Default of the Borrower Sample Clauses

Default of the Borrower. 10.1. The Loan Originator and Mintos shall not be responsible for the default of the Borrower including late payments.
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Default of the Borrower. 9.1. The Loan Originator and Viainvest shall not bear the responsibility for the default of the Borrower including late payments.
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Default of the Borrower. 10.1. The Loan Originator, the Assignor and REDLEE shall not be responsible for the default of the Borrower including late payments.
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Default of the Borrower. Upon failure by the Borrower to pay punctually any Indebtedness when due, whether at maturity, by acceleration, after notice of prepayment or otherwise, the Guarantor shall forthwith on demand pay the amount not so paid immediately following such demand by the Agent at its offices at Eleven Xxxxxxx Xxxxxx, Xxx Xxxx, XX 00000. Other than the demand referred to in the immediately preceding sentence, the Guarantor hereby waives notice of acceptance of this Agreement and of any Indebtedness to which it applies or may apply. The Guarantor further waives presentation and demand for payment of the Borrower’s Indebtedness, notice of dishonor and of nonpayment, notice of intention to accelerate, notice of acceleration, protest and notice of protest, collection or institution of any suit or other action by the Agent in collection thereof, including any notice of default in payment thereof or other notice to, or demand for payment thereof on any party. To the fullest extent permitted by applicable law, the Guarantor waives any defense based on or arising out of any defense of the Borrower or any other Guarantor or the unenforceability of the Indebtedness or any part thereof from any cause, or the cessation from any cause of the liability of the Borrower or any other Guarantor, other than the indefeasible payment in full in cash of all the Indebtedness.
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Default of the Borrower. 10.1. The Assignor, the Loan Originator and Tech Consultancy Management Partners shall not be responsible for the default of the Borrower including late payments.
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Default of the Borrower. The Borrower is otherwise in material breach of its obligations under this Agreement including a representation, warranty or covenant or the agreements constituting the Royalty Collateral or any agreement with respect to the Royalty Collateral or Lenders right to receive the Royalty Collateral ceases to be in full force and effect.
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Default of the Borrower. In the event of a default, the Borrower authorizes the following privileges for recovery to the EEA: In the case of a local Government Organization: Pursuant to MGL X.0X, X.00X XXX 000 XXX 0.00, XXX may request of the Treasurer of the Commonwealth to withhold local aid payments in an amount equal to the principal amount in arrears including any interest and penalty charges due, further requesting that said funds shall be forwarded to EEA in resolution of the loan until all principal, interest and fees are fully repaid to EEA. In the case of a Charitable Organization: EEA may request of the Treasurer of the Commonwealth to withhold reimbursement payments on other contracts held by the organization with the Commonwealth, and further requesting that payments of such funds in an amount equal to the outstanding loan balance any interest and penalty charges due be forwarded to EEA in resolution of the loan. Further, a lien on any property held by the organization may also be filed and held until the full amount of the loan and any fees and interest levied is resolved. In the case of a private owner: EEA may request of the Treasurer of the Commonwealth to withhold tax refunds as well as reimbursement payments on other contracts held by the owner with the Commonwealth, and further requesting that payments of such funds in an amount equal to the outstanding loan balance any interest and penalty charges due be forwarded to EEA in resolution of the loan. Further, a lien on any property held by the organization may also be filed and held until the full amount of the loan and any fees and interest levied is resolved.
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Default of the Borrower 
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Related to Default of the Borrower

  • Default of the Bank If the Bank is in default (as defined in Section 3(x)(1) of the FDIA), all obligations under this Agreement shall terminate as of the date of default, but this provision shall not affect any vested rights of the contracting parties.

  • Borrower Default Unless the Administrative Agent shall have received notice from Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the Issuing Bank hereunder that Borrower will not make such payment, the Administrative Agent may assume that Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the Issuing Bank, as the case may be, the amount due. In such event, if Borrower has not in fact made such payment, then each of the Lenders or the Issuing Bank, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or the Issuing Bank with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation.

  • Default of Indebtedness No Borrower is in default in the payment of the principal of or interest on any Indebtedness or under any instrument or agreement under or subject to which any Indebtedness has been issued and no event has occurred under the provisions of any such instrument or agreement which with or without the lapse of time or the giving of notice, or both, constitutes or would constitute an event of default thereunder.

  • Default of Tenant The occurrence of any one or more of the following events shall constitute a default and breach of this Lease by Tenant: (a) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completion.

  • Default or Event of Default No Default or Event of Default hereunder has occurred or is continuing or will occur as a result of the giving effect hereto.

  • Notice of Default or Event of Default promptly, and in any event within five days after a Responsible Officer becoming aware of the existence of any Default or Event of Default or that any Person has given any notice or taken any action with respect to a claimed default hereunder or that any Person has given any notice or taken any action with respect to a claimed default of the type referred to in Section 11(f), a written notice specifying the nature and period of existence thereof and what action the Company is taking or proposes to take with respect thereto;

  • No Default or Event of Default No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the Extension of Credit to be made on such date unless such Default or Event of Default shall have been waived in accordance with this Agreement.

  • Lender Default If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.02(c), 2.14(e), 2.17(d), 2.18(d), 2.18(e) or 10.03(c), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid.

  • Event of Default; Waiver The Holders of a Majority in Liquidation Amount of the Preferred Securities may, on behalf of the Holders, waive any past Event of Default and its consequences. Upon such waiver, any such Event of Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Guarantee Agreement, but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent therefrom.

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