Default by Borrower. Upon the occurrence of any event of default under the Loan, Administrative Agent may accelerate payment under the Loan and/or under any note or notes evidencing the Loan, and shall institute such legal proceedings and take such other actions (“Enforcement Actions”) as are in its opinion necessary and appropriate to collect the Debt then due under the Loan, to enforce the security therefor, and to protect and preserve the respective rights and interests of Lender and the Participants. If Lender and Participants are unable to recover from Borrower the entire amount of fees, costs and expenses of all Enforcement Actions, then each Participant shall contribute to such portion as is not recovered from Borrower, ratably in accordance with its Participant Share.
Default by Borrower. (i) Bank may assume (unless it has actual knowledge to the contrary) that any representations made by a Borrower in connection with any Loan are true, that no event which is or may become an Event of Default (as defined in the applicable MSLA) has occurred and that a Borrower has complied with its obligations under the applicable MSLA. Subject to Sections 5(f)(i)-(ii) and Sections 7(b)-(c) hereof, Bank shall have no responsibility for any breach of any obligation by any Borrower under or in connection with any MSLA or Loan. Bank shall have no responsibility for the accuracy or completeness of any information supplied by any Borrower. Bank shall not be liable as a result of taking or omitting to take any action, provided that Bank shall have carried out its responsibilities as lending agent hereunder in good faith. (ii) If any Borrower with respect to any Loan effected pursuant hereto and pursuant to the applicable MSLA fails to return any Securities on Loan when due thereunder for reasons other than relating to the solvency of the Borrower, Bank shall then, in addition to taking whatever action may be required by Section 7(c) hereof, take whatever action it deems appropriate in accordance with general market practice and Bank’s reasonable judgment, including, but not necessarily limited to, claiming compensation from such Borrower on behalf of Lender in the event a trade executed by Lender fails on account of such Borrower’s failure timely to have returned Securities on Loan or, where Bank deems it necessary, such other action as may be permitted by the applicable MSLA. (iii) If any Borrower with respect to any Loan effected pursuant hereto and pursuant to the applicable MSLA fails to return any Securities on Loan when due thereunder for reasons relating to the solvency of the Borrower, Bank shall then, in addition to taking whatever action may be required by Section 7(c) hereof, take such action as its deems appropriate in accordance with Bank’s reasonable judgment under the applicable MSLA.
Default by Borrower. If a Default exists, Guarantor shall pay the amount of the Guaranteed Debt then due and payable to Agent and Lenders on demand and without (a) further notice of dishonor, to Guarantor, (b) any prior notice to Guarantor of the acceptance by Agent or Lenders of this Guaranty, (c) any notice having been given to Guarantor prior to such demand of the creating or incurring of such indebtedness,
Default by Borrower. Bank shall have no responsibility or liability to Lender or Agent for any breach of any obligation by any Borrower under or in connection with any Borrowing Agreement relating to such borrowing or in any other way in respect of any Loan except to the extent the breach by Borrower is the direct result of or is directly caused by the failure to exercise reasonable care, bad faith, negligence, fraud, or willful misconduct of Bank. In particular, and without limiting the generality of the foregoing, Bank shall have no responsibility or liability in respect of any failure by a Borrower to perform its obligation to return any Security on Loan, to post initial Collateral or Additional Collateral for any Loan, or to make any payment in respect of any Distribution on Securities on Loan or with respect to any sale fail if compensation is owed by Lender on account of a failure by a Borrower (or Agent) to return securities in a timely manner; except to the extent the failure by the Borrower (or Agent) is the direct result of or is directly caused by the negligence, failure to exercise reasonable care, fraud, bad faith or willful misconduct on the part of the Bank.
Default by Borrower. If Borrower becomes insolvent or bankrupt, this Agreement shall remain in full force and effect. Any default by Borrower under the terms of the Subordinated Indebtedness also shall constitute an event of default under the terms of the Superior Indebtedness in favor of Lender.
Default by Borrower. (1) Chase may assume (unless it has actual knowledge to the contrary) that any representations made by a Borrower in connection with any Loan are true, that no event which is
Default by Borrower. If a Default exists, Guarantor shall pay the amount of the Guaranteed Debt then due and payable to Agent and Lenders on demand and without (a) further notice of dishonor, to Guarantor, (b) any prior notice to Guarantor of the acceptance by Agent or Lenders of this Guaranty, (c) any notice having been given to Guarantor prior to such demand of the creating or incurring of such indebtedness, or (d) notice of intent to accelerate or notice of acceleration to Guarantor or Borrower. To enforce such payment by Guarantor it shall not be necessary for Agent or Lenders to first or contemporaneously institute suit or exhaust remedies against Borrower or others liable on such indebtedness, or to enforce Rights against any security or collateral ever given to secure such indebtedness.
Default by Borrower. (i) Chase may assume (unless it has actual knowledge to the contrary) that any representations made by a Borrower in connection with any Loan are true, that no event which is or may become an Event of Default (as defined in the applicable MSLA) has occurred and that a Borrower has complied with its obligations under the applicable MSLA. Except as provided in Sections 5(f) and 7(b)-(c) (1) Chase shall have no responsibility for any breach of any obligation by any Borrower under or in connection with any MSLA or Loan, (2) Chase shall have no responsibility for the accuracy or completeness of any information supplied by any Borrower, and (3) Chase shall not be liable as a result of taking or omitting to take any action in respect of the foregoing, provided that Chase shall not have been negligent in carrying out its responsibilities hereunder. (ii) If any Borrower with respect to any Loan effected pursuant hereto and pursuant to the applicable MSLA fails to return any Securities on Loan when due thereunder for reasons other than relating to the solvency of the Borrower, Chase shall then, in addition to taking whatever action may be required by Section 7(c), take whatever action its deems appropriate in accordance with general market practice and Chase's reasonable judgment, including, but not necessarily limited to, claiming compensation from such Borrower on behalf of Lender in the event a trade executed by Lender fails on account of such Borrower's failure timely to have returned Securities on Loan or, where Chase deems it necessary, such other action as may be permitted by the applicable MSLA, including collecting any applicable penalties or fines. (iii) If any Borrower with respect to any Loan effected pursuant hereto and pursuant to the applicable MSLA fails to return any Securities on Loan when due thereunder for reasons relating to the solvency of the Borrower, Chase shall then, in addition to taking whatever action may be required by Section 7(c), take such action as its deems appropriate in accordance with Chase's reasonable judgment under the applicable MSLA. Section 7
Default by Borrower. Borrower shall default in the payment or performance of any of the Obligations guarantied hereby, after giving effect to any applicable notice and cure provisions.
Default by Borrower. The occurrence of any one or more of the following shall constitute a “Default” as such term is used herein:
