Default by the Lender Clause Samples

Default by the Lender. The occurrence of any one or more of the following events or conditions shall constitute an Event(s) of Default by the Lender under this Deposit Agreement, unless a written waiver of the default is signed by the Chairperson of the MSF Board or MSF Fund Manager: (a) any representation or warranty made by the Lender under this Deposit Agreement or any of the Loan Documents is incorrect in any material respect; (b) any material breach by the Lender of any duty or obligation of the Lender under this Deposit Agreement which is not cured by the Lender to the satisfaction of the MSF within forty-five (45) calendar days after written notice thereof by the MSF to the Lender; (c) the appointment of a receiver or custodian over a material portion of the Lender’s assets, which receiver or custodian is not discharged within sixty (60) calendar days of such appointment; or (d) any voluntary bankruptcy or insolvency proceedings are commenced by the Lender; or any involuntary bankruptcy or insolvency proceedings are commenced against the Lender, which proceedings are not set aside within sixty (60) calendar days from the date of institution thereof. Upon the occurrence of any one or more of an Event(s) of Default by the Lender under this Deposit Agreement, in addition to all rights and remedies created by this Deposit Agreement, the MSF shall be entitled to pursue and enforce all rights and remedies available to the MSF, legal and equitable, including without limitation, the right of recoupment, and the right to require the Lender’s books and records related to the Loan, Loan Documents and this Deposit Agreement to be separately audited by an independent certified public accountant selected by the MSF, at the MSF’s sole cost and expense. Provided however, in the event the audit reveals a breach of this Deposit Agreement or the Loan Documents has occurred, the Lender shall reimburse the MSF for the fees and expenses incurred to perform the audit. No remedy is intended to be the sole and exclusive remedy in case any Event(s) of Default by the Lender under this Deposit Agreement shall occur and each remedy shall be cumulative and in addition to every other provision or remedy now or later existing at law, in equity, by statute or otherwise. All remedies shall be cumulative. The Lender shall pay all costs and expenses, including, without limitation, reasonable attorneys fees and expenses incurred by the MSF in enforcing any obligation of the Lender arising from or under the L...
View SourceView Similar (14)
Default by the Lender. The occurrence of any one or more of the following events or conditions shall constitute an Event of Default by the Lender under this Enhancement Agreement, unless a written waiver of the default is signed by Development: (a) Any representation or warranty made by the Lender under this Enhancement Agreement or any of the Loan Documents is incorrect in any material respect; (b) Any material breach by the Lender of any duty or obligation of the Lender, including but not limited to the failure to file required reports, under this Enhancement Agreement which is not cured by the Lender to the satisfaction of Development within thirty(30) calendar days after written notice thereof by Development to the Lender; (c) The appointment of a receiver or custodian over a material portion of the Lender’s assets, which receiver or custodian is not discharged within sixty (60) calendar days of such appointment; or (d) Any voluntary bankruptcy or insolvency proceedings are commenced by the Lender; or any involuntary bankruptcy or insolvency proceedings are commenced against the Lender, which proceedings are not set aside within sixty (60) calendar days from the date of institution thereof.
View SourceView Similar (3)
Default by the Lender. Where the Lender fails to return the collaterals by the due date according to the agreement, or is in violation of the representations or warranties, it shall be deemed to be in default. In the event of default by the Lender, the related securities lending and borrowing shall be deemed to be due, and the Borrower may complete the negotiated borrowing transaction by ______________ (the agreed manner), recover the deficiency in payment from the Lender, collect a default penalty equivalent to _______, and at the same time claim for damages.
View SourceView Similar (2)
Default by the Lender. The occurrence of any one or more of the following events or conditions shall constitute an Event of Default by the Lender under this Deposit Agreement, unless a written waiver of the default is signed by Development: Any representation or warranty made by the Lender under this Deposit Agreement or any of the Loan Documents is incorrect in any material respect; Any material breach by the Lender of any duty or obligation of the Lender under this Deposit Agreement which is not cured by the Lender to the satisfaction of Development within thirty (30) calendar days after written notice thereof by Development to the Lender; The appointment of a receiver or custodian over a material portion of the Lender’s assets, which receiver or custodian is not discharged within sixty (60) calendar days of such appointment; or Any voluntary bankruptcy or insolvency proceedings are commenced by the Lender; or any involuntary bankruptcy or insolvency proceedings are commenced against the Lender, which proceedings are not set aside within sixty (60) calendar days from the date of institution thereof.
View SourceView Similar (2)
Default by the Lender. The occurrence of any one or more of the following events or conditions shall constitute an Event(s) of Default by the Lender under this Agreement, unless a written waiver, or similar action is signed the MSF Fund Manager, and then only to the extent, and for the time period specifically stated, in such written waiver, or similar action: (a) any representation or warranty made by the Lender to the MSF or the MEDC in this Agreement is incorrect in any material respect; (b) any information submitted at any time to the Project Manager, the MEDC, or the MSF under this Agreement in support of any Enrolled Loan, Authorized Claim, within any Loan Enrollment Form, or Authorized Claim Form, or for any other purpose under this Agreement, is incorrect in any material respect; (c) any material breach by the Lender of any obligation of the Lender under this Agreement, which breach, if deemed curable in the discretion of the MSF Fund Manager, is not cured to the satisfaction of the MSF Fund Manager, within twenty-five (25) business days after written notice thereof by the MSF Fund Manager, or within such longer period of time as determined in writing by the MSF Fund Manager; (d) the Lender is in default, violation, breach, or non-compliance under any Credit Facility Documents or any End Loan Documents, and Lender remains in default thereunder after the expiration of any applicable cure period; (e) the Lender is in default, violation, breach, or non-compliance, of any kind or nature under any agreement or requirement, including submission of reports, with the MEDC, or any department or agency with the State, which is not cured to the satisfaction of the MSF Fund Manager, within twenty-five (25) business days after written notice thereof by the MSF Fund Manager, or within such longer period of time as determined in writing by the MSF Fund Manager; (f) the appointment of a receiver or custodian over a material portion of the Lender’s assets, which receiver or custodian is not discharged within sixty (60) calendar days of such appointment; or (g) any voluntary bankruptcy or insolvency proceedings are commenced by the Lender; or any involuntary bankruptcy or insolvency proceedings are commenced against the Lender, which proceedings are not set aside within sixty (60) calendar days from the date of institution thereof.
View SourceView Similar (2)
Default by the Lender. The occurrence of any one or more of the following events or conditions shall constitute an event of default by the Lender under this Agreement (which defaults may be determined by GHFA EDFI or the State, acting in their sole discretion): (a) any representation, warranty, certification, assurance or any other statement of fact contained in this Agreement, or any representation or warranty set forth in any document, report, certificate, financial statement or instrument now or hereafter delivered to GHFA EDFI or the State in connection with this Agreement, is found to be inaccurate, false, incomplete or misleading when made, in any material respect; (b) any breach by Lender whereby the Lender materially fails to observe, comply with, meet or perform any term, covenant, agreement or other provision contained in this Agreement including, but not limited to, the failure to submit required reports. (c) any other material breach by the Lender of any duty or obligation of the Lender under this Agreement, including, without limitation, the failure to reasonably pursue collections as specified in Section 5.11 hereof; (d) the appointment of a receiver or custodian over a material portion of the Lender's assets, which receiver or custodian is not discharged within sixty (60) days following its appointment; (e) any voluntary bankruptcy or insolvency proceedings are commenced by the Lender; (f) any involuntary bankruptcy or insolvency proceedings are commenced against the Lender, which proceedings are not set aside within sixty (60) calendar days from the date of institution thereof; or (g) any audit finding that the Lender intentionally made misstatements in any report issued to GHFA EDFI or the State shall find the Lender to be in default.
View SourceView Similar (2)
Default by the Lender. In respect of a Term Borrowing after the Effective Date and so long as (a) the Borrower has fully satisfied the conditions set forth in Section 4.02 and (b) the Borrower and the Guarantors have satisfied all their respective obligations pursuant to this Agreement, any failure by the Lender to make a Term Borrowing as provided by Section 2.01(c) shall be deemed a material default of this Agreement by the Lender.
View Source
Default by the Lender. The occurrence of any one or more of the following events or conditions shall constitute an Event of Default by the Lender under this Enhancement Agreement, unless a written waiver of the default is signed by Development: Any representation or warranty made by the Lender under this Enhancement Agreement or any of the Loan documents is incorrect in any material respect; Any material breach by the Lender of any duty or obligation of the Lender, including but not limited to the failure to file required reports, under this Enhancement Agreement which is not cured by the Lender to the reasonable satisfaction of Development within thirty (30) calendar days. The appointment of a receiver or custodian over a material portion of the Lender’s assets, which receiver or custodian is not discharged within sixty (60) calendar days of such appointment; or Any voluntary bankruptcy or insolvency proceedings are commenced by the Lender; or any involuntary bankruptcy or insolvency proceedings are commenced against the Lender, which proceedings are not set aside within sixty (60) calendar days from the date of institution thereof.
View Source
Default by the Lender. If the Lender defaults in any of its obligations to Cornell and as a result thereof the 48,500,000 shares of Technoprises or any portion thereof are not returned (hereinafter referred to as the "Sold Shares"), the Lender shall reimburse the Borrower for the value of the Sold Shares. At the discretion of the Borrower, the value of the Sold Shares shall be paid to it in cash, which can be done by offsetting any amounts owed to the Lender hereunder, or by the issuance of shares of the Lender, which shall be valued as of the daily volume weighted average selling price for the 5 days prior to issuance thereof.
View Source

Related to Default by the Lender

  • 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.

  • Default by Seller If the sale of the Property as contemplated hereunder is not consummated due to Seller's default hereunder, then Purchaser shall be entitled, as its sole remedy for such default, either (a) to receive the return of the ▇▇▇▇▇▇▇ Money, which return shall operate to terminate this Agreement and release Seller from any and all liability hereunder, or (b) to enforce specific performance of Seller's obligation to execute and deliver the documents required to convey the Property to Purchaser, it being understood and agreed that the remedy of specific performance shall not be available to enforce any other obligation of Seller hereunder. Purchaser expressly waives its rights to seek damages in the event of Seller's default hereunder; provided, however, that if Seller's default constitutes an Intentional Seller Default (as hereinafter defined) and Purchaser makes the election described in clause (a) above (or Purchaser makes the election in clause (b) but the remedy of specific performance is not available), then Purchaser shall also have the right to ▇▇▇ Seller for money damages, in an amount equal to the lesser of (i) TWO HUNDRED FIFTY THOUSAND DOLLARS ($250,000.00) in the aggregate, or (ii) the amount of all third-party out-of-pocket costs and expenses actually incurred by Purchaser in connection with this Agreement and the Property ("THIRD-PARTY COSTS"), including due diligence costs, engineering and environmental review costs, and legal fees and expenses. In no event shall Seller be liable for consequential, speculative, remote or punitive damages, or any damages other than Third-Party Costs, and Purchaser hereby waives any right to seek or collect any such consequential, speculative, remote or punitive damages, or any damages other than Third-Party Costs (such Third Party Costs to be limited in all cases as provided above). Purchaser shall be deemed to have elected to terminate this Agreement and receive back the ▇▇▇▇▇▇▇ Money if Purchaser fails to file suit for specific performance against Seller in a court having jurisdiction in the county and state in which the Property is located, on or before sixty (60) days following the date upon which Closing was to have occurred. "INTENTIONAL SELLER DEFAULT" means any one or more of the following: (a) fraudulent misrepresentation, (b) criminal conduct (i.

  • Default by Tenant In addition to provisions of Article 8 of the ----------------- Lease, Tenant shall be deemed to be in default with respect to the License in the event that (a) Tenant shall fail to pay the License Fees within ten (10) days after Tenant's receipt of Landlord's written notice of such failure to pay; provided Landlord shall be required to give such notice only twice in any twelve (12) month period and thereafter Tenant shall be in default if any such payment is not received when due and without notice, or (b) Tenant shall fail to maintain the Tenant Equipment in good order and repair and in a safe condition as provided in this Exhibit and shall fail to remedy that condition within [(i)] twenty-four (24) hours after notice from Landlord [if such failure has an adverse effect on Landlord or other tenants of the Building or creates a possibility of immediate harm to person or property or (ii) thirty (30) days after notice from Landlord in all other circumstances], or (c) Tenant shall fail to maintain all necessary licenses and permits with respect to the operation of the Tenant Equipment. Upon a default by Tenant with respect to the License, Landlord may, at Landlord's sole election, pursue the remedies granted to Landlord for default under the Lease or, in the alternative, terminate any License granted hereunder without terminating the Lease or terminating Tenant's right to possession of the Leased Premises under the Lease.