion of this Note (including the Default Amount) into Common Stock pursuant to the terms of this Note (for the avoidance of doubt, this shall apply even if such conversion occurs after the Maturity Date). For purposes of payments in Common Stock, the conversion formula set forth in Section 1.2 shall apply as well as all other provisions of this Note. The Holder shall be entitled to exercise all other rights and remedies available at law or in equity.
Rights and Remedies Upon an Event of Default. If an Event of Default shall occur under this Agreement, in addition to any other rights and remedies which may be available to the Banks and without limiting any other rights and remedies granted to the Banks in this Agreement, the other Loan Documents and at law and in equity, including, without limitation, the rights and remedies provided to the Banks under the Code, which rights and remedies are fully exercisable by each Bank as and when provided herein and therein, the Banks shall have the rights and remedies set forth below in this Section 9.1, any and all of which any Bank may exercise at its election, without notice to Borrower of its election and without demand, but subject to the rights of each other Bank under the Intercreditor Agreement, and with immediate written notice to each other Bank of the exercise of any such right or remedy.
Rights and Remedies Upon an Event of Default. 12.4.1 If a Company Event of Default has occurred and the Company Event of Default has not been cured within the period specified in Clause 12.3, then JPS, in its sole discretion, may:
(a) terminate this Agreement after delivering written notice to the Company and the OUR; and/or
Rights and Remedies Upon an Event of Default. Upon the occurrence and during the continuation of any Event of Default specified in this Article III, this Note shall become immediately due and payable and the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount (the “Default Amount”) equal to the Principal Amount then outstanding plus accrued interest (including any Default Interest) through the date of full repayment multiplied by 125%. Holder may, in its sole discretion, determine to accept payment part in Common Stock and part in cash. For purposes of payments in Common Stock, the conversion formula set forth in Section 1.2 shall apply. Upon an uncured Event of Default, all amounts payable hereunder shall immediately become due and payable, all without demand, presentment or notice, all of which hereby are expressly waived by the Borrower, together with all costs, including, without limitation, legal fees and expenses, of collection, and the Holder shall be entitled to exercise all other rights and remedies available at law or in equity.
Rights and Remedies Upon an Event of Default. Upon the occurrence of any Event of Default specified in this Article III, this Note shall become immediately due and payable, and the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, the greater of (i) an amount equal to the Principal Amount then outstanding plus accrued interest (including any Default Interest) through the date of full repayment multiplied by 125% (collectively the “Default Amount”) or (ii) the “parity value” of the Default Amount, where parity value means (a) the highest number of shares of Common Stock issuable upon conversion of such Default Amount in accordance with the terms of this Note (without giving effect to any beneficial ownership limitations contained in this Note), treating the date that the respective Event of Default occurs as the “Conversion Date” for purposes of determining the Conversion Price, multiplied by (b) the volume weighted average price for the Common Stock on the date that the respective Event of Default occurs (the “Default Parity Amount”), plus, in each such case, all costs, including, without limitation, legal fees and expenses, of collection, all without demand, presentment or notice, all of which hereby are expressly waived by the Borrower. The Holder may convert the greater of the (i) Default Amount or (ii) Default Parity Amount into Common Stock pursuant to the terms of this Note (including but not limited to the conversion formula set forth in this Note as well as all other provisions of this Note). The Holder shall be entitled to exercise all other rights and remedies available at law or in equity.
Rights and Remedies Upon an Event of Default. Upon the occurrence and during the continuation of any Event of Default specified in this Article III which remains uncured for five (5) days after written notice from Holder provided to Borrower, this Note shall become immediately due and payable and the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount (the “Default Amount”) equal to the Principal Amount then outstanding plus accrued interest (including any Default Interest) through the date of full repayment multiplied by one hundred twenty-five percent (125%). Holder may, in its sole discretion, determine to accept payment part in Common Stock and part in cash. For purposes of payments in Common Stock, the conversion formula set forth in Section 1.2 shall apply. Upon an uncured Event of Default, all amounts payable hereunder shall immediately become due and payable, all without demand, presentment or notice, all of which hereby are expressly waived by the Borrower, together with all costs, including, without limitation, legal fees and expenses, of collection, and the Holder shall be entitled to exercise all other rights and remedies available at law or in equity, including, without limitation.
