Defaults Under Contracts Clause Samples

The "Defaults Under Contracts" clause defines what constitutes a breach or failure to perform under the terms of an agreement. It typically outlines specific actions or omissions—such as missed payments, failure to deliver goods or services, or violation of key obligations—that will be considered defaults. This clause often details the process for notifying the defaulting party and any grace periods for remedying the breach. Its core practical function is to provide clarity on what triggers a default, thereby protecting parties by establishing clear consequences and procedures for addressing contract violations.
Defaults Under Contracts. All Liabilities of Seller of any kind or nature arising out of a breach or default by Seller under any Assigned Contract prior to the Effective Time;
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Defaults Under Contracts. Except as identified in Schedule 6.2(e), neither Powertel nor Sellers (nor any of their Affiliates who may be a party to any Contract) have received any written communication from, or given any written communication to, any other party, indicating that Powertel or Sellers (or such Affiliates) or such other party, as the case may be, is in Default under any Contract. Except as identified in Schedule 6.2(e), to the knowledge of Powertel and Sellers, neither Powertel nor Sellers (nor any of their Affiliates who may be a party to any Contract) nor any of the other parties to any such Contract is in Default thereunder. Except as identified in Schedule 6.2(e), each such Contract, including, without limitation, each Site Lease, is in full force and effect and is enforceable against the other parties thereto in accordance with its terms, except to the extent that such enforcement may be limited by applicable bankruptcy, reorganization, insolvency and other Laws of general application affecting enforcement of creditors' rights generally. No written communication has been received from or given to Powertel, Sellers or any party to or assignee of the Site Leases, indicating that Powertel or Sellers or any other party to or assignee of the Site Leases is in Default thereunder, and to the knowledge of Powertel and Sellers, no Default exists thereunder except as identified in such Schedule.
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Defaults Under Contracts. Borrower shall not suffer or permit any breach or default to occur under the Architect Agreement, Construction Contract or any subcontracts, and shall promptly notify Lender of any default thereunder.
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Defaults Under Contracts. There is not under any contract or agreement to which Seller is a party, or by which Seller is bound, any existing default by Seller or to the Knowledge of Seller any other party on the Assumed Liabilities, the Purchased Assets or the Branches. There is not any existing default by Seller or, to the Knowledge of Seller, any other party under the Other Assigned Contracts. . Since December 31, 2016, there has been no material adverse change in the business, properties or operations with respect to each of the Branches.
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Defaults Under Contracts. To the knowledge of Seller and Parent, no party is in default under any of the contracts and agreements listed in Schedule 1.2(b)(ii).
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Defaults Under Contracts. Except as identified in Schedule ------------------------ 6.2
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Defaults Under Contracts. LIABLE TO TERMINATION With respect to each Contract: (a) there has been no material delay, material negligence or material default on the part of ▇▇▇▇ ▇▇▇▇ or the ▇▇▇▇ ▇▇▇▇ Companies or any other party to a Contract and no event has occurred which with the giving of notice or passage of time, may constitute a material default; (b) ▇▇▇▇ ▇▇▇▇ and ▇▇▇▇ ▇▇▇▇ Companies are under no obligation which cannot readily be fulfilled, performed or discharged by it on time and without undue or unusual expenditure or effort; (c) in the reasonable opinion of the Sellers, ▇▇▇▇ ▇▇▇▇ and the ▇▇▇▇ ▇▇▇▇ Companies has the technical and other capabilities and the human and material resources to enable it to fulfill, perform and discharge all its outstanding obligations in the ordinary course of business; and (d) The Sellers have not received any notice of termination of any Contract and to the best of the Sellers' knowledge there are no grounds for rescission, avoidance, repudiation or termination.
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Defaults Under Contracts. 5.12.1 No threat or claim of default, under any agreement, instrument or arrangement to which the Company is a party has been received by the Seller or any member of the Seller's Group and to the best of the Seller's knowledge is outstanding, against the Company. 5.12.2 To the best of the Seller's knowledge no party to any agreement with, or under an obligation to, the Company is in default there under, being a default which would be material in the context of the financial or trading position of the Company; and so far as the Seller is aware there are no circumstances likely to give rise to such a default.
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Related to Defaults Under Contracts

  • 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

  • Defaults Under Other Agreements With respect to any Indebtedness (other than Indebtedness of such Borrower outstanding under this Credit Agreement) of such Borrower or a Material Subsidiary of such Borrower in a principal amount in excess of $100,000,000, (i) such Borrower or a Material Subsidiary of such Borrower shall (A) default in any payment (beyond the applicable grace period with respect thereto, if any) with respect to any such Indebtedness, or (B) default (after giving effect to any applicable grace period) in the observance or performance of any covenant or agreement relating to such Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event or condition shall occur or condition exist, the effect of which default or other event or condition under (A) or (B) above is to cause, or permit, the holder or holders of such Indebtedness (or trustee or agent on behalf of such holders) to cause any such Indebtedness to become due prior to its stated maturity; or (ii) any such Indebtedness shall be declared due and payable, or required to be prepaid other than by a regularly scheduled required prepayment or mandatory redemption, prior to the stated maturity thereof; or (iii) any such Indebtedness matures and is not paid at maturity.

  • Other Defaults Under Credit Documents Any Credit Party shall default in the performance of or compliance with any term contained herein or any of the other Credit Documents, other than any such term referred to in any other Section of this Section 8.1, and such default shall not have been remedied or waived within thirty days after the earlier of (i) an officer of such Credit Party becoming aware of such default or (ii) receipt by Borrower of notice from Administrative Agent or any Lender of such default; or

  • Waiver of Servicer Events of Default The Holders representing at least 66% of the Voting Rights evidenced by all Classes of Certificates affected by any default or Servicer Event of Default hereunder may waive such default or Servicer Event of Default; provided, however, that a default or Servicer Event of Default under clause (i) or (vii) of Section 7.01 may be waived only by all of the Holders of the Regular Certificates. Upon any such waiver of a default or Servicer Event of Default, such default or Servicer Event of Default shall cease to exist and shall be deemed to have been remedied for every purpose hereunder. No such waiver shall extend to any subsequent or other default or Servicer Event of Default or impair any right consequent thereon except to the extent expressly so waived.

  • Waiver of Defaults and Events of Default (a) The Noteholders of at least a majority of the Note Balance of the Controlling Class may waive any Default or Event of Default and its consequences except an Event of Default (i) in the payment of principal of or interest on any of the Notes (other than an Event of Default relating to failure to pay principal due only by reason of acceleration) or (ii) in respect of a covenant or provision of this Indenture that cannot be amended, supplemented or modified without the consent of all Noteholders. (b) Upon any such waiver, such Default or Event of Default will be deemed not to have occurred for every purpose of this Indenture. No such waiver will extend to any other Default or Event of Default or impair any right relating to any other Default or Event of Default.