Rights Upon Default. Upon and during the continuation of an Event of Default, the Non-Defaulting Party shall be entitled to:
(i) pursue any and all available legal and equitable remedies;
(ii) declare an Early Termination Date of this Agreement with respect to the obligations of the Defaulting Party without any liability or responsibility whatsoever except for obligations arising prior to the date of termination, by providing written notice to the Defaulting Party; provided, however, that this Agreement shall immediately terminate automatically and without notice in the case of any Event of Default in which a Supplier is the Defaulting Party occurring under subsections (i), (ii), (iii), (iv), (v), (vi), (vii) or (viii) of Section 5.1 of this Agreement and such date of automatic termination shall be deemed the Early Termination Date of this Agreement with respect to such Supplier; and
(iii) receive Damages in accordance with Section 5.3 of this Agreement. The Non-Defaulting Party shall be entitled to elect or pursue one or more of the above remedies.
Rights Upon Default. Upon and during the continuation of an Event of Default, the Non-Defaulting Party shall have the right to suspend performance, provided that such suspension shall not continue for longer than ten (10) Business Days. At any time during or subsequent to the temporary suspension of performance, the Non-Defaulting Party may proceed with the steps outlined in Sections 5.6 and 5.7. In addition to any other remedies available at law or in equity to the Non-Defaulting Party, if an Event of Default has occurred and is continuing, the Non-Defaulting Party shall have the right to implement either or both of the following remedies:
(i) Declare an Early Termination Date of this Agreement with respect to the obligations of the Defaulting Party without any liability or responsibility whatsoever except for obligations arising prior to the date of termination, by providing written notice to the Defaulting Party; provided, however, that this Agreement shall immediately terminate automatically and without notice in the case of any Event of Default in which a DS Supplier is the Defaulting Party occurring under subsections (i), (ii), (iii), (iv), (v), (vi), (vii) or (viii) of Section 5.1 of this Agreement and such date of automatic termination shall be deemed the Early Termination Date of this Agreement with respect to such DS Supplier; and
(ii) Receive Damages in accordance with Section 5.3 of this Agreement.
Rights Upon Default. Upon the occurrence and continuation of any Event of Default, Lessor, at its option, may declare this Lease to be in default (provided, however, that, in the case of an occurrence of any Event of Default described in Section 19.1(e) or (f), no such declaration shall be required) and take one or more of the following actions:
(a) Lessor may take all steps to protect and enforce the rights of Lessor or the obligations of Lessee hereunder, whether by action, suit or proceeding at Applicable Law or in equity (for the specific performance of any covenant, condition or agreement contained in this Lease, or in aid of the execution of any power herein granted, or for the enforcement of any other appropriate legal or equitable remedy) or otherwise as Lessor shall deem advisable to protect and enforce any rights of Lessor hereunder or to enforce the obligations of Lessee hereunder;
(b) Lessor may terminate this Lease by giving a written termination notice to Lessee specifying a date not less than THIRTY (30) days after the date of such notice on which the Term shall terminate and on such date the Term and the estate granted hereunder shall expire and terminate and all rights of Lessee under this Lease and the Operative Agreements to which it is a party shall cease on the termination date so specified; or
(c) Lessor, whether or not this Lease shall have been terminated pursuant to clause (b) of this Section 20.1, shall have the right to terminate Lessee's right to possession hereunder and to re-enter and take possession of the Leased Property hereunder or any part thereof by giving a written notice to Lessee to quit the Leased Property and surrender possession thereof on a date not less than THIRTY (30) days after the date of such notice, whereupon the right of Lessee to the possession of the Leased Property hereunder shall cease and terminate on such date, and Lessee shall be required to surrender the Leased Property to Lessor in accordance with Article 13 hereof and Lessor shall have the immediate and continuing right then and at any time and from time to time thereafter without further notice to re-enter upon or take possession of the Leased Property or any part thereof with or without legal proceedings (summary or otherwise), to remove all Persons and property therefrom to hold vacant the Leased Property, or to relet or sell it, in each case as Lessor may elect to do. Lessor shall have no liability to Lessee for or by reason of such entry or taking of possession ...
Rights Upon Default. Upon the occurrence of any Default and at any time thereafter, the Secured Party shall have the right to declare the Obligations, or any of them, immediately due and payable without notice, demand or protest, all of which are hereby waived, and shall have the following rights and remedies of a secured party under the UCC or available to the Secured Party under the Obligations or Loan Documents; all such rights and remedies being cumulative, not exclusive and enforceable alternatively, successively or concurrently:
(a) The right to enter at any time and from time to time, with or without judicial process or the aid and assistance of others, any premises where any Collateral may be located;
(b) The right without resistance or interference by Debtor, to take possession of the Collateral; and/or dispose of any Collateral where located; and/or require Debtor to assemble and make available to the Secured Party at the expense of Debtor any Collateral at a place designated by the Secured Party which is reasonably convenient to both parties;
(c) The right to remove any Collateral from where it is located for the purpose of effecting sale or other disposition thereof (and if any of the Collateral consists of motor vehicles the Secured Party may use Debtor’s license plates);
(d) The right to sell, resell, lease, assign and deliver, grant options for or otherwise dispose of any Collateral in its then condition or following any commercially reasonable preparation or processing, at the public or private sale or proceedings or otherwise, by one or more contracts, in one or more parcels, at the same or different times, with or without having the Collateral at the place of sale or other disposition, for cash and/or credit, and upon any terms, at such place(s) and time(s) and to such person(s) as the Secured Party deems best, all without demand, notice or advertisement whatsoever except that where an applicable statute requires reasonable notice of sale or other disposition Debtor hereby agrees that the sending of three (3) days notice by ordinary mail, postage prepaid, to any address of Debtor set forth in this Security Agreement shall be deemed reasonable notice thereof. If any Collateral is sold by the Secured Party upon credit or for future delivery, the Secured Party shall not be liable for the failure of the purchaser to pay for same and in such event the Secured Party may resell such Collateral. The Secured Party may buy any Collateral at any public sale and, if any ...
Rights Upon Default. If any event of default exists, Lender may exercise in any order one or more of the remedies described in the lettered subparagraphs of this section, and Borrower shall perform its obligations imposed thereby:
(a) Lender may require Borrower to turnover any and all Collateral to Lender.
(b) Lender or its agent may repossess any or all Collateral wherever found, may enter the premises where the Collateral is located and disconnect, render unusable and remove it, and may use such premises without charge to store or show the Collateral for sale.
(c) Lender may sell any or all Collateral at public or private sale, with or without advertisement or publication, may lease or otherwise dispose of it or may use, hold or keep it.
(d) Lender may require Borrower to pay to Lender on a date specified by Lender, (i) all accrued and unpaid interest, late charges and other amounts due under the Note or this Agreement as of such date, plus (ii) the remaining principal balance of the Note as of such date, plus (iii) interest at the Overdue Rate on the total of the foregoing (“Overdue Rate” means an interest rate per annum equal to the higher of 12% or 2% over the Prime Rate, but not to exceed the highest rate permitted by applicable law). If an event of default under section 12(f) of this Agreement exists, then Borrower will be automatically liable to pay Lender the foregoing amounts as of the next installment payment date under the Note unless Lender otherwise elects in writing.
(e) Borrower shall pay all reasonable costs, expenses and damages incurred by Lender because of the event of default or its actions under this section, including, without limitation any collection agency and/or attorney fees and expenses, any costs related to the repossession, safekeeping, storage, repair, reconditioning or disposition of the Collateral.
(f) Lender may xxx to enforce Borrower’s performance of its obligations under the Note and this Agreement and/or may exercise any other right or remedy then available to Lender at law or in equity. Lender is not required to take any legal process or give Borrower any notice before exercising any of the above remedies. If Lender is required to give notice, 10 calendar days advanced notice is reasonable notification. None of the above remedies is exclusive, but each is cumulative and in addition to any other remedy available to Lender. Lender’s exercise of one or more remedies shall not preclude its exercise of any other remedy. No action taken by Le...
Rights Upon Default. Lender may, at any time and from time to time after the occurrence and during the continuance of an Event of Default, whether before or after notification to any Customer and whether before or after the maturity of any of the Obligations: (A) enforce collection of any of the Accounts (including all Eligible Accounts) and Receipts of the Credit Parties or other amounts owed to the Credit Parties by suit or otherwise; (B) exercise all of the rights and remedies of the Credit Parties with respect to Proceedings brought to collect any Accounts (including all Eligible Accounts), Receipts, or other amounts owed to the Credit Parties; (C) surrender, release or exchange all or any part of any Accounts (including all Eligible Accounts), Receipts, or other amounts owed to the Credit Parties, or compromise or extend or renew for any period (whether or not longer than the original period) any indebtedness thereunder; (D) sell or assign any Account (including all Eligible Accounts) or Receipts of the Credit Parties, or other amount owed to the Credit Parties, upon such terms, for such amount and at such time or times as Lender deems advisable; (E) prepare, file and sign any Credit Parties’ name on any proof of claim in bankruptcy or other similar document against any Customer or other Person obligated to the Credit Parties; and (F) do all other acts and things which are necessary, in Lender’s sole discretion, to fulfill the Credit Parties’ obligations under this Agreement and the other Loan Documents and to allow Lender to collect the Accounts (including all Eligible Accounts), Receipts, or other amounts owed to the Credit Parties. In addition to any other provision hereof, Lender may at any time after the occurrence and during the continuance of an Event of Default, at the Credit Parties’ expense, notify any parties obligated on any of the Accounts (including all Eligible Accounts) and Receipts to make payment directly to Lender of any amounts due or to become due thereunder.
Rights Upon Default. In the event of:
a. Depositary’s failure to pay, when due, the whole or any part of the Public Money deposited with the Depositary;
b. The failure for any reason of any federal Government entity to receive promptly funds to be transmitted or otherwise handled by Depositary in the performance of the Services;
c. Any other default, failure, or breach in the observance or performance by Depositary of any of its obligations, duties, or requirements concerning deposits of Public Money hereunder or under any other agreement with Treasury;
d. Any representation or warranty of Depositary made herein being incorrect or untrue as of the date hereof or any date hereafter;
e. Any failure or suspension of active operations of Depositary, including but not limited to insolvency, bankruptcy, or unsatisfactory financial or safety and soundness conditions; or
f. Depositary being closed for business by law or by proper corporate action, or a receiver, or conservator, or liquidator, or any other officer being appointed for the purpose of terminating the business of the Depositary, then Depositary shall be in default of this Agreement and Treasury shall have all the rights and remedies of a secured party under all applicable federal and state laws with respect to the Collateral, including without limitation the right, without prior notice or demand, through such agents as Treasury may designate for the purpose, to forthwith unilaterally redeem or sell the Collateral, and any addition thereto or substitution therefore, or any part thereof, at either public or private sale, and apply the proceeds of such redemption or sale, after deducting all necessary or proper expense of such redemption or sale, to the payment of Public Money deposited with Depositary or the repayment of Public Money received by Depositary for transmission or handling, or both, with Depositary to remain liable for any deficiency, and with any surplus remaining from the proceeds of the redemption or sale of such securities after payment or repayment in full has been made, to be paid to Depositary, or its receiver or conservator. In the event of default, Treasury shall also have the right to unilaterally direct such agents as Treasury may designate for the purpose to instruct any Custodian of Collateral to liquidate the Collateral held in any Custody Account and pay the proceeds thereof to Treasury or its agent, and to exercise any and all other security entitlements with respect to the Custody Account and the...
Rights Upon Default. Upon the happening of an Event of Default specified in Subsections 7.01 (f) or (g), the obligations of the Banks and the LC Issuer to make Credit Extensions hereunder shall automatically terminate and all Obligations then outstanding hereunder and the interest accrued thereon shall automatically become immediately due and payable without any election or action on the part of the Administrative Agent, any Bank or the LC Issuer. Upon the happening and during the continuation of any other Event of Default, the Administrative Agent may, or upon the request of the Required Banks subject to Section 9.13, the Administrative Agent shall terminate or suspend the obligations of the Banks and the LC Issuer to make Credit Extensions hereunder, or declare the Obligations to be immediately due and payable, or both, and upon such declaration with respect to the Obligations they shall become immediately due and payable. In either case, the entire principal and interest shall thereupon become immediately due and payable, without notice (including, without limitation, notice of intent to accelerate maturity or notice of acceleration of maturity) and without presentment, demand, protest, notice of protest or other notice of default or dishonor of any kind, except as provided to the contrary elsewhere herein, all of which are hereby expressly waived by the Borrower. If, within thirty (30) days after acceleration of the maturity of the Obligations or termination of the obligations of the Banks and LC Issuer to make Credit Extensions hereunder as the result of any Event of Default (other than any Event of Default specified in subsections 7.01(f) or (g)) and before any judgement or decree for the payment of the Obligations due shall have been obtained or entered, the Required Banks (in their sole discretion) shall direct with respect to the Obligations relating to the Loans or the LC Issuer (in its sole discretion) shall direct with respect to Obligations relating to Facility LCs, the Administrative Agent shall, by notice to the Borrower, rescind and annul such acceleration and/or termination.
Rights Upon Default. Upon the occurrence and continuation of any Event of Default the Lessor may do any one or more of the following:
(a) Terminate the lease of the Facility or any or all Property or Equipment leased hereunder;
(b) Whether or not the lease of the Facility or any other Property or Equipment is terminated, take immediate possession of and remove any or all equipment or property of the Lessor in the possession of the Lessee, wherever situated, and for such purpose, enter upon any premises without liability to the Lessee for so doing;
(c) Whether or not any action has been taken under paragraph (a) or (b) above, sell the Facility or any other Property or Equipment (with or without the concurrence or request of the Lessee);
(d) Hold, use, occupy, operate, maintain, repair, remove, lease or keep idle the Facility or any or all other Property or Equipment as the Lessor in its sole discretion may determine, without any duty to account to the Lessee with respect to any such action or inaction or for any proceeds thereof or to mitigate damages; and
(e) Exercise any other right or remedy which may be available under applicable law and in general proceed by appropriate judicial proceedings, either at law or in equity, to enforce the terms hereof or to recover damages for the breach hereof. Suit or suits for the recovery of any default in the payment of any sum due hereunder or for damages may be brought by the Lessor from time to time at the Lessor's election, and nothing herein contained shall be deemed to require the Lessor to await the date whereon this Lease or the term hereof would have expired by limitation had there been no such default by the Lessee or no such termination or cancellation. The receipt of any payments under this Lease by the Lessor with knowledge of any breach of this Lease by the Lessee or of any default by the Lessee in the performance of any of the terms, covenants or conditions of this Lease, shall not be deemed to be a waiver of any provision of this Lease. No receipt of moneys by the Lessor from the Lessee after the termination or cancellation hereof in any lawful manner shall reinstate, continue or extend the Lease Term or any Renewal Term, or affect any notice theretofore given to the Lessee, or operate as a waiver of the right of the Lessor to enforce the payment of Basic Rent or Additional Rent or other charges payable hereunder, or operate as a waiver of the right of the Lessor to recover possession of the Facility or any other Unit of Eq...
Rights Upon Default. Upon and during the continuation of an Event of Default, the Non-Defaulting Party shall be entitled to elect or pursue one or more of the following remedies:
(i) pursue any and all available legal and equitable remedies;
(ii) designate a day, no earlier than the day notice of such designation is effective and no later than twenty (20) days after notice of such designation is effective, as a date for Early Termination (“Early Termination Date”) with respect to the obligations of the Defaulting Party without any liability or responsibility whatsoever except for obligations arising prior to the Early Termination Date and except for the determination and payment of the Termination Payment as provided in Section 5.4, by providing written notice to the Defaulting Party. Provided, however, that an Early Termination Date may be designated to occur concurrently with the Event of Default with respect to an Event of Default under subsections (i), (ii), (iii), (iv), (v), (vi), (vii), (viii) or (ix) of Section 5.1. In the event that a Non-Defaulting Party elects to designate an Early Termination Date with respect to the obligations of a Defaulting Party, the rights, liabilities, powers and obligations of any other Non-Defaulting Party shall survive such termination if the Early Termination is applicable to one or more but not all of the Companies;
(iii) receive Damages in accordance with Section 5.3;
(iv) accelerate all amounts owing between the Defaulting and Non-Defaulting Parties;
(v) liquidate and terminate the undertakings set forth in this Agreement;
(vi) withhold any payments due to the Defaulting Party under this Agreement; and
(vii) suspend performance under this Agreement.
