Default of Company Clause Samples

Default of Company. If the Company fails to comply with or perform in any material respect any of the terms and provisions to be complied with or any of the obligations to be performed by the Company under this Agreement, and such failure continues uncured for a period of thirty (30) days after written notice to the Company specifying the nature of such default (or such longer period of time as may be needed in the exercise by the Company of due diligence to effect a cure of any such non-monetary default), then the Advisor shall have the right, in addition to all other rights and remedies available to the Advisor at law or in equity, at its option, to terminate this Agreement by giving written notice thereof to the Company.
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Default of Company. Following notice to the Company and a thirty (30) day period in which the Company shall have an opportunity to cure the default, CABHI may cease paying further Contributions or reduce the amount of any future Contribution, thereby reducing the total Investment Amount, in the event CABHI determines that: a. one or more Milestones cannot be met or have not been met within the timeframe set out in Schedule B, Section 1; or b. the Company has defaulted on any other of its obligations under this SAFE or the representations and warranties provided in this SAFE are found to have been incorrect in a material respect. CABHI and the Company agree to the following terms and conditions:
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Default of Company. (1) If Company defaults in any material respect in performing any of its obligations under this Agreement and such default is not cured within five (5) days in the case of a monetary default and within thirty (30) days in the case of a non-monetary default, after notice thereof is given by Manager to Company, then, subject to Section 6.4(2) hereof, Manager shall have the right to terminate this Agreement by giving written notice to that effect to Company. (2) If such default is a non-monetary default and is curable but is of such nature that it cannot reasonably be cured within such thirty (30) day period, then the cure period shall be extended for a reasonable period of time thereafter, so long as Company promptly after receiving such notice commences to cure such default and thereafter proceeds with reasonable diligence to complete the curing thereof.
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Default of Company. Upon the occurrence of an Event of Default as provided in the Purchase Agreement, Guarantor unconditionally and absolutely agrees to pay in full the then unpaid amount of all of Company's Indebtedness guaranteed hereunder, in principal interest, costs and reasonable attorneys' fees. Such payment or payments shall be made immediately following demand by Collateral Agent at its offices at 300 Crescent Court, Suite 700, Dallas, Texas 75201. Other than the ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇ntence, Guarantor hereby waives notice of acceptance of this Agreement and of any Indebtedness to which it applies or may apply. Guarantor further waives presentation and demand for payment of Company's Indebtedness, notice of dishonor and of nonpayment, notice of intention to accelerate, notice of acceleration, protest and notice of protest, collection or institution of any suit or other action by Collateral Agent in collection thereof, including any notice of default in payment thereof or other notice to, or demand for payment thereof on any party.
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Related to Default of Company

  • Default of Indebtedness No Borrower is in default in the payment of the principal of or interest on any Indebtedness or under any instrument or agreement under or subject to which any Indebtedness has been issued and no event has occurred under the provisions of any such instrument or agreement which with or without the lapse of time or the giving of notice, or both, constitutes or would constitute an event of default thereunder.

  • Notice of Default or Event of Default promptly, and in any event within five days after a Responsible Officer becoming aware of the existence of any Default or Event of Default or that any Person has given any notice or taken any action with respect to a claimed default hereunder or that any Person has given any notice or taken any action with respect to a claimed default of the type referred to in Section 11(f), a written notice specifying the nature and period of existence thereof and what action the Company is taking or proposes to take with respect thereto;

  • Default of Underwriters If any Underwriter or Underwriters default in their obligations to purchase Offered Securities hereunder on either the First or any Optional Closing Date and the aggregate number of shares of Offered Securities that such defaulting Underwriter or Underwriters agreed but failed to purchase does not exceed 10% of the total number of shares of Offered Securities that the Underwriters are obligated to purchase on such Closing Date, CSFBC may make arrangements satisfactory to the Company for the purchase of such Offered Securities by other persons, including any of the Underwriters, but if no such arrangements are made by such Closing Date, the non-defaulting Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Offered Securities that such defaulting Underwriters agreed but failed to purchase on such Closing Date. If any Underwriter or Underwriters so default and the aggregate number of shares of Offered Securities with respect to which such default or defaults occur exceeds 10% of the total number of shares of Offered Securities that the Underwriters are obligated to purchase on such Closing Date and arrangements satisfactory to CSFBC and the Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the Company, except as provided in Section 9 (provided that if such default occurs with respect to Optional Securities after the First Closing Date, this Agreement will not terminate as to the Firm Securities or any Optional Securities purchased prior to such termination). As used in this Agreement, the term "Underwriter" includes any person substituted for an Underwriter under this Section. Nothing herein will relieve a defaulting Underwriter from liability for its default.