Automatic Arrears Sample Clauses

Automatic Arrears. 12.1. The Parties shall fall into arrears by operation of law and by expiration of the terms herein provided or failure to comply with the obligations hereby assumed without prior demand, whether judicial or extrajudicial, being sufficient the expression of the pertaining party's will.
Sample 1
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Automatic Arrears. The arrears shall be automatic by the mere expiration of the terms for those obligations which contain them and, in the other cases a prior notice to the Debtor shall be required for a term of 15 days in order to cure its default during such term. . Neither the arrears nor the effects of the notice previously described shall require any previous protest or judicial or extrajudicial demand. From the moment of the arrears, all the amounts owed by the Debtor to CIMINAS shall accrue, besides the Compensatory Interests and the Additional Compensatory Interests, if pertinent, Default Interests.
Sample 1
Automatic Arrears. If the Pledgor defaulted on its obligations under the Security Agreement, it shall automatically be classified to be in arrears, without the need for the Collateral Agent to demand compliance therewith in or out of court, in accordance with the provisions of Section 1333, Point 1) of the Civil Code. SEVENTEEN: APPLICABLE LAW AND DISPUTE RESOLUTION
Sample 1

Related to Automatic Arrears

  • Automatic Debit In order to effectuate the timely payment of any of the Obligations when due, Borrower hereby authorizes and directs Lender, at Lender’s option, to: (i) debit, or cause or instruct the debit of, the amount of the Obligations to any ordinary deposit account of Borrower; or (ii) make a Revolving Loan hereunder to pay the amount of the Obligations.

  • Automatic Early Termination provision of Section 6(a) will not apply to Party A and will not apply to Party B.

  • Automatic Extension At the end of the initial term and any subsequent ------------------- term, this Agreement shall automatically renewed for a five (5) year term unless one of the parties provides the other party with written notice of intent not to renew, not less than one hundred eighty (180) day prior to the expiration of the then current term.

  • Automatic Debits With respect to any principal, interest, fee, or any other cost or expense (including attorney costs of the Administrative Agent or any Lender payable by the Borrower hereunder) due and payable to the Administrative Agent or any Lender under the Loan Documents, the Borrower hereby irrevocably authorizes the Administrative Agent to debit any deposit account of the Borrower maintained with the Administrative Agent in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such principal, interest, fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount then due, such debits will be reversed (in whole or in part, in the Administrative Agent’s sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section 10.18 shall be deemed a set-off.

  • Automatic Renewal Each Schedule will renew automatically at the end of the then-current Schedule Term for a Schedule Renewal Term unless terminated in accordance with this Agreement by either You or Company.

  • Automatic Termination This Agreement shall automatically and immediately terminate in the event of its “assignment” (as defined in the 1940 Act).

  • Automatic Acceleration Upon the occurrence of an Event of Default described in Section 8.01(l) or Section 8.01(m) the Facility shall be automatically terminated and the Loans and all other Obligations shall be immediately due and payable upon the occurrence of such event, without demand or notice of any kind.

  • Commitment Termination Date the earliest to occur of (a) the Revolver Termination Date; (b) the date on which Borrowers terminate the Revolver Commitments pursuant to Section 2.1.4; or (c) the date on which the Revolver Commitments are terminated pursuant to Section 11.2.

  • ISDA Early Termination Date Party A has the right to designate an Early Termination Date pursuant to Section 6 of the Agreement;

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