Lenders Remedies in Event of Default Sample Clauses

Lenders Remedies in Event of Default. REMEDIES CONFERRED UPON LENDER ------------------------------ (a) Upon the occurrence of an Event of Default under Section 11.1(i), the Note shall immediately and automatically become due and payable in full without notice, presentment, demand, protest or other action of any kind, all of which Borrower hereby expressly waives, and Lender shall, in addition to the foregoing and all other remedies conferred upon Lender by law and by the terms of the Note, the Mortgage and the other Loan Documents, have the right, but not the obligation, to pursue one or more of the remedies set forth in Section 12.1(b), concurrently or successively, it being the intent hereof that all of such remedies shall be cumulative and that no such remedy shall be to the exclusion of any other. (b) Upon the occurrence of any Event of Default, Lender shall, in addition to all other remedies conferred upon Lender by law and by the terms of the Note, the Mortgages and the other Loan Documents, have the right but not the obligation to pursue any one or more of the following remedies, concurrently or successively, it being the intent hereof that all such remedies shall be cumulative and that no such remedy shall be to the exclusion of any other: (i) Withhold further disbursement of the proceeds of the Loan (if any); (ii) Declare the Note to be immediately due and payable; (iii) Use and apply any monies deposited by Borrower with Lender, regardless of the purpose for which the same was deposited, to cure any default or to apply on account of any indebtedness under this Agreement which is due and owing to Lender; and (iv) Exercise or pursue any other right or remedy permitted under this Agreement or any of the other Loan Documents or conferred upon Lender by operation of Law. NON-WAIVER OF REMEDIES ---------------------- 12.2 No waiver of any breach or default of any provision of this Agreement or any other Loan Document shall constitute or be construed as a waiver by Lender of any subsequent or prior breach or default or of any breach or default of any other provision of this Agreement or such other Loan Document.
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Lenders Remedies in Event of Default. 9.1 Upon any Event of Default, subject only to any notice requirement and grace period expressly provided in the Note or other Loan Documents, Lender shall be entitled to all of its rights or remedies hereunder, at law or in equity and under the Note, any other Loan Documents, including, without limitation, the right to declare the outstanding principal balance of the Note, the accrued interest thereon, and all other obligations of Borrower to Lender under this Agreement or otherwise to be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, anything in this Agreement or in the Note to the contrary notwithstanding, and Lender's obligation to make any additional Advances hereunder shall be permanently terminated.
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Lenders Remedies in Event of Default. 31 14.1 Remedies Conferred Upon Lender.......................................31 ARTICLE 15
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Lenders Remedies in Event of Default. The Lender shall not be obligated to make any advance if there shall exist any event of default as defined in Paragraph 10 hereof or if, in the reasonable opinion of the Lender, the sums remaining to be advanced hereunder together with other funds made available by the Borrower shall be insufficient for the payment of all expenses incurred or which may be incurred for the completion of the Project, or if there shall have been any material adverse change in the credit or financial standing of the Borrower. The Lender may at any time or times, after an event of default, declare the unpaid principal of and accrued interest on the Note to be immediately due and payable, whereupon the same shall become due and payable without any notice or demand. In addition to all other rights it shall have, including, without limitation, any and all rights under the Basic Instruments, the Lender may at any time or times thereafter take immediate possession of the Premises and in its discretion may thereupon proceed to complete the Project or to take any other actions with respect thereto. All materials at that time on or near the Premises which are the property of the Borrower shall become the property of the Lender, without payment therefor, to be used in said completion, and the Lender is authorized to charge all money expended for said completion against any payments not already advanced; and the Borrower agrees to pay the Lender all sums expended in good faith by the Lender in said completion, even if the same shall be more than the amount agreed to be advanced, together with such additional sums as shall reasonably compensate the Lender for the time and effort the Lender and its employees shall have expended in connection therewith. The foregoing shall be deemed to authorize, but not obligate in any event, the Lender to do all such things in connection with the completion of the Project as it, in its sole discretion, may deem advisable, including, without limitation, the right to make any payments with respect to any obligation of the Borrower hereunder to the Lender or any other person in connection with the construction to be performed hereunder, to make additions and changes in the Plans and Specifications, to employ contractors, subcontractors and agents and to take any and all such action which is commercially reasonable with respect to the completion of the Project, either in its own name or in the name of the Borrower, and the Borrower hereby grants the Lender an...
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Lenders Remedies in Event of Default. 18.1 Remedies Conferred Upon Lenders * 18.2 Non-Waiver of Remedies * ARTICLE 19 GENERAL PROVISIONS * 19.1 Captions * 19.2 Merger * 19.3 Modification of Agreement * 19.4 Notices * 19.5 Expenses; Indemnification *
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Lenders Remedies in Event of Default. 35 1.1 Remedies Conferred Upon Lender. 35 1.2 Subordination. 36 1.3 Distributions. 37 1.1 Captions. 37 1.2 Modification; Waiver. 37 1.3 Authorized Representative. 37 1.4 Governing Law. 37 1.5 Acquiescence Not to Constitute Waiver of ▇▇▇▇▇▇’s Requirements. 38 1.6 Disclaimer by ▇▇▇▇▇▇. 38 1.7 Partial Invalidity; Severability. 38 1.8 Definitions Include Amendments. 38 1.9 Execution in Counterparts. 38 1.10 Entire Agreement. 38 1.11 Waiver of Damages. 39 1.12 Claims Against Lender. 39 1.13 Jurisdiction. 39 1.14 SET-OFFS. 39 1.15 ▇▇▇▇▇▇’s Consent. 40 1.16 Notices. 40 1.17 Waiver of Jury Trial. 41
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Lenders Remedies in Event of Default 
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Related to Lenders Remedies in Event of Default

  • Event of Default Remedies 8.1 Any one or more of the following acts or omissions of the Contractor shall constitute an event of default hereunder (“Event of Default”): 8.1.1 failure to perform the Services satisfactorily or on schedule; 8.1.2 failure to submit any report required hereunder; and/or 8.1.3 failure to perform any other covenant, term or condition of this Agreement. 8.2 Upon the occurrence of any Event of Default, the State may take any one, or more, or all, of the following actions: 8.2.1 give the Contractor a written notice specifying the Event of Default and requiring it to be remedied within, in the absence of a greater or lesser specification of time, thirty (30) days from the date of the notice; and if the Event of Default is not timely cured, terminate this Agreement, effective two (2) days after giving the Contractor notice of termination; 8.2.2 give the Contractor a written notice specifying the Event of Default and suspending all payments to be made under this Agreement and ordering that the portion of the contract price which would otherwise accrue to the Contractor during the period from the date of such notice until such time as the State determines that the Contractor has cured the Event of Default shall never be paid to the Contractor; 8.2.3 give the Contractor a written notice specifying the Event of Default and set off against any other obligations the State may owe to the Contractor any damages the State suffers by reason of any Event of Default; and/or 8.2.4 give the Contractor a written notice specifying the Event of Default, treat the Agreement as breached, terminate the Agreement and pursue any of its remedies at law or in equity, or both.

  • Events of Default Remedies on Default Events of Default . Each of the following shall be an "Event of Default" if it occurs for any reason whatsoever, whether voluntary or involuntary, by operation of law or otherwise: (a) Borrowers (or any other Obligor, if applicable) fail to pay (i) any principal of any Loan when due (whether at stated maturity, on demand, upon acceleration or otherwise) or (ii) any interest, fee, indemnity or other amount payable under this Agreement or any other Loan Document within 2 Business Days after the date when due; (b) Any representation or warranty of an Obligor made in any Loan Documents or transactions contemplated thereby is incorrect or misleading in any material respect when made or deemed made; (c) Borrowers breach or fail to perform any covenant contained in Section 7.2, 7.3, 9.1.1, 9.

  • REMEDIES IN CASE OF AN EVENT OF DEFAULT If there shall have occurred and be continuing an Event of Default, then and in every such case, the Pledgee shall be entitled to exercise all of the rights, powers and remedies (whether vested in it by this Agreement, any other Secured Debt Agreement or by law) for the protection and enforcement of its rights in respect of the Collateral, and the Pledgee shall be entitled to exercise all the rights and remedies of a secured party under the Uniform Commercial Code as in effect in any relevant jurisdiction and also shall be entitled, without limitation, to exercise the following rights, which each Pledgor hereby agrees to be commercially reasonable: (i) to receive all amounts payable in respect of the Collateral otherwise payable under Section 6 hereof to the Pledgors; (ii) to transfer all or any part of the Collateral into the Pledgee’s name or the name of its nominee or nominees; (iii) to vote all or any part of the Collateral (whether or not transferred into the name of the Pledgee) and give all consents, waivers and ratifications in respect of the Collateral and otherwise act with respect thereto as though it were the outright owner thereof (each Pledgor hereby irrevocably constituting and appointing the Pledgee the proxy and attorney-in-fact of such Pledgor, with full power of substitution to do so); (iv) at any time and from time to time to sell, assign and deliver, or grant options to purchase, all or any part of the Collateral, or any interest therein, at any public or private sale, without demand of performance, advertisement or notice of intention to sell or of the time or place of sale or adjournment thereof or to redeem or otherwise (all of which are hereby waived by each Pledgor), for cash, on credit or for other property, for immediate or future delivery without any assumption of credit risk, and for such price or prices and on such terms as the Pledgee in its absolute discretion may determine, provided that at least 10 days’ written notice of the time and place of any such sale shall be given to the Pledgors. The Pledgee shall not be obligated to make any such sale of Collateral regardless of whether any such notice of sale has theretofore been given. Each Pledgor hereby waives and releases to the fullest extent permitted by law any right or equity of redemption with respect to the Collateral, whether before or after sale hereunder, and all rights, if any, of marshalling the Collateral and any other security for the Obligations or otherwise. At any such sale, unless prohibited by applicable law, the Pledgee on behalf of the Secured Creditors may bid for and purchase all or any part of the Collateral so sold free from any such right or equity of redemption. Neither the Pledgee nor any other Secured Creditor shall be liable for failure to collect or realize upon any or all of the Collateral or for any delay in so doing nor shall any of them be under any obligation to take any action whatsoever with regard thereto; and (v) to set-off any and all Collateral against any and all Obligations.

  • 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 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