Default of the Borrower Sample Clauses

Default of the Borrower. 10.1. The Loan Originator and Mintos shall not be responsible for the default of the Borrower including late payments.
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Default of the Borrower. 9.1. The Loan Originator and Viainvest shall not bear the responsibility for the default of the Borrower including late payments.
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Default of the Borrower. 10.1. The Loan Originator and REDLEE shall not be responsible for the default of the Borrower including late payments.
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Default of the Borrower. The Borrower is otherwise in material breach of its obligations under this Agreement including a representation, warranty or covenant or the agreements constituting the Royalty Collateral or any agreement with respect to the Royalty Collateral or Lenders right to receive the Royalty Collateral ceases to be in full force and effect.
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Default of the Borrower. In the event of a default, the Borrower authorizes the following privileges for recovery to the EEA: In the case of a local Government Organization: Pursuant to MGL X.0X, X.00X XXX 000 XXX 0.00, XXX may request of the Treasurer of the Commonwealth to withhold local aid payments in an amount equal to the principal amount in arrears including any interest and penalty charges due, further requesting that said funds shall be forwarded to EEA in resolution of the loan until all principal, interest and fees are fully repaid to EEA. In the case of a Charitable Organization: EEA may request of the Treasurer of the Commonwealth to withhold reimbursement payments on other contracts held by the organization with the Commonwealth, and further requesting that payments of such funds in an amount equal to the outstanding loan balance any interest and penalty charges due be forwarded to EEA in resolution of the loan. Further, a lien on any property held by the organization may also be filed and held until the full amount of the loan and any fees and interest levied is resolved. In the case of a private owner: EEA may request of the Treasurer of the Commonwealth to withhold tax refunds as well as reimbursement payments on other contracts held by the owner with the Commonwealth, and further requesting that payments of such funds in an amount equal to the outstanding loan balance any interest and penalty charges due be forwarded to EEA in resolution of the loan. Further, a lien on any property held by the organization may also be filed and held until the full amount of the loan and any fees and interest levied is resolved.
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Default of the Borrower. 10.1. The Assignor, the Loan Originator and Tech Consultancy Management Partners shall not be responsible for the default of the Borrower including late payments.
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Default of the Borrower. Upon failure by the Borrower to pay punctually any Indebtedness when due, whether at maturity, by acceleration, after notice of prepayment or otherwise, the Guarantor shall forthwith on demand pay the amount not so paid immediately following such demand by the Agent at its offices at Eleven Xxxxxxx Xxxxxx, Xxx Xxxx, XX 00000. Other than the demand referred to in the immediately preceding sentence, the Guarantor hereby waives notice of acceptance of this Agreement and of any Indebtedness to which it applies or may apply. The Guarantor further waives presentation and demand for payment of the Borrower’s Indebtedness, notice of dishonor and of nonpayment, notice of intention to accelerate, notice of acceleration, protest and notice of protest, collection or institution of any suit or other action by the Agent in collection thereof, including any notice of default in payment thereof or other notice to, or demand for payment thereof on any party. To the fullest extent permitted by applicable law, the Guarantor waives any defense based on or arising out of any defense of the Borrower or any other Guarantor or the unenforceability of the Indebtedness or any part thereof from any cause, or the cessation from any cause of the liability of the Borrower or any other Guarantor, other than the indefeasible payment in full in cash of all the Indebtedness.
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Default of the Borrower 
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Related to Default of the Borrower

  • Borrower Default Unless the Administrative Agent shall have received notice from Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the Issuing Bank hereunder that Borrower will not make such payment, the Administrative Agent may assume that Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the Issuing Bank, as the case may be, the amount due. In such event, if Borrower has not in fact made such payment, then each of the Lenders or the Issuing Bank, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or the Issuing Bank with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation.

  • Default of Indebtedness No Borrower is in default in the payment of the principal of or interest on any Indebtedness or under any instrument or agreement under or subject to which any Indebtedness has been issued and no event has occurred under the provisions of any such instrument or agreement which with or without the lapse of time or the giving of notice, or both, constitutes or would constitute an event of default thereunder.

  • Default of Tenant (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any other charges or amounts under this Lease when due or shall default in complying with its obligations under Subsection 6.1.11 of this Lease and if any such default shall continue for ten (10) days after notice from Landlord designating such default, or (II) if as promptly as possible but in any event within thirty (30) days after notice from Landlord to Tenant specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified (or if such breach or default cannot be cured within said time, then within such additional time (not to exceed an additional thirty (30) days) as may be necessary if within said thirty (30) days Tenant has commenced and is diligently pursuing the remedies necessary to cure such breach or default); or (b) if any assignment shall be made by Tenant for the benefit of creditors; or (c) if Tenant's leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant's leasehold interest or Tenant's other property, including said leasehold interest, and shall not be discharged within ten (10) days thereafter (or if such lien cannot be discharged within said time, then within such additional time (not to exceed an additional thirty (30) days) as may be necessary if within said ten (10) days Tenant has commenced and is diligently pursuing the remedies necessary to discharge such lien); or (e) if a petition shall be filed by Tenant for liquidation, or for reorganization or an arrangement under any provision of any bankruptcy law or code as then in force and effect; or (f) if an involuntary petition under any of the provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord's approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than once to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a "Default of Tenant"), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter give notice to Tenant terminating this Lease and the term hereof, which notice shall specify the date of termination, whereupon on the date so specified, the term of this Lease and all of Tenant's rights and privileges under this Lease shall expire and terminate but Tenant shall remain liable as hereinafter provided.

  • Default or Event of Default No Default or Event of Default hereunder has occurred or is continuing or will occur as a result of the giving effect hereto.

  • Notice of Default or Event of Default Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest, fees, and expenses required to be paid to Agent for the account of the Lenders and, except with respect to Events of Default of which Agent has actual knowledge, unless Agent shall have received written notice from a Lender or Borrowers referring to this Agreement, describing such Default or Event of Default, and stating that such notice is a “notice of default.” Agent promptly will notify the Lenders of its receipt of any such notice or of any Event of Default of which Agent has actual knowledge. If any Lender obtains actual knowledge of any Event of Default, such Lender promptly shall notify the other Lenders and Agent of such Event of Default. Each Lender shall be solely responsible for giving any notices to its Participants, if any. Subject to Section 15.4, Agent shall take such action with respect to such Default or Event of Default as may be requested by the Required Lenders in accordance with Section 9; provided, that unless and until Agent has received any such request, Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable.

  • No Default or Event of Default No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the Extension of Credit to be made on such date unless such Default or Event of Default shall have been waived in accordance with this Agreement.

  • Default on Indebtedness Failure of Borrower to make any payment when due on the Loans.

  • Notice of Event of Default If the Mortgagee shall have Actual Knowledge of an Event of Default or of a Default arising from a failure to pay Rent, the Mortgagee shall give prompt written notice thereof to the Owner Trustee, the Owner Participant, Lessee, and each Note Holder. Subject to the terms of Sections 2.13, 4.03, 4.04, 4.08, 5.02 and 5.03 hereof, the Mortgagee shall take such action, or refrain from taking such action, with respect to such Event of Default or Default (including with respect to the exercise of any rights or remedies hereunder) as the Mortgagee shall be instructed in writing by a Majority in Interest of Note Holders. Subject to the provisions of Section 5.03, if the Mortgagee shall not have received instructions as above provided within 20 days after mailing notice of such Event of Default to the Note Holders, the Mortgagee may, subject to instructions thereafter received pursuant to the preceding provisions of this Section 5.01, take such action, or refrain from taking such action, but shall be under no duty to take or refrain from taking any action, with respect to such Event of Default or Default as it shall determine advisable in the best interests of the Note Holders; PROVIDED, HOWEVER, that the Mortgagee may not sell the Aircraft or any Engine without the consent of a Majority in Interest of Note Holders. For all purposes of this Trust Indenture, in the absence of Actual Knowledge on the part of the Mortgagee, the Owner Trustee or the Owner Participant, the Mortgagee, the Owner Trustee or the Owner Participant, as the case may be, shall not be deemed to have knowledge of a Default or an Event of Default (except, in the case of the Mortgagee, the failure of Lessee to pay any installment of Basic Rent within one Business Day after the same shall become due, if any portion of such installment was then required to be paid to the Mortgagee, which failure shall constitute knowledge of a Default) unless notified in writing by Lessee, the Owner Trustee, the Owner Participant or one or more Note Holders.

  • Default; Breach A “Default” is defined as a failure by the Lessee to comply with or perform any of the terms, covenants, conditions or Rules and Regulations under this Lease. A “Breach” is defined as the occurrence of one or more of the following Defaults, and the failure of Lessee to cure such Default within any applicable grace period:

  • 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.

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