Termination for an Event of Default Sample Clauses

Termination for an Event of Default. If an Event of Default with respect to a Defaulting Party shall have occurred and be continuing, any other Party (the “Non- Defaulting Party”) shall have the right to: (i) designate a day, no earlier than the day such notice is effective and no later than 20 days after such notice is effective, as an early termination date (“Early Termination Date”) to accelerate all amounts owing between the Parties; (ii) withhold any payments due to the Defaulting Party under this Agreement; and (iii) suspend performance. The Non-Defaulting Party shall calculate, in a commercially reasonable manner and considering the full period of non-performance from the Early Termination Date through the date of the expiration of the Agreement’s Term, a Termination Payment amount as of the Early Termination Date. As soon as practicable after a termination, notice shall be given by the Non-Defaulting Party to the Defaulting Party of the amount of the Termination Payment and whether the Termination Payment is due to or due from the Non-Defaulting Party. The notice shall include a written statement explaining in reasonable detail the calculation of such amount. The Termination Payment shall be made by the Party that owes it within two (2) Business Days after such notice is effective. If the Defaulting Party disputes the owever, that if the Ter lting Party shall first of the Termination Payment, in whole or in pa two (2) Business Days of receipt of the Non- Termination Payment, provide to the Non- explanation of the basis for such dispute; provid Payment is due from the Defaulting Party, the to the Non-Defaulting Party an amount equal to the Termination Payment to be held in escrow pending the outcome of the dispute.
Sample 1Sample 2See All (12)
AutoNDA by SimpleDocs
Termination for an Event of Default. If an Event of Default with respect to a Defaulting Party has occurred and is continuing, then the non-Defaulting Party shall be entitled to terminate this Agreement by written notice to the Defaulting Party designating the date of termination (the “Early Termination Date”), provided that the termination notice required pursuant to this Section 9.2 may be provided in the notice of Event of Default pursuant to Section 9.1 (and does not have to be a separate notice), provided further that such notice of Event of Default complies with the requirements of this Section 9.2.
Sample 1Sample 2
Termination for an Event of Default. 4 If at any time during the Term an Event of Default occurs, and the Party in respect of which such Event of Default has occurred (the “Defaulting Party”) has been given written notice thereof by the other Party (the “Non-Defaulting Party”) specifying with particulars the Event of Default and, for other than an Event of Insolvency, affording the Party a reasonable opportunity (which shall be no more than 30 days from the date the notice was delivered) to cure such Event of Default if it is curable, then this Agreement may be terminated upon written notice by the Non-Defaulting Party to the Defaulting Party, and such termination shall be effective as of and from the date on which the notice of termination was delivered to the Defaulting Party. 3.2.2
Sample 1
Termination for an Event of Default. If an Event of Default has occurred and is not cured within the applicable cure period, if any, set forth in Section 6.1, the Non-Defaulting Party shall have the right, at any time when such Event of Default is continuing, and in addition to the remedies set forth in Section 6.2, to:
Sample 1
Termination for an Event of Default. If an Event of Default has occurred and is not cured within the applicable cure period, if any, set forth in Section 8.1 or Section 8.2, the Non-Defaulting Party will have the right, at any time when such Event of Default is continuing, and in addition to the remedies available to the Non-Defaulting Party under this Agreement or Applicable Law, to designate by notice to the Defaulting Party a day, effective immediately in the case of a Bankruptcy Event of Default and no earlier than 60 days after the day such notice becomes effective in the case of any other Event of Default, on which this Agreement will terminate.‌
Sample 1
Termination for an Event of Default. If an Event of Default has occurred and is not cured within the applicable cure period, if any, the Non-Defaulting Party shall have the right, at any time when such Event of Default is continuing, and in addition to the remedies set forth in Section 8.3(a) or (b), respectively, to (a) designate by notice to the Defaulting Party a Day, no earlier than the Day such notice becomes effective and no later than twenty (20) Days after the Day such notice becomes effective, on which this Agreement shall terminate (the "Early Termination Date"); (b) recover in connection with such termination a Termination Payment, and (c) subject to the express limitations set forth in Section 8.7 and Article IX, pursue any other right or remedy available under this Agreement or Applicable Law subject to the express limitations on remedies set forth in this Agreement. For the avoidance of doubt, the Non- Defaulting Party shall not receive Buyer's Cost to Cover or Seller's Cost to Cover, as the case may be, for any period covered by the Termination Payment.
Sample 1
Termination for an Event of Default. If an Event of Default has occurred and is then continuing, the Non-Defaulting Party will have the right, at any time when such Event of Default is continuing, and in addition to the remedies set forth in Section 12.2, to:‌
Sample 1
AutoNDA by SimpleDocs

Related to Termination for an Event of Default

  • Termination for Default 7.2.1 County may terminate the whole or any part of this Agreement for cause in the following circumstances:

  • Termination of Default An Event of Default shall be deemed to have been terminated upon the earliest to occur of:

  • 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:

  • SUSPENSION & TERMINATION FOR DEFAULT Enterprise Services may suspend Contractor’s operations under this Master Contract immediately by written cure notice of any default. Suspension shall continue until the default is remedied to Enterprise Services’ reasonable satisfaction; Provided, however, that, if after thirty (30) days from such a suspension notice, Contractor remains in default, Enterprise Services may terminate Contractor’s rights under this Master Contract. All of Contractor’s obligations to Enterprise Services and Purchasers survive termination of Contractor’s rights under this Master Contract, until such obligations have been fulfilled.

  • 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 any installment of principal and interest on any Equipment Note, the Mortgagee shall give prompt written notice thereof to each Note Holder. Subject to the terms of Sections 5.06, 6.02 and 6.03 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 6.03, 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 6.01, 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 Mortgagee shall not be deemed to have knowledge of a Default or an Event of Default (except, the failure of Owner to pay any installment of principal or interest within one Business Day after the same shall become due, which failure shall constitute knowledge of a Default) unless notified in writing by the Owner or one or more Note Holders.

  • Termination Events This Agreement may, by notice given prior to or at the Closing, be terminated:

  • Termination for Concessionaire Default 37.1.1 Save as otherwise provided in this Agreement, in the event that any of the defaults specified below shall have occurred, and the Concessionaire fails to cure the default within the Cure Period set forth below, or where no Cure Period is specified, then within a Cure Period of 60 (sixty) days, the Concessionaire shall be deemed to be in default of this Agreement (the “Concessionaire Default”), unless the default has occurred solely as a result of any breach of this Agreement by the Authority or due to Force Majeure. The defaults referred to herein shall include:

  • Default Termination a. In the event that the Property has been sold contrary to or any person bids in contravention of the provisions in Clause 4 above, then such sale shall be cancelled and become null and void and of no further effect wherein all monies paid by the Purchaser hitherto including the Deposit shall be forfeited absolutely and immediately.

  • Erroneous Termination for Default If, after notice of termination of Vendor’s right to proceed under the provisions of this clause, it is determined for any reason that the contract was not in default, or that the delay was excusable under the provisions of the prior paragraph (Excuse for Nonperformance or Delayed Performance), the rights and obligations of the parties shall be the same as if the notice of termination had been one of termination for convenience.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!