Default Options Clause Samples

Default Options. If the Tenant violates any term or obligation under this Lease, or has misrepresented any material fact to the PHA, then the PHA shall have the right, at its option, to pursue any of the following remedies: a) Civil suit for collection of any amount that may be owed to the PHA in the form of rent, utility surcharges, or for damage to its property; b) Evict the Tenant and all members of the household; c) Seek criminal prosecution, if appropriate; d) Refer the Tenant to a collection agency for collection of any amount due and not paid; e) Report any amount due by the Tenant to the PHA to a credit bureau; f) Report to HUD any debt owed or any eviction; and g) Recommend administrative sanctions by HUD.

Default Options. If an employee fails to enroll or waive medical coverage within the required enrollment period, the employee will be automatically enrolled in the City’s default medical plan. The default plan shall be the Regence PPO Plan.

Default Options. Any material breach of a covenant, obligation or undertaking under the Joint Venture Implementation Agreement or this Agreement that constitutes a Default Event according to Section 11.1 of the Joint Venture Implementation Agreement, shall trigger to the non-defaulting Shareholder the following rights: (a) right to purchase all of the Shares held by the defaulting Shareholder at a price corresponding to [*] (“Default Call Option”); or (b) right to sell all of its Shares to the defaulting Shareholder at a price corresponding to [*] (“Default Put Option”).

Default Options. 9.4.1 In the event that any Default Notice is served on the Company pursuant to the provisions of this Clause 9 in respect of the occurrence of a Specified Default Event as set out in Clause 9.2.1 or 9.2.2(i): (i) the voting rights and any other rights of the Defaulting Shareholder (whether under this Agreement or under the Constitution, including any rights to receive dividends) shall be suspended; and (ii) the Non-Defaulting Shareholders shall, without prejudice to any other rights and remedies they may have, be entitled to: (a) call options (the “Default Call Options” and each, a “Default Call Option”), being the right of the Non-Defaulting Shareholders to require the Defaulting Shareholder to sell to the Non-Defaulting Shareholders pro rata (based on their respective Shareholding Percentages) free from all Encumbrances and with all rights and advantages attaching thereto, all (and not some only) of the Shares held by the Defaulting Shareholder for the time being (the “Defaulting Shareholder’s Shares”). If any Non-Defaulting Shareholder does not exercise its Default Call Option, the Shares subject to such Default Call Option shall be offered to the other Non-Defaulting Shareholders on the same terms and conditions, pro rata based on their respective Shareholding Percentages inter se; or (b) put options (the “Default Put Options” and each, a “Default Put Option”), being the right of each Non-Defaulting Shareholder to require the Defaulting Shareholder to purchase from such Non- Defaulting Shareholder free from all Encumbrances and with all rights and advantages attaching thereto, all (and not some only) of the Shares held by such Non-Defaulting Shareholder for the time being (the “Non-Defaulting Shareholder’s Shares”), provided always that if any of the Non-Defaulting Shareholders exercise their Default Call Option, the other Non-Defaulting Shareholders may only elect to exercise their Default Call Option and will no longer be able to exercise their Default Put Option. 9.4.2 In the event that any Default Notice is served on the Company pursuant to the provisions of this Clause 9 in respect of the occurrence of a Specified Default Event as set out in Clause 9.2.2(ii), the Non-Defaulting Shareholders shall, without prejudice to any other rights and remedies they may have, be entitled to call options (the “Insolvency Call Options” and each, an “Insolvency Call Option”), being the right of the Non-Defaulting Shareholders to require the Defaulting Shareholder...

Default Options. We return the Exception Check to the bank of first deposit marked "refer to maker" even if you validly issued the Exception Check (and do not charge it to your Account). We recommend the "return all" Default Option because it reduces the risk of unauthorized Checks being paid on your Account (even though it may result in valid Checks being returned unpaid).

Default Options. Each Loan shall be either a Prime Rate Loan or a LIBOR Loan as shall be selected by Borrower, except as otherwise provided herein. During any period that any Event of Default or Potential Event of Default shall occur and be continuing, Borrower shall no longer have the option of electing LIBOR Loans, and all Loans made during such period shall be Prime Rate Loans only. It being understood, however, that nothing herein shall be construed to waive, amend or modify any right or power of the Banks and the Agent hereunder, including, without limitation, all rights to terminate the Commitments and declare the Obligations immediately due and payable.

Default Options. Business Unit Requisition ID Default If you select this option, the default values entered on this page are treated as part of the defaulting logic and are only applied if no other default values are found for each field. If default values already exist in the hierarchy, they are used, and the values on this page are not used. Override Line

Default Options. If the Tenant violates any term or obligation under this lease, or has misrepresented any material fact to the PHA, then the PHA shall have the right, at its option, to pursue any of the following remedies: 1. Civil suit for collection of any amount that may be owed to the PHA in the form of rent, utility charges, or for damage to its property;

Default Options. If Customer fails to provide Pay or Return Decisions to Bank in accordance with these requirements, Exception Checks will be handled in accordance with the default option as set forth in the Services’ Setup Form(s) for each Authorized Account, in accordance with the following: