Exercise Remedies definition

Exercise Remedies or "Exercise of Remedies" shall mean, with respect to each Lender, the taking of any action to enforce its rights or remedies against the Company Group following the occurrence of a Potential Default or Event of Default under its respective Financing Agreements, including, without limitation, the termination of a commitment to lend, the acceleration of all or a portion of the Obligations under such Financing Agreements, the filing or initiation of an Insolvency or Liquidation Proceeding against the Company or any other Person within the Company Group, the commencement of any foreclosure proceedings against any Collateral, the repossession of any Collateral, or the appointment or institution of a receiver, custodian or similar official to take custody of any assets of the Company or other members of the Company Group; provided, however, that the term "Exercise Remedies" shall specifically exclude (i) the issuance of any notice of default, (ii) any actions by a Credit Party to suspend (a) any disbursements from any accounts of the Company Group in which such Credit Party has a security interest or (b) Advances under the particular Facility and (iii) the recording of a Notice of Default in the County Recorder's Office of Xxxxx County, Nevada.
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Exercise Remedies means to take or institute the ----------------- taking of any exercise of remedies.
Sample 1
Exercise Remedies or the "Exercise of Remedies" means the recording of a Notice of Default under any of the Deeds of Trust, the commencement of an action for judicial foreclosure, the appointment of a receiver, the enforcement of personal property foreclosure proceedings (whether judicial or non-judicial), the filing of a complaint or other action to enforce any Obligations, realization on Collateral or the enforcement of other remedies under any Related Collateral Agreement or any Facility Agreement, or the exercise of set off, or any combination of the foregoing, by or for the benefit of any Secured Credit Party hereto; provided, however, that "Exercise Remedies" or the "Exercise of Remedies" shall exclude, without limitation, the following: (i) the giving of notices of default (as distinguished from recording a Notice of Default); (ii) any declaration of an Acceleration Event; and (iii) actions taken by any Secured Credit Party or the Intercreditor Agent to perfect, or to extend or confirm the perfection or effectiveness of, any Lien provided for herein or in the applicable Facility Agreements.
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Examples of Exercise Remedies in a sentence

  • Another financing alternative involved a consignment arrangement whereby a financial investor would fund the Debtors’ suppliers directly.Landlords Exercise Remedies.

  • On May 3, 2016, Stellus issued a Demand for Payment and Intent to Exercise Remedies (the “Stellus Maturity Demand”) to the Debtors after a copy was filed with the Court.

  • If and when a Disbursement Agreement Default shall occur and be continuing and the Standstill Period with respect thereto shall have expired, the Credit Parties and the Intercreditor Agent may Exercise Remedies only in accordance with Section 4.6.1 or Section 4.7.1 below.

  • The Intercreditor Agent shall be entitled to exercise, and it shall exercise, rights and remedies and take such action as permitted to be taken by the Intercreditor Agent under each Related Collateral Agreement as it may be directed from time to time by the applicable Controlling Party pursuant to the terms of this Agreement; provided that, such Controlling Party shall have the right to Exercise Remedies only in accordance with the applicable provisions of Section 4.6.1 or Section 4.6.2 above.

  • The Intercreditor Agent shall be entitled to exercise, and it shall exercise, rights and remedies and take such action as permitted to be taken by the Intercreditor Agent under each Related Collateral Agreement as it may be directed from time to time by the applicable Controlling Party pursuant to the terms of this Agreement; PROVIDED that, such Controlling Party shall have the right to Exercise Remedies only in accordance with the applicable provisions of SECTION 4.3 above.

  • Section 9.1. Events of Default 70 Section 9.2. Remedies 72 Section 9.3. Rights of Set-Off 74 Section 9.4. Remedies Cumulative, Concurrent and Non-Exclusive 75 Section 9.5. No Conditions Precedent to Exercise Remedies 75 Section 9.6. Release of and Resort to Collateral 76 Section 9.7. Waivers 76 Section 9.8. Discontinuance of Proceedings 76 Section 9.9. Power of Attorney 76 Section 9.10.

  • Notwithstanding anything to the contrary set forth in this Agreement, prior to the indefeasible payment in full of the Senior Loan Obligations and the Senior Subordinated Loan Obligations, and except as set forth in Section 8.2 or otherwise with the prior written consent of each Senior Subordinated Lender, Lender may not demand for payment of or accelerate the Junior Subordinated Loan Obligations or take any action against Company pursuant to this Agreement (to take such actions is to "Exercise Remedies").

  • On July 19, 2021, SunOpta filed a Motion for an Order Compelling Debtors to Assume or Reject an Executory Contract Pursuant to 11 U.S.C. § 365(d)(2) and Motion for an Order Modifying the Automatic Stay Pursuant to 11 U.S.C. § 362(d) to Allow it to Exercise Remedies (Including Termination) Under the Exclusive Supply Agreement with Pipeline Foods, LLC (SunOpta’s “ Motion to Compel”) [D.I. No. 62].

  • Each Secured Credit Party may declare an Event of Default under its Facility Agreement and accelerate all Obligations due thereunder, to the extent and on the terms and conditions provided for in such Facility Agreement; provided, however, that no Secured Credit Party shall be entitled to Exercise Remedies against any of the Company Group or with respect to the Collateral except as set forth in Section 4.3.

  • The provisions of the preceding SECTION 4.4.1 and SECTION 4.4.2 shall not restrict the right of a Secured Credit Party to Exercise Remedies against, and to complete a foreclosure against or other realization upon any Collateral which constitutes an interest in real property encumbered by a Deed of Trust granted for the benefit of such Secured Credit Party, PROVIDED that such Exercise of Remedies, foreclosure or other realization is permitted in accordance with the applicable provisions of SECTION 4.3.


More Definitions of Exercise Remedies

Exercise Remedies means to take or institute the taking of any exercise of remedies. For purposes of clarification, the terms "exercise of remedies" and "exercise remedies" exclude any reduction in the advance rates under the Revolving Borrowing Base, and the Revolving Lenders may, upon the occurrence and during the continuation of a Designated Event of Default, reduce the advance rates under the Revolving Borrowing Base without the necessity or consent of the Term Agent or any Term Lender. All references herein to "property" or "assets" include, without limitation, the Collateral.
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Exercise Remedies or "EXERCISE OF REMEDIES" shall mean, with respect to each Credit Party, the taking of any action to enforce its rights or remedies against the Company following the occurrence of a First Mortgage Notes Event of Default or a Subordinated Note Event of Default, including, without limitation, the acceleration of all or a portion of the obligations under such agreement, the filing or initiation of an Insolvency or Liquidation Proceeding against the Company or any other Person within the Company, the commencement of any foreclosure proceedings against any Collateral, the repossession of any Collateral, or the appointment or institution of a receiver, custodian or similar official to take custody of any assets of the Company or other members of the Company; PROVIDED, HOWEVER, that the term "Exercise Remedies" shall specifically exclude (a) the issuance of any notice of default, (b) any actions by a Credit Party to suspend (i) any disbursements from any accounts of the Company in which such Credit Party has a security interest or (ii) advances under the particular Note and (c) the recording of a Notice of Default in the County Recorder's Office of Xxxxxxxx County, Mississippi.
Sample 1
Exercise Remedies or the "EXERCISE OF REMEDIES" means the recording of a Notice of Default under any of the Deeds of Trust, the commencement of an action for judicial foreclosure, the appointment of a receiver, the enforcement of personal property foreclosure proceedings (whether judicial or non-judicial), the filing of a complaint or other action to enforce any Obligations, realization on Collateral or the enforcement of other remedies under any Related Collateral Agreement or any Facility Agreement, or the exercise of set off, or any combination of the foregoing, by or for the benefit of any Secured Credit Party hereto; PROVIDED, HOWEVER, that "Exercise Remedies" or the "Exercise of Remedies" shall EXCLUDE, without limitation, the following: (i) the giving of notices of default (as distinguished from RECORDING a Notice of Default); (ii) any declaration of an Acceleration Event; and (iii) actions taken by any Secured Credit Party or the Intercreditor Agent to perfect, or to extend or confirm the perfection or effectiveness of, any Lien provided for herein or in the applicable Facility Agreements.
Sample 1
Exercise Remedies or the "Exercise of Remedies" means the Recording of a Notice of Default under any deeds of trust or similar security agreement, the commencement of an action for judicial foreclosure, the appointment of a receiver, the enforcement of personal property foreclosure proceedings (whether judicial or non-judicial), the filing of a complaint or other action to enforce any Xxxxxxx Indebtedness, realization on any Collateral, the exercise of rights of setoff, or any combination of the foregoing, by Xxxxxxx; provided, however that "Exercise Remedies" shall exclude, without limitation, the following: (i) the giving of notice of default (as distinguished from recording a notice of default under a deed of trust in the real property records of Xxxxx County, Nevada), (ii) any declaration of acceleration of the Xxxxxxx Indebtedness (but only if the obligations under the Subordinated Notes have been accelerated).
Sample 1
Exercise Remedies or the "Exercise of Remedies" means the Recording of a Notice of Default under any deeds of trust or similar security agreement, the commencement of an action for judicial foreclosure, the appointment of a receiver, the enforcement of personal property foreclosure proceedings (whether judicial or non-judicial), the filing of a complaint or other action to enforce any obligation of the Company, the realization on any Collateral, the exercise of rights of setoff, or any combination of the foregoing.
Sample 1

Related to Exercise Remedies

  • Remedies means actions designed to restore or preserve the complainant’s equal access to education after a respondent is found responsible. Remedies may include the same individualized services that constitute supportive measures, but need not be non-punitive or non-disciplinary, nor must they avoid burdening the respondent.

  • Permitted Remedies means, with respect to any securities, one or more of the following remedies:

  • Exercise Right means the Exercise Right as specified in § 3 (1) of the Special Conditions.

  • Exercise Any Secured Creditor Remedies or “Exercise of Secured Creditor Remedies” shall mean, except as otherwise provided in the final sentence of this definition:

  • Exercise of Secured Creditor Remedies means, except as otherwise provided in the final sentence of this definition:

  • Required Percentage-Remedies shall be 66-2/3% of the aggregate Voting Rights.

  • Remedy means any remedial right to which an aggrieved party is entitled with or without resort to a tribunal.

  • Cumulative means a pollutant which increases in concentration in an organism by successive additions at different times or in different ways (bio-accumulation).

  • Exercise means a Holder’s right to exercise the Securities, in accordance with Product Condition 3;

  • Forbearance Default means: (A) the failure of the Company to provide the Noteholder Group and its financial advisors with reasonable access, as determined by the Noteholder Group in its reasonable discretion, to its Chief Executive Officer, other senior executives and outside advisors, including representatives of Xxxxx Xxxxx Xxxxxx that are working with the Company, and to provide the Noteholder Group and its legal and financial advisors with any and all due diligence information they may reasonably request, including, without limitation, the Company’s current 13-week cash flow schedule, and all updates thereto as soon as reasonably practicable after they are prepared, but in no event no later than two (2) business days thereafter; (B) the failure of the Company to engage in good faith negotiations with the Noteholder Group regarding a potential restructuring transaction, which determination shall be made by the Noteholder Group in its reasonable discretion; (C) the failure of the Company to promptly notify the Noteholder Group of the occurrence of a Forbearance Default (as defined in the DDJ Third Amended Forbearance Agreement) under the DDJ Third Amended Forbearance Agreement or any amendment or modification to the DDJ Third Amended Forbearance Agreement; (D) termination of the DDJ Third Amended Forbearance Agreement; (E) the execution of any amendment or modification to the DDJ Third Amended Forbearance Agreement, which amendment or modification has a material adverse effect on the Noteholder Group as determined by the Noteholder Group in its reasonable discretion; (F) termination by the Company of the Xxxxxx Engagement Letter or the failure of the Company to pay Xxxxxx’x fees, expenses and indemnity in accordance with the terms of the Xxxxxx Engagement Letter; (G) the occurrence of any Event of Default that is not a Specified Existing Default; (H) the failure of the Company to comply with any term, condition, covenant or agreement set forth in this Third Amended Forbearance Agreement; (I) the failure of any representation or warranty made by the Company under this Third Amended Forbearance Agreement to be true and correct in all material respects as of the date when made; (J) the commencement by or against the Company or any of the Subsidiaries of a case under title 11 of the United States Code; or (K) the commencement of any action or proceeding by any creditor of the Company or any of the Subsidiaries seeking to attach or take similar action against the assets of the Company or the Subsidiaries. Any Forbearance Default shall constitute an immediate Event of Default under the Indenture.

  • Termination Events means each of the events specified in Clause 10.3 of this Contract.

  • Breach of Duty means the Director or Officer breached or failed to perform his or her duties to the Corporation and his or her breach of or failure to perform those duties is determined, in accordance with Section 8.04, to constitute misconduct under Section 180.0851 (2) (a) 1, 2, 3 or 4 of the Statute.

  • Breach of Agreement provisions of Section 5(a)(ii) will apply to Party A and will not apply to Party B.

  • Events of Default has the meaning specified in Section 6.01.

  • Customer Default shall have the meaning set forth in Section 11.1.

  • Limitation of Liability Insert the following Section 15, after Section 14:

  • Specified Event of Default means an Event of Default under Section 7.01(a), (b), (h) or (i).

  • Exercise Event shall have the meaning ascribed to such term in Section 2(c).

  • Forbearance Termination Event has the meaning set forth in Section 3(a) hereto.

  • Default Effect means multiplying the Outstanding Balance as of the date the applicable Event of Default occurred by (a) 15% for each occurrence of any Major Default, or (b) 5% for each occurrence of any Minor Default, and then adding the resulting product to the Outstanding Balance as of the date the applicable Event of Default occurred, with the sum of the foregoing then becoming the Outstanding Balance under this Note as of the date the applicable Event of Default occurred; provided that the Default Effect may only be applied three (3) times hereunder with respect to Major Defaults and three (3) times hereunder with respect to Minor Defaults; and provided further that the Default Effect shall not apply to any Event of Default pursuant to Section 4.1(b) hereof.

  • Exercise Termination Event (i) the Effective Time (as defined in the Merger Agreement) of the Merger; (ii) termination of the Merger Agreement in accordance with the provisions thereof if such termination occurs prior to the occurrence of an Initial Triggering Event, except a termination by Grantee pursuant to Section 8.1(d) of the Merger Agreement (unless the breach by Issuer giving rise to such right of termination is non-volitional); or (iii) the passage of 12 months after termination of the Merger Agreement if such termination follows the occurrence of an Initial Triggering Event or is a termination by Grantee pursuant to Section 8.1(d) of the Merger Agreement (unless the breach by Issuer giving rise to such right of termination is non-volitional) (provided that if an Initial Triggering Event continues or occurs beyond such termination and prior to the passage of such 12-month period, the Exercise Termination Event shall be 12 months from the expiration of the Last Triggering Event but in no event more than 18 months after such termination). The "Last Triggering Event" shall mean the last Initial Triggering Event to expire. The term "Holder" shall mean the holder or holders of the Option.

  • Default Notice means the written notice of Default of the Agreement issued by one Party to the other.

  • Default Rights has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

  • the other party means, with respect to the Company, Parent and means, with respect to Parent, the Company.

  • Non-Cumulative means, with respect to any Qualifying Capital Securities, that the issuer may elect not to make any number of periodic Distributions without any remedy arising under the terms of the securities or related agreements in favor of the holders, other than one or more Permitted Remedies.