Application During Event of Default Sample Clauses

Application During Event of Default. Notwithstanding anything to the contrary contained herein (including this Article 6), upon the occurrence and during the continuance of an Event of Default, Lender, at its option, may apply any Collections then in the possession of Lender, Servicer or the Collection Account Bank (including any Reserve Funds on deposit in the Accounts) or any Property Account Bank to the payment of the Debt in such order, proportion and priority as Lender may determine in its sole and absolute discretion. Lender’s right to withdraw and apply any of the foregoing funds shall be in addition to all other rights and remedies provided to Lender under the Loan Documents.
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Application During Event of Default. Notwithstanding anything to the contrary contained herein, in addition to exercising any or all of its other rights and remedies under the Loan Documents or applicable law, during the existence of an Event of Default, Lender may, at its option (i) direct Servicer in writing, to pay over to Lender all or any part of the Funds in the Lockbox Account specified by Lender in such written direction, without demand or notice to any Borrower, (ii) setoff or recoup or otherwise apply all or any part of the Funds in the Lockbox Account against all or any part of the Loans (whether matured, unmatured, due or not yet due), in such order and priority as Lender shall determine in its sole and absolute discretion, (iii) apply all or any part of the Funds in the Lockbox Account to satisfy any of the other obligations of the Borrowers, or any of them, under the Loan Documents, and/or (iv) hold all or any part of the Funds as additional cash collateral for the Loans without applying the same pursuant to clauses (i) through (iii) above and without any obligation to disburse any or all of such Funds pursuant to Sections 4(a) or 4(b) above. Promptly after receiving such written direction, Servicer shall pay over to Lender all of the Funds in the Lockbox Account or the part thereof specified in such written direction, as the case may be.
Sample 1
Application During Event of Default. Notwithstanding anything to the contrary contained herein (including this Article 6), upon the occurrence and during the continuance of an Event of Default, Lender, at its option, may apply any Collections then in the possession of Lender, Servicer or the Collection Account Bank (including any Reserve Funds on deposit in the Accounts) or any Rent Deposit Account Bank to the payment of the Debt in such order, proportion and priority as Lender may determine in its sole and absolute 136
Sample 1
Application During Event of Default. Notwithstanding anything to the contrary contained herein or in any of the other Loan Documents, the Affiliate Guaranty (Portfolio Borrowers) or the Third Mortgages, in addition to exercising any or all of its other rights and remedies under the Loan Documents, the Affiliate Guaranty (Portfolio Borrowers), the Third Mortgages or applicable law, upon an Event of Default, Administrative Agent may, at Administrative Agent’s option (i) direct Servicer, in writing, to pay to Administrative Agent all or any part of the funds in any Account specified by Administrative Agent in such written direction, without demand or notice to Borrowers, (ii) setoff, recoup or otherwise apply all or any part of the funds in any Account against all or any part of the Secured Obligations, the Second Mortgage Secured Obligations, or the Third Mortgage Secured Obligations (whether matured, unmatured, due or not yet due), in such order, priority and manner as Administrative Agent shall determine, (iii) apply all or any part of the funds in any Account to satisfy any of the other obligations of Borrowers under the Loan Documents, the Affiliate Guaranty (Portfolio Borrowers) and the Third Mortgages, and/or (iv) hold all or any part of the funds in any Account as additional cash collateral for the Secured Obligations, the Second Mortgage Secured Obligations, and the Third Mortgage Secured Obligations without applying the same pursuant to clauses (i) through (iii) above and without any obligation to disburse any or all of such funds pursuant 153251886 Loan Agreement (NY Loan) - GTJ Portfolio Refinancing - AIG to this Agreement, the other Loan Documents, the Affiliate Guaranty (Portfolio Borrowers) or the Third Mortgages. Promptly after receiving any such written direction, Servicer shall pay to Administrative Agent all of the funds in any Account or the part thereof specified in such written direction, as the case may be. If Administrative Agent applies any of the funds in any Account to repay any portion of the Principal Indebtedness during the existence of an Event of Default, then Borrowers shall be liable for the payment of any yield maintenance or prepayment premium in connection with such application in accordance with Section 2.3. Borrowers hereby irrevocably constitute and appoint Administrative Agent as Borrowers’ true and lawful attorney-in-fact, with full power of substitution, during the continuation of an Event of Default, to execute, acknowledge and deliver any instruments ...
Sample 1
Application During Event of Default. Notwithstanding anything to the contrary contained herein (including this Article 6), upon the occurrence and during the continuance of an Event of Default, Lender, at its option, may apply any Collections then in the possession of Lender, Servicer or the Collection Account Bank (including any Reserve Funds on deposit in the Accounts) or any Property Account Bank (subject to the rights of Tenants under applicable law to the security deposits in the Security Deposit Accounts) to the payment of the Debt in such order, proportion and priority as Lender may determine in its sole and absolute discretion. Lender’s right to withdraw and apply any of the foregoing funds shall be in addition to all other rights and remedies provided to Lender under the Loan Documents.
Sample 1
Application During Event of Default. Notwithstanding the foregoing provisions of this Section 9 or the provisions of Section 10, if a Default or an Event of Default shall have occurred and be continuing, any amount that would otherwise be payable to or for the account of, or that would otherwise be retained by, the Lessee pursuant to the second sentence of Section 6(c) or Section 10 or this Section 9 shall be held by the Indenture Trustee (or after release of the Lien of the Indenture on the Indenture Estate in accordance with its terms, by the Lessor), as security for the obligations of the Lessee under this Lease until such time thereafter as no such Default or Event of Default shall be continuing, unless this Lease theretofore shall have been declared in default pursuant to Section 16, in which event such amount shall be applied in accordance with the provisions of this Lease; provided, however, that if a rejectable purchase offer is made (or deemed made) by the Lessee pursuant to Section 9(c)(i) or 9(c)(iii) and such offer is accepted and the Transfer in connection therewith is consummated and payment in full of any Outstanding Facility Notes and all other amounts due under the Transaction Documents to the Lessor, the Indenture Trustee or any Participant is duly provided for, then contemporaneously with such Transfer and payment of such amounts, the Lessee shall be entitled to receive from the Indenture Trustee (or from the Lessor, as applicable) all such amounts unencumbered by any interest the Lessor.
Sample 1
Application During Event of Default. Notwithstanding anything to the contrary contained herein (including this Article 6), upon the occurrence and during the continuance of an Event of Default, Administrative Agent, at its option, may apply any Collections then in the possession of Administrative Agent, Servicer or the Collection Account Bank (including any Reserve Funds on deposit in the Accounts) or any Rent Deposit Account Bank to the payment of the Debt in such order, proportion and priority as Administrative Agent may determine in its sole and absolute discretion; provided, that any outstanding fees, costs, expenses and indemnities of Collateral Agent then due and owing to it shall be paid prior to the application of amounts by Administrative Agent for any other purpose. Administrative Agent’s right to withdraw and apply any of the foregoing funds shall be in addition to all other rights and remedies provided to the Secured Parties under the Loan Documents.
Sample 1
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Application During Event of Default. Notwithstanding anything to the contrary contained herein (including Section 2.6.3), upon the occurrence and during the continuance of an Event of Default, the Administrative Agent may, at its option (and shall upon written instruction of the Majority Lenders) instruct the Paying Agent to apply any Collections then in the possession of the Administrative Agent or the Paying Agent (including any Reserve Funds on deposit in the Subaccounts) or the Rent Deposit Banks to the payment of the Debt in such order, proportion and priority as the Administrative Agent may determine in its sole and absolute discretion. The Administrative Agent’s right to withdraw and apply any of the foregoing funds shall be in addition to all other rights and remedies provided to the Administrative Agent and the other Secured Parties under the Loan Documents.
Sample 1
Application During Event of Default. Notwithstanding anything to the contrary contained herein (including Section 2.6.3), upon the occurrence and during the continuance of an Event of Default, Lender, at its option, may apply any Collections then in the possession of Lender, Servicer or the Cash Management Account Bank (including any Reserve Funds on deposit in the Subaccounts) or the Rent Deposit Banks to the payment of the Debt in such order, proportion and priority as Lender may determine in its sole and absolute discretion. Lender’s right to withdraw and apply any of the foregoing funds shall be in addition to all other rights and remedies provided to Lender under the Loan Documents.
Sample 1

Related to Application During Event of Default

  • Event of Default; Notice (a) The Guarantee Trustee shall, within 90 days after the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders, notices of all Events of Default known to the Guarantee Trustee, unless such defaults have been cured before the giving of such notice, provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders.

  • Additional Event of Default The following will constitute an additional Event of Default with respect to Party B: "NOTE ACCELERATION NOTICE. A Note Acceleration Notice is served on Party B in relation to the Relevant Notes."

  • Notification of Event of Default Borrower shall notify Agent immediately of the occurrence of any Event of Default.

  • No Event of Default No Default or Event of Default has occurred and is continuing.

  • Action if Other Event of Default If any Event of Default (other than any Event of Default described in clauses (i) through (iv) of Section 9.1(h)) shall occur for any reason, whether voluntary or involuntary, and be continuing, the Lender may, by notice to the Borrower declare all or any portion of the outstanding principal amount of the Loans and other Obligations to be due and payable and/or the Commitments (if not theretofore terminated) to be terminated, whereupon the full unpaid amount of the Loans and other Obligations which shall be so declared due and payable shall be and become immediately due and payable, without further notice, demand or presentment, and the Commitments shall terminate.

  • Notice of Event of Default If the Mortgagee shall have Actual Knowledge of an Event of Default or of a Default arising from a failure to pay Rent, the Mortgagee shall give prompt written notice thereof to the Owner Trustee, the Owner Participant, Lessee, and each Note Holder. Subject to the terms of Sections 2.13, 4.03, 4.04, 4.08, 5.02 and 5.03 hereof, the Mortgagee shall take such action, or refrain from taking such action, with respect to such Event of Default or Default (including with respect to the exercise of any rights or remedies hereunder) as the Mortgagee shall be instructed in writing by a Majority in Interest of Note Holders. Subject to the provisions of Section 5.03, if the Mortgagee shall not have received instructions as above provided within 20 days after mailing notice of such Event of Default to the Note Holders, the Mortgagee may, subject to instructions thereafter received pursuant to the preceding provisions of this Section 5.01, take such action, or refrain from taking such action, but shall be under no duty to take or refrain from taking any action, with respect to such Event of Default or Default as it shall determine advisable in the best interests of the Note Holders; PROVIDED, HOWEVER, that the Mortgagee may not sell the Aircraft or any Engine without the consent of a Majority in Interest of Note Holders. For all purposes of this Trust Indenture, in the absence of Actual Knowledge on the part of the Mortgagee, the Owner Trustee or the Owner Participant, the Mortgagee, the Owner Trustee or the Owner Participant, as the case may be, shall not be deemed to have knowledge of a Default or an Event of Default (except, in the case of the Mortgagee, the failure of Lessee to pay any installment of Basic Rent within one Business Day after the same shall become due, if any portion of such installment was then required to be paid to the Mortgagee, which failure shall constitute knowledge of a Default) unless notified in writing by Lessee, the Owner Trustee, the Owner Participant or one or more Note Holders.

  • Event of Default Any of the following shall constitute an "Event of Default":

  • Waiver of Event of Default The Majority Certificateholders may, on behalf of all Certificateholders, by notice in writing to the Trustee, direct the Trustee to waive any events permitting removal of any Master Servicer under this Agreement, provided, however, that the Majority Certificateholders may not waive an event that results in a failure to make any required distribution on a Certificate without the consent of the Holder of such Certificate. Upon any waiver of an Event of Default, such event shall cease to exist and any Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other event or impair any right consequent thereto except to the extent expressly so waived. Notice of any such waiver shall be given by the Trustee to the Rating Agency.

  • Actions following an Event of Default On, or at any time after, the occurrence of an Event of Default:

  • Events of Default; Notice (a) The Guarantee Trustee shall, within 90 days after the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Capital Securities and the Guarantor, notices of all Events of Default actually known to a Responsible Officer of the Guarantee Trustee, unless such defaults have been cured before the giving of such notice, provided, however, that the Guarantee Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Capital Securities.

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