Default by the Sample Clauses

Default by the. Borrower In the payment of any obligation, whether direct or contingent, for borrowed money or in the performance or observance of the terms of any instrument pursuant to which such obligation was created or securing such obligation;

Default by the. Operator If the Participant acting as Operator fails to pay in full its share of any Invoice or Advance by the due date in accordance with paragraph 4.4 or paragraph 4.6 of the Accounting Procedure or is in Default (as defined in the Decommissioning Security Agreement) then the Non-Operator having the largest Percentage Interest (and in the event of two or more such Non-Operators with identical Percentage Interests that Non-Operator having held such Percentage Interest for the longest time) shall be entitled to and shall exercise all of the powers of the Operator under this clause 17 in respect of such default, including 82 A power of attorney is included as an option in order to give clear authority to the operator to enter into sale transactions in respect of production under clause 17.4 as agent for the defaulting party swiftly, without reliance on an insolvency practitioner, The operator may also need to execute transfer documents, including deeds, on behalf of the defaulting party if forfeiture or transfer ensues. If the power of attorney option is used, the Agreement will need to be executed as a deed.

Default by the. Borrower in making a conversion or continuation after the Borrower has given a notice thereof, (iii) default by the Borrower in making any payment after the Borrower has given a notice of payment, (iv) attempt by Borrower to revoke in whole or part any irrevocable notice given pursuant to Section 2.4(e) hereof; or (v) breach of or default by any obligor in the performance or observance of any covenant or condition in the Note, any separate security, guarantee or suretyship agreement between the Bank and any obligor, or any other document executed and delivered to the Bank by any obligor in connection with the indebtedness evidenced by the Note. If the Bank sustains any such loss or expense, it shall from time to time notify the Borrower of the amount determined in good faith by the Bank (which determination shall be conclusive) to be necessary to indemnify the Bank for such loss or expense. Such amount shall be due and payable by the Borrower ON DEMAND. This covenant shall survive termination of this Agreement and payment of the outstanding Notes.

Default by the. Borrower under any other agreement or indenture for the borrowing of money or the guarantee of a third party's obligations.

Default by the. Lessee under the contract agreement for services, after notice and opportunity to cure the default as provided in the contract agreement for services.