SRTA Default Sample Clauses

SRTA Default. Subject to SRTA’s exercise of its withholding rights and other remedies and rights under the Contract, if SRTA fails to pay TSI Contractor undisputed invoices when due under the Contract and fails to make such payments within ninety (90) Days of receipt of written notice from TSI Contractor of the failure to make such payments, TSI Contractor may, by giving written notice to SRTA, terminate this Contract as of a date specified in the notice of termination. TSI Contractor shall not have the right to terminate the Contract for SRTA’s breach of the Contract except as specifically provided in this Section 32.4. In the event of termination of this Contract by TSI Contractor for a SRTA default as provided in this Section 32.4, SRTA shall be liable only for payments required by the terms of this Contract for Work which has been performed satisfactorily according to the Contract Documents, any restocking fees actually and reasonably incurred by TSI Contractor for any Work ordered but not used on the Project, and reasonable and actual wind down costs. SRTA prior to the effective date of termination, subject to SRTA’s exercise of its rights and remedies under the Contract.
Sample 1
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Related to SRTA Default

  • Monetary Default If a Monetary Default occurs and continues for 10 Business Days after Notice from Landlord, specifying in reasonable detail the amount of money not paid and the nature and calculation of each such payment.

  • Developer Default Each of the following shall be an Event of Default by Developer:

  • Default H-GAC may, by written notice of default to the Contractor, terminate the whole or any part of the Agreement, in any one of the following circumstances:

  • City Default The occurrence of the following shall be an “Event of Default” by City or a “City Default”:

  • Developer Event of Default Any of the following events shall constitute an event of default by the Developer ("Developer Event of Default") unless such event has occurred as a result of a Force Majeure Event or the Authority Event of Default or any governmental action for reasons other than any breach, default or lapse on the part of the Developer:

  • Payment Default Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day grace period shall not apply to payments due on the Maturity Date or the date of acceleration pursuant to Section 9.1 (a) hereof). During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);

  • Event of Default Any of the following shall constitute an “Event of Default”:

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

  • Customer Default The occurrence at any time of any of the following events shall constitute a “Customer 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.

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