INDENTURE DEFAULTS AND REMEDIES Sample Clauses

INDENTURE DEFAULTS AND REMEDIES. 16 SECTION 6.01. What Constitutes "Indenture Defaults...............16 SECTION 6.02. Demand for Payment of Guarantees...................16
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INDENTURE DEFAULTS AND REMEDIES. SECTION 6.01. WHAT CONSTITUTES "INDENTURE DEFAULTS." Each of the following events shall constitute an "Indenture Default": (a) Default in the payment of the whole or any part of the interest on any of the Outstanding Obligations when the same shall become due and payable or default in the payment of the whole or any part of the principal of any of the Outstanding Obligations when the same shall become due and payable, whether by reason of Maturity, Redemption, acceleration or otherwise, or any default referred to in Section 6.08, and continuation of any such default for a period of 30 days (herein called a "Payment Default"); and (b) The giving of a Secretary's Notice to the Indenture Trustee. The Indenture Trustee shall give to the Obligees, the Secretary and the Shipowner prompt notice in writing of any Payment Default (unless such default shall have been remedied prior to the giving of such notice), and of the occurrence of any Indenture Default which shall be continuing; PROVIDED THAT, the Indenture Trustee shall have no duty to give any such notice unless and until a Responsible Officer of the Indenture Trustee, who is a Responsible Officer in its Corporate Trust Office, has actual knowledge of such default or Indenture Default. Any such notice of an Indenture Default to the Obligees (i) shall specify the nature of such Indenture Default, (ii) shall state that, by reason thereof, the Indenture Trustee is entitled under the Indenture to demand payment by the Secretary of the Guarantees, (iii) shall set forth the provisions of Section 6.04(b)(3) and (5), and (iv) shall advise the Obligees of the provisions of Section 6.02.
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INDENTURE DEFAULTS AND REMEDIES. Section 6.01. What Constitutes "Indenture Defaults.......................................................11 Section 6.02. Demand for Payment of Guarantees............................................................11
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INDENTURE DEFAULTS AND REMEDIES. SECTION 6.01. What Constitutes “Indenture Defaults” 9 SECTION 6.02. Demand for Payment of Guarantees 10 SECTION 6.03. Appointment of Indenture Trustee and Holders of Outstanding Obligations as Attorneys-in-Fact 10 SECTION 6.04. Termination and Payment of the Guarantees 10 SECTION 6.05. Rights of Indenture Trustee After Indenture Default 12 SECTION 6.06. Obligees’ Right to Direct Indenture Trustee After Indenture Default 12 SECTION 6.07. Attorney’s Fees and Costs 12 SECTION 6.08. Recision of Payments 12 SECTION 6.09. Assumption of Obligations by Secretary 13 SECTION 7.01. Acceptance of Trusts 13 SECTION 7.02. Eligibility of Indenture Trustee 13 SECTION 7.03. Rights and Duties of Indenture Trustee 14 SECTION 7.04. Compensation, Expenses and Indemnification of Indenture Trustee 16 SECTION 7.05. Resignation and Removal of Indenture Trustee 16 SECTION 7.06. Appointment of Successor Indenture Trustee 16 SECTION 7.07. Effect of Appointment of Successor Indenture Trustee 17 SECTION 7.08. Merger, Consolidation or Sale of Indenture Trustee 17
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INDENTURE DEFAULTS AND REMEDIES. 14 SECTION 6.01. What Constitutes "Indenture Defaults" . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 SECTION 6.02. Demand for Payment of Guarantees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
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INDENTURE DEFAULTS AND REMEDIES 
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Related to INDENTURE DEFAULTS AND REMEDIES

  • Defaults and Remedies Section 6.01.

  • 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

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

  • 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 Rights and Remedies on Default 56 11.1. Events of Default. 56 11.2. Acceleration of the Obligations; Termination of Commitments. 59 11.3. Other Remedies. 60 11.4. Setoff. 61 11.5. Remedies Cumulative; No Waiver. 62 SECTION 12. AGENT 62 12.1. Appointment, Authority and Duties of Agent. 62 12.2. Agreements Regarding Collateral. 64 12.3. Reliance By Agent. 64