Uncured Defaults Sample Clauses

The "Uncured Defaults" clause defines the consequences and procedures that apply when a party fails to remedy a breach or default within a specified cure period. Typically, this clause outlines what constitutes a default, the notice requirements for the defaulting party, and the time frame allowed to correct the issue. If the default is not cured within the allotted time, the non-defaulting party may have the right to terminate the agreement, seek damages, or pursue other remedies. The core function of this clause is to provide a clear process for addressing unresolved breaches, thereby protecting parties from ongoing non-compliance and offering a structured path to resolution or exit.
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Uncured Defaults. Upon the occurrence of an Event of Default, the Non-Defaulting Party may terminate this Agreement as set forth in Section 6.02.
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Uncured Defaults. If an Event of Default has occurred and is continuing as of the date the Non- Defaulting Party designates, by Notice, an Early Termination Date pursuant to Section 6.02(a), the Non-Defaulting Party may terminate this Power Purchase Agreement as set forth in Section 6.02.
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Uncured Defaults. The term “Uncured Default(s)” as used herein shall have the meaning described in Section 14.2.4.
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Uncured Defaults. Upon request of either party, the other party shall execute a certificate stating whether or not this Agreement is in full force and effect, specifying the nature of any uncured defaults hereunder and specifying the amounts of any such due and owing hereunder which have not been paid.
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Uncured Defaults. No uncured default exists at the time of the exercise of the Option Term.
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Uncured Defaults. In the event of a default that remains uncured following 10 days written notice by City to Borrower, the City may declare the Loan to be immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by ▇▇▇▇▇▇▇▇.
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Uncured Defaults. Should any default by a prior Lessor under the Lease remain uncured at the time that a Successor Lessor acquires title to the Property, Lessee will give the Successor Lessor such time as is reasonably required to remedy such default as provided by Section 3.5, above, provided the Successor Lessor proceeds with reasonable diligence to do so. Lessee agrees, that notwithstanding any provision of the Lease to the contrary, (a) Lessee shall not be entitled to ▇▇▇▇▇ or offset against the rent any claims Lessee has against any prior Lessor, and (b) Lessee will not be entitled to cancel the Lease, or to exercise any other right or remedy available to Lessee under the Lease, unless and until Lender has been given notice of the default and reasonable opportunity to cure such default as provided herein, notwithstanding any prior failure by a prior Lessor to cure such default within a reasonable period of time after notice thereof.
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Uncured Defaults. Lessor may, as a condition to its consent to any proposed Transfer, require that either Lessee or the proposed Transferee cure, on or before the proposed effective date of such transfer, any and all uncured defaults hereunder, provided, however, in no event shall Lessor's failure to condition its consent, and such condition is not satisfied by the effective date of the Transfer, the Transfer shall be voidable at Lessor's option. 13.
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Uncured Defaults. A default by Tenant in the performance of or compliance with its Obligations with respect to which a notice of default is required under this Lease shall be deemed to constitute and is hereby defined as an "Uncured Default" if and at such time as the time period for cure of the default, as provided for in this Lease, has expired without the cure having been effected. The term "Uncured Default" shall also include any failure by Tenant to perform or comply with, or a default by Tenant as to, any Obligation hereunder as and when such failure to perform or comply or such default occurs if with respect thereto the Tenant is not afforded a right of notice from the Landlord or right to cure.
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Related to 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.

  • 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.

  • 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.

  • Covenant Defaults If Borrower defaults in the performance or observance of any covenant or agreement in this Agreement, and such default continues for a period of twenty (20) calendar days after the earlier of Borrower's knowledge thereof or receipt of written notice from Lender thereof, except for violations of SECTION 7.08(d), which shall become an Event of Default at the end of the sixty (60) day period stated therein and except for specific Defaults listed elsewhere in this SECTION 9.01, as to which no notice or cure period shall apply unless specified; or