Remedies Upon Default definition

Remedies Upon Default. If an Event of Default shall occur, Bank shall have all rights, powers and remedies available under each of the loan documents as well as all rights and remedies available at law or in equity. Cure Period - Borrower will have ten calendar days to cure default under document repayment terms and thirty calendar days to cure covenant and condition defaults. Additional Items: Such other documents and agreements as the Bank or its counsel may reasonably request, including, but not limited to, an opinion of counsel to the Borrower and the Guarantor(s), (if any).
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Remedies Upon Default. Without limiting the Bank's right to demand repayment --------------------- of or to terminate the Credit Facilities described herein at any time, upon the occurrence of a default the Bank may, at its option, enforce all of its rights and remedies against the Borrower including, without limitation, enforcing some or all of the Security and immediately terminating the availability of any credit under the Credit Facilities made available to the Borrower pursuant to the terms hereof.
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Remedies Upon Default. Upon such default, at Lender's election, no additional advances shall be made by Lender and/or this Agreement may be terminated and/or all sums now or hereafter owed by Borrower to Lender may be declared to be immediately due and payable, and Lender may charge Borrower's DDA account for any or all sums due and owing to Lender. Lender shall have the rights and remedies of a secured party under the Uniform Commercial Code in addition to the rights and remedies provided herein or in any other instrument or paper executed by Borrower, including, at its option and in its sole discretion, until all sums now or hereafter owed to the Lender are paid in full, the right or rights to: 8.02.01 Communicate with and notify the obligors under any Consumer Loans of Borrower's assignments hereunder, and note any such assignment on Borrower's records; 8.02.02 Take over the exclusive right to collect the Collateral at the sole expense of the Borrower, without any obligation to preserve rights against third parties. For any acts done or not done incident to such collection or liquidation, Lender shall not be liable in any manner. Lender shall have the right to settle, compromise, or adjust Collateral and the claims or right of Borrower thereunder and accept return of the real estate or other Consumer Loan Collateral involved, and in turn sell and dispose of all said real estate without notice to or approval of Borrower, Lender may employ agents and attorneys to collect or liquidate any Collateral, and Lender shall not be liable for such Collateral or defaults of any such Lenders and attorneys; 8.02.03 To effect collection of any Consumer Loan, take possession of and open any mail addressed to Borrower whether on Borrower's premises or elsewhere and to remove, collect, and apply all payments therein contained and as attorney in fact for Borrower, sign the Borrower's name to any receipts, checks, notes, agreements, assignments or other instruments or letters, in order to collect, sell or liquidate the Collateral. This power shall be irrevocable; 8.02.04 Require Borrower to assemble all books and records of account relating to the Collateral and make them available to Lender at its office herein set forth or such other place as may be designated by Lender; 8.02.05 Enter the office of Borrower and take possession of any of the Collateral including any records that pertain to the Collateral; and 8.02.06 Undertake to service any Consumer Loans and upon the happening of such, Borrow...
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Examples of Remedies Upon Default in a sentence

  • Furthermore, to the extent that the Administrative Agent exercises remedies pursuant to this Agreement, any of the Administrative Agent and/or any Buyer will have the right to bid on and/or purchase any of the Repurchase Assets pursuant to Section 16 (Remedies Upon Default).

  • Furthermore, to the extent that the Administrative Agent exercises remedies pursuant to this Agreement, any of the Administrative Agent and/or any Buyer will have the right to bid on and/or purchase any of the Repurchase Assets pursuant to Section 16 above (Remedies Upon Default).

  • Furthermore, to the extent that the Administrative Agent exercises remedies pursuant to this Agreement, solely the Administrative Agent will have the right to bid on and/or purchase any of the Repurchase Assets pursuant to Section 16 (Remedies Upon Default).

  • Section 6.1 Events of Default 7 Section 6.2 Remedies Upon Default 9 Section 6.3 Forward Contract.

  • Remedies Upon Default................................................................

  • Remedies Upon Default...............................................

  • To the extent that the Administrative Agent exercises remedies pursuant to this Agreement, any of the Administrative Agent and/or any Buyer will have the right to bid on and/or purchase any of the Repurchase Assets pursuant to Section 16 (Remedies Upon Default).

  • Section 5.01 Remedies Upon Default 20 Section 5.02 Application of Proceeds 22 Section 5.03 Grant of License to Use Intellectual Property 22 Section 5.04 Securities Act, etc.

  • If DCAMM fails to cure the DCAMM Event of Default or commence good faith efforts to cure within thirty (30) days as provided herein, then CONTRACTOR shall issue a “Notice of Default” to DCAMM and CONTRACTOR may proceed in accordance with Section 50.4: Remedies Upon Default by DCAMM.

  • Remedies 25 Section 5.01 Remedies Upon Default 25 Section 5.02 Application of Proceeds 27 Article VI.