Defaults Under this Agreement Sample Clauses
The "Defaults Under this Agreement" clause defines what constitutes a default or breach of contract by a party under the agreement. It typically outlines specific actions or failures—such as non-payment, failure to perform obligations, or insolvency—that will be considered defaults. For example, if a party fails to deliver goods or services on time, or does not meet payment deadlines, these actions may trigger the default provisions. The core practical function of this clause is to clearly identify unacceptable conduct and establish the basis for remedies or termination, thereby protecting the parties and ensuring accountability.
Defaults Under this Agreement. Failure by the Borrower to comply with or perform any of the covenants or agreements of the Borrower set forth in Sections 8.1.9, 9 (other than Sections 9.5, 9.7, 9.9 and 9.12 which shall be governed by Section 12.1.5) or 10.
Defaults Under this Agreement. Upon the occurrence of an Event of Default hereunder, or at any time thereafter while such default continues, Lender, in its sole discretion, may do any one or more of the following:
(I) send notice of such Event of Default to the Corporation;
(II) declare the Reimbursement Loan Note, if outstanding, and any and all amounts due and owing under this Agreement or under the other Transaction Documents, to be immediately due and payable;
(III) terminate the Letter of Credit; and
(IV) exercise any rights and remedies available to it by law or under this Agreement, the Security Agreement, any other Transaction Document or any other agreement, document or instrument contemplated hereby.
Defaults Under this Agreement. Failure by such Borrower or Guarantor (or any of its Subsidiaries) to comply with or perform any of the covenants or agreements of such Borrower, Guarantor or any of its Subsidiaries set forth in this Agreement or the other Loan Documents applicable to such Borrower, Guarantor or any of its Subsidiaries (other than those constituting an Event of Default under any of the other provisions of this Section 10) and continuance of such failure for thirty (30) days with respect to such Borrower and ten (10) days with respect to Guarantor, in each case after notice thereof to such Borrower or Guarantor, as the case may be, from the Administrative Agent.
Defaults Under this Agreement. Failure by such Borrower to comply with or perform any of the covenants or agreements of such Borrower set forth in this Agreement or the other Loan Documents applicable to such Borrower (other than those constituting an Event of Default under any of the other provisions of this Section 10) and continuance of such failure for thirty (30) days with respect to such Borrower, in each case after notice thereof to such Borrower, from the Administrative Agent.
Defaults Under this Agreement. Failure by the Borrower or the ----------------------------- Parent to comply with or perform any of the covenants or agreements set forth in Sections 10.1.8, 10.3, 11 and 12. --------------- ---- -- --
Defaults Under this Agreement. In the event of a default of one of the Parties, or any of its subsidiaries, affiliates, employees or legal representatives under this Agreement, other than under Clause 10.2.3, such Party shall be liable to the other Party for any direct damages suffered by it directly as a consequence of such default, excluding indirect or consequential damages.
Defaults Under this Agreement. Failure by the Parent or the Co-Borrowers to comply with or perform any of the covenants or agreements of the Parent or the Co-Borrowers set forth in Sections 10.1, 10.2, 10.3, 10.5, 10.6, 10.7, 10.8, 10.10, 11 and 12.
Defaults Under this Agreement. Upon the occurrence of an Event of Default hereunder, or at any time thereafter while such default continues, the Bank, in its sole discretion, may do any one or more of the following:
(a) if a draw under the Letter of Credit has occurred, declare all amounts due under this Agreement to be immediately due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Corporation; or
(b) exercise any rights and remedies available to it by law or under any other agreement, including without limitation the Pledge Agreement.
Defaults Under this Agreement. Notwithstanding any provision hereof to the contrary, upon the occurrence and during the continuance of an Event of Default hereunder, the Bank, in its sole discretion, may do any or all of the following:
(i) send notice and a request to accelerate to the Trustee under Section 9.01 of the Indenture, whereupon the Trustee shall immediately declare the Bonds to be immediately due and payable and an amount equal to the amount drawn under the Letter of Credit in connection with such declaration shall become immediately due and payable by the Company without presentment, demand, protest or other requirements of any kind, all of which are hereby expressly waived by the Company; and
(ii) in the event that an Event of Default hereunder may be cured by the Bank by the payment of money, the Bank is hereby authorized at any time and from time to time, without notice to the Company (any such notice being expressly waived by the Company), to set off and apply any and all amounts held on deposit in the Cash Collateral Account against any and all of the obligations of the Company now or hereafter existing hereunder, irrespective of whether or not the Bank shall have made any demand hereunder and although such obligations may be contingent and unmatured, and without waiving any other right that the Bank may have against the Company; and
(iii) exercise any rights and remedies available to it by law or under this Agreement, the Mortgage or the Guaranties or any of them or under any other Related Document.
Defaults Under this Agreement. Upon the occurrence of an Event of Default hereunder, or at any time thereafter while such default continues, Lenders, in their sole discretion, may do any one or more of the following:
(i) send notice of such Event of Default to the Corporation;
(ii) declare the Reimbursement Loan Note, if outstanding, and any and all amounts due and owing under this Agreement or under the other Transaction Documents (including all Secured Obligations), as well as the Maximum Credit at that time to be immediately due and payable;
(iii) terminate the Letter of Credit; and
(iv) exercise any rights and remedies available to it by law or under this Agreement, the Security Agreement, any other Transaction Document or any other agreement, document or instrument contemplated hereby.