CASES OF DEFAULT Sample Clauses

CASES OF DEFAULT. The following constitutes a Case of Default once it occurs and whatever the reason be it attributable to BACOU USA or not: * non-payment at its due date of an amount due in principle, interest, commission, expenses or incidental expenses by BACOU USA in performance of the Credit Line, should it not be remedied within five days following the request made by BNP in this sense to BACOU USA; * non-compliance by BACOU USA with another commitment or covenant under the terms of the Credit Line; * any representation by BACOU USA contained in Article VIII of the Credit Line or subsequently renewed proving to be inaccurate; * any debt of BACOU USA or the GUARANTOR under another contract becoming repayable or callable prior to its normal due date following foreclosure of the date for payment opposed due to default; * any measure taken with regard to BACOU USA or the GUARANTOR for out-of-court settlement, court-ordered re-organisation, court-ordered redress or court-ordered liquidation or any other analogous measure or proceedings, with the exception of cases of liquidation or dissolution or BACOU USA the terms and conditions of which have been approved by BNP; * significative changes in the opinion of BNP, in the shareholding of BACOU USA, including nationalisation of BACOU USA; * the occurence of an unlawful act for BACOU USA in performing any one of its obligations under the Credit Line; * the occurence of any decision or event in the United States of America or in another county through which the payments are made, that constitutes or could constitute an obstacle to payment by BACOU USA of any amount due to BNP under the present Credit Line, including decisions on foreign exchange control or embargo; * the Guarantee specified in Article XVI ceased to be valid or becomes unenforceable for any reason whatsoever. At the time of the occurence of any one of the Cases of Default, BNP shall be entitled to pronounce immediate early repayment and payment of all sums under the Credit Line.
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CASES OF DEFAULT. 7.1 Failure to pay or incomplete payment of loan amount by the «Borrower» according to schedule payment.
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CASES OF DEFAULT. Defaults (each of which is a DEFAULT EVENT): (i) filing of a voluntary bankruptcy or insolvency claim or filing an application for registration under any bankruptcy law by any remington Party or REIT; (ii) consent to any forced petition in the event of bankruptcy or to the fact that, within ninety (90) days from the date of its entry, any order approving a forced petition lodged by a remington party or reit party has not been released; (iii) entering an order; a judgment or decree held by any court of competent jurisdiction, on application by a creditor who decides on one of the parties to Remington or the REIT, as bankrupt or insolvent, or by approving a petition aimed at reorganise or appointing all or a substantial part of that party, and such order, judgment or decree remains unchanged and remains for ninety (90) days or more; (iv) the appointment of a beneficiary to any of the Remington Parties or to the REIT Parties in all or any relevant part of it; (v) the failure by either of the Reit Parties to make any payments due in accordance with the provisions of this Agreement within thirty (30) days of the written notification from the Remington Parties indicating the non-compliance of those obligations with reasonable specificity as to when such payment is due; (vi) failure by any of the Remington Parties or reit parties to comply, comply with, comply with, or fulfil any other <PAGE>covenants, obligations, obligations or conditions,</PAGE> as specified in -8– in this agreement, and the continuity of such default thirty (30) days after the written notification of that failure; however, if any, if any:cannot be cured in as thirty (30) days and, if applicable, Remington's hand or REIT hand, begins to cure the failure of such a commitment within as thirty (30) days and then diligently and quickly proceeds to cure the same, the following thirty (30) days period shall be extended as long as it requires the Remington party or the REIT party, where appropriate, to exercise due diligence to cure such defaults , it has been agreed that such an extension shall not exceed one hundred and twenty (120) days; or (vii) the occurrence of any default of Remington Affiliates under any Remington Transaction Document accepted by a REIT affiliate that continues beyond all applicable grace and treatment periods specified there. (b)
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CASES OF DEFAULT. The entire debit balance arising from the loan granted under this contract shall become due and payable forthwith without the need to give any notice or warning or to take any other legal action in any of the following cases:
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Related to CASES OF DEFAULT

  • Waiver of Defaults and Events of Default (a) The Noteholders of a majority of the Note Balance of the Controlling Class may waive any Default or Event of Default, except an Event of Default (i) in the payment of principal of or interest on any of the Notes (other than an Event of Default relating to failure to pay principal due only by reason of acceleration) or (ii) in respect of a covenant or provision of this Indenture that cannot be amended, supplemented or modified without the consent of all Noteholders.

  • Waiver of Events of Default The Holders representing at least 66% of the Voting Rights affected by a default or Event of Default hereunder may waive such default or Event of Default; provided, however, that (a) a default or Event of Default under clause (i) of Section 7.01 may be waived only by all of the Holders of Certificates affected by such default or Event of Default and (b) no waiver pursuant to this Section 7.04 shall affect the Holders of Certificates in the manner set forth in Section 11.01(b)(i) or (ii). Upon any such waiver of a default or Event of Default by the Holders representing the requisite percentage of Voting Rights affected by such default or Event of Default, such default or Event of Default shall cease to exist and shall be deemed to have been remedied for every purpose hereunder. No such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon except to the extent expressly so waived.

  • Notice of Defaults and Events of Default As soon as possible and in any event within ten (10) days after the occurrence of each Default or Event of Default, a written notice setting forth the details of such Default or Event of Default and the action which is proposed to be taken by the Borrower with respect thereto;

  • 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.

  • ACTS OF DEFAULT Each of the following shall be deemed a default by Lessee and a breach of this Lease:

  • Notification of Defaults and Events of Default Each Lender hereby agrees that, upon learning of the existence of a Default or an Event of Default, it shall promptly notify the Administrative Agent thereof. The Administrative Agent hereby agrees that upon receipt of any notice under this §14.10 it shall promptly notify the other Lenders of the existence of such Default or Event of Default.

  • No Events of Default No Event of Default has occurred and is continuing nor has any event occurred which, with the giving of notice or the passage of time, or both, would constitute an Event of Default.

  • Lease Events of Default The following events shall constitute Lease Events of Default hereunder (whether any such event shall be voluntary or involuntary or come about or be effected by operation of law or pursuant to or in compliance with any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body) and each such Lease Event of Default shall be deemed to exist and continue so long as, but only as long as, it shall not have been remedied:

  • Events of Default; Waiver The Holders of a Majority in liquidation amount of Preferred Securities may, by vote, on behalf of the Holders of all of the Preferred Securities, 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 Preferred Securities Guarantee, but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon.

  • 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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