Default and Remedies Sample Clauses


Default and Remedies. If any of the following events of default occurs, the Bank may do one or more of the following: declare the Borrower in default, stop making any additional credit available to the Borrower, and require the Borrower to repay its entire debt immediately and without prior notice. If an event which, with notice or the passage of time, will constitute an event of default has occurred and is continuing, the Bank has no obligation to make advances or extend additional credit under this Agreement. In addition, if any event of default occurs, the Bank shall have all rights, powers and remedies available under any instruments and agreements required by or executed in connection with this Agreement, as well as all rights and remedies available at law or in equity. If an event of default occurs under the paragraph entitled Bankruptcy, below, with respect to the Borrower, then the entire debt outstanding under this Agreement will automatically be due immediately.


Default and Remedies. The following shall be a default under this Note and shall entitle the Lender to all of the rights and remedies specified herein or otherwise available under applicable law or in equity: (i) any failure to make any payment due under this Note when due or upon the failure to comply with any other terms and provisions of this Note, if such failures remain uncured for a period of ten (10) business days; (ii) a petition for relief in a bankruptcy court is filed by Vaccinogen or Vaccinogen applies for, consents to or acquiesces in the appointment of a trustee, custodian or receiver for Vaccinogen or any of its assets or property or make a general assignment for the benefit of its creditors or, in the absence of such application, consent or acquiescence, a trustee, custodian or receiver is appointed for Vaccinogen or for a substantial part of its assets or property and is not discharged within thirty (30) days thereafter; (iii) any bankruptcy, reorganization, debt arrangement or other proceeding or case under any bankruptcy or insolvency law or any dissolution or liquidation proceeding is instituted against Vaccinogen and if instituted against Vaccinogen is consented to or acquiesced in by Vaccinogen or remains undismissed for sixty (60) days thereafter; or (iv) Vaccinogen takes any action to authorize any of the actions described in subsection (ii) or (iii). Vaccinogen hereby waives presentment, demand for payment, notice of dishonor, notice of protest, and protest, and all other notices or demands in connection with the delivery, acceptance and performance of this Note.

Default and Remedies. The Buyer shall have the right, power and authority to do all things deemed necessary or advisable to enforce the provisions of this Guaranty and, in the event of default in the timely or complete performance or payment of any Obligation, the Buyer may institute or appear in such appropriate judicial proceedings as it deems most effectual to protect and enforce any of its rights hereunder, whether for the specific enforcement of any covenant or agreement in this Guaranty or in aid of the exercise of any power granted herein or in the Purchase Agreement, or to enforce any other proper remedy. Without limiting the generality of the foregoing, in the event of a default in payment of any Obligation when due, the Buyer may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against Guarantor and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of Guarantor, wherever situated. No remedy conferred upon or reserved to the Buyer herein is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Guaranty or now or hereafter existing at law or in equity.

Default and Remedies. If Lessee defaults in the payment of any sum of money to be paid under this Lease and such default continues for a period of ten (10) days after written notice to Lessee of such default or if Lessee fails to perform any covenant or condition required to be performed by Lessee, which failure shall not be remedied within ten (10) days after notice thereof by Lessor to Lessee or if Lessee shall dissolve, make or commit any act of bankruptcy or if any proceeding under any bankruptcy or insolvency statute or any laws relating to relief of debtors is commenced by Lessee or if any such proceeding is commenced against Lessee and same shall not have been removed within thirty (30) days of the date of the filing thereof or if a receiver, trustee or liquidator is appointed for Lessee or for all or a substantial part of Lessees assets with Lessees consent or, if without Lessees consent, the same shall not have been removed within thirty (30) days of the date of the appointment thereof or if an order, judgment or decree is entered by a court of competent jurisdiction and continues unpaid and in effect for any period of thirty (30) consecutive days without a stay of execution or if a writ of attachment or execution is levied on any car and is not discharged within ten (10) days thereafter, Lessor may exercise one or more of the following remedies with respect to the cars:

Default and Remedies. If any of the events specified in this Section 14 shall occur (herein individually referred to as an Event of Default), the Holder shall, so long as such condition exists (after giving effect to any applicable cure period set forth below), declare the entire outstanding principal balance and unpaid accrued interest hereon immediately due and payable, by notice in writing to the Maker.

Default and Remedies. Any failure to make any payment due under this Note when due or upon the failure to comply with any other terms and provisions of this Note shall be a default under this Note and shall entitle Lender to all of the rights and remedies specified herein or otherwise available under applicable law, without notice, any right to cure, or obligation to make demand for payment. Upon a default, the entire unpaid principal balance of this Note, together with all accrued but unpaid interest and other sums due hereunder shall immediately become due and payable in full and Lender shall have the right to bring suit for such amount and to exercise any other remedies available.

Default and Remedies. If I fail to make any payment when due in the manner required by Paragraph 7, I will be delinquent. If I (a) am delinquent, (b) file or have instituted against me a bankruptcy or insolvency proceeding or make any assignment for the benefit of creditors, or (c) in the event of my death, you may in your sole discretion deem me in default and accelerate the maturity of this Note and declare all principal, interest and other charges due under this Note immediately due and payable. If you deem me in default due to delinquency and if you exercise the remedy of acceleration, you will use reasonable efforts to provide prior notice of acceleration.


Default and Remedies. Section 5.01 Events of Default Section 5.02 Acceleration of Maturity; Rescission and Annulment Section 5.03 Collection of Indebtedness and Suits for Enforcement by Indenture Trustee. Section 5.04 Remedies; Priorities Section 5.05 Optional Preservation of the Trust Estate Section 5.06 Limitation of Suits Section 5.07 Unconditional Rights of Noteholders To Receive Principal and Interest Section 5.08 Restoration of Rights and Remedies Section 5.09 Rights and Remedies Cumulative Section 5.10 Delay or Omission Not a Waiver Section 5.11 Control By Noteholders Section 5.12 Waiver of Past Defaults Section 5.13 Undertaking for Costs Section 5.14 Waiver of Stay or Extension Laws Section 5.15 Sale of Trust Estate Section 5.16 Action on Notes

Default and Remedies (i) Any failure by Purchaser or Borrower, or both, to perform timely under this Agreement, or (ii) any representation or warranty made by Purchaser in this Agreement, any financial statement, or any statement or representation made in any other certificate, report or opinion delivered to Lender by Purchaser in connection with this Agreement proves to have been incorrect or misleading in any material respect when made, shall constitute an event of default (Event of Default) hereunder. In the event of an Event of Default hereunder, Lender may exercise any and all remedies available to it under this Agreement, the 2/1/05 Forbearance Agreement, at law, and in equity.

Default and Remedies. Section 7.1 Events of Default. The occurrence of any of the following events shall constitute an Event of Default under this Agreement and any other Credit Document: