Default of Guarantor Sample Clauses

The "Default of Guarantor" clause defines the circumstances under which a guarantor is considered to be in default under a contract or agreement. Typically, this clause outlines specific events—such as the guarantor's failure to fulfill payment obligations, insolvency, or breach of other material terms—that would trigger a default. For example, if the guarantor does not pay a guaranteed debt when due or enters bankruptcy proceedings, these actions may constitute a default. The core function of this clause is to clearly establish what constitutes a default by the guarantor, thereby protecting the interests of the beneficiary and providing a basis for enforcing remedies if the guarantor fails to meet their obligations.
Default of Guarantor. The failure of the Guarantor to perform any obligation under the Guaranty in a timely manner.
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Default of Guarantor. Any default under the Guaranty or the --------------------- revocation thereof, in whole or part, by the Guarantor.
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Default of Guarantor. Any default by the Guarantor occurs under the terms of any of the Guaranties; the Guarantor shall be dissolved, liquidated, wound-up or merged in violation of Section 6.1(h) hereof; the Guarantor shall be in default of any financial covenant or monetary obligation under a secured or unsecured revolving credit facility; the Guarantor shall for any reason contest, repudiate, or purport to revoke any Guaranty for any reason; or any Guaranty shall cease to be in full force and effect as to the Guarantor or shall be judicially declared null and void as to the Guarantor; or
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Default of Guarantor. The Guarantor is not in default under any material existing agreement, and no Default hereunder has occurred and is continuing.
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Default of Guarantor. The failure of the Guarantor to make any payment or perform any other obligation under the Guaranty in a timely manner; or Board of Water Supply, City and County of Honolulu Kalaeloa Seawater Desalination Facility Design-Build-Operate-Maintain Project Service Agreement Article 17 - Breach, Default, Remedies and Termination
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Default of Guarantor. The failure of the Guarantor to make any payment or perform any other obligation under the Guaranty Agreement in a timely manner, or the failure of the Guarantor to comply with the terms and conditions thereof.
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Default of Guarantor. Any default by the Guarantor or the Limited Guarantor occurs under the terms of any of the Guaranties (including, without limitation, the failure to comply with the financial covenants set forth therein); the Guarantor or Limited Guarantor shall be dissolved, liquidated, wound-up or merged in violation of Section 6.1 hereof; the Guarantor shall be in default of any obligation under any secured or unsecured credit facility; the Guarantor or the Limited Guarantor shall for any reason contest, repudiate, or purport to revoke any Guaranty for any reason; or any Guaranty shall cease to be in full force and effect as to the Guarantor or the Limited Guarantor, as applicable, or shall be judicially declared null and void as to the Guarantor or the Limited Guarantor, as applicable; or
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Default of Guarantor. If the performance of Tenant's obligations under this Lease is guaranteed: (i) the death of a guarantor, (ii) the termination of a guarantor's liability with respect to this Lease other than in accordance with the terms of such guaranty, (iii) a guarantor becoming insolvent or the subject of a bankruptcy filing, or (iv) a guarantor's refusal to honor the guaranty.
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Related to Default of Guarantor

  • 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.

  • Default of Tenant Each of the following shall constitute a default by Tenant under this Lease: (a) Tenant fails to pay any amount required under this Lease as and when the same becomes due and said failure is not cured within ten (10) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, condition, or obligation under this Lease and said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇.

  • 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 or Event of Default Seller shall notify Buyer of the occurrence of any Default or Event of Default with respect to Seller as soon as possible but in no event later than two (2) Business Days after obtaining Knowledge of such event.

  • Notice of Event of Default If the Mortgagee shall have Actual Knowledge of an Event of Default or of a Default arising from a failure to pay any installment of principal and interest on any Equipment Note, the Mortgagee shall give prompt written notice thereof to each Note Holder. Subject to the terms of Sections 5.06, 6.02 and 6.03 hereof, the Mortgagee shall take such action, or refrain from taking such action, with respect to such Event of Default or Default (including with respect to the exercise of any rights or remedies hereunder) as the Mortgagee shall be instructed in writing by a Majority in Interest of Note Holders. Subject to the provisions of Section 6.03, if the Mortgagee shall not have received instructions as above provided within 20 days after mailing notice of such Event of Default to the Note Holders, the Mortgagee may, subject to instructions thereafter received pursuant to the preceding provisions of this Section 6.01, take such action, or refrain from taking such action, but shall be under no duty to take or refrain from taking any action, with respect to such Event of Default or Default as it shall determine advisable in the best interests of the Note Holders; provided, however, that the Mortgagee may not sell the Aircraft or any Engine without the consent of a Majority in Interest of Note Holders. For all purposes of this Trust Indenture, in the absence of Actual Knowledge on the part of the Mortgagee, the Mortgagee shall not be deemed to have knowledge of a Default or an Event of Default (except, the failure of Owner to pay any installment of principal or interest within one Business Day after the same shall become due, which failure shall constitute knowledge of a Default) unless notified in writing by the Owner or one or more Note Holders.