Action following Termination Event Clause Samples

Action following Termination Event. If at any time before the Secured Loan Obligations have been fully repaid and discharged, any party hereto becomes aware that a Termination Event has occurred and is continuing, such party shall as soon as practicable after becoming aware thereof give written notice to the Borrower, the Agent and the Security Trustee who shall thereupon give notice (a "NOTICE OF EVENT") of the same to the National Agents; (A) within a period of thirty (30) days following the giving of the Notice of Event by the Security Trustee or the expiry of any period specified in any Notice of Event issued by the Security Trustee or any period specified in any Notice of Reservation of Rights issued by the Security Trustee in accordance with Paragraph 10.5, the National Agents shall not have given either: (a) notice (a "NOTICE FOR INACTION") to the Agent requiring such action not to be taken; or (b) notice to the Agent and the Security Trustee requesting the issue of a Notice of Reservation of Rights, or a further Notice of Reservation of Rights, pursuant to Paragraph 10.5; or (B) any National Agent gives notice (a "NOTICE FOR ACTION") in writing to the Agent requiring such action to be taken, then, upon expiry of the relevant period referred to in Paragraph 10.4(A) or upon the giving of a Notice of Action by the Agent (or, if one or more Notices of Reservation of Rights have been delivered by the Security Trustee in accordance with Paragraph 10.5, upon the expiry of the period referred to in the last Notice of Reservation of Rights), to the extent permitted by the Transaction Documents and applicable law (and provided always that, at the relevant time, such Event of Default is continuing): (C) the Agent shall give an Acceleration Notice or, as directed a Loan Acceleration Notice declaring the Advance(s) immediately due and payable and such Advance(s) shall become due and payable pursuant to, and in accordance with, the terms of this Agreement; and (D) the Security Trustee shall ensure that such steps as may be available and as may be prudent are taken to enforce the security constituted by the relevant Aircraft Security Documents, PROVIDED ALWAYS that, for the avoidance of doubt, if any National Agent shall have given a Notice for Action pursuant to Paragraph 10.4(B) and any other National Agent shall have given or, as the case may be, shall give a Notice for Inaction pursuant to Paragraph 10.4(A) or a Notice of Reservation of Rights pursuant to Paragraph 10.5, the Agent shall disrega...
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Related to Action following Termination Event

  • Right to Terminate Following Termination Event Sections 6(b)(ii)-(iv) are deleted in their entirety and replaced by the following:

  • Following Termination 10.2.1 the Parties will agree the procedure for administering the Insurance Business current at the time of termination; 10.2.2 the Broker will make all reasonable efforts to provide the Underwriting Agent with contact details for any Insured or other party with whom the Underwriting Agent has contracted in the conduct of Insurance Business where:- 10.2.2.1 the Broker has acted as the agent of the Underwriting Agent; or 10.2.2.2 where such information is reasonably required in order for the Underwriting Agent to carry out its obligations in relation to Insurance Business concluded in accordance with this Agreement. 10.2.3 Where permissible the Parties will remain liable to perform their obligations in accordance with the terms of this Agreement in respect of all Insurance Business subject to this Agreement until all Insurance Business has expired or has otherwise been terminated.

  • Termination; Survival Following Termination (i) Either party may terminate this Agreement prior to the end of the Agency Period, by giving written notice as required by this Agreement, upon ten (10) Trading Days’ notice to the other party; provided that, (A) if the Company terminates this Agreement after the Agent confirms to the Company any sale of Shares, the Company shall remain obligated to comply with Section 3(b)(v) with respect to such Shares and (B) Section 2, Section 6, Section 7 and Section 8 shall survive termination of this Agreement. If termination shall occur prior to the Settlement Date for any sale of Shares, such sale shall nevertheless settle in accordance with the terms of this Agreement. (ii) In addition to the survival provision of Section 7(b)(i), the respective indemnities, agreements, representations, warranties and other statements of the Company, of its officers and of the Agent set forth in or made pursuant to this Agreement will remain in full force and effect, regardless of any investigation made by or on behalf of the Agent or the Company or any of its or their partners, officers or directors or any controlling person, as the case may be, and, anything herein to the contrary notwithstanding, will survive delivery of and payment for the Shares sold hereunder and any termination of this Agreement.

  • Obligations Following Termination If a Non-Defaulting Party terminates this Agreement pursuant to this Section 13(b), then following such termination, Seller shall, at the sole cost and expense of the Defaulting Party, remove the equipment (except for mounting pads and support structures) constituting the System. The Non-Defaulting Party shall take all commercially reasonable efforts to mitigate its damages as the result of a Default Event.

  • Compensation Following Termination In the event that Executive’s employment hereunder is terminated, Executive shall be entitled only to the following compensation and benefits upon such termination: