Events of Default by Licensee Clause Samples

Events of Default by Licensee. Any of the following will constitute an event of default by Licensee under this Master License and any Pole Licenses issued under it:
View SourceView Similar (8)
Events of Default by Licensee. Licensee shall be in default under this Agreement if, after 10 calendar days written notice from the County, Licensee fails to remedy, or to commence remediation if the remedy cannot reasonably be completed within 10 days, any of the following occurrences: 14.3.1 Licensee's failure to comply with a material provision of this Agreement, including but not limited to a failure to pay any fee or other amount due under this Agreement within 10 business days after it is due, or any different period expressly provided by this Agreement or by applicable law; or 14.3.2 To the extent permitted by the United States Bankruptcy Code: 14.3.2.1 Licensee's insolvency; 14.3.2.2 An assignment by Licensee for the benefit of creditors; 14.3.2.3 Licensee's filing of a voluntary petition in bankruptcy; 14.3.2.4 An adjudication that Licensee is bankrupt; 14.3.2.5 The appointment of a receiver with respect to Licensee's property, and the receiver is not discharged within 30 calendar days; 14.3.2.6 The filing of an involuntary petition of bankruptcy and Licensee's failure to secure a dismissal of the petition within 30 calendar days after filing; 14.3.2.7 Attachment of or the levying of execution on any interest in this Agreement and Licensee's failure to secure discharge of the attachment or release of the levy of execution within 10 calendar days; 14.3.2.8 Licensee becomes a corporation in dissolution or voluntarily or involuntarily forfeits its corporate charter; or 14.3.3 Licensee's failure to comply with all applicable federal, state, and local laws and rules, including but not limited to County ordinances and reasonable rules established by the Airport Director, for more than 30 calendar days after Licensee's receipt of written notice of the failure, or a reasonable longer period if Licensee promptly undertakes and works diligently toward effecting a cure of the breach; or 14.3.4 Licensee's failure to timely commence operating a rental car concession in its Operating Area; or 14.3.5 Licensee's abandonment of rental car concession operations in all or any part of its Operating Area; or 14.3.6 The creation, maintenance, failure to correct or sufferance of a dangerous or hazardous condition on or emanating from its Operating Area; or 14.3.7 Failure to provide and maintain current, all required types and amounts of insurance and proof thereof; or 14.3.8 Loss or surrender by Licensee of its franchise rights under its national system license. 14.3.9 Making an assignment, conveyanc...
View SourceView Similar (7)
Events of Default by Licensee. For purposes of this Agreement, a failure to perform any covenant or condition of this Agreement or the PPA on the part of Licensee to be performed or a breach of a representation or warranty by Licensee hereunder or under the PPA shall be deemed an “Event of Default by Licensee” when not cured within the applicable grace period provided for in this Agreement or the PPA.
View SourceView Similar (4)
Events of Default by Licensee. Failure by Licensee to observe or comply with any covenant, agreement or obligation of Licensee contained in this Agreement or in the Management Agreement and the continuation of such failure for a period of thirty (30) days after written notice thereof from Licensor to Licensee specifying the nature of such failure shall constitute Licensee’s breach of and default under this Agreement (a “Licensee Default”); provided however, if the nature of the obligation is such that more than 30 days are required for its performance, Licensee shall not be deemed to be in default if it commences the cure within such 30 day period and thereafter diligently prosecutes the same to completion and completes the cure within no more than 90 days following written notice from Licensor.
View Source
Events of Default by Licensee. Any of the following will constitute an event of default by Licensee under this Master License, if such failure is in relation to the Master License as a whole or any individual Site License(s) issued under it, if such failure is in connection solely with such Site License: (1) Licensee fails to pay any sums due to the City within thirty (30) days after notice from the City; (2) Licensee fails to perform or comply with any other obligation or representation made under this Master License or any Site License, if the failure continues for forty-five (45) days after the date of notice from the City, or, if such default is not capable of cure within the 45-day period, Licensee fails to commence to cure within such 45-day period and thereafter fails to diligently complete such cure within a commercially reasonable time period after the City’s notice; or (3) for a failure in connection solely with the applicable Site License, Licensee removes its Equipment or abandons the License Area for a continuous period of more than sixty (60) days, such that the License Area is no longer being used for the Permitted Use; or (4) any of the following occurs: (i) the appointment of a receiver due to Licensee’s insolvency to take possession of all or substantially all of the assets of Licensee; (ii) an assignment by Licensee for the benefit of creditors; or (iii) any action taken by or against Licensee under any insolvency, bankruptcy, reorganization, moratorium, or other debtor relief Laws, if any such receiver, assignment, or action is not released, discharged, dismissed, or vacated within sixty (60) days.
View Source
Events of Default by Licensee. The following shall, after the expiration of the applicable cure periods, constitute Events of Default by Licensee: (i) if the broadcast of Brokered Programming on the Stations is preempted, suspended, cancelled or otherwise disrupted through actions of Licensee, other than pursuant to Sections 3(d), 4(a), or 6(a); (ii) if Broker is prevented from exercising its rights pursuant to Section 3(b) to use the Studios, Sites or Broadcast Equipment; (iii) the default by Licensee in the observance or performance of any covenant, condition or agreement contained herein; (iv) if any material representation or warranty herein made by Licensee, or in any certificate or document furnished by Licensee to Broker pursuant to the provisions hereof, shall prove to have been false or misleading in any material respect as of the time made or furnished.
View Source
Events of Default by Licensee. Any of the following will constitute an event of default by Licensee under this Master License and any Pole Licenses issued under it: (1) Licensee fails to pay any sums due to the City within 10 days after notice from the City; (2) Licensee fails to perform or comply with any other obligation or representation made under this Master License, if the failure continues for 30 days after the date of notice from the City, or, if such default is not capable of cure within the 30-day period, Licensee fails to promptly undertake action to cure such default within such 30-day period and thereafter fails to use its best efforts to complete such cure within 60 days after the City’s notice; (3) Licensee removes its Equipment or abandons the License Area for a continuous period of more than 60 days, such that the License Area is longer being used for the Permitted Use; or
View Source
Events of Default by Licensee. { TC “Events of Default by Licensee” \f C \l “2” }. Any of the following will be an event of default by Licensee under this Master License and any Pole Licenses issued under it: 18.1.1 Nonpayment of Fees{ TC “Nonpayment of Fees” \f C \l “3” }. Subject to Subsection 18.1.2 (Habitual Late Payer), Licensee fails to pay any License Fee or Additional Fees as and when due, if the failure continues for 10 days after the due date.
View Source

Related to Events of Default by Licensee

  • Events of Default Any of the following shall constitute an Event of Default:

  • No Events of Default No Event of Default has occurred and is continuing nor has any event occurred which, with the giving of notice or the passage of time, or both, would constitute an Event of Default.

  • Events of Defaults If one or more of the following events (“Events of Default”) shall have occurred and be continuing: (a) any Borrower shall fail (i) to pay any principal of any Loan, Swingline Loan or Reimbursement Obligation when due or (ii) to pay any interest on any Loan, Swingline Loan or Reimbursement Obligation, any fees or any other amount payable hereunder within two Domestic Business Days after the due date thereof; (b) the Company shall fail to observe or perform any covenant contained in Section 5.03 (as it relates to maintenance of existence) and Section 5.06 to Section 5.21, inclusive; (c) any Obligor shall fail to observe or perform any covenant or agreement contained in this Agreement (other than those covered by clause (a) or (b) above) or any other Loan Document for 30 days after written notice thereof has been given to the Company by the Administrative Agent at the request of any Requesting Banks; (d) any representation, warranty, certification or statement made (or deemed made) by any Obligor in any Loan Document or in any certificate, financial statement or other document delivered pursuant to any Loan Document shall prove to have been incorrect in any material respect when made (or deemed made); (e) the Company and/or any of its Subsidiaries shall fail to pay, when due or within any applicable grace period, any amount payable in respect of any Material Debt; (f) any event or condition shall occur which results in the acceleration of the maturity of any Material Debt or enables the holder of such Debt or any Person acting on such holder’s behalf to accelerate the maturity thereof; (g) any of the Company or one or more Subsidiaries (unless such Subsidiaries are Immaterial Subsidiaries) shall commence a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of it or any of its assets, or shall consent to any such relief or to the appointment of any such official or to any such official taking possession of any of its assets, or shall make a general assignment for the benefit of creditors, or shall state that it is unable to pay its debts generally as they become due, or shall take any corporate action to authorize any of the foregoing; (h) an involuntary case or other proceeding shall be commenced against the Company or one or more Subsidiaries (unless such Subsidiaries constitute Immaterial Subsidiaries), in each case seeking liquidation, reorganization or other relief with respect to it or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of it or any of its assets, and such involuntary case or other proceeding shall remain undismissed and unstayed for a period of 60 days; or an order for relief shall be entered against the Company or any Subsidiary under the federal bankruptcy laws as now or hereafter in effect; (i) any member of the ERISA Group shall fail to pay when due an amount or amounts aggregating in excess of $10,000,000 which it shall have become liable to pay under Title IV of ERISA; or notice of intent to terminate a Material Plan (except for any termination under Section 4041(b) of ERISA) shall be filed under Title IV of ERISA by any member of the ERISA Group, any plan administrator or any combination of the foregoing; or the PBGC shall institute proceedings under Title IV of ERISA to terminate, to impose liability (other than for premiums under Section 4007 of ERISA) in respect of, or to cause a trustee to be appointed to administer, any Material Plan; or a condition shall exist by reason of which the PBGC would be entitled to obtain a decree adjudicating that any Material Plan must be terminated; or there shall occur a complete or partial withdrawal from, or a default, within the meaning of Section 4219(c)(5) of ERISA, with respect to, one or more Multiemployer Plans which could cause one or more members of the ERISA Group to incur a current payment obligation in excess of $10,000,000; (j) a judgment or order for the payment of money in excess of $10,000,000 shall be rendered against the Company or any Subsidiary and such judgment or order shall continue unsatisfied and unstayed for a period of 10 days; (k) any person or group of persons (within the meaning of Section 13 or 14 of the Exchange Act) shall have acquired beneficial ownership (within the meaning of Rule 13d-3 promulgated by the SEC under said Act) of 20% or more of the outstanding shares of common stock of the Company; or Continuing Directors shall cease to constitute a majority of the board of directors of the Company; (l) the Guarantee granted by any Subsidiary Guarantor pursuant to the Guarantee Agreement or the Guarantee granted by the Company pursuant to Article 10 hereof shall cease for any reason to be in full force and effect (other than a result of the release of such Guarantee with respect to any Subsidiary Guarantor or the Company, as the case may be, pursuant to the release provisions contained therein), or any Obligor shall so assert in writing; or (i) any Lien created by any Collateral Document shall at any time on or after such Collateral Document has been executed fail to constitute a valid and perfected Lien on all the Collateral purported to be subject thereto, securing the obligations purported to be secured thereby (other than (x) to the extent attributable to the failure of the Administrative Agent to maintain possession of any Collateral possession of which is necessary in order to perfect such Lien or (y) a result of the release of such Lien with respect to any Collateral pursuant to the release provisions contained in the relevant Collateral Document or as a result of the satisfaction of the Investment Grade Condition) or (ii) any Obligor shall so assert in writing; then, and in every such event, the Administrative Agent shall (i) if requested by Banks having more than 50% in aggregate amount of the Commitments, by notice to the Company terminate the Commitments and the Swingline Commitment and they shall thereupon terminate, and (ii) if requested by Banks holding more than 50% in aggregate principal amount of the Loans, by notice to the Company declare the Loans and Swingline Loans (together with accrued interest thereon) to be, and the Loans and Swingline Loans (together with accrued interest thereon) shall thereupon become, immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by each Borrower; provided that if any Event of Default specified in clause (g) or (h) above occurs with respect to any Borrower, then without any notice to any Borrower or any other act by the Administrative Agent or the Banks, the Commitments and the Swingline Commitment shall thereupon terminate and the Loans and Swingline Loans (together with accrued interest thereon) shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by each Borrower.

  • 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.