Event of Seller Default definition

Event of Seller Default has the meaning specified in Section 7.1.
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Event of Seller Default has the meaning specified in Section 10.1.
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Event of Seller Default any representation, warranty or statement made in writing by the Seller (or any of its officers, partners or members) in this Agreement or any certificate or document delivered under this Agreement shall have been incorrect or untrue in any respect when made or repeated; or
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Examples of Event of Seller Default in a sentence

  • If an Event of Seller Default or an Event of Servicer Default shall occur, Residential Funding may, at its option, exercise one or more of those remedies set forth in the Guides.

  • Upon any such declaration or automatic occurrence, the Purchaser and the Servicer shall have, in addition to all other rights and remedies under this Agreement, all other rights and remedies provided under the UCC and other applicable law, which rights shall be cumulative provided, that, if an event of the kind described in 8.1(c) occurs with regard to the Seller, an Event of Seller Default shall be deemed to have occurred automatically.

  • In the case of Event of Seller Default as set forth in Section 17.1(c), Purchaser shall be entitled to such Liquidated Damages plus other amounts as associated with the termination.

  • The provisions of Article XXVI hereof notwithstanding, and without limitation of Purchaser's rights under Article X for those Liquidated Damages paid or due prior to an Event of Seller Default, if an Event of Seller Default shall have occurred and be continuing, Purchaser or its assignee shall have the right to terminate this Agreement in whole or in part by delivery of a Notice of termination to Seller, in addition to any rights and remedies that may be available at law or in equity or as provided herein.

  • Unless the Agreement is sooner terminated as a result of an Event of Seller Default or by notice from Seller, as provided in the Agreement, the Termination Date of the Agreement is September 28th, 2002.

  • With the use of Randles circuit, the obtained impedances can be related to electrochemical processes in the cell, which is shown in figure 5.2b.

  • The Seller shall immediately notify SCTSC in writing of the occurrence of an Event of Seller Default and SCTSC shall have the right (in addition to any other right or remedy SCTSC may have at law, in equity or under this Agreement) to demand that the Seller deliver immediately at the request of SCTSC to it or to any third party nominated by SCTSC for collection by such party (which may be an affiliate of SCTSC) any Qualified Receivable(s) held by SCTSC under any transaction.

  • Except upon the occurrence of the Event of Seller Default, Buyer agrees that Buyer shall not (and hereby waives any right to) ever file or assert any lis pendens against the Premises nor commence or maintain any action against Seller for specific performance under this Agreement nor for a declaratory judgment as to Buyer's rights under this Agreement.

  • If an Event of Seller Default or an Event of Servicer Default shall occur, [_______________] may, at its option, exercise one or more of those remedies set forth in the Guides.

  • Such commitment fee is fully earned and non-refundable and shall be payable in two equal instalments of two percent (2.00%) of the Purchase Commitment (or the Equivalent Amount thereof), with the first instalment due on the Closing Date and the second instalment due on the first anniversary of the Closing Date, provided, however, the entire unpaid portion of such fee shall be immediately payable upon the occurrence of an Event of Seller Default.


More Definitions of Event of Seller Default

Event of Seller Default means the occurrence of the following on the Closing Date: Either (i) Seller shall have intentionally refused to complete closing in accordance with this Agreement when Buyer shall have given written notice to Seller on the Closing Date that Buyer is ready, willing and able to complete closing in accordance with this Agreement and to tender the Purchase Price or (ii) Seller is otherwise in default under this Agreement after Buyer has given written notice to Seller of such default and Seller has failed to cure such default within ten (10) business days of such default. Except upon the occurrence of the Event of Seller Default, Buyer agrees that Buyer shall not (and hereby waives any right to) ever file or assert any lis pendens against the Premises nor commence or maintain any action against Seller for specific performance under this Agreement nor for a declaratory judgment as to Buyer's rights under this Agreement. If an Event of Seller Default shall occur, Buyer may elect either to enforce this Agreement by an action for specific performance or to receive from Seller the amount of $100,000.00 as liquidated damages, as Buyer's sole and exclusive remedy. Seller and Buyer agree that the actual damages to Buyer in the event of such breach are impractical to ascertain as of the date of this Agreement and the amount of $100,000.00 is a reasonable estimate thereof.
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Related to Event of Seller Default

  • Seller Default has the meaning set forth in Section 12.1.

  • Buyer Default refers to nonpayment of the Xxxxxxx Money in accordance with the provisions of this Agreement (including nonpayment or dishonor of any check delivered for the Xxxxxxx Money) and/or the failure of this transaction to close due to nonperformance, breach and/or default with respect to the Buyer’s obligation(s) under this Agreement. In the event of a Buyer Default, the following provisions shall apply:

  • Purchaser Default has the meaning set forth in Section 11.2(a).

  • Servicer Event of Default One or more of the events described in Section 7.01.

  • Customer Default has the meaning set out in clause 8.3.

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • Servicer Default means an event specified in Section 8.01.

  • Owner Event of Default shall have the meaning set forth in Section 18.3.

  • Event of Servicer Termination With respect to the Servicing Agreement, a Servicing Default as defined in Section 6.01 of the Servicing Agreement.

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Master Servicer Event of Default One or more of the events described in Section 7.01.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

  • Event of Default has the meaning specified in Section 8.01.

  • Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Event of Servicing Termination means an event specified in Section 8.1 of the Sale and Servicing Agreement.

  • Unmatured Event of Default means any event which, with the giving of notice, the passage of time or both, would constitute an Event of Default.

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

  • Employer default means having an outstanding balance or liability to the old fund or to the uninsured employers' fund or being in policy default, as defined in W. Va. Code § 23-2c-2, failure to maintain mandatory workers' compensation coverage, or failure to fully meet its obligations as a workers' compensation self-insured employer. An employer is not in employer default if it has entered into a repayment agreement with the Insurance Commissioner and remains in compliance with the obligations under the repayment agreement.

  • Material Default means a material breach of this Framework Agreement and/or, breach by the Supplier of any of the following Clauses: Clause 8 (Warranties and Representations), Clause 9 (Prevention of Bribery and Corruption), Clause 13 (Statutory Requirements and Standards), Clause 14 (Non-Discrimination), Clause 15 (Provision of Management Information), Clause 16 (Management Charge), Clause 17 (Records and Audit Access), Clause 22 (Data Protection), Clause 23 (Freedom of Information) and Clause 31 (Transfer & Sub-contracting);

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p).

  • Issuer Event of Default means the occurrence of any of the following events:

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).