Other Uncured Defaults Sample Clauses

Other Uncured Defaults. In the event of any Uncured Default as to any obligation other than an Accrued Condominium Sublessee, and with or without taking possession of such Sublessee’s Condominium, Sublessor may specifically enforce the performance of all such obligations, as the same shall respectively arise or accrue, and Sublessor shall have the right of affirmative injunction relief as well as the right to bring other necessary legal or equitable remedies, except an action for unlawful detainer or similar summary eviction proceeding, to enforce performance of such obligations. In no event shall the voluntary or involuntary relinquishment of possession of its Condominium by a Condominium Sublessee terminate the Condominium Sublease of such Condominium Sublessee, nor relieve such Condominium Sublessee from the payment of any Monthly Maintenance Fees, Supplemental Maintenance Fees, Change in Ownership Fees, Ground Rent or other sums then due and payable from or thereafter accruing with respect to such Condominium Sublessee (until the transfer of the Condominium Sublease of such Sublessee to the purchaser at the foreclosure sale under the subleasehold Deed of Trust or sale in lieu of such foreclosure), or any claim for damages then or thereafter accrued or accruing against such Condominium Sublessee hereunder, nor shall it relieve such Condominium Sublessee from the performance of such Sublessee’s obligations under Section 16.5 below.
View Source

Related to Other Uncured Defaults

  • Specific Defaults The Company fails to perform or observe any term, covenant or agreement contained in any of Section 6.01, 6.02, 6.03 or 6.09(c) or in Article VII; or

  • Existing Defaults No Loan Party is in default in the performance, observance or fulfillment of any of the obligations, contained in any Contractual Obligation applicable to it, and no condition exists which, with or without the giving of notice or the lapse of time, would constitute a default under such Contractual Obligation, except, in any such case, where the consequences, direct or indirect, of such default or defaults, if any, could not reasonably be expected to have a Material Adverse Effect on the Loan Parties, taken as a whole.

  • Other Covenant Defaults If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or agreement contained in this Agreement (other than as set forth in Sections 8.1, 8.2 or 8.4 through 8.11), in any of the other Loan Documents and Borrower has failed to cure such default within fifteen (15) days of the occurrence of such default. During this fifteen (15) day period, the failure to cure the default is not an Event of Default (but no Loan will be made during the cure period).

  • Automatic Defaults If any Event of Default referred to in Section 7.11 hereof shall occur: (a) all of the Commitment shall automatically and immediately terminate, if not previously terminated, and no Lender thereafter shall be under any obligation to grant any further Loan, nor shall the Fronting Lender be obligated to issue any Letter of Credit; and (b) the principal of and interest then outstanding on all of the Loans, and all of the other Obligations, shall thereupon become and thereafter be immediately due and payable in full (if the Obligations are not already due and payable), all without any presentment, demand or notice of any kind, which are hereby waived by each Borrower.

  • Major Default The Purchasers shall be considered to be in “Major Default” in the event that (a) the Purchasers are in breach of their obligations under the Agreement and (b) such breaches, individually or in the aggregate, resulted or would reasonably be expected to result in (i) material Losses to the Sellers or their Affiliates, (ii) material reputational harm to the Sellers or their Affiliates, (iii) material and adverse regulatory consequences to the Sellers or their Affiliates, for which, in each case of clauses (i) through (iii), indemnification by the Purchasers pursuant to Article 8 of the Agreement would not be sufficient to remedy all damages incurred by the Sellers and their Affiliates or (iv) if the Sellers reasonably determine, based on the advice of counsel, that it would reasonably be expected to be a violation of their fiduciary duties under applicable Law to not terminate the Agreement, taking into account the indemnification by the Purchasers pursuant to Article 8 of the Agreement; provided, that the following breaches shall be excluded, and not taken into account, in determining if a Major Default has occurred: (x) any breach to the extent resulting from any action taken by the Purchasers pursuant to and in accordance with written direction given by the Sellers and (y) any breach to the extent arising out of or resulting from, directly or indirectly, a breach by the Sellers of the Agreement, the Transition Services Agreement or the Purchase Agreement.