No Designation Upon Occurrence of a Default or Event of Default Clause Samples

No Designation Upon Occurrence of a Default or Event of Default. If a Default or Event of Default shall have occurred, then, during the continuance of such Default or Event of Default, Borrower shall have no right to designate the Fixed Rate for any portion of the Loan. If an Event of Default shall have occurred and is continuing, any portion of the Loan bearing interest at the Fixed Rate shall, at the end of the relevant Interest Period, convert to the Default Rate calculated with reference to the Base Rate. If such Default or Event of Default shall subsequently be cured, Borrower may thereafter designate Interest Periods in accordance with this Agreement.
View SourceView Similar (2)
No Designation Upon Occurrence of a Default or Event of Default. If a --------------------------------------------------------------- Default or Event of Default shall have occurred, then during the continuance of such Default or Event of Default Borrower shall have no right to designate
View Source
No Designation Upon Occurrence of a Default or Event of Default. If a Default or Event of Default shall have occurred, then during the continuance of such Default or Event of Default Borrower shall have no right to designate an Interest Period if a previous Interest Period shall expire. If an Interest Period shall expire during the continuance of a Default or Event of Default, the new Interest Period shall automatically be for ninety (90) days. If such Default or Event of Default shall subsequently be cured, Borrower may thereafter designate Interest Periods in accordance with this Agreement.
View Source
No Designation Upon Occurrence of a Default or Event of Default. If a Default or Event of Default shall have occurred, then, during the continuance of such Default or Event of Default, (i) Borrower shall have no right to designate the Fixed Rate for any portion of the Bridge Loan, and (ii) any portion of the Bridge Loan bearing interest at the Fixed Rate shall, at the end of the relevant Interest Period, convert to the Variable Rate. If such Default or Event of Default shall subsequently be cured, Borrower may thereafter designate Interest Periods in accordance with this Agreement.
View Source

Related to No Designation Upon Occurrence of a Default or Event of Default

  • Default or Event of Default Seller shall notify Buyer of the occurrence of any Default or Event of Default with respect to Seller as soon as possible but in no event later than two (2) Business Days after obtaining Knowledge of such event.

  • Notice of Default or Event of Default promptly, and in any event within five days after a Responsible Officer becoming aware of the existence of any Default or Event of Default or that any Person has given any notice or taken any action with respect to a claimed default hereunder or that any Person has given any notice or taken any action with respect to a claimed default of the type referred to in Section 11(f), a written notice specifying the nature and period of existence thereof and what action the Company is taking or proposes to take with respect thereto;

  • No Default or Event of Default No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the Extension of Credit to be made on such date unless such Default or Event of Default shall have been waived in accordance with this Agreement.

  • Occurrence of Default Any Transfer hereunder shall be subordinate and subject to the provisions of this Lease, and if this Lease shall be terminated during the term of any Transfer, Landlord shall have the right to: (i) treat such Transfer as cancelled and repossess the Subject Space by any lawful means, or (ii) require that such Transferee attorn to and recognize Landlord as its landlord under any such Transfer. If Tenant shall be in default under this Lease, Landlord is hereby irrevocably authorized, as Tenant’s agent and attorney-in-fact, to direct any Transferee to make all payments under or in connection with the Transfer directly to Landlord (which Landlord shall apply towards Tenant’s obligations under this Lease) until such default is cured. Such Transferee shall rely on any representation by Landlord that Tenant is in default hereunder, without any need for confirmation thereof by Tenant. Upon any assignment, the assignee shall assume in writing all obligations and covenants of Tenant thereafter to be performed or observed under this Lease. No collection or acceptance of rent by Landlord from any Transferee shall be deemed a waiver of any provision of this Article 14 or the approval of any Transferee or a release of Tenant from any obligation under this Lease, whether theretofore or thereafter accruing. In no event shall Landlord’s enforcement of any provision of this Lease against any Transferee be deemed a waiver of Landlord’s right to enforce any term of this Lease against Tenant or any other person. If Tenant’s obligations hereunder have been guaranteed, Landlord’s consent to any Transfer shall not be effective unless the guarantor also consents to such Transfer.

  • Additional Event of Default The following will constitute an additional Event of Default with respect to Party B: "NOTE ACCELERATION NOTICE. A Note Acceleration Notice is served on Party B in relation to the Relevant Notes."