Investigation of default Clause Samples

The 'Investigation of default' clause establishes the right and process for one party to investigate whether the other party has failed to meet its contractual obligations. Typically, this clause allows the non-defaulting party to request information, conduct audits, or otherwise verify if a default has occurred, often within a specified timeframe and according to agreed procedures. Its core practical function is to ensure transparency and due diligence before any enforcement actions are taken, thereby reducing the risk of wrongful accusations and supporting fair resolution of potential breaches.
Investigation of default. If the Bank reasonably believes that an Event of Default is, or may be, continuing, the Bank may appoint a person to investigate this. Each Borrower agrees to cooperate with the person and comply with every reasonable request they make. If there is or was an Event of Default, the Borrowers agree to pay all Costs in connection with the investigation.
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Investigation of default. If we reasonably believe that a default is, or may be, continuing, we may:
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Investigation of default. If Fortrend Securities reasonably believes that a Termination Event is, or may be, continuing, Fortrend Securities may appoint a person to investigate this. The Company agrees to co-operate with the person and comply with every reasonable request they make. If there is or was a Termination Event, the Company agrees to pay all Costs in connection with the investigation.
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Investigation of default. If the Mortgagee reasonably believes that an Event of Default is, or may be, continuing the Mortgagee may appoint a person to investigate this. The Mortgagor agrees to co-operate with the person and comply with every reasonable request they make. If there is or was an Event of Default, the Mortgagor agrees to pay the Mortgagee all costs in connection with the investigation.
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Investigation of default. If an Event of Default is continuing or the Secured Party reasonably suspects that an Event of Default is continuing or may occur, the Secured Party may appoint at the cost of the Grantors an accountant, lawyer, valuer or other expert (“Investigators”) to investigate and report on those circumstances, the viability of any business of a Grantor and the value of any of its assets. For the purposes of this clause 9.8, the Grantors must grant free access to the Investigators at all reasonable times and on reasonable notice to the premises, assets, books, accounts and records of a Grantor.
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Related to Investigation of default

  • Notification of default Each Borrower will notify the Agent as soon as that Borrower becomes aware of: (a) the occurrence of an Event of Default or a Potential Event of Default; or (b) any matter which indicates that an Event of Default or a Potential Event of Default may have occurred, and will keep the Agent fully up-to-date with all developments.

  • Termination of Default An Event of Default shall be deemed to have been terminated upon the earliest to occur of: 13.7.1. The date the Representative and the Company enter into a settlement of all claims; or 13.7.2. If an Acceleration has not been authorized by the Holders, the date the Company has paid (i) to the Holders, all payments due through such date; and (ii) to the Representative, all the fees and expenses described in section 12.3.2(f); or 13.7.3. If an Acceleration has been authorized by the Holders, the date the Company has paid (i) to the Holders all payments due through such date; and (ii) to the Representative, all the expenses described in section 12.3.2(f); but only if a Majority agrees to annul the demand for Acceleration.

  • Notification of Defaults and Events of Default Each Lender hereby agrees that, upon learning of the existence of a Default or an Event of Default, it shall promptly notify the Administrative Agent thereof. The Administrative Agent hereby agrees that upon receipt of any notice under this §14.10 it shall promptly notify the other Lenders of the existence of such Default or Event of Default.

  • Investigation of Breach If the Seller (i) has knowledge of a breach of a representation or warranty made in Section 3.4, (ii) receives notice from the Depositor, the Trust, the Owner Trustee or the Indenture Trustee of a breach of a representation or warranty made in Section 3.4, (iii) receives a written request to repurchase a Receivable due to an alleged breach of a representation and warranty in Section 3.4 from the Owner Trustee, the Indenture Trustee, any Verified Note Owner or any Noteholder (which repurchase request shall provide sufficient detail so as to allow the Seller to reasonably investigate the alleged breach of the representations and warranties in Section 3.4; provided, that with respect to a repurchase request from a Noteholder or a Verified Note Owner, such repurchase request shall initially be provided to the Indenture Trustee) for a Receivable (each, a “Repurchase Request”) or (iv) receives a final report from the Asset Representations Reviewer that indicates that the Asset Representations Reviewer has determined that a test procedure under the Asset Representations Review Agreement has not been satisfied with respect to a representation or warranty set forth in Section 3.4 for a Receivable, then, in each case, the Seller will investigate the Receivable to confirm the breach and determine if the breach materially and adversely affects the interests of the Purchaser, the Issuer or the Noteholders in any Receivable. None of the Servicer, the Issuer, the Owner Trustee, the Indenture Trustee, the Asset Representations Reviewer or the Administrator will have an obligation to investigate whether a breach of any representation or warranty has occurred or whether any Receivable is required to be repurchased under this Section 3.5.

  • Consequences of Events of Default and Corrective Action If an Event of Default occurs, the Province may, at any time, take one or more of the following actions: (a) initiate any action the Province considers necessary in order to facilitate the successful continuation or completion of the Project; (b) provide the Recipient with an opportunity to remedy the Event of Default; (c) suspend the payment of Funds for such period as the Province determines appropriate; (d) reduce the amount of the Funds; (e) cancel further instalments of Funds; (f) demand from the Recipient the payment of any Funds remaining in the possession or under the control of the Recipient; (g) demand from the Recipient the payment of an amount equal to any Funds the Recipient used, but did not use in accordance with the Agreement; (h) demand from the Recipient the payment of an amount equal to any Funds the Province provided to the Recipient; and (i) terminate the Agreement at any time, including immediately, without liability, penalty or costs to the Province upon giving Notice to the Recipient.