Remedies of Concessionaire Default Clause Samples

Remedies of Concessionaire Default. 46.2.1. Upon the occurrence of a Concessionaire Default, Transnet may at its option and without prejudice to any of its other rights or remedies and to any rights of action which shall accrue or shall have already accrued to Transnet do any or all of the following – 46.2.1.1. forthwith issue a Concession Termination Notice to the Concessionaire terminating this Agreement, in respect of any Concessionaire Default which is not capable of remedy, or for which the Concessionaire Default in question was not remedied or cured to the satisfaction of Transnet; 46.2.1.2. suspend payment of any payment(s) that may be due from Transnet to the Concessionaire under this Agreement or otherwise howsoever arising; 46.2.1.3. without determining this Agreement, by notice in writing having immediate effect, suspend performance by the Concessionaire of part only of the functions to be performed by it under the Concession Documents until such time as the Concessionaire shall have demonstrated to the reasonable satisfaction of Transnet that it will perform and is capable of performing the Concession obligations and thereafter itself to perform or procure a third party to perform such part of the functions for such period; 46.2.1.4. the Concessionaire acknowledging and agreeing that the occurrence of a Concessionaire Default shall go to the root of this Agreement and accordingly shall be a breach of a condition which Transnet shall be entitled (without prejudice to any of its other rights hereunder or under any of the other Concession Documents) to treat as a repudiation by the Concessionaire of this Agreement, give a Concession Termination Notice to the Concessionaire to terminate this Agreement; save that Transnet must provide in any Concession Termination Notice pursuant to clause 46.2.1.4 such period or periods within which the Concessionaire must rectify the circumstances giving rise to the notice or otherwise cure the relevant Concessionaire Default, and upon such rectification or curing to the reasonable satisfaction of Transnet, the notice shall lapse.
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Related to Remedies of Concessionaire Default

  • Remedies; Obtaining the Collateral Upon Default Each Assignor agrees that, if any Event of Default shall have occurred and be continuing, then and in every such case, the Collateral Agent, in addition to any rights now or hereafter existing under applicable law, shall have all rights as a secured creditor under the Uniform Commercial Code in all relevant jurisdictions and may: (i) personally, or by agents or attorneys, immediately take possession of the Collateral or any part thereof, from such Assignor or any other Person who then has possession of any part thereof with or without notice or process of law, and for that purpose may enter upon such Assignor's premises where any of the Collateral is located and remove the same and use in connection with such removal any and all services, supplies, aids and other facilities of such Assignor; (ii) instruct the obligor or obligors on any agreement, instrument or other obligation (including, without limitation, the Receivables and the Contracts) constituting the Collateral to make any payment required by the terms of such agreement, instrument or other obligation directly to the Collateral Agent; (iii) withdraw all monies, securities and instruments in the Cash Collateral Account for application to the Obligations in accordance with Section 7.4 hereof; (iv) sell, assign or otherwise liquidate any or all of the Collateral or any part thereof in accordance with Section 7.2 hereof, or direct the relevant Assignor to sell, assign or otherwise liquidate any or all of the Collateral or any part thereof, and, in each case, take possession of the proceeds of any such sale or liquidation; (v) take possession of the Collateral or any part thereof, by directing the relevant Assignor in writing to deliver the same to the Collateral Agent at any place or places designated by the Collateral Agent, in which event such Assignor shall at its own expense:

  • 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

  • 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.

  • No Default; No Waiver Except for payment delinquencies continuing for a period of not more than 30 days as of the Cut-Off Date, the records of the Servicer did not disclose that any default, breach, violation or event permitting acceleration under the terms of the Receivable existed as of the Cut-Off Date or that any continuing condition that with notice or lapse of time, or both, would constitute a default, breach, violation or event permitting acceleration under the terms of the Receivable had arisen as of the Cut-Off Date and the Seller has not waived any of the foregoing.

  • Default Breach Remedies See Addendum 13.1