Examples of Non-Defaulting Party in a sentence

Upon the occurrence of an Event of Default, the Non-Defaulting Party shall have the following rights: (a) to terminate this Agreement by written notice to the Defaulting Party; (b) to suspend performance of its obligations and duties hereunder upon written notice to the Defaulting Party; and (c) to pursue any other remedy given under this Agreement or now or hereafter existing at Law or in equity or otherwise.
Alternatively, the Non-Defaulting Party may also choose to cause the Company to buy-back the Securities held by the Non-Defaulting Party in accordance with the Act and other applicable Law, instead of giving effect to the Put Option.
Notwithstanding anything contained anywhere in this Agreement, the right of the Defaulting Party to nominate Directors in accordance with provisions of Clause 10.3 (Board of Directors) read with Clause 7.2.1(b) (Consequences of Exit Default) shall fall away and the Non-Defaulting Party may appoint such number of Directors on the Board as it deems fit.
The issuance of the Put Notice by the Non-Defaulting Party (read along with the provisions hereunder) shall constitute a valid and binding agreement between the Non-Defaulting Party and the Defaulting Party for purchase by the Defaulting Party of Securities of the Non-Defaulting Party.

More Definitions of Non-Defaulting Party

Non-Defaulting Party means the Party with respect to which a Default or Event of Default has not occurred.

Non-Defaulting Party is defined in Section 5.2.

Non-Defaulting Party means the Party other than the Defaulting Party.

Non-Defaulting Party has the meaning given to it in the definition of Event of Default.

Non-Defaulting Party has the meaning specified in Section 15.1(a).

Non-Defaulting Party shall have the meaning as given in Section 7.2.

Non-Defaulting Party is defined in Section 9.3.