Rights Following Default Sample Clauses

Rights Following Default. If any Event of Default shall have occurred, then so long as such Event of Default shall continue, and whether or not the Collateral Trustee or any Sharing Secured Party exercises any available right to declare any Sharing Obligation due and payable or seeks or pursues any other relief or remedy available to it under applicable law or under or in respect of this Agreement, the Sharing Intercreditor Agreement, the Solutia Credit Agreement, the Astaris Guaranty Agreement, the Co-gen Participation Agreement, the Co-gen Guaranty Agreement, the Co-gen Lease, the Designated Letters of Credit, the Senior Notes Documents or any other agreement relating to such Sharing Obligation, all dividends and other distributions on the Stock Collateral shall be paid directly to the Collateral Trustee and retained by it in the Shared Collateral Account as part of the Stock Collateral, subject to the terms of this Agreement, and, if the Collateral Trustee shall so request in writing, the Grantors jointly and severally agree to execute and deliver to the Collateral Trustee appropriate additional dividend, distribution and other orders and documents to that end, PROVIDED that if such Event of Default is cured, any such dividend or distribution theretofore paid to the Collateral Trustee shall, upon the request of the Grantors (except to the extent theretofore applied to the Sharing Obligations), be returned by the Collateral Trustee to the Grantors.
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Rights Following Default. (a) Upon and following a Default, the Secured Parties shall have all rights and remedies with respect to the Collateral afforded by the Uniform Commercial Code, as from time to time in effect in the State of New York (the "Code"), to a secured creditor having a security interest in property to which Article 9 thereof applies. Without limiting the generality of the foregoing, the Secured Parties, without demand of performance or other demand, presentment, protest, advertisement or notice of any kind (except any notice required by law referred to below) to or upon Pledgor or any other person or entity (all and each of which demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, assign, give option or options to purchase or otherwise dispose of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels at public or private sale or sales, upon such terms and conditions as it may deem advisable and at such prices as they may deem best, for cash or on credit or for future delivery without assumption of any credit risk. Pledgor acknowledges that private sales may be made at prices and other terms less favorable to the seller than if such Collateral were sold at public sale, and that the Secured Party has no obligation to delay the sale of any such Collateral for the period of time necessary to permit the Company or Pledgor to register the Collateral for public sale under applicable securities laws. Pledgor agrees that any private sales made under the foregoing circumstances shall not be deemed to have been in a commercially unreasonable manner for the sole reason that it is a private sale. The Secured Parties shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold. The Secured Parties shall apply any proceeds from time to time held by either of them and the net proceeds of any such collection, recovery, receipt, appropriation, realization or sale, after deducting all reasonable costs and expenses of every kind incurred in respect thereof or incidental to the care or safekeeping of any of the Collateral or in any way relating to the Collateral or the rights of the Secured Parties, including, without limitation, reasonable at...
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Rights Following Default. If any Event of Default shall have occurred and the Administrative Agent shall have made a request therefore to the Borrower, then so long as such Event of Default shall continue, and whether or not the Administrative Agent or any Secured Party exercises any available right to declare any Secured Obligation due and payable or seeks or pursues any other relief or remedy available to it under applicable law or under any Loan Document or any other agreement relating to such Secured Obligation, all dividends and other distributions on the Equity Collateral shall be paid directly to the Administrative Agent and retained by it in the Lender Collateral Account as part of the Equity Collateral, subject to the terms of this Agreement, and, if the Administrative Agent shall so request in writing, the Obligors jointly and severally agree to execute and deliver to the Administrative Agent appropriate additional dividend, distribution and other orders and documents to that end, provided that if such Event of Default is cured, any such dividend or distribution theretofore paid to the Administrative Agent shall, upon the request of the Obligors (except to the extent theretofore applied to the Secured Obligations), be returned by the Administrative Agent to the Obligors.
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Rights Following Default. Upon the occurrence of an event of default, and in addition to any other rights and remedies Amtrak may have, at its option Amtrak may: (i) declare all sums due and to become due hereunder immediately due and payable; (ii) proceed by appropriate court action to enforce performance by Operator of any and all of its obligations hereof and to recover damages for the breach thereof; (iii) demand that Operator deliver the leased locomotives and baggage car forthwith to Amtrak at Operator's expense to Amtrak's Hialeah facility; (iv) without notice or legal process, enter into any premises of or under control of Operator or any agent of Operator where the leased locomotives and baggage car may be and retake all or any part thereof, in accordance with applicable law, or (v) cease providing service until the Default (as defined above) is cured. If such circumstances occur, Operator expressly waives all rights to possession of the leased locomotives and all claims for damages related to any such retaking. In addition, following default and upon notice to Operator, Amtrak may terminate this Agreement. Notwithstanding the above, Amtrak agrees that if Operator loses its trackage rights, the contract would terminate and Amtrak would not seek recovery for the fees due under the unfinished term of the contract.
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Rights Following Default. If any Event of Default shall have occurred, then so long as such Event of Default shall continue, and whether or not the Trustee exercises any available right to declare any Secured Obligation due and payable or seeks or pursues any other relief or remedy available to it under applicable law or under or in respect of this Agreement or the Indenture, all dividends and other distributions on the Stock Collateral shall be paid directly to the Trustee and retained by it in the Collateral Account as part of the Stock Collateral, subject to the terms of this Agreement, and, if the Trustee shall so request in writing, the Grantor Parties jointly and severally agree to execute and deliver to the Trustee appropriate additional dividend, distribution and other orders and documents to that end, provided that if such Event of Default is cured, any such dividend or distribution theretofore paid to the Trustee shall, upon request of the Grantor Parties (except to the extent theretofore applied to the Secured Obligations), be returned by the Trustee to the Grantor Parties.
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Rights Following Default. In the event that there has occurred an Event of Default, then so long as such Event of Default or any other Event of Default is continuing, and whether or not Pledgee exercises any option to declare the Notes due and payable or pursues any other remedy under the Notes or this Agreement, Pledgee, or its nominee or nominees, shall, upon written demand delivered to Pledgor, have the sole and exclusive right to exercise all voting, consensual and other powers of ownership pertaining to the Pledged Shares, including, without limitation, the right to receive cash dividends, and shall exercise such powers in such manner as Pledgee, in its sole and absolute discretion, shall determine to be necessary, appropriate or advisable. This Agreement shall constitute an irrevocable proxy during the term hereof empowering Pledgee to exercise all voting rights with respect to the Pledged Shares upon the occurrence of an Event of Default and the delivery by Pledgee of such demand until and unless such Event of Default shall have been cured or waived by Pledgee.
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Rights Following Default. If any Event of Default ------------------------ shall have occurred, then so long as such Event of Default shall continue, and whether or not the Trustee or any other Junior Secured Party exercises any available right to declare any Junior Secured Obligation due and payable or seeks or pursues any other relief or remedy available to it under applicable law or under or in respect of this Agreement or the 2009 Notes Junior Security Agreement -------------------------
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Related to Rights Following Default

  • Actions following an Event of Default On, or at any time after, the occurrence of an Event of Default:

  • Existing Defaults No Loan Party is in default in the performance, observance or fulfillment of any of the obligations, contained in any Contractual Obligation applicable to it, and no condition exists which, with or without the giving of notice or the lapse of time, would constitute a default under such Contractual Obligation, except, in any such case, where the consequences, direct or indirect, of such default or defaults, if any, could not reasonably be expected to have a Material Adverse Effect on the Loan Parties, taken as a whole.

  • Right to Terminate Following Event of Default If at any time an Event of Default with respect to a party (the “Defaulting Party”) has occurred and is then continuing, the other party (the “Non-defaulting Party”) may, by not more than 20 days notice to the Defaulting Party specifying the relevant Event of Default, designate a day not earlier than the day such notice is effective as an Early Termination Date in respect of all outstanding Transactions. If, however, “Automatic Early Termination” is specified in the Schedule as applying to a party, then an Early Termination Date in respect of all outstanding Transactions will occur immediately upon the occurrence with respect to such party of an Event of Default specified in Section 5(a)(vii)(1), (3), (5), (6) or, to the extent analogous thereto, (8), and as of the time immediately preceding the institution of the relevant proceeding or the presentation of the relevant petition upon the occurrence with respect to such party of an Event of Default specified in Section 5(a)(vii)(4) or, to the extent analogous thereto, (8).

  • Termination and Default 86 Section 10.1

  • No Existing Default No Default or Event of Default shall have occurred and be continuing (i) on the borrowing, continuation or conversion date with respect to such Loan or after giving effect to the Loans to be made, continued or converted on such date or (ii) on the issuance or extension date with respect to such Letter of Credit or after giving effect to the issuance or extension of such Letter of Credit on such date.

  • Waiver of Event of Default The Majority Certificateholders may, on behalf of all Certificateholders, by notice in writing to the Trustee, direct the Trustee to waive any events permitting removal of any Master Servicer under this Agreement, provided, however, that the Majority Certificateholders may not waive an event that results in a failure to make any required distribution on a Certificate without the consent of the Holder of such Certificate. Upon any waiver of an Event of Default, such event shall cease to exist and any Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other event or impair any right consequent thereto except to the extent expressly so waived. Notice of any such waiver shall be given by the Trustee to the Rating Agency.

  • Waiver of Existing Defaults Holders of not less than a majority in aggregate principal amount of the then outstanding Notes of any series by notice to the Trustee may on behalf of the Holders of all of the Notes of such series waive any existing Default or Event of Default and its consequences hereunder, except a continuing Default or Event of Default in the payment of the principal of, premium, if any, or interest on, the Notes of such series (including in connection with an offer to purchase) (provided, however, that the Holders of a majority in aggregate principal amount of the then outstanding Notes of such series may rescind an acceleration and its consequences, including any related payment default that resulted from such acceleration). Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

  • Termination Upon Event of Default If Foothill terminates this Agreement upon the occurrence of an Event of Default, in view of the impracticability and extreme difficulty of ascertaining actual damages and by mutual agreement of the parties as to a reasonable calculation of Foothill's lost profits as a result thereof, Borrower shall pay to Foothill upon the effective date of such termination, a premium in an amount equal to the Early Termination Premium. The Early Termination Premium shall be presumed to be the amount of damages sustained by Foothill as the result of the early termination and Borrower agrees that it is reasonable under the circumstances currently existing. The Early Termination Premium provided for in this Section 3.7 shall be deemed included in the Obligations.

  • Rights Upon Event of Default If an Event of Default, other than an Event of Default described in Section 5.01(iv) or (v) above, shall have occurred and be continuing the Indenture Trustee or the Required Holders may declare the principal amount of the Notes immediately due and payable at par. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article Five provided, the Required Holders may rescind such declaration if (i) the Issuer has made all payments of principal of and interest on all Notes that have become due and payable (other than by reason of acceleration of the Notes) and (ii) the Issuer has paid all amounts due and payable to the Indenture Trustee. If an Event of Default described in Section 5.01(iv) or (v) shall have occurred and be continuing, the principal amount of the Notes shall become immediately due and payable.

  • Additional Event of Default The following will constitute an additional Event of Default with respect to Party B: "NOTE ACCELERATION NOTICE. A Note Acceleration Notice is served on Party B in relation to the Relevant Notes."

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