Consequences of Default Sample Clauses

Consequences of Default. If an Event of Default described in Section 9.1(f) or 9.1(g) shall occur and be continuing, then in any such case, the Commitments shall be immediately terminated and, if any Loans shall have been made, the principal of and interest on the Loans shall become immediately due and payable, if any Drafts have been accepted, all outstanding Acceptance Advances shall become immediately due and payable, and if any Letter of Credit has been issued, an amount equal to the Letter of Credit Usage shall become immediately due and payable all without notice or demand of any kind. If any other Event of Default shall occur and be continuing, then in any such case and at any time thereafter so long as any such Event of Default shall be continuing, the Agent may, and shall upon the request of Majority Lenders, immediately terminate the Commitments, and if Loans shall have been made, the Agent may, and shall upon the request of Majority Lenders, declare the principal of and the interest on the Loans and all other sums payable by the Borrower hereunder or under any other Loan Document to be immediately due and payable, if any Drafts have been accepted, the Agent may, and shall upon the request of Majority Lenders, declare the outstanding Acceptance Advances immediately due and payable, and if any Letter of Credit has been issued the Agent may, and on the request of Seafirst, shall declare an amount equal to the Letter of Credit Usage immediately due and payable whereupon the same shall become immediately due and payable all without protest, presentment, notice, or demand, all of which the Borrower expressly waives. Amounts paid or received hereunder in respect of issued and outstanding Letters of Credit which exceed amounts paid by Seafirst or a Seafirst Affiliate under such Letters of Credit shall be held (and applied) as cash collateral to secure the performance of all obligations of the Borrower owing to Seafirst and any Seafirst Affiliate in respect of Letter of Credits. Agent shall use its best efforts to provide same day notice of acceleration to Borrower, provided, however, that failure to give such notice shall not affect the rights of the Agent and Lenders hereunder. The Agent and Lenders may exercise or pursue any remedy or cause of action permitted by this Agreement, the Notes, any other Loan Document or applicable law. The rights and remedies provided by law, this Agreement, the Notes, and the other Loan Documents are cumulative and not exclusive, and the exercis...
Consequences of Default. If an Event of Default shall occur, Lender:
Consequences of Default. 1. In the event of any default as above the Bank shall have the right:-
Consequences of Default. If and whenever the Landlord is entitled to re-enter the Leased Premises, the Landlord may terminate this Lease and the Term by giving written notice of termination to the Tenant or by posting notice of termination in the Leased Premises, and in such event the Tenant will forthwith vacate and surrender the Leased Premises. Alternatively, the Landlord may from time to time without terminating the Tenant's obligations under this Lease, make alterations and repairs considered by the Landlord necessary to facilitate a sub-letting and sub-let the Leased Premises or any part thereof as agent of the Tenant for such term or terms and at such rent or rents and upon such other terms and conditions as the Landlord in its sole discretion considers advisable. Upon each subletting all rent and other monies received by the Landlord from the sub-letting shall be applied first to the payment of indebtedness other than Rent due hereunder from the Tenant to the Landlord, second to the payment of costs and expenses of the sub-letting including brokerage fees and solicitors fees and the cost of alterations and repairs, and third to the payment of Rent due and unpaid hereunder. The residue, if any, shall be held by the Landlord and applied in payment of future Rent as it becomes due and payable. If the Rent received from the sub-letting during a month and any surplus then held by the Landlord to the credit of the Tenant is less than the Rent to be paid during that month by the Tenant, the Tenant will pay the deficiency to the Landlord. The deficiency will be calculated and paid monthly. No re-entry by the Landlord will be construed as an election on its part to terminate this Lease unless a written notice of that termination is given to the Tenant or posted as aforesaid. Despite a subletting without termination, the Landlord may elect at any time to terminate this Lease for a previous breach. If the Landlord so terminates this Lease, the Tenant shall pay to the Landlord on demand therefor:
Consequences of Default. The Bank may without prejudice to any other rights of the Bank (which will continue to be in force concurrently with the following), at any time after the happening of an Event of Default:
Consequences of Default. If any Event of Default shall occur and be continuing, then in any such case and at any time thereafter so long as any such Event of Default shall be continuing, Lender at its option (and without prior notice to Borrower) immediately may terminate its commitment with respect to the Revolving Credit Facility. In addition, in the event of an uncured Event of Default, Lender at its option may declare the principal of and the interest on the Note and all other sums payable by Borrower under this Agreement or under any of the Loan Documents to be immediately due and payable (with interest accruing thereon at the Default Rate), whereupon the same shall become immediately due and payable without protest, presentment, notice, or demand, all of which Borrower expressly waives. Furthermore, upon the occurrence of an Event of Default pursuant to Section 10.1(g) of this Agreement, all of the Obligations immediately shall be due and payable (with interest accruing and payable thereon at the Default Rate) and Lender’s commitment in respect of the Revolving Credit Facility shall terminate.
Consequences of Default. If an Event of Default occurs and is continuing, then EBRD may at its option, by notice to the Borrower, declare all or any portion of the principal of, and accrued interest on, the Loan (together with any other amounts accrued or payable under this Agreement) to be, and the same shall thereupon become (anything in this Agreement to the contrary notwithstanding), either:
Consequences of Default. If Tenant(s) is in default under this Agreement, Landlord may terminate the Agreement by giving written notice to Tenant(s) in accordance with local law. The Agreement will end on the date given in Landlord’s notice to Tenant(s). On or before that date, Tenant(s) must return all keys and leave the Premises. However, Tenant(s) remains responsible for all unpaid rent, additional rent and other charges as specified in this Agreement. If Tenant’s Agreement is terminated or Tenant(s) fails to pay rent, additional rent or other charges in a timely manner, Landlord reserves the right to turn Tenant(s) over to a collection agency and/or bring legal action against Tenant(s) to recover possession of the Premises and any monies owed to Landlord.
Consequences of Default. Immediately following any Act of Default, OTS may, in its sole and absolute discretion, do any, some or all of the following by written notice to the Processor: