EVENTS OF DEFAULT AND REMEDY Clause Samples

EVENTS OF DEFAULT AND REMEDY. 7.1 Each Party has obligation to execute the agreement, in the events of default under the Agreement, the default party has to take all the breach obligation for the non-default party. 7.2 Since the date of the agreement been signed by both parties, Seller shall not sell the stocks specified in the agreement to the third party or secondary market without the consent of Buyer, or Buyer has the right to charge the penalty fine of the sum of this transaction of $580,480.87 USD. 7.3 Since the date of the agreement been signed by both parties, Buyer shall not default Or terminate the agreement without the consent of Seller, or Seller has the right to charge the penalty fine of the sum of this transaction of $580,480.87 USD.
View Source
EVENTS OF DEFAULT AND REMEDY. Upon the occurrence of any of the following events to the Borrower, unless remedial action is taken within 90 days to the reasonable satisfaction of the Lender (except an event under sub-clause 11.1 below), the Lender is entitled to cancel the undrawn portion of the Facility and/or declare all Loan(s) and interest accrued thereon under this Agreement to be immediately due and payable on demand of the Lender: 11.1 the Borrower fails to repay principal of any Loan under this Agreement after 5 days of its due date or fails to pay interest under this Agreement after 10 days of its due date; 11.2 any material loss of or damage to the Borrower's major assets or business which will have a Material Adverse Effect; 11.3 the Borrower ceases to carry on its business or threatens to cease to carry on its business; 11.4 substantial change to the scope of the business of the Borrower, as set out in its business licence which will have a Material Adverse Effect; 11.5 any action is taken or legal proceedings are started for the bankruptcy or liquidation of the Borrower except where the Borrower in good faith takes steps to dismiss such action or proceedings; 11.6 any material legal proceedings involving the Borrower or its assets which will have a Material Adverse Effect (except where the Borrower in good faith takes steps to defend such proceedings); 11.7 any representation made by the Borrower in this Agreement is or proves to be incorrect in any material respect when made; or 11.8 the Borrower fails to perform or comply with any covenants in clause 10.2 in any material respect.
View Source
EVENTS OF DEFAULT AND REMEDY. Any failure on the part of Kruger to comply with a material term of this Agreement, after Kruger's receipt of notice of default and the cure period, shall be considered an Event of Default. Upon Kruger's receipt of notice of default, Kruger shall have thirty (30) days to cure the default. After thirty (30) days following receipt of the notice of default if Kruger fails to cure the default, the Trustee shall have the right to bring suit to enforce the Put and to recover any amount then due under this Agreement. If the Trustee fails to bring suit within sixty (60) days of an Event of Default, then the Certificate Holders may ▇▇▇ to enforce the Put and to recover any amount then due under this Agreement.
View Source
EVENTS OF DEFAULT AND REMEDY. Upon the occurrence of any of the following events to Party B, unless remedial action is taken within 90 days to the reasonable satisfaction of Party A (except an event under sub-clause 10.1 below), Party A is entitled to cancel the undrawn portion of the Facilities and/or declare all Loans and interest accrued thereon under this Agreement to be immediately due and payable on demand of Party A:
View Source
EVENTS OF DEFAULT AND REMEDY 
View SourceView Similar (2)

Related to EVENTS OF DEFAULT AND REMEDY

  • Events of Default and Remedies (a) Any one or more of the following events which shall have occurred and be continuing shall constitute an event of default ("Event of Default"): (i) Default in the payment of interest upon this Note, as and when the same shall become due; or (ii) Default in the payment of the principal of this Note, as and when the same shall become due; or (iii) Default in the payment of any other obligation of the Company in an amount in excess of $100,000; or (iv) The Company shall fail to perform or observe any affirmative covenant contained in this Note and such Default, if capable of being remedied, shall not have been remedied ten (10) days after written notice thereof shall have been given by the Holder to the Company; or (v) The Company or any subsidiary (A) shall institute any proceeding or voluntary case seeking to adjudicate it bankrupt or insolvent, or seeking dissolution, liquidation, winding up, reorganization, arrangement, adjustment, protection, relief or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of any order for relief or the appointment of a receiver, trustee, custodian or other similar official for such the Company or any subsidiary or for any substantial part of its property, or shall consent to the commencement against it of such a proceeding or case, or shall file an answer in any such case or proceeding commenced against it consenting to or acquiescing in the commencement of such case or proceeding, or shall consent to or acquiesce in the appointment of such a receiver, trustee, custodian or similar official; (B) shall be unable to pay its debts as such debts become due, or shall admit in writing its inability to apply its debts generally; (C) shall make a general assignment for the benefit of creditors; or (D) shall take any action to authorize or effect any of the actions set forth above in this subsection 3 (iv); or

  • Default and Remedies Either of the following constitutes cause to declare this Contract, or any Participating Entity order under this Contract, in default: 1. Nonperformance of contractual requirements, or 2. A material breach of any term or condition of this Contract. The party claiming default must provide written notice of the default, with 30 calendar days to cure the default. Time allowed for cure will not diminish or eliminate any liability for liquidated or other damages. If the default remains after the opportunity for cure, the non-defaulting party may: • Exercise any remedy provided by law or equity, or • Terminate the Contract or any portion thereof, including any orders issued against the Contract.

  • Events of Default Remedies If any of the following events (each, an “Event of Default”) shall have occurred and be continuing for any reason whatsoever (whether voluntary or involuntary, arising or effected by operation of law or otherwise): (a) any payment of principal of the Loans or the Note shall not be paid when and as due (whether at maturity, by reason of acceleration or otherwise) and in accordance with the terms of this Agreement and the Note; (b) any payment of interest on the Loans or the Note shall not be paid when and as due (whether at maturity, by reason of acceleration or otherwise) and in accordance with the terms of this Agreement and the Note, and such default is not cured within two days; (c) the Borrower shall default in the performance or observance of any other term, covenant or agreement contained herein, and such default shall continue without cure for a period of 30 days after receipt of written notice thereof from the Lender, or any representation or warranty contained herein or therein shall at any time prove to have been incorrect or misleading in any material respect when made; or (d) a case or proceeding shall be commenced against the Borrower, or the Borrower shall commence a voluntary case, in either case seeking relief under any Bankruptcy Law, in each case as now or hereafter in effect, or the Borrower shall apply for, consent to, or fail to contest, the appointment of a receiver, liquidator, custodian, trustee or the like of the Borrower or for all or any part of its property, or the Borrower shall make a general assignment for the benefit of its creditors, or the Borrower shall fail, or admit in writing its inability, to pay, or generally not be paying, its debts as they become due; then during the continuance of any Event of Default (other than any Event of Default specified in clause (d) above), the Lender may by written notice to the Borrower declare, in whole or from time to time in part, the principal of, and accrued interest on, the Loans and the Note and all other amounts owing hereunder to be, and the Loans and the Note and such other amounts shall thereupon and to that extent become, due and payable to the Lender. During the continuance of any Event of Default specified in clause (d) above, automatically and without any notice to the Borrower, the principal of, and accrued interest on, the Loans and the Note and all other amounts payable hereunder shall be due and payable to the Lender and the Commitment shall terminate.

  • Events of Default Rights and Remedies Section 7.1 Events of Default Section 7.2 Rights and Remedies Section 7.3 Certain Notices

  • Performance Default and Remedies Subsection B. DEFAULT AND REMEDIES, second paragraph of the Contract is modified as follows (underlined language is added and stricken language is deleted): “Written notice of default and a reasonable 30-day opportunity to cure must be issued by the party claiming default.”