TERMINATION ON EVENT OF DEFAULT Sample Clauses

TERMINATION ON EVENT OF DEFAULT. Once an Event of Default pursuant to Clause 10 has occurred and is continuing The Company may give notice of termination to the User whereupon this Construction Agreement shall forthwith terminate and The Company shall disconnect all the User’s Equipment at the Connection Site and:
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TERMINATION ON EVENT OF DEFAULT. 11.1 Once an Event of Default pursuant to Clause 10 has occurred and is continuing NGC may give notice of termination to the User whereupon this Construction Agreement shall forthwith terminate and NGC shall disconnect all the User’s Equipment at the Connection Site and; (1) NGC and the User shall by arrangement between them remove any of the User’s Equipment and NGC Assets on, in relation to Connection Sites in [England and Wales], the other party’sNGC’s or, in relation to Connection Sites in [Scotland], Relevant Transmission Licensee's land within 6 months of the date of termination or such longer period as may be agreed between the partiesNGC or the Relevant Transmission Licensee (as appropriate) and the User. (2) in the case of Connection Sites in [England and Wales] NGC shall remove and in the case of Connection Sites in [Scotland] NGC shall procure that the Relevant Transmission Licensee removes any Transmission Connection Assets on the User’s land within 6 months of the date of termination or such longer period as may be agreed between NGC or the Relevant Transmission Licensee (as appropriate) and the User. 11.2 The User shall (notwithstanding any longer time for payment which but for such termination the User may have for payment pursuant to this Construction Agreement) within 14 days from the date of termination pay to NGC all amounts already due and owing on the date this Construction Agreement so terminates and if this Construction Agreement terminates prior to the Charging Date the User shall be liable forthwith on the date this Construction Agreement so terminates to pay to NGC:- (1) a sum equal to all liabilities arising under Clause 2.4 of this Construction Agreement which have not yet been invoiced by NGC to the User; and (2) a sum equal to NGC’s fair and reasonable estimate of Final Sums, such payments in each case to be made within 14 days of the date of NGC’s invoice(s) in respect thereof subject to adjustment in respect of NGC’s estimate of Final Sums in accordance with Clause 9A.3.3. or 9B.7.3.
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TERMINATION ON EVENT OF DEFAULT. 11.1 Once an Event of Default pursuant to Clause 10 has occurred and is continuing The Company may give notice of termination to the User whereupon this Construction Agreement shall forthwith terminate and the provisions of this Clause 11 shall apply. 11.2 On termination of this Construction Agreement The Company shall disconnect all the User’s Equipment at the Connection Site and: (a) the User shall remove any of the User’s Equipment on, in relation to Connection Sites in England and Wales, The Company’s or, in relation to Connection Sites in Scotland, Relevant Transmission Licensee's land within 6 months of the date of termination or such longer period as may be agreed between The Company or the Relevant Transmission Licensee (as appropriate) and the User; and (b) in the case of Connection Sites in England and Wales, The Company shall remove and, in the case of Connection Sites in Scotland, The Company shall procure that the Relevant Transmission Licensee removes, any Transmission Connection Assets on the User’s land within 6 months of the date of termination or such longer period as may be agreed between The Company or the Relevant Transmission Licensee (as appropriate) and the User.
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TERMINATION ON EVENT OF DEFAULT. 11.1 Once an Event of Default pursuant to Clause 10 has occurred and is continuing NGC may give notice of termination to the User whereupon this Construction Agreement shall forthwith terminate and NGC shall disconnect all the User’s Equipment at the Connection Site and: (a) NGC and the User shall by arrangement between them remove any of the User’s Equipment and NGC Assets on, in relation to Connection Sites in England and Wales, the other party’sNGC’s or, in relation to Connection Sites in Scotland, Relevant Transmission Licensee's land within 6 months of the date of termination or such longer period as may be agreed between the partiesNGC or the Relevant Transmission Licensee (as appropriate) and the User; and (b) in the case of Connection Sites in England and Wales, NGC shall remove and, in the case of Connection Sites in Scotland, NGC shall procure that the Relevant Transmission Licensee removes, any Transmission Connection Assets on the User’s land within 6 months of the date of termination or such longer period as may be agreed between NGC or the Relevant Transmission Licensee (as appropriate) and the User. 11.2 The User shall (notwithstanding any longer time for payment which but for such termination the User may have for payment pursuant to this Construction Agreement) within 14 days from the date of termination pay to NGC all amounts already due and owing on the date this Construction Agreement so terminates and if this Construction Agreement terminates prior to the Charging Date the User shall be liable forthwith on the date this Construction Agreement so terminates to pay to NGC:- (1) a sum equal to all liabilities arising under Clause 2.4 of this Construction Agreement which have not yet been invoiced by NGC to the User; and (2) a sum equal to NGC’s fair and reasonable estimate of Final Sums, such payments in each case to be made within 14 days of the date of NGC’s invoice(s) in respect thereof subject to adjustment in respect of NGC’s estimate of Final Sums in accordance with Clause 9A.3.3. or 9B.7.3.
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TERMINATION ON EVENT OF DEFAULT. Notwithstanding any other provision of this Agreement to the contrary, either Party may terminate this Agreement on the occurrence of an Event of Default attributable to the other Party.
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TERMINATION ON EVENT OF DEFAULT. 16.1 Subject to Clause 16.2, the Landlord shall be entitled by written notice to the Tenant to terminate this agreement with immediate effect if, at any time on or before the grant of the Leases, an Event of Default occurs. 16.2 In the case of an Event of Default which is capable of remediation by the Tenant, the Landlord shall not be entitled to terminate this agreement pursuant to Clause 16.1 if the Tenant has remediated the Event of Default to the satisfaction of the Landlord (acting reasonably) within ten (10) Business Days of the notice given by the Landlord pursuant to Clause 16.1.
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TERMINATION ON EVENT OF DEFAULT. On the occurrence of an Event of Default, the Non-Defaulting Party may, at any time thereafter while such Event of Default subsists and without prejudice to any of its other rights, terminate either the relevant Agreement or all Agreements by giving notice to the Defaulting Party terminating either the relevant Agreement or all Agreements immediately provided however that if such Event of Default is due to an administrative error then the Defaulting Party shall be granted a period of three (3) Business Days from the date of the Non-Defaulting Party’s notice in Section 10.4(b)(ii) to remedy such Event of Default. During such remedy period the Non-Defaulting Party’s rights under Section 10.4(b)(ii) shall remain unaffected.
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TERMINATION ON EVENT OF DEFAULT. Notwithstanding the foregoing, should an Event of Default occur and be continuing, Lender will have the right to terminate this Agreement at any time with notice and demand repayment of the Obligations in accordance with Section 8.1 below.
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TERMINATION ON EVENT OF DEFAULT. (a) If DRC commits a Level I Event of Default, then, on the expiry of the applicable remedy period (if any), ISIS, in addition to any other rights and remedies available hereunder, under applicable law or in equity, may elect to terminate this Agreement by written notice to DRC, whereupon this Agreement shall terminate and DRC shall re-convey to ISIS all right, title and interest in and to the Assigned Rights. If ISIS terminates this Agreement under this Subsection 5.3(a) before DRC pays any component of the Purchase Price (by way of Damages or otherwise), DRC shall repay to ISIS any Royalty Interest received by DRC under this Agreement, subject to DRC's right (notwithstanding any other provision hereof) to retain any or all of such amounts to off-set any Damages. (b) If ISIS commits a Level I Event of Default, then, on the expiry of the applicable remedy period (if any), DRC may, subject to Section 5.4, either (i) elect to terminate this Agreement by written notice to ISIS, whereupon this Agreement shall terminate and DRC shall re-convey to ISIS all right, title and interest in and to the Assigned Rights or (ii) pursue its other rights and remedies available hereunder, under applicable law or in equity, including enforcing its security interest in the Collateral to the extent of its Damages (under and as such terms are defined in the Security Agreement). (c) If ISIS commits a Level II Event of Default, DRC may, subject to Section 5.4, in addition to any other rights and remedies available hereunder, under applicable law or in equity, elect to terminate this Agreement by notice in writing given to ISIS (the "Termination Event"), whereupon this Agreement shall terminate; provided that Section 7.7 and any provision hereof required to give effect to Section 7.7 shall survive such termination. If DRC terminates this Agreement pursuant to this Subsection 5.3(c) then (i) DRC shall thereafter have no further obligation to pay any outstanding component of the Purchase Price; (ii) DRC may, subject to Section 5.4 and provided the trigger is not item C set forth in the definition of the Level II Events of Default, in addition to any other rights and remedies available hereunder, under applicable law or in equity, enforce its security interest in the Collateral (as such term is defined in the Security Agreement) to the extent of its Damages; and (iii) DRC shall re-convey to ISIS the Assigned Rights, except that DRC shall retain a portion of the Assigned Rights calcula...
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Related to TERMINATION ON EVENT OF DEFAULT

  • Actions following an Event of Default On, or at any time after, the occurrence and during the continuation of an Event of Default: (a) the Agent may, and if so instructed by the Majority Lenders, the Agent shall: (i) serve on the Borrowers a notice stating that all or part of the Commitments and of the other obligations of each Lender to the Borrowers under this Agreement are cancelled; and/or (ii) serve on the Borrowers a notice stating that all or part of the Loan together with accrued interest and all other amounts accrued or owing under this Agreement are immediately due and payable or are due and payable on demand; and/or (iii) take any other action which, as a result of the Event of Default or any notice served under paragraph (i) or (ii), the Agent and/or the Lenders are entitled to take under any Finance Document or any applicable law; and/or (b) the Security Trustee may, and if so instructed by the Agent, acting with the authorisation of the Majority Lenders, the Security Trustee shall take any action which, as a result of the Event of Default or any notice served under paragraph (a)(i) or (a)(ii), the Security Trustee, the Agent and/or the Lenders and/or the Swap Counterparties are entitled to take under any Finance Document or any applicable law.

  • Notification of Event of Default Borrower shall notify Agent immediately of the occurrence of any Event of Default.

  • 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.

  • 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."

  • Termination on Material Default 30.2.1 The Authority may terminate this Framework Agreement for material Default by issuing a Termination Notice to the Supplier where: (a) the Supplier fails to accept a Call Off Agreement pursuant to paragraph 6.2 of Framework Schedule 5 (Call Off Procedure); (b) a Contracting Body terminates a Call Off Agreement for the Supplier’s breach of that Call Off Agreement; (c) an Audit reveals that the Supplier has underpaid an amount equal to or greater than five per cent (5%) of the Management Charge due; (d) the Supplier refuses or fails to comply with its obligations as set out in Framework Schedule 12 (Continuous Improvement and Benchmarking); (e) in the event of two (2) or more failures by the Supplier to meet the specific KPI Targets at Framework Schedule 2 (except in relation to the “Spend under Management”, “On Time Delivery” and “On Quote Delivery” KPIs set out in Part B of Framework Schedule 2 (Goods and/or Services and Key Performance Indicators)), whether the failures relate to the same or different KPI targets, in any rolling period of three (3) Months; (f) the Authority expressly reserves the right to terminate this Framework Agreement for material Default including pursuant to: (i) Clause 16.1.4(c)(ii) (Variation Procedure); (ii) Clause 24.2.10 (Confidentiality); (iii) Clause 37.6.2 (Prevention of Fraud and Xxxxxxx); (iv) Clause 33.1.2 (Compliance) (v) Clause 38.3 (Conflicts of Interest); (vi) paragraph 6.2 of Framework Schedule 9 (Management Information); and/or (vii) anywhere that is stated in this Framework Agreement that the Supplier by its act or omission will have committed a material Default; (g) the Supplier commits a Default of any of the following Clauses or Framework Schedules: (i) Clause 6 (Representations and Warranties); (ii) Clause 9 (Framework Agreement Performance); (iii) Clause 15 (Records, Audit Access and Open Book Data); (iv) Clause 17 (Management Charge); (v) Clause 18 (Promoting Tax Compliance); (vi) Clause 22 (Supply Chain Rights and Protection); (vii) Clause 24.1 (Provision of Management Information); (viii) Clause 24.4 (Freedom of Information); (ix) Clause 24.5 (Protection of Personal Data); (x) paragraph 1.2 of Part B of Framework Schedule 2 (Goods and/or Services and Key Performance Indicators); and/or (xi) paragraph 2.3 of Part A of Framework Schedule 2 (Goods and/or Services and Key Performance Indicators); and/or (xii) paragraph 4 of Framework Schedule 16 (Financial Distress); and/or (h) the Supplier commits any material Default which is not, in the reasonable opinion of the Authority, capable of remedy; and/or (i) the Supplier commits a Default, including a material Default, which in the opinion of the Authority is remediable but has not remedied such Default to the satisfaction of the Authority within twenty (20) Working Days, or such other period as may be specified by the Authority, after issue of a written notice from the Authority to the Supplier specifying the remediable Default and requesting it to be remedied in accordance with any instructions of the Authority.

  • Rights Upon Event of Default If an Event of Default shall have occurred and be continuing, the Agent may, in its sole discretion, or shall at the direction of the Majority Lenders, direct the Collateral Agent to exercise any of the remedies specified herein in respect of the Collateral and the Collateral Agent shall promptly, solely at the written direction of the Agent or the Majority Lenders, also do one or more of the following (subject to Section 13.9): (a) institute proceedings in its own name and on behalf of the Secured Parties as Collateral Agent for the collection of all Obligations, whether by declaration or otherwise, enforce any judgment obtained, and collect from the Borrower and any other obligor with respect thereto moneys adjudged due, for the specific enforcement of any covenant or agreement in any Transaction Document or in the exercise of any power granted herein, or to enforce any other proper remedy or legal or equitable right vested in the Collateral Agent by Applicable Law or any Transaction Document; (b) exercise any remedies of a secured party under the UCC and take any other appropriate action to protect and enforce the right and remedies of the Collateral Agent and the Secured Parties which rights and remedies shall be cumulative; and (c) require the Borrower and the Collateral Manager, at the Collateral Manager’s expense, to (1) assemble all or any part of the Collateral as directed by the Collateral Agent (solely at the direction of the Agent) and make the same available to the Collateral Agent at a place to be designated by the Collateral Agent (solely at the direction of the Agent) that is reasonably convenient to such parties and (2) without notice except as specified below, sell the Collateral or any part thereof in one or more parcels at a public or private sale, at any of the Collateral Agent’s or the Agent’s offices or elsewhere in accordance with Applicable Law. The Borrower agrees that, to the extent notice of sale shall be required by law, at least ten days’ notice to the Borrower 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 Collateral Agent shall not be obligated to make any sale of Collateral regardless of notice of sale having been given. The Collateral Agent (solely at the direction of 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. All cash proceeds received by the Collateral Agent in respect of any sale of, collection from, or other realization upon, all or any part of the Collateral (after payment of any amounts incurred in connection with such sale) shall be deposited into the Collection Account and to be applied against all or any part of the outstanding Loans pursuant to Section 4.1 or otherwise in such order as the Collateral Agent shall be directed by the Agent (in its sole discretion). The Agent shall give the Collateral Manager notice of any sale of Collateral following an acceleration of the outstanding Loans. The Collateral Manager and any Affiliates shall be permitted to participate in any such sale. Notwithstanding anything herein to the contrary, at any time before the Collateral Agent has disposed of any of the Collateral or entered into a contract for its disposition under Section 9-610 of the UCC as in effect in New York, in each case as set forth in Section 9-623(c)(2) of the UCC as in effect in New York, the Borrower shall have the right to terminate this Agreement and obtain a release of all Collateral by delivering the full unpaid amount of all its Obligations to the Collateral Agent. Any such party may exercise such right by delivering written notice to the Agent (an “Exercise Notice”) which shall include a proposed purchase price, which Exercise Notice shall set forth evidence reasonably satisfactory to the Agent that the Equityholder has access to sufficient capital to consummate such purchase in accordance with this clause (c). Once an Exercise Notice is delivered to the Agent, the delivering party (or its designated Affiliate or managed fund) shall be obligated, irrevocably and unconditionally, to purchase the Collateral, at the price referenced above, for settlement within the normal settlement period for such Collateral; provided that the cash purchase price thereof must be received no later than ten (10) Business Days following delivery of the Exercise Notice. Neither the Collateral Agent, the Agent nor any Lender shall assert any right or remedy in respect of the Collateral, including any right described in Section 13.3(a) or Section 13.10, or cause the removal of the Collateral Manager pursuant to Section 7.02, or cause the liquidation or disposition of the Collateral Obligations to occur, in each case during the time that the Equityholder and its Affiliates are entitled to provide an Exercise Notice and purchase the Collateral pursuant to this Section 13.3(c).

  • Payments After Event of Default Except as otherwise provided in Section 3.04 hereof, all payments received and amounts held or realized by the Mortgagee (including any amounts realized by the Mortgagee from the exercise of any remedies pursuant to Section 15 of the Lease or Article IV hereof) after an Event of Default shall have occurred and be continuing and after the declaration specified in Section 4.04(b) hereof, as well as all payments or amounts then held by the Mortgagee as part of the Trust Indenture Estate, shall be promptly distributed by the Mortgagee in the following order of priority: First,so much of such payments or amounts as shall be required to (i) reimburse the Mortgagee or WTC for any tax (except to the extent resulting from a failure of the Mortgagee to withhold taxes pursuant to Section 2.04(b) hereof), expense or other loss (including, without limitation, all amounts to be expended at the expense of, or charged upon the rents, revenues, issues, products and profits of, the property included in the Trust Indenture Estate (all such property being herein called the “Mortgaged Property”) pursuant to Section 4.05(b) hereof) incurred by the Mortgagee or WTC (to the extent not previously reimbursed), the expenses of any sale, or other proceeding, reasonable attorneys’ fees and expenses, court costs, and any other expenditures incurred or expenditures or advances made by the Mortgagee, WTC or the Note Holders in the protection, exercise or enforcement of any right, power or remedy or any damages sustained by the Mortgagee, WTC or any Note Holder, liquidated or otherwise, upon such Event of Default shall be applied by the Mortgagee as between itself, WTC and the Note Holders in reimbursement of such expenses and any other expenses for which the Mortgagee, WTC or the Note Holders are entitled to reimbursement under any Operative Agreement and (ii) all amounts payable to the other Indenture Indemnitees hereunder and under the Participation Agreement and the Lease; and in the case the aggregate amount to be so distributed is insufficient to pay as aforesaid in clauses (i) and (ii), then ratably, without priority of one over the other, in proportion to the amounts owed each hereunder; Second,so much of such payments or amounts remaining as shall be required to reimburse the then existing or prior Note Holders for payments made pursuant to Section 5.03 hereof (to the extent not previously reimbursed) shall be distributed to such then existing or prior Note Holders ratably, without priority of one over the other, in accordance with the amount of the payment or payments made by each such then existing or prior Note Holder pursuant to said Section 5.03 hereof; Third,(i) so much of such payments or amounts remaining as shall be required to pay in full the aggregate unpaid Original Amount of all Series A Equipment Notes, and the accrued but unpaid interest and other amounts due thereon (other than Make-Whole Amount which shall not be due and payable) and all other Secured Obligations in respect of the Series A Equipment Notes (other than Make-Whole Amount) to the date of distribution, shall be distributed to the Note Holders of Series A, and in case the aggregate amount so to be distributed shall be insufficient to pay in full as aforesaid, then ratably, without priority of one over the other, in the proportion that the aggregate unpaid Original Amount of all Series A Equipment Notes held by each holder plus the accrued but unpaid interest and other amounts due hereunder or thereunder (other than Make-Whole Amount, if any) to the date of distribution, bears to the aggregate unpaid Original Amount of all Series A Equipment Notes held by all such holders plus the accrued but unpaid interest and other amounts due thereon (other than Make-Whole Amount) to the date of distribution;

  • Default or Event of Default No Default or Event of Default hereunder has occurred or is continuing or will occur as a result of the giving effect hereto.

  • Certain Events of Default The following Events of Default will apply to the parties as specified below, and the definition of “Event of Default” in Section 14 is deemed to be modified accordingly: Section 5(a) (i) (Failure to Pay or Deliver) will apply to Party A and Party B. Section 5(a)(ii) (Breach of Agreement) will not apply to Party A or Party B. Section 5(a)(iii) (Credit Support Default) will not apply to Party A or Party B. Section 5(a)(iv) (Misrepresentation) will not apply to Party A or Party B. Section 5(a)(v) (Default under Specified Transaction) will not apply to Party A or Party B. Section 5(a)(vi) (Cross Default) will not apply to Party A or Party B. Section 5(a)(vii) (Bankruptcy) will apply to Party A and Party B; provided that clause (2) thereof shall not apply to Party B. Section 5(a)(viii) (Merger without Assumption) will apply to Party A and Party B.

  • Action if Other Event of Default If any Event of Default (other than any Event of Default described in clauses (b) through (d) of Section 8.1.5 with respect to the Borrower) shall occur for any reason, whether voluntary or involuntary, and be continuing, the Facility Agent, upon the direction of the Required Lenders, shall by notice to the Borrower declare all of the outstanding principal amount of the Loan and other Obligations to be due and payable and/or the Commitments (if not theretofore terminated) to be terminated, whereupon the full unpaid amount of the Loan and other Obligations shall be and become immediately due and payable, without further notice, demand or presentment, and/or, as the case may be, the Commitments shall terminate.

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