Section Remedies Clause Samples
The Remedies section defines the actions or relief available to a party if the other party breaches the agreement. This clause typically outlines the types of remedies, such as monetary damages, specific performance, or injunctive relief, that may be pursued in the event of a violation. By specifying available remedies, this section clarifies the consequences of non-compliance and helps ensure that parties understand their rights and obligations if a dispute arises, thereby reducing uncertainty and potential litigation.
Section Remedies. The Company will be entitled, if it elects, to enjoin any breach or threatened breach of, or enforce the specific performance of, the obligations of the Executive under Sections 3 or 6, without showing any actual damage or that monetary damages would be inadequate. Any such equitable remedy will not be the sole and exclusive remedy for any such breach, and the Company may pursue other remedies for such a breach. Any court proceeding to enforce this Agreement may be commenced in federal courts, or in the absence of federal jurisdiction the state courts, located in Omaha, Nebraska. The parties submit to the jurisdiction of such courts and waive any objection which they may have to pursuit of any such proceeding in any such court. Except to the extent that the Company elects to seek injunctive relief in accordance with subsection 9 (a), any controversy or claim arising out of or relating to this Agreement or the validity, interpretation, enforceability or breach of this Agreement will be submitted to arbitration in Omaha, Nebraska, in accordance with the then existing rules of the American Arbitration Association, and judgment upon the award rendered in any such arbitration may be entered in any court having jurisdiction.
Section Remedies. Upon the occurrence of any Event of Default and at any time thereafter so long as the same shall be continuing, the Lessor may, at its option, by notice to the Lessee, declare this Lease to be in default; provided, that upon the occurrence of an Event of Default described in Section 13.1(e) or (f), this Lease shall automatically be in default without notice thereof to the Lessee or the Guarantor, and at any time thereafter the Lessor may do one or more of the following with respect to each Item of Equipment as the Lessor in its sole discretion shall elect, to the full extent permitted by Applicable Law:
Section Remedies. If any Event of Default shall have occurred and be continuing:
(a) The Agent may exercise in respect of the Collateral, in addition to all other rights and remedies provided for herein or otherwise available to it under applicable law, all the rights and remedies of a secured party upon default under the Uniform Commercial Code in effect in the State of California at such time (the "Uniform Commercial Code") (whether or not the Uniform Commercial Code applies to the affected Collateral) and also may (i) require each Grantor to, and each Grantor hereby agrees that it shall at its expense and upon request of the Agent forthwith, assemble all or part of the Collateral as directed by the Agent and make it available to the Agent at a place to be designated by the Agent that is reasonably convenient to both parties (ii) require each Grantor to, and each Grantor hereby agrees that it shall upon request of the Agent forthwith, execute all such documents and do all such other things which may be reasonably necessary or desirable in order to enable the Agent or its nominee to be registered as the owner of the Intellectual Property with any competent registration authority, and (iii) without notice, except as specified herein, advertisement, hearing or process of law of any kind, sell the Collateral or any part thereof in one or more parcels free and clear of all rights and claims of the Grantors at public or private sale, at any of the Agent's offices or elsewhere, for cash, on credit or for future delivery, and upon such other terms as the Agent may deem commercially reasonable. Each Grantor agrees that, to the extent notice of sale shall be required by law, at least five days' notice to such Grantor of the time and place of any public sale or the time after which any private sale is to be made shall constitute reasonable notification. The Agent shall not be obligated to make any sale of Collateral regardless of notice of sale having been given. The Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. The Grantors further agree that the Secured Parties shall have the right to bid for and purchase any or all of the Collateral at any such public sale.
(b) All cash proceeds received by the Agent in respect of any sale of, collection from, or other realization upon all or any part of the Collateral may, i...
Section Remedies. If any Event of Default shall occur and be continuing, Agent may and, if directed by the Required Lenders, Agent shall do any one or more of the following:
Section Remedies. If any Event of Default specified in Section 10.1 hereof shall have occurred and be continuing, the Majority Lenders may declare all Notes to be forthwith due and payable, whereupon all such Notes shall become and be due and payable, without presentment, demand, protest or further notice of any kind, all of which are expressly waived by the Borrower; provided, however, that, upon the occurrence of an Event of Default specified in Section 10.1(f), (g) or (h) hereof, such Notes shall automatically become due and payable, without declaration, notice or demand by any Lender.
Section Remedies. If any Event of Default shall occur and be continuing, the Administrative Agent may or, upon request of the Required Lenders, shall by notice to the Borrower, do any or all of the following: (a) declare the Revolving Credit Commitments to be terminated, whereupon the same shall forthwith terminate; (b) declare the outstanding principal of the Notes, all interest thereon and all other amounts payable under this Agreement or the Notes to be forthwith due and payable, whereupon the Notes, all such interest and all such amounts shall become and be forthwith due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Borrower (provided that, in the case of an Event of Default referred to in Section 10.1(e) as to the Borrower, the Revolving Credit Commitments shall be immediately terminated, and the Notes, all interest thereon and all other amounts payable under this Agreement shall be immediately due and payable without any notice and without presentment, demand, protest or other formalities of any kind, all of which are hereby expressly waived by the Borrower); and
Section Remedies. Upon the occurrence and during the continuance of any Event of Default, Lessor may do one or more of the following as Lessor in its sole discretion shall determine, without limiting any other right or remedy Lessor may have on account of such Event of Default (including, without limitation, the obligation of Lessee to purchase the Leased Properties as set forth in Section 14.3): 1. Lessor may, by notice to Lessee, rescind or terminate this Lease as of the date specified in such notice; however, (A) no reletting, reentry or taking of possession of any Leased Property by Lessor will be construed as an election on Lessor's part to terminate this Lease unless a written notice of such intention is given to Lessee, (B) notwithstanding any reletting, reentry or taking of possession, Lessor may at any time thereafter elect to terminate this Lease for a continuing Event of Default, and (C) no act or thing done by Lessor or any of its agents, representatives or employees and no agreement accepting a surrender of any Leased Property shall be valid unless the same be made in writing and executed by Lessor;
Section Remedies. Upon the occurrence and during the continuation of an Amortization Event, Buyer may take any of the following actions: (i) declare the Amortization Date to have occurred, whereupon the Amortization Date shall forthwith occur, without demand, protest or further notice of any kind, all of which are hereby expressly waived by such Originator; provided, however, that upon the occurrence of Amortization Event described in Section 6.1(d), or of an actual or deemed entry of an order for relief with respect to such Originator under the Federal Bankruptcy Code, the Amortization Date shall automatically occur, without demand, protest or any notice of any kind, all of which are hereby expressly waived by such Originator and (ii) to the fullest extent permitted by applicable law, declare that the Default Fee shall accrue with respect to any amounts then due and owing by Buyer to such Originator. The aforementioned rights and remedies shall be in addition to all other rights and remedies of Buyer and its assigns available under this Agreement, by operation of law, at equity or otherwise, all of which are hereby expressly preserved, including, without limitation, all rights and remedies provided under the UCC, all of which rights shall be cumulative. c. 2. ARTICLE INDEMNIFICATION
Section Remedies. Upon the occurrence of any Event of Default set forth in subsections (a)-(k) of Section 12.1 and during the continuance thereof and in addition to any other rights under the Notes or the L/C Reimbursement Agreements, the waiver of existing defaults set forth in Section 4.1 hereof as to the Borrower only shall automatically terminate (all without action of any kind on the part of the Lead Bank or the Lenders), and the Lead Bank, upon the direction of the Lenders (which direction the Lenders may or may not give in each such instance and at such time(s) as they determine in their sole and absolute discretion), shall (i)
Section Remedies. 1. Upon the occurrence of a Loan Event of Default hereunder, (i) if such event is a Loan Event of Default specified in clause (e) of Section 5.1 with respect to the Lessor or the General Partner, automatically the Lenders' Commitments shall terminate and the outstanding principal of, and accrued interest on, the Loans shall be immediately due and payable, and (ii) if such event is any other Loan Event of Default, upon written request of the Required Lenders, the Agent shall, by notice of default to the Lessor, declare the Commitments of the Lenders to be terminated forthwith and the outstanding principal of, and accrued interest on, the Loans to be immediately due and payable, whereupon the Commitments of the Lenders shall immediately terminate and the outstanding principal of, and accrued interest on, the Loans shall become immediately due and payable.
2. When a Loan Event of Default exists, the Agent may, and upon the written instructions of the Required Funding Parties shall, exercise any or all of the rights and powers and pursue any and all of the remedies available to it hereunder, under the Notes, the Mortgages and the Assignments of Lease and Rents and shall have and may exercise any and all rights and remedies available under the Uniform Commercial Code or any provision of law. When a Loan Event of Default exists, the Agent may, and upon the written instructions of the Required Funding Parties shall, have the right to exercise all rights of the Lessor under the Lease pursuant to the terms and in the manner provided for in the Mortgages and the Assignments of Lease and Rents.