R emedies Clause Samples
The Remedies clause defines the actions or relief available to a party if the other party breaches the contract. It typically outlines the types of remedies that may be pursued, such as monetary damages, specific performance, or injunctive relief, and may specify any limitations or procedures for seeking these remedies. By clearly stating what recourse is available in the event of a breach, this clause helps ensure that both parties understand their rights and obligations, thereby reducing uncertainty and potential disputes.
R emedies. Upon the occurrence of an Event of Default as defined above, the Lender may declare the entire unpaid principal balance, together with accrued interest thereon, to be immediately due and payable without presentment, demand, protest, or other notice of any kind. Lender may suspend or terminate any obligation it may have hereunder to make additional Advances. To the extent permitted by law, Borrower waives any rights to presentment, demand, protest, or notice of any kind in connection with this Agreement. No failure or delay on the part of the Lender in exercising any right, power, or privilege hereunder will preclude any other or further exercise thereof or the exercise of any other right, power, or privilege. The rights and remedies provided herein are cumulative and not exclusive of any other rights or remedies provided at law or in equity. Borrower agrees to pay all costs of collection incurred by reason of the default, including court costs and reasonable attorney’s fees, whether or not the attorney is a salaried employee of Lender, including such expenses incurred before or after any legal action or Bankruptcy proceeding involving Borrower has commenced, during the pendency of such proceedings, and continuing to all such expenses in connection with any appeal to higher courts arising out of matters associated herewith.
R emedies. Notwithstanding any other Article of this such use or information may violate any laws, regulations, or Agreement, the non-breaching party shall be entitled to seek equitable relief to protect its interests pursuant to this Article 9, including, but not limited to, injunctive relief.
R emedies. All remedies available to Registrant for breach of this Escrow Agreement shall be cumulative and may be exercised concurrently or separately, and the exercise of any one remedy shall not be deemed an election of such remedy to the exclusion of other remedies.
R emedies. Recipient agrees that money damages would not be sufficient remedy for any breach of this Agreement and that the Broker will be irreparably harmed as a result of any such breach and that it shall be entitled to equitable relief, including, without limitation, injunctive relief (including, without limitation, the right to obtain a temporary and/or permanent injunction) and specific performance (without being required to obtain a bond greater than the amount of $500.00 or post other security or prove actual damages), in the event of any breach or threatened breach of any of the provisions of this Agreement by Recipient, in addition to all other rights and remedies available to the Broker, whether at law, in equity or otherwise relating to such breach. The remedies provided in this Section 8 shall be in addition to all remedies available to the Broker at law, in equity or otherwise. All the rights and remedies of the Broker hereunder shall be cumulative and may be exercised concurrently or at different times.
R emedies. If any Event of Default shall have occurred and be continuing, at the option of Holder, all of the Obligations shall become immediately due and payable on notice to the Issuer and Holder may, at its option, proceed to enforce payment of same and to exercise any or all of the rights and remedies contained herein, including, without limitation, the signification and collection of any debts, accounts, claims or monies owed to Debtor. Holder shall have the right to enforce one or more remedies successively or concurrently in accordance with applicable law and Holder expressly retains all rights and remedies not inconsistent with the provisions herein, and, without restricting the generality of the foregoing, Holder may upon such Event of Default:
(a) appoint by instrument in writing a receiver, receiver-manager or receiver and manager (herein a “Receiver”) of the Issuer and of all or any part of the Collateral and remove or replace such Receiver from time to time or may institute proceedings in any court of competent jurisdiction for the appointment of a Receiver. Any Receiver appointed by Holder so far as concerns responsibility for its acts shall be deemed the agent of the Issuer and not of Holder. Where Holder is referred to in this Section the reference includes, where the context permits, any Receiver so appointed and the officers, employees, servants or agents of such Receiver;
(b) retain and administer the Collateral in the Holder’s sole and unfettered discretion, which the Issuer hereby acknowledges is commercially reasonable;
(c) foreclose upon the Collateral in satisfaction of the Obligations;
(d) pay any lien, charge or encumbrance that may exist or be threatened against the Collateral. In any such case the amounts so paid together with costs, charges and expenses incurred in connection therewith shall be added to the Obligations secured by this Agreement;
(e) if the proceeds of realization are insufficient to pay all monetary Obligations, the Issuer shall forthwith pay or cause to be paid to Holder any deficiency and Holder may ▇▇▇ the Issuer to collect the amount of such deficiency;
(f) Holder may charge on its own behalf and pay to others sums for expenses incurred and for services rendered (expressly including legal services, consulting, receivers and accounting fees) in or in connection with seizing, collecting, realizing, borrowing on the security of, selling or obtaining payment of the Collateral and may add such sums to the Obligations secur...
R emedies. Upon the occurrence of any such Event of Potential Default and failure of Recipient to cure such potential default as provided above, Trustee may declare Recipient in default in writing and may, as Trustee determines appropriate, withhold payments to Recipient or require Recipient to return, refund or repay any payments received prior or subsequent to the event of default. In addition, Trustee may terminate this Contract and avail himself of any appropriate legal remedies, including recovery of attorney’s fees and expenses incurred in enforcing any such legal remedies.
R emedies. Upon the occurrence of any Event of Default, and the failure of the defaulting Party to cure an Event of Default within the timeframe set forth in Section 6.2, above, or any approved extension of such timeframe, the non-defaulting Party may, immediately and without further notice to the defaulting Party, pursue any action to enforce performance, to recover damages, or to seek other relief from the non-defaulting Party with respect to such Event of Default, together with reasonable attorney fees due to the cost of such action(s). All obligations under this Agreement, including, but not limited to, payment obligations, shall continue during any initial or extended cure period.
R emedies. 1. If one or more of the circumstances enumerated above occur with respect to any Reinsurer, then the Company may elect to terminate such Reinsurer's participation on a cut-off basis upon consultation with and approval of the Original Insured (which approval shall not be unreasonably withheld). The Company shall give written notice to such Reinsurer stating the grounds for any such termination and when the termination shall be effective; p rovided, however, that (i) in the event of a Credit Rating Downgrade, the Company must provide prior written notice to the applicable Reinsurer of its intention to terminate within at least thirty (30) calendar days following the later of (x) the date on which the Company receives notice of such Credit Rating Downgrade from such Reinsurer and (y) the date on which such Credit Rating Downgrade takes effect; and (ii) in the event that the Company intends to cancel a Reinsurer’s participation in this Contract pursuant to Article 8 - SPECIAL TERMINATION subparagraph A(8) based upon a breach by such Reinsurer of any representations and warranties provided to the Company in this Contract or a breach by such Reinsurer of any of its material obligations under this Contract, (x) the Company shall notify such Reinsurer in writing, and (y) such Reinsurer shall have thirty (30) calendar days following the date on which such Reinsurer receives such notice to cure such breach, and if such Reinsurer fails to cure such breach within such thirty (30) day period, then such Reinsurer’s participation in this Contract shall terminate effective as of the end of such thirty (30) day period.
2. Should a Reinsurer experience a Credit Rating Downgrade, by any credit rating agency identified in the applicable Trust Supplement, then upon consultation with and approval of the Original Insured (which approval shall not be unreasonably withheld), the Company shall have the option to require that such Reinsurer deposit additional Eligible Assets into the Trust Account, as set forth in the applicable Trust Supplement. The deposit of such additional Eligible Assets at the request of the Company pursuant to this subparagraph C(2) shall be in lieu of terminating such Reinsurer's participation on a cut- off basis as per subparagraph C(1) above with respect to any termination triggers set forth in subparagraph A(10) above.
R emedies. If Contractor or Subcontractor fail to comply with any of the foregoing requirements in sections 4, 5, 6 or 7 at any time during or after the term of the Agreement the District may, as applicable, terminate the Agreement and/or disqualify Contractor and any one or more of Subcontractor from future contracts and subcontract with the District.
R emedies. Recipient agrees that any violafion or threatened violafion of this Agreement will cause irreparable injury to Discloser, enfitling Discloser to obtain injuncfive relief in addifion to all legal remedies without showing or proving any actual damage and without any bond being required to be posted.