Default by Lender. If any Lender defaults in performing or observing any of the terms, covenants or conditions to be performed or observed by it under this Agreement, the other, non-defaulting lender shall have the right to all available legal and equitable relief.
Default by Lender. If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.04(f), 2.05(d) or (e), 2.06(b), 2.17(d) or 10.03(c), then the Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Agent for the account of such Lender to satisfy such Lender's obligations under such Sections until all such unsatisfied obligations are fully paid.
Default by Lender. Lender shall be in default hereunder if it fails to loan to Borrower, in a timely manner and in accordance with the provisions of this Article I, those sums requested by Borrower.
Default by Lender. Should the Lender default in making the required payments for the securities, that is, within ten (10) business days of delivery of the Escrowed Property for 50% of the Loan Amount and a second advance within an additional ten (10) business days for the other 50% of the Loan Amount, the Borrower shall, after the default, send a notice thereof via certified U.S. mail, return receipt requested, to the Lender at its address of record in this Escrow Agreement, with copy thereof sent in identical manner to the Escrow Agent. The Lender may cure the default within three (3) working days after the receipt of said notice. A notice of cure shall be delivered to the Escrow Agent and to the Borrower via commercial overnight service to their respective addresses of record. After three (3) working days from the date said notice of default is received by the Escrow Agent and provided the Lender has not cured the default within the preceding three (3) working days, the Borrower shall deliver to the Escrow Agent a written demand of delivery of the Escrow Property accompanied by the Borrower's sworn affidavit from its President stating the date the Lender received the notice of default and that the Lender has not cured the default within the allowed period. If no notice of cure has been received by the Escrow Agent prior to the expiration of three working days after its receipt of the copy of the notice of default from the Borrower, the Escrow Agent is entitled to rely exclusively on the Borrower's demand and affidavit and shall without notice to the Lender and within three (3) working days from receipt of the notice and affidavit from the Borrower, either deliver the Escrow Property to the Borrower via certified U.S. mail, return receipt requested, or request the return of any Escrowed Property in the possession of Sun Trust, or its equivalent (in accordance with Paragraph 2. hereof), and upon receipt of same, delivered to the Borrower. A notice of cure received by the Escrow Agent after the expiration of the aforementioned three day working period shall be null and void ab initio. The Escrow Agent is hereby released from all liability to the Lender and the Borrower for delivery of the Escrow Property to the Borrower provided it has received the Borrower's written demand of delivery of the Escrow Property accompanied by the Borrower's sworn affidavit from its President stating the date the Borrower received the notice of default and that the Lender has not cured the defaul...
Default by Lender. On and at any time after the occurrence of any of the events below which is continuing the Company may, by notice to the Lender cancel the Facilities whereupon they shall immediately be cancelled and declare that all sums accrued or outstanding from the Lender to the Company be immediately due and payable:
Default by Lender. The Lender shall be considered to be in default of this Loan Agreement if the Principal Amount is not received by Borrower by the 15th calendar day following the date of this Loan Agreement. In the event of such default, the Borrower shall have the right to cause the shares issued to Lender to be cancelled immediately, without notice to Lender and without any further obligation by Borrower to Lender.
Default by Lender. It shall be a default under this Agreement if the Lender breaches any of the covenants or provisions of this Agreement and fails to cure such breach or to commence and diligently pursue such cure within 30 days after receipt of a Notice from the Authority specifying such breach.
Default by Lender. If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.04(d), 2.05(d) or (e), 2.06(b), 2.17(e) or 10.03(c), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), (i) apply any amounts thereafter received by the Administrative Agent for the account of such Lender and for the benefit of the Administrative Agent, the Swingline Lender or the Issuing Bank to satisfy such Lender’s obligations to it under such Section until all such unsatisfied obligations are fully paid and/or (ii) hold any such amounts in a segregated account over which the Administrative Agent shall have exclusive control as cash collateral for, and application to, any future funding obligations of such Lender under any such Section; in the case of each of clauses (i) and (ii) above, in any order as determined by the Administrative Agent in its discretion.
Default by Lender. Upon Lender's failure to accept the Prepayment ----------------- made in strict accordance with the terms of this Agreement and permit the Partner Transfers in accordance with the terms of this Agreement, Borrower shall have all remedies available at law and in equity, including without limitation, the right to seek specific performance of Lender's obligation to accept the Prepayment, to permit the Partner Transfers of partnership interests in the Borrower hereinabove described in the Recitals, and all other Lender's obligations on its part required to be performed under this Agreement at the Closing.
Default by Lender a. Pursuant to Paragraph 10(a) of this Agreement, FTA notifies the SBA Servicing Offices of Loans which are past due. SBA contacts the Lender to determine status of the Loans.
