Defaults - General Sample Clauses

Defaults - General. Subject to the extensions of time set forth in Section 8.07 below, failure or delay by any Party to perform any material term or provision of this Agreement, after receiving written notice thereof and failing to cure, as set forth in Section 8.02 below, constitutes an “Event of Default” under this Agreement. The Claimant will give written notice of default to the defaulting Party, specifying the nature of the default.

Defaults - General. Subject to the extensions of ------------------ time set forth in subsection 17.3 above, failure by either party to perform any term or provision of this Lease constitutes a default under this Lease, if not cured within thirty (30) days from the date of receipt of a written notice from the other party specifying the claimed default provided that if such default cannot reasonably be cured within such thirty (30) day period, the party receiving such notice of default shall not be in default under this Lease if such party commences the cure of such default within such thirty (30) day period and thereafter diligently prosecutes the steps to cure such default to completion.

Defaults - General. Subject to the Force Majeure Delay and any extensions of time approved in writing by the parties, failure or delay by either party to perform any term or provision of this Agreement at the time indicated in this Agreement constitutes a default under this Agreement. As provided, hereinbelow, the party who so fails or delays must immediately commence to cure, correct or remedy such failure or delay and shall complete such cure, correction or remedy with reasonable diligence. The injured party shall give written notice of default to the party in default, specifying the default complained of by the injured party. Failure or delay in giving such notice shall not constitute a waiver of any default, nor shall it change the time of default. Except as otherwise expressly provided in this Agreement, any failures or delays by either party in asserting any of its rights and remedies as to any default shall not operate as a waiver of any default or of any such rights or remedies. Delays by either party in asserting any of its rights and remedies shall not deprive either party of its right to institute and maintain any actions or proceedings which it may deem necessary to protect, assert or enforce any such rights or remedies. If a monetary event of default occurs, prior to exercising any remedies hereunder, the injured party shall give the party in default written notice of such default. The party in default shall have a period of thirty (30) days after such notice is given within which to cure the default prior to exercise of remedies by the injured party. If a non-monetary event of default occurs, prior to exercising any remedies hereunder, the injured party shall give the party in default notice of such default. If the default is reasonably capable of being cured within thirty (30) days, the party in default shall have such period to effect a cure prior to exercise of remedies by the injured party. If the default is such that it is not reasonably capable of being cured within thirty (30) days, and the party in default (i) initiates corrective action within said period, and (ii) diligently, continually, and in good faith works to effect a cure as soon as possible, then the party in default shall have such additional time as is reasonably necessary to cure the default prior to exercise of any remedies by the injured party. If Borrower fails to take corrective action or cure the default within a reasonable time, the City shall give the Senior Lender and, as provided in...

Defaults - General. Subject to the permitted extensions of time and other cure periods set forth in this Agreement and in the Project Documents, failure or delay by any party to perform any term or provision of this Agreement constitutes a Default hereunder and under Project Documents. The party who so fails or delays must immediately commence to cure, correct, or remedy such failure or delay, and shall complete such cure, correction or remedy with diligence.

Defaults - General. 7.1.1 Subject to any extensions of time provided for in this Agreement, failure or delay by any Party to perform any term or provision of this Agreement shall constitute an “Event of Default” under this Agreement; provided, however, that if a Party otherwise in default commences to cure, correct or remedy such default, within thirty (30) calendar days after receipt of written notice from the injured Party specifying such default, and shall diligently and continuously prosecute such cure, correction or remedy to completion (and where any time limits for the completion of such cure, correction or remedy are specifically set forth in this Agreement, then within said time limits), such Party shall not be deemed to be in default under this Agreement and no Event of Default shall be deemed to have occurred. 7.1.2 The injured Party shall give written notice of default to the Party in default, specifying the default complained of by the non-defaulting Party. Delay in giving such notice shall not constitute a waiver of any default nor shall it change the time of default. 7.1.3 Any failure or delays by any Party in asserting any of their rights and/or remedies as to any default shall not operate as a waiver of any default or of any such rights or remedies. Delays by any Party in asserting any of its rights and/or remedies shall not deprive that Party of its right to institute and maintain any actions or proceedings that it may deem necessary to protect, assert or enforce any such rights or remedies. 7.1.4 In addition to other acts or omissions of the Developer that may legally or equitably constitute a default or breach of this Agreement, the occurrence of any of the following specific events, prior to the issuance of a Certificate of Completion for the Project, shall constitute an “Event of Default” under this Agreement and shall not be subject to the notice and cure provisions of Section 7.1.1: 7.1.4.1 Any material default by the Developer under any Security Financing Instrument for any purpose or reason that remains uncured following any applicable notice and expiration of any applicable cure period under such Security Financing Instrument. 7.1.4.2 Any representation, warranty or disclosure made to the City by the Developer regarding this Agreement or the Project is materially false or misleading, whether or not such representation or disclosure appears in this Agreement. 7.1.4.3 The construction of the Project is delayed or suspended for a period in excess of th...

Defaults - General. Subject to the extensions of time set forth in Section 602, failure or delay by either party to perform any term or provision of this Agreement constitutes a default under this Agreement. The party who fails or delays must commence to cure, correct or remedy such failure or delay and shall complete such cure, correction or remedy with reasonable diligence.

Defaults - General. Failure or delay by any Party to perform any material term or provision of this Agreement, after receiving written notice thereof and failing to cure, as set forth in Section 5.02 below, constitutes an “Event of Default” under this Agreement. The party claiming default will give written notice of default to the defaulting Party, specifying the nature of the default.

Defaults - General. A. Failure or delay by either party to perform any term or provision of this Expansion Agreement, or other agreement entered into pursuant to this Expansion Agreement, constitutes a default under this Expansion Agreement; provided, however, that no party shall be deemed to be in default under this Expansion Agreement unless and until such party has received notice of default as provided in Subsection B. below (“Notice of Default”) and the applicable cure period has expired without a cure being effected. The party who so fails or delays must immediately commence to cure, correct or remedy such failure or delay, and shall complete such cure, correction or remedy with reasonable diligence or within the times specifically set forth in the specifically applicable sections of this Expansion Agreement. B. Except as otherwise provided in Subsection A hereof, the party complaining of a default shall give written Notice of Default to the defaulting party specifying the default complained of. Except as otherwise expressly provided in this Expansion Agreement, any failure or delay by either party in asserting any of its rights and remedies as to any default shall not operate as a waiver of any default or of any such rights or remedies or deprive either party of its right to institute and maintain any actions or proceedings which it may deem necessary to protect, assert or enforce any such rights or remedies.

Defaults - General. In addition to any other event described in this Agreement as a default, the occurrence of any of the following shall be deemed a default under this Agreement: (a) The failure or delay by either party to perform any term or provision of this Agreement if such failure is not cured, corrected or remedied within any specific time period set forth in this Agreement. (b) If no other specific time period is set forth herein, the failure to cure a monetary default under this Agreement (other than any monetary defaults specifically listed in any of the other subparagraphs of this Section 7.1) within ten (10) days after the nonperforming party’s receipt of written notice from the other party specifying the nature of the default. (c) If no other specific time period is set forth herein, the failure to cure a non- monetary default under this Agreement (other than any non-monetary defaults specifically listed in any of the other subparagraphs of this Section 7.1) within thirty (30) days after the nonperforming party’s receipt of written notice from the other party specifying the nature of the default. (d) The occurrence of a Program Default described in Section 3.3 (e) Any of the warranties or representations made by Participant herein are or become false, incorrect or misleading in any material respect. (f) Participant commits any act of bankruptcy or if any relief under the United States Bankruptcy Code (11 U.S.C. § 101 et seq.) is sought by or against Participant, or if a receiver is appointed to take charge of the assets or affairs of Participant, or if Participant should make an assignment for the benefit of creditors, or if Participant should become insolvent, or upon any liquidation or termination of Participant; provided, however, that if any such proceeding is brought involuntarily against Participant, Participant shall have forty-five (45) days to obtain the dismissal of such proceeding. Any party that is in default shall provide immediate written notice to the other party of the default.