Default by the Issuer Sample Clauses

Default by the Issuer. If the Issuer shall fail at the Closing Time to sell and deliver the number of Securities that it is obligated to sell hereunder, then this Agreement shall terminate without any liability on the part of any non-defaulting party except that the provisions of Sections 1, 4, 6 and 7 hereof shall remain in full force and effect. No action taken pursuant to this Section 9 shall relieve the Issuer from liability, if any, in respect of such default.
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Default by the Issuer. 10.1. In the event of default by the issuer or by his Paying agent, i.e. in the occurrence of one of the events referred to in Article 10.2.2. of the Terms and Conditions governing the participation in the NBB-SSS, and in the case of a shortage of funds, any reimbursement on the due date or payment of interest due shall be automatically suspended without notice of default until the issuer or his Paying agent has executed valid payment of the total capital or the total interests. 10.2. If the issuer is represented by a Paying agent, the latter must notify the Bank of the issuer’s default or the shortage of funds as early as possible and always before 15:00 CET on the Business day preceding the Principal reimbursement date or the Interest payment date. After that deadline has elapsed, the Paying agent is deemed to have approved the execution of the repayments or the interest payments on the due date, and its account will therefore be debited. The notification to the NBB by the Paying agent must be effected by registered mail with a return receipt. In urgent cases the notification may also take place via SWIFT (message type MT599) or by secured e- mail, with confirmation within 24 hours by registered mail with a return receipt.
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Default by the Issuer. None of the Agents shall have any duty or responsibility in case of any default by the Issuer in the performance of its obligations under the Conditions of any Issue (including, without limiting the generality of the foregoing, any duty or responsibility to accelerate all or any of the Bonds of the Issue or to initiate or to attempt to initiate any proceedings at law or otherwise or to make any demand for the payment thereof upon the Issuer).
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Default by the Issuer. Except as set forth in this Agreement or the Indenture, the Paying Agent shall not have any duty or responsibility in case of any default by the Issuer in the performance of its obligations under the Indenture or under this Agreement (including, without limiting the generality of the foregoing, any duty or responsibility to prepay all or any of the Notes or to initiate or to attempt to initiate any proceedings at law or otherwise or to make any demand for the payment thereof upon the Issuer).
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Default by the Issuer. 10.1. In the event of default by the Issuer or by its Paying Agent, i.e. in the occurrence of one of the events referred to in Article 10.2.2. of the Terms and Conditions governing the participation in the NBB-SSS, and in the case of a shortage of funds, any reimbursement on the due date or payment of interest due shall be automatically suspended without notice of default until the Issuer or its Paying Agent has executed valid payment of the total capital or the total interests. The Paying Agent shall inform the NBB-SSS upon receipt of information regarding the opening of Insolvency proceedings against an Issuer. 10.2. If the Issuer is represented by a Paying Agent, the latter must notify the Bank of the Issuer’s default or the shortage of funds as early as possible and always before 15:00 CET on the Business day preceding the Principal reimbursement date or the Interest payment date. After that deadline has elapsed, the Paying Agent is deemed to have approved the execution of the repayments or the interest payments on the due date, and its account will therefore be debited. The notification to the NBB by the Paying Agent shall be done by e-signed e-mail or, alternatively, by SWIFT (message type MT599) with confirmation within 24 hours by registered mail with a return receipt.
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Default by the Issuer. The Issuer shall provide equal protection to all holders of Bonds issued hereunder. Accordingly, in defense of the interests of Bondholders, the Issuer expressly agrees that the Bondholders may, through the Representative under prior resolution of the Bondholders Meeting adopted by the quorum established in article 124 of the Securities Market Law, accelerate the unpaid balance and interest accrued on all of the Bonds in full in advance as if it were a due obligation should any one of the following events occur:
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Related to Default by the Issuer

  • Default by the Company If the Company shall fail at Closing Time or at the Date of Delivery to sell the number of Securities that it is obligated to sell hereunder, then this Agreement shall terminate without any liability on the part of any nondefaulting party; provided, however, that the provisions of Sections 1, 4, 6, 7 and 8 shall remain in full force and effect. No action taken pursuant to this Section shall relieve the Company from liability, if any, in respect of such default.

  • Default by Seller Except as specifically provided elsewhere in this Contract, in the event that Seller fails to consummate this Contract or if Seller fails to perform any of Seller's other material obligations hereunder either prior to or at the Closing and such failure or refusal results from any reason other than the termination of this Contract by Purchaser pursuant to a right to terminate expressly set forth in this Contract or Purchaser's failure to perform Purchaser's obligations under this Contract, Purchaser may as its only remedy either (i) terminate this Contract by giving written notice thereof to Seller prior to or at the Closing, in which event Purchaser will be entitled to a return of the Deposit Note, whereupon neither party hereto will have any further rights or obligations hereunder, except (a) that Seller will authorize the Title Company to deliver to Purchaser the Deposit Note and Title Company will deliver the Deposit Note to Purchaser free of any claims by Seller or any other person with respect thereto, (b) that Seller shall reimburse Purchaser for its out of pocket costs associated with the negotiation and preparation of this Agreement and its examination of the Property, including, the fees and disbursements of its counsel, advisers, and agents, and (c) for provisions which survive Closing by their terms or (ii) enforce specific performance of Seller's duties and obligations under this Contract, provided that the right to enforce specific performance shall not require Seller to remove any title encumbrances placed on the Property after the Effective Date or require Seller to perform any covenant beyond the then current ability of Seller. In the event Purchaser fails to file an action for specific performance of this Contract on or before ninety (90) days after the date of such non-performance, Purchaser shall be deemed to have elected to proceed under clause (i) above and shall be deemed to have waived its right to enforce specific performance of this Contract.

  • Default by Owner If one or more of the following Events of Default shall occur and be continuing, that is to say: (a) breach by Owner of the representations, warranties and covenants of the Owner as set forth in Section 6.02 above); then, and in each and every such case (except in instances where the Event of Default has been cured within thirty (30) days after the date on which written notice of such default, requiring the same to be remedied, shall have been given to the Owner by the Servicer), the Servicer, by notice in writing to the Owner, may immediately terminate all of its responsibilities, duties and obligations as servicer under this Agreement. On or after the receipt by the Owner of such written notice, all responsibilities, duties and obligations of the Servicer to service the Mortgage Loans under this Agreement shall on the date set forth in such notice pass to and be vested in the successor appointed pursuant to Section 10 herein.

  • Additional Remedies of Trustee Upon Event of Default During the continuance of any Event of Default, so long as such Event of Default shall not have been remedied, the Trustee, in addition to the rights specified in Section 6.14, shall have the right, in its own name and as trustee of the Trust Fund, to take all actions now or hereafter existing at law, in equity or by statute to enforce its rights and remedies and to protect the interests, and enforce the rights and remedies, of the Certificateholders (including the institution and prosecution of all judicial, administrative and other proceedings and the filings of proofs of claim and debt in connection therewith). Except as otherwise expressly provided in this Agreement, no remedy provided for by this Agreement shall be exclusive of any other remedy, and each and every remedy shall be cumulative and in addition to any other remedy, and no delay or omission to exercise any right or remedy shall impair any such right or remedy or shall be deemed to be a waiver of any Event of Default.

  • Remedies of the Trustee and Securityholders on Event of Default SECTION 5.1 Event of Default Defined; Acceleration of Maturity; Waiver of Default. "Event of Default" with respect to Securities of any series wherever used herein, means each one of the following events which shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law, pursuant to Article Thirteen or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body):