Default A. I will be in default of this lease if: (a) I fail to pay any amount due you within 60 days of the due date. (b) The Equipment becomes involved in any civil or criminal actions or suits or is seized by law enforcement agencies due to my neglect or misconduct. (c) I (or any guarantor of my obligation hereunder) file or there is filed against me (or any guarantor of my obligation hereunder) a petition in U.S. Bankruptcy Court or I (or any guarantor of my obligation hereunder) have made an assignment for the benefit of creditors. (d) The Equipment is lost, stolen or destroyed, if the loss is not covered by the loss or destruction waiver.
Default A. A "Default" shall exist hereunder by Licensee if Licensee fails in any material respect to be in compliance with the terms of Paragraphs 2, 4, 5, 6, 7 or 8 (an "Event of Default") and such failure, if curable, is not cured within ten (10) calendar days following notice of such failure from IMS. b. If IMS alleges an Event of Default by Licensee, and Licensee in good faith disputes the occurrence of such Event of Default, IMS agrees to continue to provide Data hereunder until such dispute is resolved by the parties or by a determination through arbitration as provided in Paragraph 16, without prejudice to any remedies available to IMS.
Default A. The term “Default” shall mean the failure of either Party to perform any obligation in the time or manner provided in this Agreement. No Default shall exist where such failure to discharge an obligation (other than the payment of money) is the result of Force Majeure as defined in this Agreement or the result of an act or omission of the other Party. Upon a Default, the non-defaulting Party shall give written notice of such Default to the defaulting Party. Except as provided in Section 10.6.B, the defaulting Party shall have thirty
Default A continued
Default A. Without prejudice to any right of Lender to require payment on demand or to decline to make any requested Advance, each of the following shall be an event of default: (i) Borrower fails to make any payment when due (ii) Borrower fails to perform or comply with any term, covenant or obligation in this note or any agreement related to this note, or in any other agreement or loan Borrower has with Lender. (iii) Borrower defaults under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Xxxxxxxx's ability to repay this note or perform Borrower's obligations under this note or any related documents. (iv) Any representation or statement made or furnished to Lender by Borrower or on Borrower's behalf is false or misleading in any material respect. (v) Xxxxxxxx becomes insolvent, a receiver is appointed for any part of Xxxxxxxx's property, Xxxxxxxx makes an assignment for the benefit of creditors, or any proceeding is commenced either by Borrower or against Borrower under any bankruptcy or insolvency laws. (vi) Any creditor tries to take any of Xxxxxxxx's property on or in which
Default A. Events of Default The following shall each constitute an "Event of Default" hereunder: (a) The failure of the Borrower to pay any installment of principal on any Note or reimbursement obligations in respect of any Letter of Credit on the date when due and payable; or (b) The failure of the Borrower to pay any installment of interest, fees, expenses or other amounts payable under any Loan Document or otherwise to the Administrative Agent with respect to the loan facilities established hereunder within three Business Days of the date when due and payable; or (c) The use of the proceeds of any Loan in a manner inconsistent with or in violation of Section 2.17; or (d) The failure of the Borrower to observe or perform any covenant or agreement contained in Sections 7.3, 7.11, 7.12, 7.13, 7.14 or Section 8; or (e) The failure to observe or perform any other term, covenant, or agreement contained in any Loan Document and such failure shall have continued unremedied for a period of 30 days after the Borrower shall have obtained knowledge thereof; or (f) Any representation or warranty made in any Loan Document or in any certificate, report, opinion (other than an opinion of counsel) or other document delivered or to be delivered pursuant thereto, shall prove to have been incorrect or misleading (whether because of misstatement or omission) in any material respect when made; or (g) Any obligation or obligations in an aggregate Consolidated amount of $1,000,000 or more of the Borrower (other than its obligations under the Notes) or any of its Subsidiaries, whether as principal, guarantor, surety, lessee or other obligor, for the payment of any Indebtedness or operating leases (i) shall become or shall be declared to be due and payable prior to the expressed maturity or expiry thereof, or (ii) shall not be paid when due or within any grace period for the payment thereof, or (iii) any holder of any such obligation shall have the right, immediately or with the passage of time or the giving of notice, to declare such obligation due and payable prior to the expressed maturity thereof; (h) The Borrower or any of its Subsidiaries shall (i) make a general assignment for the benefit of creditors, (ii) generally not be paying its debts as such debts become due, (iii) admit in writing its inability to pay its debts as they become due, (iv) file a voluntary petition in bankruptcy, (v) file any petition or answer seeking for itself any reorganization, arrangement, composition, re...
Default A. Notwithstanding any other provision herein, the following shall each constitute an event of default: a party or if the obligations of a party are guaranteed by another party whether under this agreement or otherwise, the guarantor of such party (each or either a "Non-Performing Party" shall (I) default in the payment or performance of any material obligation to the other party (the "Performing Party") under this or any other contract, and such default shall continue for three Business Days after Notice of such Default to the Non-Performing Party; (II) file a petition or otherwise commence or authorize the commencement of a proceeding or case under any bankruptcy, reorganization, or similar law for the protection of creditors or have any such petition filed or proceeding commenced against it; (III) otherwise become bankrupt or insolvent (however evidenced); (IV) be unable to pay its debts as the fall due by acceleration or otherwise; (V) merge or become consolidated with any other entity or transfer, by any means, all or substantially all of its assets to another entity and the creditworthiness of the resulting, surviving or transferee entity is materially weaker than that of the Non-Performing Party immediately prior to such action as reasonably determined by the Performing Party; (VI) fails to give adequate security for, or assurance or, its ability to perform its obligations hereunder or under any other contract within two business days or a reasonable request therefor from the Performing Party; or (VII) disaffirm, disclaim, repudiate or reject, in whole or in part, or challenge the validity of the Guaranty issued by the Guarantor.
Default A. In the event that the Licensee, on behalf of the Occupying Agency, shall fail to pay the License Fee or any part thereof when due or in the event that the Licensee or the Occupying Agency shall violate or fail to perform any of the covenants hereof on the part of the Licensee or the Occupying Agency to be performed, in both such circumstances after notice of such failure or violation have been given as hereinbelow provided (each such event shall be hereinafter referred to as a “Default”), the Licensor may elect to either:
Default A. In the event that: AND BANKRUPTCY (i) The LESSEE shall default in the payment of any installment of rent or other sum herein specified and such default shall continue for five (5) days after written notice thereof; or
Default A. If Tenant shall fail to pay any part of the rent herein provided or any other sum required by this lease to be paid to Landlord at the times or in the manner provided, or if default shall be made in any of the other covenants or conditions on its part agreed to be performed, besides other rights or remedies it may have, under this lease or otherwise, if such failure to pay rent or such other sum or such default shall continue for ten (10) days after written notice thereof from Landlord to Tenant, then Landlord, may either (i) terminate this lease, or (ii) re-enter the premises by summary proceedings or otherwise, remove all persons and property from the premises without liability to any person for damages sustained by reason of such removal, and re-let the premises at such rent and upon such other terms and conditions as Landlord in its sole discretion may deem advisable. In such event, Tenant shall remain liable for the monthly rent reserved in this lease, plus the reasonable cost of obtaining possession of and re-letting the premises and of any repairs and alterations necessary to prepare them for re-letting, less the rents received from such re letting, if any. Any and all monthly deficiencies so payable by Tenant shall be paid monthly on the date herein provided for the payment of rent. No such re-entry or taking possession of the premises by Landlord shall be construed as an election on its part to terminate this lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such re-letting without termination, Landlord may at any time thereafter elect to terminate this lease for such previous breach. Should Landlord at any time terminate this lease for any breach, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the premises, and including the worth at the time of such termination of the excess, if any, of the amount of rent and charges equivalent to rent reserved in this lease for the remainder of the stated term over the then reasonable rent value of the premises for the remainder of the stated term, all of which amounts shall be immediately due and payable from Tenant to Landlord.
