Default Payments Clause Samples

Default Payments. If a Default occurs, the Lessee will indemnify and pay to Lessor on demand against any loss, damage, expense, cost or liability which the Lessor may sustain or incur directly or indirectly as a result, including: (a) all unpaid Basic Rent, Additional Rent and Supplemental Rent then due and unpaid; (b) any loss of profit (calculated on an after-tax basis) suffered by the Lessor because of the Lessor's inability to place the Aircraft on lease with another Lessee on terms as favorable to the Lessor as this Agreement or because whatever use, if any, to which the Lessor is able to put the Aircraft upon its return to the Lessor, is not as profitable (calculated on an after-tax basis) to the Lessor as this Agreement would have been but for such Default or non-delivery; (c) in the event that the Aircraft is sold prior to Lessor entering into a replacement lease, the amount (if any) by which (i) the aggregate of (1) the net sale proceeds (calculated by deducting the costs of sale together with the cost of preparing the Aircraft for sale and the repayment of any outstanding indebtedness in relation to the financing of the Aircraft) plus (2) the present value of the anticipated after-tax net income to be derived from such net sale proceeds up to the Scheduled Expiry Date, discounted on a monthly basis using 9.5% per annum as the discount rate, are less than (ii) the aggregate of (1) the present value of the anticipated net sale proceeds (computed on the same basis as the net sale proceeds referred to in (i)(1) above), assuming that the Aircraft would have been sold as soon as reasonably practicable following the Scheduled Expiry Date plus (2) the present value of the income that would have been derived from the future Basic Rent payable until the Scheduled Expiry Date, discounted on a monthly basis using 9.5% per annum as the discount rate; (d) any amount of principal, interest, fees or other sums whatsoever paid or payable on account of funds borrowed in order to carry any amount unpaid by the Lessee; (e) any loss, premium, penalty or expense that may be incurred in repaying funds raised to finance the Aircraft or in unwinding any swap, forward interest rate agreement or other financial instrument relating in whole or in part to the Lessor's financing of the Aircraft; and (f) any loss, cost, expense or liability sustained or incurred by the Lessor owing to the Lessee's failure to redeliver the Aircraft on the date, at the place and in the condition required by this ...

Default Payments. If:- (a) a Default occurs; or (b) the Aircraft is not delivered on the proposed Delivery Date by reason of failure of Lessee to satisfy any conditions to that delivery; Lessee will indemnify Lessor on its own behalf and on behalf of Owner and Sub Lessor on demand against any loss (including loss of profit), damage, expense, cost or liability which Lessor, Sub Lessor or Owner may sustain or incur directly or indirectly as a result including but not limited to:- (a) any loss of profit suffered by Lessor, Sub Lessor or Owner because of Lessor's or Owner's inability to place the Aircraft on lease with another lessee on terms as favourable to Lessor as this Agreement or because whatever use, if any, to which Lessor, Sub Lessor or Owner is able to put the Aircraft upon its return to Lessor, or the funds arising upon a sale or other disposal of the Aircraft, is not as profitable to Lessor, Sub Lessor or Owner as this Agreement; (b) any amount of principal, interest, fees or other sums whatsoever paid or payable on account of funds borrowed in order to carry any unpaid amount; (c) any loss, premium, penalty or expense which may be incurred in repaying funds raised to finance the Aircraft or in unwinding any swap, forward interest rate agreement or other financial instrument relating in whole or in part to Lessor's, Sub Lessor's or Owner's financing of the Aircraft; and (d) any loss, cost, expense or liability sustained or incurred by Lessor owing to Lessee's failure to redeliver the Aircraft on the date, at the place and in the condition required by this Agreement.

Default Payments. In the circumstance of payment default, Applicant consents and authorizes the School and all persons or agencies acting on its behalf, without further notice, to conduct an investigation into Applicant’s credit worthiness prior to determining a modified payment plan to help bring Applicant’s account current. The School maintains its right, at its sole discretion, to report default to the credit bureaus. Applicant waives any and all claims past, present, or future against the School regarding credit investigation caused by Applicant’s default.

Default Payments. Sublessee shall be liable for: (i) any and all unpaid Rent due hereunder before or after any termination hereof; (ii) any and all unpaid Supplemental Rent due hereunder before or after any termination hereof; (iii) all costs and expenses (including attorney's fees and disbursements) incurred by Sublessor in connection with or as a result of any Event of Default or exercise of remedies hereunder, including, but not limited to, (i) all costs and expenses incurred in connection with recovering possession of the Aircraft and in carrying out any works or modifications required to place the Aircraft in the condition specified in Clause 23.1 and remarketing the Aircraft, (ii) interest at the Default Rate on any amount not paid when due under this Agreement and (iii) an amount sufficient to fully compensate Sublessor for any loss of or damage to Sublessor's residual interest in the Aircraft. All costs and expenses referred to in the preceding sentence shall be payable by Sublessee upon demand by Sublessor unless otherwise specified in this Agreement. All such obligations shall survive any termination of this Agreement or the leasing of the Aircraft or any portion thereof hereunder.

Default Payments. If: (a) An Event of Default occurs; or (b) The Aircraft is not delivered on the proposed Delivery Date by reason of failure of Lessee to satisfy any conditions to that delivery and such failure is not the result of Lessor's breach hereunder; Lessee will indemnify Lessor on demand against any loss, damage, expense, cost or liability which Lessor may sustain or incur directly or indirectly as a result including but not limited to: (a) Any amount of principal, interest, fees or other sums whatsoever paid or payable on account of funds borrowed in order to carry any unpaid amount; (b) Any loss, premium, penalty or expense which may be incurred in repaying funds raised to finance the Aircraft or in unwinding any swap, forward interest rate agreement or other financial instrument relating in whole or in part to Lessor's financing of the Aircraft; and (c) Any loss, cost, expense or liability sustained or incurred by Lessor owing to Lessee's failure to redeliver the Aircraft on the date, at the place and in the condition required by this Agreement.

Default Payments. If: (1) Default occurs and is continuing; or (2) the Aircraft is not delivered on the proposed Delivery Date by reason of failure of Lessee to satisfy any conditions to that delivery except in the event of an Excusable Delay; Lessee will indemnify Lessor on demand against any loss (including loss of profit), damage, expense, cost or inability which Lessor may sustain or incur directly or indirectly as a result thereof including but not limited to: (a) any loss of profit suffered by Lessor because of Lessor's inability to place the Aircraft on lease with another lessee on terms as favorable to Lessor as this Agreement or because the following are not as profitable to Lessor as such lease would have been but for such Default or non-delivery referred to in (1) and (2) above, namely (i) whatever use if any to which Lessor is able to put the Aircraft as an alternative to the Lease under this Agreement or (ii) any consequent sale or disposal by Lessor of the Aircraft and the funds arising upon such sale or disposal; and (b) any loss, cost, expense, or liability sustained or incurred by Lessor owing to Lessee's failure to redeliver the Aircraft on the date, at the place and in the condition required by this Agreement.

Default Payments. Without prejudice to any other rights available to the Seller, the Customer shall be liable for any legal or other collection costs on overdue accounts.

Default Payments. In the event that a Default Payment becomes due from Maker to Holder as provided in Section 3, the issuance of common stock in satisfaction of such Default Payments shall be at the price per share equal to the average of the closing price of the Company’s common stock on the US Nasdaq Over the Counter Bulletin Board Market on each of the ten (10) trading days preceding (a) the date on which such Default Payment becomes due, or (b) the date on which such Default Payment is made, whichever is lower.

Default Payments. The lessee shall pay lease fee, taxes, other fees or any liabilities to the lessor in due course. If the payment is overdue, the lessee shall pay a penalty at the rate of 1.5 (one point five) percent per month on such unpaid amount. A fraction of a month shall be counted as one month. 13 End of the agreement 13.1 Throughout the duration of this lease agreement, if the lessor has a necessity to use the leased space for the benefit of the state or of the government or of the lessor, the lessee shall allow the lessor to terminate the agreement by giving the lessee a written notice of at least 30 (thirty) days in advance; and the lessor shall not have to pay any remuneration or compensation to the lessee. 13.2 If the lessee wants to terminate this agreement before the expiration of the agreement, the lessee shall provide a written notification to the lessor not less than 180 (one hundred and eighty) days in advance. If the lessee terminates the agreement while utilizing the leased space for less than 1 (one) year, the lessor is not obliged to return the security deposit to the lessee. 13.3 Throughout the duration of this lease agreement, if there is a disaster, fire, or destruction in any way to the leased space without the fault of the lessee or the lessor to the extent that the leased space is damaged and not in a fit state to be used in accordance with the purposes of the lease in 1, it shall be deemed that the lease agreement is terminated immediately, and the lessor is not required to inform the lessee in advance. Moreover the lessee shall not demand for the return of the money paid for the lease. 13.4 Throughout the duration of this lease agreement, if the lessee becomes a bankrupt and is likely to fail to perform agreement or in the event that the lessor has a problem regarding compliance with the agreement and the lessor needs to call the lessee for a meeting but the lessee does not go to meet the lessor on the date and time specified in the invitation letter up to 3 times in a row without any legitimate reason, the lessor can terminate the agreement. 13.5 If the lessee fails to comply with any provision of the lease agreement and the lessor sends a notice to the lessee to act correctly within a reasonable period of time specified by the lessor on a case-by-case basis, but the lessee does not act correctly within the said period, the lessor has the right to terminate the lease agreement. Once the lessor exercises the right to terminate the lease agreem...