Default Action definition
Default Action means (i) to terminate, liquidate and accelerate any and all Contracts, (ii) to exercise any right under any security relating to any Contract, (iii) to net or set off payments which may arise under any Contract or other agreement or under Applicable Law, (iv) to cancel any outstanding orders for the purchase or sale or borrowing or lending of any securities or other property, (v) to sell, apply or collect on any or all of the Collateral (either individually or jointly with others), (vi) to buy in any securities, commodities or other property of which any Account of Customer may be short, and (vii) to exercise any rights and remedies available to a secured creditor under any Applicable Law or under the NYUCC (whether or not the NYUCC is otherwise applicable in the relevant jurisdiction).
Default Action means any of the actions described in clauses 7(a)(i) to (ii).
Default Action means exercising any rights of set-off, liquidating positions or Contracts, terminating or accelerating any loan or Contract, canceling orders, closing out transactions, deducting charges from an account (other than normal charges for interest, clearing fees and ticket charges), selling any or all of the securities and commodities or other property that may be in possession or control of the BNPP Entities (either individually or jointly with others), buying-in any securities, commodities or other property that Customer's account or accounts may be short, or acting as attorney-in-fact with respect to Customer, any Customer account or any property in a Customer account.
Examples of Default Action in a sentence
In the event that the Xxxxxx has more than one Space with the FO, default on either Space authorises the FO to take Default Action against all Spaces.
The FO may also require payment of Default Action costs, including any costs associated with accessing the Xxxxxx’x Space and disposal or sale of the Xxxxxx’x Goods.
The Xxxxxx consents to any Default Action being taken under this clause 7(a), regardless of the nature or value of such goods.
Subject to the provisions of this Agreement, if the FO does not receive payment of any sum payable to it in accordance with the provisions of this Agreement, the Xxxxxx will be deemed to be in default of its obligations under this Agreement and FO may take such Default Action as it deems appropriate.
The FO will provide the Xxxxxx with reasonable time to rectify the Default before any Default Action is taken.
More Definitions of Default Action
Default Action means (i) to terminate, liquidate and accelerate any and all Contracts with any BNPP Entity, (ii) to exercise any right under any security relating to any Contract with any BNPP Entity, (iii) to net or set off payments which may arise under any Contract with any BNPP Entity or other agreement or under Applicable Law, (iv) to cancel any outstanding orders for the purchase or sale or borrowing or lending of any securities or other property, (v) to sell, apply or collect on any or all of the Collateral (either individually or jointly with others), (vi) to buy in any securities, commodities or other property of which any Account of Customer may be short, and (vii) to exercise any rights and remedies available to a secured creditor under any Applicable Law or under the NYUCC (whether or not the NYUCC is otherwise applicable in the relevant jurisdiction).
Default Action means a default action under the IATA Sales Agency Rules incorporated in the Agency's IATA Sales Agency Agreement or a contravention of the Travel Industry Act of Ontario or similar legislation in other provinces, including the terms of the registration of the Agency under such provincial legislation “IATA” means the International Air Transport Association;
Default Action is as defined in Section 6.06.
Default Action means (i) to terminate, liquidate and accelerate any and all Contracts with ICBCFS, (ii) to exercise any right under any security relating to any Contract with ICBCFS, (iii) to net or set off payments which may arise under any Contract with ICBCFS or other agreement or under Applicable Law, (iv) to cancel any outstanding orders for the purchase or sale or borrowing or lending of any securities or other property, (v) to sell, apply or collect on any or all of the Collateral (either individually or jointly with others), (vi) to buy in any securities, commodities or other property of which any Account of Customer may be short, and(vii) to exercise any rights and remedies available to a secured creditor under any Applicable Law or under the NYUCC (whether or not the NYUCC is otherwise applicable in the relevant jurisdiction).
Default Action has the meaning set forth in Section 6.6(a)
Default Action means any of the actions described in clauses 16(a)(iii) to (v).
Default Action means any of the actions described in clauses 7(a)(i) to (iii).