Default under the Loan Documents Sample Clauses

The "Default under the Loan Documents" clause defines what constitutes a default or breach of obligations by the borrower under the terms of the loan agreement and related documents. Typically, this clause outlines specific events or actions—such as missed payments, failure to maintain required insurance, or violation of financial covenants—that trigger a default. When a default occurs, the lender may have the right to accelerate the loan, demand immediate repayment, or exercise other remedies. The core function of this clause is to clearly establish the circumstances under which the lender can take protective action, thereby managing risk and ensuring the enforceability of the loan agreement.
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Default under the Loan Documents. The occurrence of an Event of Default under any of the Loan Documents.
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Default under the Loan Documents. The occurrence of any Event of Default under the Revolving Credit Note or any other Loan Document;
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Default under the Loan Documents. Provided that no Event of Default (which, for the avoidance of doubt includes an Event of Default contemplated by Paragraph 9 of this Agreement) under the Loan Documents (other than the failure of Senior Mezzanine Borrower to make (i) full payment of all interest due on December 9, 2008 under the Note (as defined in the Senior Mezzanine Loan Payoff Agreement) and (ii) all subsequent monthly payments due under the Note (as defined in the Senior Mezzanine Loan Payoff Agreement), which failures continue after the expiration of all applicable grace or cure periods therefor) has occurred, ▇▇▇▇▇▇ Re agrees not to exercise any remedies under the Loan Documents which ▇▇▇▇▇▇ Re may have resulting solely from such defaults during the period (the “Forbearance Period”) from the Effective Date through and including the earlier of (x) the Closing Date and (y) the termination of this Agreement. Nothing contained in the foregoing, however, shall limit or restrict ▇▇▇▇▇▇ Re from taking any action during the Forbearance Period that ▇▇▇▇▇▇ Re may take under the Loan Documents or at law or in equity necessary or appropriate in ▇▇▇▇▇▇ Re’s discretion to preserve, protect or defend any of the collateral described in the Loan Documents including, without limitation (i) defending, intervening in or filing of any legal proceedings relating to any such collateral;
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Default under the Loan Documents. The occurrence of an Event of Default under and as defined in any of the Loan Documents.
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Default under the Loan Documents. Provided that no Event of Default (which, for the avoidance of doubt includes an Event of Default contemplated by Paragraph 9 of this Agreement) under the Loan Documents (other than the failure of Borrower to make (i) full payment of all interest due on December 9, 2008 under the Note and (ii) all subsequent monthly payments due under the Note), which failures continue after the expiration of all applicable grace or cure periods therefor) has occurred, LBHI agrees not to exercise any remedies under the Loan Documents which LBHI may have resulting solely from such defaults during the period (the “Forbearance Period”) from the Effective Date through and including the earlier of (x) the Closing Date and (y) the termination of this Agreement. Nothing contained in the foregoing, however, shall limit or restrict LBHI from taking any action during the Forbearance Period that LBHI may take under the Loan Documents or at law or in equity necessary or appropriate in LBHI’s discretion to preserve, protect or defend any of the collateral described in the Loan Documents including, without limitation (i) defending, intervening in or filing of any legal proceedings relating to any such collateral; (ii) the sending of any notices to any persons or entities concerning the existence of security interests or liens in favor of LBHI relating to such collateral; or (iii) otherwise preserving any of LBHI’s rights, remedies or positions.
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Default under the Loan Documents. 3.1 In the event that Borrower shall cause or permit to occur an event of default under any of the Loan Documents, such Lender that is a party to any such Loan Document (a "Notifying Lender") will, upon becoming aware of the existence of such event of default, use its best efforts to notify all other Lenders of the existence of such event of default. Receipt by any Lender of such a notice of default shall not cause any Lender to be obligated to cure any such default. Failure of a Notifying Lender to provide such notice of default shall not result in any liability to any Lender in the absence of gross negligence or willful misconduct. Upon receiving notice from a Notifying Lender of an event of default for failure to pay monies due and owing to any Lender under any Loan Document, any Lender may, but is not required to, cure such payment default on behalf of Borrower within ten (10) business days of receiving notice of the payment default from a Notifying Lender. During such ten (10) business day period, if any Lender cures such payment default, Lenders shall not take any action against Borrower with respect to such default. In the event that any Lender elects to cure such payment default, any amount such Lender pays to any other Lender to cure Borrower's payment default shall be considered a portion of Borrower's indebtedness to such Lender. 3.2 In the event that a default or an event of default exists with respect to any of the Loan Documents, the applicable Lender may, after providing written notice of such default to all other Lenders and subject to the provisions of this Intercreditor Agreement, take any action it deems appropriate to enforce its rights and remedies under the Loan Documents and its security interests in or liens on, or exercise any other rights or remedies to foreclose or otherwise realize upon, any of the Collateral. 3.3 In the event Borrower defaults on its obligations to any Lender and, as a result, any Lender undertakes to enforce its security interest in the Collateral, each Lender agrees that it will not hinder, delay or otherwise prevent such Lender from taking any and all action which such Lender deems necessary to enforce its security interest in said Collateral and to realize thereon. Lenders agree that, to the extent any Lender receives any proceeds directly from any bank account, any account debtor or from the sale of any Collateral, then such Lender shall distribute such proceeds in accordance with the terms of this Intercr...
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Default under the Loan Documents. If the Borrower fails to comply with or observe any of the terms, covenants, obligations, or agreements contained in the Loan Documents (other than this Agreement), and such default is not cured within the cure periods, if any, provided under the Loan Document in question; or
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Default under the Loan Documents. The occurrence of any default under any of the other Loan Documents, including the Note and Mortgage.
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Default under the Loan Documents 
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Related to Default under the Loan Documents

  • Default under Loan Documents A default under any of the other Loan Documents, all of which covenants, conditions and agreements contained therein are hereby incorporated in this Agreement by express reference, shall be and constitute an Event of Default under this Agreement and any other of the Obligations.

  • Default Under Other Loan Documents Any Credit Party shall default in the performance or observance of any term, covenant, condition or agreement on its part to be performed or observed hereunder or under any Loan Document (and not constituting an Event of Default under any other clause of this Section 10.1) and such default shall continue unremedied for a period of thirty (30) days after written or telephonic (immediately confirmed in writing) notice thereof has been given to the Borrower by the Administrative Agent; or

  • Default by Borrower Upon the occurrence of any event of default under the Loan, Administrative Agent may accelerate payment under the Loan and/or under any note or notes evidencing the Loan, and shall institute such legal proceedings and take such other actions (“Enforcement Actions”) as are in its opinion necessary and appropriate to collect the Debt then due under the Loan, to enforce the security therefor, and to protect and preserve the respective rights and interests of Lender and the Participants. If Lender and Participants are unable to recover from Borrower the entire amount of fees, costs and expenses of all Enforcement Actions, then each Participant shall contribute to such portion as is not recovered from Borrower, ratably in accordance with its Participant Share.

  • Default Under Other Agreements (a) Any event of default occurs under any financial contract or financial document relating to any Indebtedness of any member of the NCLC Group; (b) Any such Indebtedness or any sum payable in respect thereof is not paid when due (after the expiry of any applicable grace period(s)) whether by acceleration or otherwise; (c) Any Lien over any assets of any member of the NCLC Group becomes enforceable; or (d) Any other Indebtedness of any member of the NCLC Group is not paid when due or is or becomes capable of being declared due prematurely by reason of default or any security for the same becomes enforceable by reason of default, provided that: (i) it shall not be a Default or Event of Default under this Section 11.04 unless the principal amount of the relevant Indebtedness as described in preceding clauses (a) through (d), inclusive, exceeds $15,000,000; (ii) no Event of Default will arise under clauses (a), (c) and/or (d) until the earlier of (x) 30 days following the occurrence of the related event of default, Lien becoming enforceable or Indebtedness becoming capable of being declared due prematurely, as the case may be, and (y) the acceleration of the relevant Indebtedness or the enforcement of the relevant Lien; and (iii) if at any time hereafter the Parent or any other member of the NCLC Group agrees to the incorporation of a cross default provision into any financial contract or financial document relating to any Indebtedness that is more onerous than this Section 11.04, then the Parent shall immediately notify the Facility Agent and that cross default provision shall be deemed to apply to this Agreement as if set out in full herein with effect from the date of such financial contract or financial document and during the term of that financial contract or financial document; or

  • Other Defaults Under Loan Documents Any Loan Party shall default in the performance of or compliance with any term contained in this Agreement or any of the other Loan Documents, other than any such term referred to in any other subsection of this Section 8, and such default shall not have been remedied or waived within 30 days after the earlier of (i) an Officer of Company or such Loan Party becoming aware of such default or (ii) receipt by Company and such Loan Party of notice from Administrative Agent or any Lender of such default; or