Default Action Sample Clauses

Default Action. If an Event of Default occurs in respect of the Client, the Broker Member may exercise its rights under Section 10.3, except that in the case of the occurrence of any Event of Default specified in Section 10.1(c) or 10.1(d), the provisions of Section 10.4 shall apply.
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Default Action. Customer absolutely and unconditionally agrees that, after the occurrence of any Event of Default, AM UK and its Affiliates shall have the right, in their respective sole discretion, but not the obligation, to take any one or more of the following actions, by themselves or through AM AS or another AM UK Affiliate, at any time, without prior notice or demand to Customer: (1) to terminate these Terms of Securities Trading , any or all of AM UK`s and/or AM AS`s obligations to Customer for future performance thereunder, and/or Customer`s use of the facilities and services provided by or through AM UK or any of its Affiliates; (2) to liquidate, sell, or close-out any or any part of Customer`s Transactions or open positions or the cash, security or other property in any of Customer`s accounts, whether carried individually or jointly with others, at any time, in any such manner (including by the entry of offsetting transactions), and in any market as AM UK or its Affiliates deem necessary; (3) to hedge and/or offset such Transactions, open positions, cash, securities and other property in the cash or other market, including a related but separate market; (4) to cancel any open orders for the purchase of any Transactions; or (5) to borrow and/or buy any property required to make delivery against any sales, including short sales, effected for Customer.
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Default Action. If the Landlord reasonably believes that the Tenant has breached an obligation under this Lease, the Landlord may, by written notice to the Tenant with immediate effect:
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Default Action. If any Member or its Affiliate commits any Default Action (as defined below), then in addition to any other legal or equitable remedy available to the other Member (or pursuant to the terms of this Agreement), such other Member shall be entitled to recover from the breaching Member its actual damages, including reasonable attorney’s fees (but specifically excluding special, consequential, punitive or exemplary damages) sustained by the non-breaching Member as a result of such Default Action, except to the extent of damages attributable to a coincident Default Action of such other Member and/or its Affiliate. The following actions are collectively referred to as “Default Actions”: (i) Bankruptcy of a Member; (ii) fraud, willful misconduct or gross negligence on the part of a Member in connection with the business or affairs of the Company; (iii) willful misappropriation of Company funds; (iv) the material breach or violation of this Agreement (but expressly excluding a Member’s failure to make an Additional Capital Contribution); (v) the transfer of a Membership Interest or a direct or indirect ownership interest in the Manager in violation of this Agreement or, in the case of the TCR Member, the occurrence of a TCR Change of Control in violation of this Agreement; (vi) any action or omission that, to the extent caused solely by a Member’s actions or omissions, results in Lender asserting liability under any non-recourse carveout guaranty for “bad boy” acts or omissions or Bankruptcy-related events (but expressly excluding therefrom, any liquidity based non-recourse carveout); (viii) withdrawal of a Member in violation of this Agreement; and (ix) the Bankruptcy of a Member or any Affiliate of a Member (including, in the case of the TCR Member, the General Contractor, the Developer or one or more TCR Guarantors) that causes an event of default under the Loan.
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Default Action. Customer absolutely and unconditionally agrees that, after the occurrence of any Event of Default, TFM LTD and its Affiliates shall have the right, in their respective sole discretion, but not the obligation, to take any one or more of the following actions, by themselves or through TFM AS or another TFM LTD Affiliate, at any time, without prior notice or demand to Customer: (1) to terminate these Terms of Securities Trading , any or all of TFM LTD s and/or TFM LTD obligations to Customer for future performance thereunder, and/or Customer`s use of the facilities and services provided by or through TFM LTD or any of its Affiliates; (2) to liquidate, sell, or close-out any or any part of Customer`s Transactions or open positions or the cash, security or other property in any of Customer`s accounts, whether carried individually or jointly with others, at any time, in any such manner (including by the entry of offsetting transactions), and in any market as TFM LTD or its Affiliates deem necessary; (3) to hedge and/or offset such Transactions, open positions, cash, securities and other property in the cash or other market, including a related but separate market; (4) to cancel any open orders for the purchase of any Transactions; or (5) to borrow and/or buy any property required to make delivery against any sales, including short sales, effected for Customer.
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Default Action. You agree that, after the occurrence of any Event of Default, IBUK, IBLLC and their Affiliates shall have the right, in their respective sole discretion, but not the obligation, to take any one or more of the following actions, by themselves or through IBLLC or another IBUK Affiliate, at any time, without prior notice or demand to you to:
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Default Action. If the Council’s Representative has:- 12.5.1 indicated in a Default Notice that the Provider intends to take Default Action; and 12.5.2 has either employed another contractor or the Council's own labour (both of whom are termed the “Default Provider”) to remedy the Default; 12.5.3 then the Council shall be entitled to charge the Provider the additional cost of so doing from the Provider which shall include:- 12.5.3.1 the procuring of the Default Provider; 12.6.3.2 the additional supervision and assistance needed by the Default Provider; and 12.5.3.3 the additional rates payable to the Default Provider above that tendered by the Provider.
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Default Action. 2.1 You agree that, after the occurrence of any Event of Default, IBUK and its Affiliates shall have the right, in their respective sole discretion, but not the obligation, to take any one or more of the following actions, by themselves or through an Affiliate, at any time, without prior notice or demand to you to: (i) terminate: (A) this Agreement; (B) any of IBUK's obligations to you; and/or (C) your use of the facilities and services provided by or through IBUK or any of its Affiliates; (ii) liquidate, sell, or close-out any or any part of your transactions or open positions or the cash, security or other property in any of your IBUK Accounts, whether carried individually or jointly with others, at any time, in any such manner (including by the entry of offsetting transactions), and in any market as IBUK or its Affiliates deem necessary; (iii) hedge and/or offset such transactions, open positions, cash, securities and other property in the cash or other market, including a related but separate market; (iv) cancel any open orders for the purchase of any transactions; (v) borrow and/or buy any property required to make delivery against any sales effected for you; or (vi) exercise any or all option contracts to which you are a party. In the event of a liquidation upon an Event of Default, Clause A14 of this Agreement will apply. 1.1 IBUK and its Affiliates shall be entitled, at any time, in their discretion, and without notice to you, to: (i) debit any sums due to IBUK or its Affiliates under this Agreement (including any sums due pursuant to any transaction) to any of your IBUK Accounts held on the books of IBUK or its Affiliates; (ii) convert any sums at such current rates as IBUK or its Affiliates consider appropriate into such currencies as IBUK or its Affiliates may consider appropriate; and (iii) merge, consolidate or combine all or any of your IBUK Account(s) and set off any amount (whether actual or contingent, present or future) at any time owing to IBUK or its Affiliates to you or standing to your credit on any IBUK Account against any amount (whether actual or contingent, present or future) owing by you to IBUK or its Affiliates. Any security given to IBUK or to any of its Affiliates by or with respect to you, for any purpose, shall extend to any amount owing from you to IBUK or its Affiliates, after such exercise of such right of set-off.
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Default Action. Notwithstanding Clause 23, and subject to Clause 6 (b), You acknowledge that, in the event of the Storage Fee, or any other moneys owing under this Agreement, not being paid in full within 35 calendar days of the due date, We may enter the Storage Area, by force or otherwise, retain the Deposit and/or sell or dispose of any of Your Goods in the Storage Area on such terms that We may determine (“Default Action”). For the purposes of the Personal Property Securities ▇▇▇ ▇▇▇▇, We are deemed to be in possession of Your Goods from the moment We access the Storage Area. You consent to and authorise the sale or disposal of any or all of Your Goods by whatever means are convenient to Us, regardless of their nature or value. We may also require payment of Default Action costs, including any costs associated with accessing Your Storage Area and disposal or sale of the Your Goods. Any excess funds will be returned to You within 6 months of the sale of Your Goods. In the event that You cannot be located, excess funds will be deposited with the Public Trustee or equivalent authority. In the event that You have more than one Storage Area with Us, default on any Storage Area authorises Us to take Default Action against all Storage Areas.
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Related to Default Action

  • DEFAULT AND ACCELERATION The Debt shall without notice become immediately due and payable at the option of Lender if any payment required in this Note is not paid on or prior to the date when due or if not paid on the Maturity Date or on the happening of any other Event of Default.

  • Default and Foreclosure 5 3.1 Remedies....................................................... 5 3.2

  • Default Notice As soon as possible and in any event within two days after the occurrence of each Default or any event, development or occurrence reasonably likely to have a Material Adverse Effect continuing on the date of such statement, a statement of the chief financial officer of the Borrower setting forth details of such Default and the action that the Borrower has taken and proposes to take with respect thereto.

  • Default and Consequences of Default 10.1 Interest on overdue invoices shall accrue daily from the date when payment becomes due, until the date of payment, at a rate of two and one half percent (2.5%) per calendar month and such interest shall compound monthly at such a rate after as well as before any judgment. 10.2 If the Customer defaults in payment of any invoice when due, the Customer shall indemnify the Creditor from and against all costs and disbursements incurred by the Creditor in pursuing the debt including legal costs on a solicitor and own client basis and the Creditor’s debt collection costs. 10.3 Without prejudice to any other remedies the Creditor may have, if at any time the Customer is in breach of any obligation (including those relating to payment), the Creditor may suspend or terminate the supply of Goods and/or Services to the Customer and any of its other obligations under the terms and conditions. The Customer acknowledges and agrees that the Creditor will not be liable to the Customer for any loss or damage the Customer suffers because the Creditor has exercised its rights under this clause. 10.4 If any account remains overdue after thirty (30) days then an amount of the greater of twenty dollars ($20.00) or ten percent (10.00%) of the amount overdue (up to a maximum of two hundred dollars ($200.00)) shall be levied for administration fees which sum shall become immediately due and payable. 10.5 Without prejudice to the Creditor’s other remedies at law the Creditor shall be entitled to cancel all or any part of any order of the Customer which remains unfulfilled and all amounts owing to the Creditor shall, whether or not due for payment, become immediately payable in the event that; (a) any money payable to the Creditor becomes overdue, or in the Creditor’s opinion the Customer will be unable to meet its payments as they fall due; or (b) the Customer becomes insolvent, convenes a meeting with its creditors or proposes or enters into an arrangement with creditors, or makes an assignment for the benefit of its creditors; or (c) a receiver, manager, liquidator (provisional or otherwise) or similar person is appointed in respect of the Customer or any asset of the Customer.

  • Events of Default; Acceleration If any of the following events (each an "EVENT OF DEFAULT") shall occur with respect to any Borrower: (a) Such Borrower (i) shall default in the payment of principal of any Loan, interest accrued thereon or fee due hereunder after the same becomes due and payable, whether at maturity or by acceleration or otherwise, or (ii) shall default in the payment of any other amount due hereunder after the same becomes due and payable; or (b) Such Borrower shall default in the performance of or compliance with any term contained in Sections 9.01(a) or 9.01(b) and such default shall have continued for more than three (3) Banking Days, or such Borrower shall default in the performance of or compliance with any term contained in Sections 8.02(d), 8.02(e), 8.02(g), 8.05, 9.02, 9.03 or 9.04; or (c) Such Borrower shall default in the performance of or compliance with any term contained herein other than those expressly referred to in this Section 10.01, and such default shall not have been remedied within five (5) Banking Days after written notice thereof shall have been given to such Borrower by the Operations Agent; or (d) Such Borrower shall default in the performance of, or compliance with, any material term contained in any other written agreement with the Operations Agent or any Bank pertaining to this Agreement or such Borrower's Loans, and such default shall continue for more than the period of grace, if any, specified therein and shall not have been waived pursuant thereto; or (e) Any representation, warranty certification or statement made or deemed made by such Borrower in this Agreement or in any certificate, financial statement or other document delivered pursuant hereto shall prove to have been false or incorrect in any material respect when made; or (f) Except as otherwise provided in this Section 10.01, such Borrower shall default in any payment due on Indebtedness for borrowed money or the deferred purchase price of property, the aggregate outstanding principal amount of which is in excess of five percent (5%) of such Borrower's Total Assets, and such default shall continue for more than the period of grace, if any, applicable thereto and shall not have been waived pursuant thereto and shall permit the holder of such Indebtedness to declare such Indebtedness due and payable before its stated maturity, or in the performance of or compliance with any term of any evidence of such Indebtedness or of any mortgage, indenture or other agreement relating thereto, and any such default shall continue for more than the period of grace, if any, specified therein and shall not have been waived pursuant thereto and shall permit the holder of such Indebtedness to declare such Indebtedness due and payable before its stated maturity, unless such Borrower shall be contesting such payment or obligation in good faith by appropriate proceedings promptly initiated and diligently conducted and such Borrower shall have set aside on its books such reserves, if any, with respect thereto as are required by GAAP and deemed appropriate by such Borrower and its independent public accountants, PROVIDED, that no Event of Default pursuant to paragraphs (b) or (i) of this Section 10.01 shall have occurred and be continuing as a result of such claim having been asserted in respect of such Indebtedness; or (g) Such Borrower shall discontinue its business (other than in connection with a permitted merger or consolidation of such Borrower) or shall make an assignment for the benefit of creditors, or shall fail generally to pay its debts as such debts become due, or shall apply for or consent to the appointment of or taking possession by a trustee, receiver or liquidator (or other similar official) of such Borrower or any substantial part of the property or assets of such Borrower or shall commence a case or have an order for relief entered against it under the federal bankruptcy laws, as now or hereafter constituted, or any other applicable federal or state bankruptcy, insolvency or other similar law, or if any action shall be taken to dissolve or liquidate such Borrower (other than in connection with a permitted merger or consolidation of such Borrower); or (h) If, within sixty (60) days after the commencement against such Borrower of a case under the federal bankruptcy laws, as now or hereafter constituted, or any other applicable federal or state bankruptcy, insolvency or other similar law, such case shall have been consented to or shall not have been dismissed or all orders or proceedings thereunder affecting the operations or the business of such Borrower stayed, or if the stay of any such order or proceeding shall thereafter be set aside, or if within sixty (60) days after the entry of a decree appointing a trustee, receiver or liquidator (or other similar official) of such Borrower or any substantial part of the property of such Borrower such appointment shall not have been vacated; or (i) A final judgment which, together with other outstanding final judgments against such Borrower, exceeds an amount in the aggregate equal to five percent (5%) of such Borrower's Total Assets (exclusive of amounts covered by available insurance) shall be rendered against such Borrower and if, within thirty (30) days after entry thereof, such judgment shall not have been discharged or execution thereof stayed pending appeal, or if, within thirty (30) days after the expiration of any such stay, such judgment shall not have been discharged; or (j) Such Borrower or any member of the Controlled Group shall fail to pay when due an amount or amounts aggregating in excess of $500,000 which it is obligated to pay to the PBGC or to a Plan under Title IV of ERISA; or a notice of intent to terminate a Plan or Plans having aggregate Unfunded Liabilities in excess of $500,000 shall be filed under Title IV of ERISA by such Borrower or any member of the Controlled Group, any plan administrator or any combination of the foregoing; or the PBGC shall institute proceedings under Title IV of ERISA to terminate or to cause a trustee to be appointed to administer any such Plan or Plans or a proceeding shall be instituted by a fiduciary of any such Plan or Plans against such Borrower or any member of the Controlled Group to enforce Sections 515 or 4219(c)(5) of ERISA; or a condition shall exist by reason of which the PBGC would be entitled to obtain a decree adjudicating that any such Plan or Plans must be terminated; or there shall occur a complete or partial withdrawal from, or a default, within the meaning of Section 4219(c)(5) of ERISA, with respect to, one or more Multiemployer Plans which could cause such Borrower or one or more members of the Controlled Group to incur a current payment obligation in excess of $500,000; or (k) Such Borrower shall cease to be an investment management company (or a Portfolio thereof) registered under the Investment Company Act, or such Borrower's registration under the Investment Company Act, or that of any Borrower Agent of such Borrower, shall lapse or be suspended; then, and in any such event, and at any time thereafter, if any Event of Default shall then be continuing with respect to such defaulting Borrower, (i) in the case of any Event of Default specified in paragraphs (g) and (h) above, the Commitments as to such defaulting Borrower shall thereupon automatically be terminated and the principal of and accrued interest on the Loans shall automatically become due and payable without presentment, demand, protest or other notice or formality of any kind, all of which are hereby expressly waived, and (ii) in the case of any other Event of Default specified above, either or both of the following actions may be taken: the Operations Agent may, and upon the written or telephonic (confirmed in writing) request of the Majority Banks shall, by written notice to such defaulting Borrower (A) declare the principal of and accrued interest in respect of such defaulting Borrower's Loans to be forthwith due and payable, whereupon the principal of and accrued interest in respect of such Loans shall become forthwith due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by such Borrower, and/or (B) terminate the Commitments as to such defaulting Borrower, whereupon the Commitments of the Banks to make Committed Credit Loans hereunder to such defaulting Borrower shall forthwith terminate without any other notice of any kind and the percentages of the Commitment Fee and other fees and expenses otherwise payable by such defaulting Borrower hereunder accruing from and after the date of termination shall be reallocated among the remaining Borrowers PRO RATA on the basis of the percentages set forth opposite such remaining Borrowers' names on SCHEDULE 1, as in effect at the time of such termination.