Default Status. Tenant shall not be considered in default under this Lease until any applicable grace period has expired without the applicable event of default having been cured.
Default Status. Unless Physician elects to participate in additional membership categories pursuant to this Section 5(C), Physician shall be an Base Participation Contracting Member only.
Default Status. If the applicant fails to carry out provisions of the agreement and the City has unreimbursed costs or expenses resulting from such failure, the City shall call on the bond or cash deposit for reimbursement. If the amount of the bond or cash deposit exceeds cost and expense incurred by the City, it shall release the remainder. If the amount of the bond or cash deposit is less than the cost and expense incurred by the City, the applicant shall be liable to the City for the difference.
Default Status. Holder agrees not to declare Maker in default of Maker's financial obligations to Holder in connection with Maker's failure to timely make payment in accordance with the Extension or Amendment, and acknowledges that, as a result of this Second Amendment to Extension, no such default exists or has existed as of the date of this Second Amendment to Extension.
Default Status. In the event a property should go into default status and force Broker to prepare for Broker’s Agreement and Tenant’s Lease to be terminated, Broker shall increase the reserve account to $1000.00. The increase of reserves will be deducted from the monthly rent collected and held in the Trust Account as an additional reserve. In addition, Broker shall retain a $500.00 fee for monitoring the foreclosure sale date, and assisting the Tenant t hrough the process. The $500.00 fee to Broker shall be earned upon the Property completing the foreclosure process and the t ransfer of the deed to the bank or third party. OWNER UNDERSTANDS A PROPERTY FOR LEASE WHILE THE PROPERTY IS IN ANY FORECLOSURE PROCEEDING, WITHOUT WRITTEN DISCLOSURE, IS A DECEPTIVE TRADE PRACTICE PUNISHABLE BY BOTH CIVIL AND CRIM INAL PROCEEDINGS AND OR FINES. Owner: _____ Owner: _____
Default Status. Funding Recipient will be in default under this Funding Agreement if any of the following occur: Substantial breaches of this Funding Agreement, or any supplement or amendment to it, or any other agreement between Funding Recipient and State evidencing or securing Funding Recipient’s obligations. Making any false warranty, representation, or statement with respect to this Funding Agreement or the application filed to obtain this Funding Agreement. Failure to perform all tasks of the Eligible Project, as described in Exhibit A (Work Plan) including tasks that are not part of the Funded Project. Failure to substantially meet the schedule, as described in Exhibit C (Schedule). Failure to provide the minimum Funding Match. Failure to operate or maintain project in accordance with this Funding Agreement. Failure to make any remittance required by this Funding Agreement. Failure to comply with Labor Compliance requirements. Failure to submit timely progress reports. Failure to routinely invoice State. Failure to meet any of the requirements set forth in Section AA4.
Default Status. In the event a property should go into default status and force Company to prepare for Company’s Agreement and Tenant’s Lease to be terminated, Company shall increase the reserve account an additional $500.00. The increase of reserves will be deducted from the monthly rent collected and held in the Trust Account as an additional reserve. In addition Company shall retain a $500.00 fee for monitoring the foreclosure sale date, and assisting the Tenant through the process. The $500.00 fee to Company shall be earned upon the Property completing the foreclosure process and the transfer of the deed to the bank or third party.
Default Status. There shall be no Default under any of the Loan Documents.
Default Status. OPIC confirms that (i) OPIC has not declared any Event of Default on or prior to the date hereof, and (ii) as of the date hereof, neither the Original Note nor the Replacement Note is bearing interest at the default rate pursuant to Section 2.3(c) of the Original Finance Agreement or this Agreement, as applicable.
Default Status. Automotive One acknowledges receipt of the Notice of Default. Subject to the proviso in the following sentence, by their execution of this Agreement, APS and AFCO each agree to withhold any actions they may be entitled to take under the Loan Documents as a result of default by Automotive One. Provided Automotive One strictly complies with all of its duties and obligations under this Agreement, the other documents executed in connection herewith and the Loan Documents, as modified hereby, then the Notice of Default shall be withdrawn. If, however, a nonmonetary default should occur under this Agreement or the other documents executed in connection herewith, or any additional or future defaults should occur under the Loan Documents, as modified hereby, and Automotive One fails to cure said default within twenty (20) business days after written notice of said default has been give to Automotive One then the Notice of Default shall automatically be reinstated as to the notice of default provided therein and any agreement by APS or AFCO to withhold any actions either may be entitled to take under the Loan Documents, this Agreement or the other documents executed in connection herewith shall no longer be effective and each shall be entitled immediately to exercise any and all of its remedies under the Loan Documents, this Agreement or the other documents executed in connection herewith without any further notice to Automotive One. If Automotive One should fail to make any payment required under this Agreement or the other documents executed in connection herewith, or under the Loan Documents, as modified hereby, then Automotive One shall have five (5) business days following receipt of written notice from APS or AFCO of such failure to pay within which such failure before a default shall have occurred, PROVIDED, HOWEVER, no notice of default is required to be given and no grace or cure period is applicable with respect to payments due on the Maturity Date. Upon the occurrence of such default, any argument by APS or AFCO to withhold any actions either may be entitled to take under the Loan Documents, this Agreement or the other documents executed ion connection herewith shall no longer be effective and each shall be entitled immediately to exercise any and all of its remedies under the Loan Documents, this Agreement or the other documents executed in connection herewith without any further notice to Automotive One.
