XXXX Event of Default Sample Clauses

XXXX Event of Default. If there shall occur a MAS Event of Default (as defined in the Purchase Agreement) pursuant to the Purchase Agreement, and Sandstorm Canada shall demand the MAS Default Fee (as defined in the Purchase Agreement), XXXX shall be deemed to be in default of the provisions of this Agreement (the “XXXX Event of Default”) and Sandstorm Barbados shall have the right to demand repayment of the Sandstorm Barbados Portion of the Quarterly Capital Expenditures advanced pursuant to Section 2.4 (ie. the Advanced Amount), which amount shall bear interest at an annual of interest equal to Default Interest, commencing as at and from the date of the said default (the “XXXX Default Fee”). Upon demand from Sandstorm Barbados, which demand shall include a calculation of the XXXX Default Fee, XXXX shall promptly pay the XXXX Default Fee in cash by wire transfer, in immediately available funds, to a bank account designated by Sandstorm Barbados. The Parties hereby acknowledge that: (i) Sandstorm Barbados will be damaged by a XXXX Event of Default; and (ii) any sums payable or retainable pursuant to this section are in the nature of liquidated damages, not a penalty and are fair and reasonable. Additionally, any security provided to and in favour of Sandstorm Barbados pursuant to the Purchase Agreement shall also secure the payment obligations of XXXX with respect to the XXXX Default Fee.
Sample 1
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XXXX Event of Default. 13.2.1The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting XXXX:
Sample 1
XXXX Event of Default. City’s failure to comply with any provision of this Agreement, if the failure is not cured within thirty (30) days after Developer’s notice to City, will constitute an event of default by City (“City Event of Default”); but if the City Event of Default cannot be cured within the 30-day cure period, City will not be in default of this Agreement if City commences to cure the City Event of Default within the 30-day cure period and diligently and in good faith prosecutes the cure of the City Event of Default to completion.
Sample 1

Related to XXXX Event of 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:

  • 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.

  • Authority Event of Default Any of the following events shall constitute an event of default by the Authority ("Authority Event of Default”), when not caused by a Developer Event of 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.

  • Rights Upon Event of Default (a) As long as an Event of Default under this Agreement remains unremedied, Holders of not less than 50% of the outstanding Class Principal Balance of the Original Notes (in each case the outstanding Class Principal Balance of the Original Notes will be determined without regard to any exchanges of Class M Notes for MAC Notes) to which such Event of Default relates may, by written notice to Freddie Mac, declare such Notes due and payable and accelerate the maturity of such Notes. In the event that Class M Notes have been exchanged for MAC Notes, Holders of such MAC Notes will be entitled to exercise all the voting or direction rights that are allocated to such exchanged Class M Notes as described herein. Upon such acceleration, the Class Principal Balance of such Notes and the interest accrued thereon shall be due and payable.

  • Termination due to Event of Default (a) Termination due to Parties Event of Default

  • Xxxxxx of Default Any one or more of the following shall constitute an “Event of Default” hereunder:

  • Effect of Event of Default If any Event of Default described in Section 13.1.4 shall occur in respect of the Company, the Commitments shall immediately terminate and the Loans and all other Obligations hereunder shall become immediately due and payable and the Company shall become immediately obligated to Cash Collateralize all Letters of Credit, all without presentment, demand, protest or notice of any kind; and, if any other Event of Default shall occur and be continuing, the Administrative Agent may (and, upon the written request of the Required Lenders shall) declare the Commitments to be terminated in whole or in part and/or declare all or any part of the Loans and all other Obligations hereunder to be due and payable and/or demand that the Company immediately Cash Collateralize all or any Letters of Credit, whereupon the Commitments shall immediately terminate (or be reduced, as applicable) and/or the Loans and other Obligations hereunder shall become immediately due and payable (in whole or in part, as applicable) and/or the Company shall immediately become obligated to Cash Collateralize the Letters of Credit (all or any, as applicable), all without presentment, demand, protest or notice of any kind. The Administrative Agent shall promptly advise the Company of any such declaration, but failure to do so shall not impair the effect of such declaration. Any cash collateral delivered hereunder shall be held by the Administrative Agent (without liability for interest thereon) and applied to the Obligations arising in connection with any drawing under a Letter of Credit. After the expiration or termination of all Letters of Credit, such cash collateral shall be applied by the Administrative Agent to any remaining Obligations hereunder and any excess shall be delivered to the Company or as a court of competent jurisdiction may elect.

  • EVENT OF DEFAULT/REMEDIES 8.1 Any one or more of the following acts or omissions of the Contractor shall constitute an event of default hereunder (“Event of Default”):

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