Failure to Pay or Borrow on Certain Dates Clause Samples

The 'Failure to Pay or Borrow on Certain Dates' clause defines the consequences and procedures if a party does not make a required payment or fails to borrow funds as scheduled under the agreement. Typically, this clause outlines what constitutes a failure, the grace periods (if any), and the remedies available to the non-defaulting party, such as the right to accelerate repayment or impose penalties. Its core function is to ensure timely performance of financial obligations and to provide a clear framework for addressing missed payments or borrowings, thereby reducing uncertainty and managing risk for both parties.
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Failure to Pay or Borrow on Certain Dates. If any payment of a Eurodollar Rate Advance occurs on a date which is not the last day of the applicable Interest Period, whether because of acceleration, prepayment or otherwise, or a Eurodollar Rate Advance is not made on the date specified by the Company for any reason other than default by the Banks, the Company will indemnify each Bank for any loss or cost incurred by it resulting therefrom, including, without limitation, any loss or cost in liquidating or employing deposits acquired to fund or maintain the Eurodollar Rate Advance.
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Failure to Pay or Borrow on Certain Dates. If any payment of a Fixed Rate Advance occurs on a date that is not the last day of the applicable Interest Period, or a Fixed Rate Advance is not made on the date specified by the Company for any reason other than default by the Banks, the Company will indemnify each Bank for any loss or cost incurred by it resulting therefrom, including, without limitation, any loss or cost (exclusive of any loss of profit) in liquidating or employing deposits acquired to fund or maintain such Fixed Rate Advance.
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Failure to Pay or Borrow on Certain Dates. If (i) any payment of a LIBOR Borrowing occurs on a date which is not the last day of an applicable Interest Period, or (ii) a LIBOR Borrowing is not made on the date specified in a Borrowing and Rate Selection Notice for any reason other than default by Lender, Borrower will indemnify Lender for any loss, costs or penalties reasonably incurred by it resulting therefrom, including, without limitation, any prepayment costs or penalties or loss in liquidating or employing deposits acquired or required to fund or maintain the LIBOR Borrowing.
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Failure to Pay or Borrow on Certain Dates. If, whether by ----------------------------------------- payment or by acceleration of the Maturity Date or otherwise, (i) any payment, in full or in part, of a Borrowing occurs on a date which is not the last day of the applicable Interest Period, or (ii) a Borrowing is not made on the date specified in a Borrowing Notice for any reason, the Borrower will indemnify each of the Lenders for any losses and costs incurred by it resulting therefrom, including, without limitation, any loss in liquidating or employing deposits acquired to fund or maintain a Borrowing.
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Failure to Pay or Borrow on Certain Dates. If any payment of a Fixed Rate Advance occurs on a date which is not the last day of the applicable Eurodollar Interest Period, whether because of acceleration, prepayment or otherwise, or a Fixed Rate Advance is not made on the date specified by the Maker for any reason other than a default by the Payee, the Maker will indemnify the Payee for any loss or cost incurred by Payee resulting therefrom, including, without limitation, any loss or cost in liquidating or employing deposits acquired to fund or maintain the Fixed Rate Advance.
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Failure to Pay or Borrow on Certain Dates. If, whether by ----------------------------------------- prepayment or by acceleration of the Maturity Date or otherwise, any payment, in full or in part, of the principal amount of a LIBOR Borrowing occurs on a date which is not the last day of the applicable Interest Period, the Borrower will indemnify the Lender, and any affected participant of the Loan, for any losses and costs incurred by it resulting therefrom, including, without limitation, any loss in liquidating or employing deposits acquired to fund or maintain a LIBOR Borrowing, as calculated as provided in Section 2.14 hereof.
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Failure to Pay or Borrow on Certain Dates. If (i) any payment or interest rate conversion of a Fixed Rate Loan occurs on a date which is not the last day of an Interest Period, or (ii) a Fixed Rate Loan is not made on the date specified in a Borrowing Notice, Bid Quote Request or Rate Selection Notice for any reason other than default by the Banks, the Company will indemnify each Bank for any loss or cost incurred by it resulting therefrom, including, without limitation, any loss or cost in liquidating or employing deposits acquired to fund or maintain the Fixed Rate Loan, but excluding loss of anticipated profit for the period after such payment or conversion.
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Related to Failure to Pay or Borrow on Certain Dates

  • Alternative Calculations and Payment on Early Termination and on Certain Extraordinary Events If (a) an Early Termination Date (whether as a result of an Event of Default or a Termination Event) occurs or is designated with respect to the Transaction or (b) the Transaction is cancelled or terminated upon the occurrence of an Extraordinary Event (except as a result of (i) a Nationalization, Insolvency or Merger Event in which the consideration to be paid to holders of Shares consists solely of cash, (ii) a Merger Event or Tender Offer that is within Counterparty’s control, or (iii) an Event of Default in which Counterparty is the Defaulting Party or a Termination Event in which Counterparty is the Affected Party other than an Event of Default of the type described in Section 5(a)(iii), (v), (vi), (vii) or (viii) of the Agreement or a Termination Event of the type described in Section 5(b) of the Agreement, in each case that resulted from an event or events outside Counterparty’s control), and if Dealer would owe any amount to Counterparty pursuant to Section 6(d)(ii) of the Agreement or any Cancellation Amount pursuant to Article 12 of the Equity Definitions (any such amount, a “Payment Obligation”), then Dealer shall satisfy the Payment Obligation by the Share Termination Alternative (as defined below), unless (a) Counterparty gives irrevocable telephonic notice to Dealer, confirmed in writing within one Scheduled Trading Day, no later than 12:00 p.m. (New York City time) on the Merger Date, Tender Offer Date, Announcement Date (in the case of a Nationalization, Insolvency or Delisting), Early Termination Date or date of cancellation, as applicable, of its election that the Share Termination Alternative shall not apply, (b) Counterparty remakes the representation set forth in Section 8(f) as of the date of such election and (c) Dealer agrees, in its sole discretion, to such election, in which case the provisions of Section 12.7 or Section 12.9 of the Equity Definitions, or the provisions of Section 6(d)(ii) of the Agreement, as the case may be, shall apply.

  • Absence of Events of Default Except for matters described in the SEC Documents and/or this Agreement, no Event of Default, as defined in the respective agreement to which the Company is a party, and no event which, with the giving of notice or the passage of time or both, would become an Event of Default (as so defined), has occurred and is continuing, which would have a Material Adverse Effect on the Company's business, properties, prospects, financial condition or results of operations.

  • Liquidity Events of Default If (a) any Liquidity Event of Default has occurred and is continuing and (b) there is a Performing Note Deficiency, the Liquidity Provider may, in its discretion, deliver to the Borrower a Termination Notice, the effect of which shall be to cause (i) the obligation of the Liquidity Provider to make Advances hereunder to expire on the fifth Business Day after the date on which such Termination Notice is received by the Borrower, (ii) the Borrower to promptly request, and the Liquidity Provider to promptly make, a Final Advance in accordance with Section 2.02(d) hereof and Section 3.5(i) of the Intercreditor Agreement, (iii) all other outstanding Advances to be automatically converted into Final Advances for purposes of determining the Applicable Liquidity Rate for interest payable thereon, and (iv) subject to Sections 2.07 and 2.09 hereof, all Advances (including, without limitation, any Provider Advance and Applied Provider Advance), any accrued interest thereon and any other amounts outstanding hereunder to become immediately due and payable to the Liquidity Provider.

  • Default on Indebtedness Failure of Borrower to make any payment when due on the Loans.

  • No Variable Rate Transactions The Company shall not effect or enter into an agreement to effect any issuance by the Company or any of its Subsidiaries of Common Stock or Common Stock Equivalents (or a combination of units thereof) involving a Variable Rate Transaction, other than in connection with an Exempt Issuance. The Investor shall be entitled to seek injunctive relief against the Company and its Subsidiaries to preclude any such issuance, which remedy shall be in addition to any right to collect damages, without the necessity of showing economic loss and without any bond or other security being required.