TERMINATION UPON DEFAULT, ETC Sample Clauses

TERMINATION UPON DEFAULT, ETC. ⮚ In addition to other termination provisions contained in this Agreement, UNDERWRITER may, at any time, immediately terminate this Agreement by written notice to COMPANY upon the happening of any of the following:
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TERMINATION UPON DEFAULT, ETC. In the case of a Termination Condition under Section 15.2(a), (b) or (c), the non-defaulting Venturer delivering the Termination Notice shall have the right to exercise its option to purchase all but not less than all, of the Venture Interest of the defaulting Venturer at eighty percent (80%) of the defaulting Venturer's investment to date plus interest on amounts invested from time to time at the Applicable Rate (the "Default Termination Value") by delivering a written notice of exercise within sixty (60) days following the occurrence of any such Termination Condition. This reduction to eighty percent (80%) of the investment to date plus interest on amounts invested from time to time at the Applicable Rate is agreed by both parties as a reasonable pre-estimate by way of liquidated damages of the likely loss, direct and indirect, which would be incurred by the non-defaulting Venturer in consequence of a Termination Condition arising under Section 15.2 (a) (b) or (c) hereof in relation to the defaulting Venturer, this assessment taking into account the financial and other commitments made by both Venturers under this Agreement in relation to the establishment and proposed long term operation of the Joint Venture. Such written notice shall constitute an offer by the non-defaulting Venturer to purchase the Venture Interests of the defaulting Venturer at a price equal to the Default Termination Value, and the defaulting Venturer hereby accepts any such offer by the non-defaulting Venturer. If the non-defaulting Venturer fails to deliver such written notice of such exercise within said 60-day period, it will be deemed to have elected not to purchase the Venture Interest of the defaulting Venturer. In the event that non-defaulting Venturers purchases the Venture Interest of the defaulting Venturers pursuant to this Section 15.4, the purchase price for the Venture Interest shall be an amount payable in cash in GB Pounds Sterling.
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TERMINATION UPON DEFAULT, ETC. B. Any judicial or administrative proceeding or decision against COMPANY for the violation of any federal or state law or the breach of any rule or regulation of the Texas Department of Insurance, or other regulatory agency;
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TERMINATION UPON DEFAULT, ETC. E. Any failure of COMPANY to keep proper accounting records of its escrow accounts or any failure to reconcile the same within thirty (30) days following the date of the most recent summary or statement of account-activity received from depositories;
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TERMINATION UPON DEFAULT, ETC. C. COMPANY shall return to UNDERWRITER all materials, forms, manuals, and supplies furnished to COMPANY by UNDERWRITER;
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TERMINATION UPON DEFAULT, ETC. 49 15.5 Closing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49 15.6
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Related to TERMINATION UPON DEFAULT, ETC

  • Termination Upon Default Either Party may terminate this Agreement in whole or in part in the event of a default by the other Party; provided however, that the non-defaulting Party notifies the defaulting party in writing of the alleged default and that the defaulting Party does not cure the alleged default within sixty (60) calendar days of receipt of written notice thereof. Default is defined to include:

  • Action Upon Default Agent shall not be deemed to have knowledge of any Default or Event of Default, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from a Borrower or Required Lenders specifying the occurrence and nature thereof. If a Lender acquires knowledge of a Default, Event of Default or failure of such conditions, it shall promptly notify Agent and the other Lenders thereof in writing. Each Secured Party agrees that, except as otherwise provided in any Loan Documents or with the written consent of Agent and Required Lenders, it will not take any Enforcement Action, accelerate Obligations (other than Secured Bank Product Obligations) or assert any rights relating to any Collateral.

  • Upon Default Landlord shall have the right to pursue any one or more of the following remedies:

  • Rights Upon Default In the event of the nonpayment of said rent, or any installment thereof, at the time in the manner above provided, or if the TENANT shall be dispossessed for nonpayment of rent, or if the leased premises shall be deserted, or vacated, the LANDLORD or its agents shall have the right to enter the said premises as the agent of the TENANT either by force or otherwise and may relet the premises as the agent of the TENANT, and receive the rent thereof, upon terms that may be reasonable and satisfactory to the LANDLORD, and all rights of the TENANT to repossess the premises under this lease shall be forfeited. Such re-entry by the LANDLORD shall not operate to release the TENANT from any rent to be paid or covenants to be performed hereunder during the full term of this lease. For the purpose of re-letting the LANDLORD shall be authorized to make such reasonable repairs or alterations in or to the leased premises as may be necessary to restore the premises to rentable condition. The TENANT shall be liable to the LANDLORD for the cost of such repairs or alterations, and all reasonable expenses of such re-letting. If the sum realized or to be realized from this letting is insufficient to satisfy the monthly or term rent provided in this lease, the LANDLORD, at his option may require the TENANT to pay such deficiency month by month, or may hold the TENANT in advance for the entire deficiency to be realized during the term of re-letting. The TENANT shall not be entitled to any surplus funds accruing as a result of the re-letting. The TENANT agrees to pay, as additional rent, all reasonable Attorneys’ fees and other expenses incurred by the LANDLORD in enforcing any obligations under this lease.

  • Termination on Default The Authority may terminate this Framework Agreement by serving written notice on the Supplier with effect from the date specified in such notice where the Supplier commits a Material Default and if:

  • Termination Upon Event of Default If Foothill terminates this Agreement upon the occurrence of an Event of Default, in view of the impracticability and extreme difficulty of ascertaining actual damages and by mutual agreement of the parties as to a reasonable calculation of Foothill's lost profits as a result thereof, Borrower shall pay to Foothill upon the effective date of such termination, a premium in an amount equal to the Early Termination Premium. The Early Termination Premium shall be presumed to be the amount of damages sustained by Foothill as the result of the early termination and Borrower agrees that it is reasonable under the circumstances currently existing. The Early Termination Premium provided for in this Section 3.7 shall be deemed included in the Obligations.

  • Realization Upon Defaulted Loans The Master Servicer shall cause each Servicer (to the extent required under the related Servicing Agreement) to foreclose upon, repossess or otherwise comparably convert the ownership of Mortgaged Properties securing such of the Loans as come into and continue in default and as to which no satisfactory arrangements can be made for collection of delinquent payments, all in accordance with the applicable Servicing Agreement.

  • Rights of Holder upon Default Subject to the provisions set forth in Sections 5 and 6 of the Purchase Agreement, upon the occurrence or existence of any Event of Default (other than an Event of Default referred to in Paragraphs 4(c) and 4(d)) and at any time thereafter during the continuance of such Event of Default, Holder may declare all outstanding Obligations payable by Company hereunder to be immediately due and payable without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived, anything contained herein or in the Purchase Agreement to the contrary notwithstanding. Upon the occurrence or existence of any Event of Default described in Paragraphs 4(c) and 4(d), immediately and without notice, all outstanding Obligations payable by Company hereunder shall automatically become immediately due and payable, without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived, anything contained herein or in the Purchase Agreement to the contrary notwithstanding. In addition to the foregoing remedies, upon the occurrence or existence of any Event of Default and subject to the provisions of Sections 5 and 6 of the Purchase Agreement, Holder may exercise any other right, power or remedy granted to it by the Purchase Agreement or otherwise permitted to it by law, either by suit in equity or by action at law, or both.

  • Termination Upon Breach Either the Corporation or the Consultant may terminate this Agreement in the event of the breach of any of the material terms or provisions of this Agreement by the other party, which breach is not cured within 10 business days after notice of the same is given to the party alleged to be in breach by the other party.

  • Termination by Default If the Bank is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Act (12 U.S.C. Section 1813(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but any vested rights of the Executive shall not be affected.

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