Remedies for Defaults Clause Samples

Remedies for Defaults. Remedies for delinquent loan repayment and other events of default shall be limited to those set forth in the loan agreement. Events of default shall include non-compliance with any of the terms of the loan agreement. No delay or omission to exercise any right or power accruing upon an event of default shall impair any such right or power or shall be construed to be a waiver of any such default or acquiescence therein.

Remedies for Defaults. (a) If Purchaser defaults hereunder prior to Closing in any material respect and such default remains uncured ten (10) days after notice thereof from Seller to Purchaser in which the nature of the default is described with particularity, (and no such notice shall be required and no cure period given in respect to a default on the Closing Date) Seller shall have the right to terminate Seller’s obligations hereunder and Purchaser’s rights under this Agreement, and whatever interest in the Property is derived hereunder, by giving notice of such election to Purchaser, in which event Seller shall (i) be paid, and have the right to retain, the ▇▇▇▇▇▇▇ Money, if such default is in the performance of any obligation of Purchaser hereunder other than the Indemnity Obligation, which payment to Seller of the ▇▇▇▇▇▇▇ Money in respect of such default shall be Seller’s sole and exclusive remedy therefor (Seller and Purchaser each agreeing that the amount of said ▇▇▇▇▇▇▇ Money to be so paid to Seller under such circumstances is the mutually agreed upon amount of compensation to Seller for making the Property available to Purchaser on the terms and during the pendency of this Agreement, and that the payment thereof will not result in a penalty or forfeiture, and shall be in lieu of any other remedy or damages), and (ii) be paid by Purchaser Seller’s damages resulting from any default by Purchaser in performing the Indemnity Obligation. (b) If Seller defaults hereunder prior to Closing in any material respect and such default remains uncured ten (10) days after notice thereof from Purchaser to Seller in which the nature of the default is described with particularity, (and no such notice shall be required and no cure period given in respect to a default on the Closing Date) Purchaser may elect, as Purchaser’s sole and exclusive remedy, either to: (i) terminate Purchaser’s obligations hereunder by giving notice of such election to Seller, in which event the ▇▇▇▇▇▇▇ Money shall be returned to Purchaser, and Seller shall, subject to the conditional limitation hereinafter specified, reimburse Purchaser for Purchaser’s actual documented out-of-pocket expenses incurred by it in connection with entering into this Agreement, making and causing to be made evaluations and investigations of the Property, and arranging financing to consummate the purchase of the Property (including, but not limited to, non-refundable loan commitment fees and other borrowing costs). or (ii) compel Seller...

Remedies for Defaults. Upon the occurrence of any one or more events of default, Landlord, at his option may terminate all rights of Tenant thereunder, unless Tenant, within said time shall cure such default. If Tenant abandons or vacates the premises while in default, Landlord may re-enter the premises to remove fixtures or chattels therefrom, and Landlord may consider the fixtures or chattels therefrom abandoned, and may dispose or discard of the same in any manner allowed by the law and shall not be liable for any damages resulting therefrom; all chattels on the premises shall be subject to a lien for the benefit of Landlord securing the payment of all sums due hereunder, to the maximum extent allowed by the law; upon happenings of any one or more of the above-mentioned events of default, Landlord may elect to continue the lease in effect and enforce all his rights and remedies hereunder, including the right to recover the rental payments as it becomes due or at any time, terminate all of Tenant's rights hereunder and recover from Tenant all damages he may incur by reason of the breach of the lease, including the cost of recovering the premise, and including the worth at the time of such termination, or at the time of an award if suit be instituted to enforce this provision, of the amount by which the unpaid rent for the balance of the term exceeds the amount of such rental loss which the Tenant proves could be reasonably avoided.

Remedies for Defaults. Upon the occurrence of a (i) Haverhill Payment Default for which Haverhill fails to provide reasonable assurances to Sunoco in respect of further payments by Haverhill to Sunoco under this Agreement, or (ii) Haverhill Performance Default which remains uncured, Sunoco may terminate this Agreement upon Written notice and shall have no obligation to pay the Steam Capacity Reservation Fee for the remainder of the Term. In the event of a termination under this section 10.1.3, Haverhill shall pay Sunoco as Sunoco’s sole remedy the sum of (y) any amounts due by Haverhill to Sunoco under this Agreement as of the effective date of its termination, which shall be due and payable upon the date of the termination; plus (z) seventeen million three hundred sixty thousand dollars ($17,360,000.000).

Remedies for Defaults. (a) In the event Customer defaults under this Agreement, Ameresco may: (i) bring actions for any remedies available at law or in equity or other appropriate proceedings for the recovery of direct damages (including amounts past due), and/or bring an action in equity for specific performance; or (ii) without recourse to legal process, Ameresco may terminate this Agreement by delivery of written notice of termination consistent with the notice provisions in Section 24 below. (b) In the event Ameresco defaults under this Agreement, Customer may terminate this Agreement and bring an action in law for direct damages.

Remedies for Defaults. If an Event of Default occurs with respect to either Party at any time during the term of this Confirmation, the non-Defaulting Party may (a) designate a day, no earlier than the day such notice is effective and no later than twenty (20) calendar days after such notice is effective, as an early termination date (“Early Termination Date”) to liquidate and terminate this Confirmation; (b) withhold any payments due in respect of this Confirmation or suspend performance under this Confirmation; and (c) exercise such other remedies as may be available at law or in equity or as otherwise provided in this Confirmation.

Remedies for Defaults. If an Event of Default occurs with respect to either Party at any time during the term of this Confirmation, the non-Defaulting Party may (a) designate a day, no earlier than the day such notice is effective and no later than twenty

Remedies for Defaults. On the occurrence of a Default Event, the Non-Defaulting Party may pursue any remedy under this Agreement, at law or in equity, including an action for damages and termination of this Agreement or suspension of performance of its obligations under this Agreement, upon five (5) days prior written notice to the Defaulting Party following the occurrence of the Default Event. If Purchaser is the Defaulting Party, then Seller may, in its sole discretion and upon not less than ten (10) days written notice to Purchaser, cease providing electric energy generated from the System to Purchaser and elect to continue to generate electric energy from the System and sell such energy to the Utility or a third party (such sale a “Third Party Energy Sale”) during the continuance of Purchaser’s Default Event. If Seller elects to proceed with a Third Party Energy Sale, (A) Seller shall be entitled to modify the System as Seller deems necessary to accommodate the Third Party Energy Sale, and (B) Seller shall be entitled to pursue an action for damages including, without limitation, lost revenue due to realization of a price per kWh in such Third Party Energy Sale that is lower than the then effective Energy Rate. Nothing herein shall limit either Party’s right to collect damages upon the occurrence of a breach or a default by the other Party that does not become a Default Event.

Remedies for Defaults. Should an event of default occur by the Debtors, the Disbursing Agent, or any other Person, at least one other party-in-interest (including any Debtor) must provide written notice of the default to the defaulting party and serve copies of the notice to all parties identified in section 17.2 of the Plan. If the default is not cured within ten (10) days after service of the notice of default, the notifying party may present an ex parte order to the Bankruptcy Court setting a date and time when the defaulting party must appear before the Bankruptcy Court and show cause why it should not be held in contempt of the Confirmation Order. If the defaulting party is found to be in default of the Plan, the Bankruptcy Court shall: (a) assess the costs of the Debtors, the Disbursing Agent, or other party-in-interest of proceeding on the order to show cause against the defaulting party, such costs to be the greater of the actual amounts incurred or $5,000; and (b) designate a person to appear, sign, and/or accept on behalf of the defaulting party the documents required under the Plan in accordance with Federal Rule of Civil Procedure 70, or enter such other order compelling compliance with the Plan that may be necessary and that does not materially alter the terms of the Plan as confirmed.