Discount After Default Sample Clauses
The "Discount After Default" clause establishes that, in the event of a default by one party, certain amounts owed may be subject to a reduced payment or discount. Typically, this means that if a debtor fails to meet their obligations, the creditor may agree to accept a lesser amount as full settlement, often to expedite recovery or avoid lengthy legal proceedings. This clause serves to incentivize prompt resolution after default and provides a clear mechanism for handling outstanding debts, thereby reducing uncertainty and potential losses for both parties.
Discount After Default. To the extent permitted by Law, upon the occurrence of Termination Event and until such time such Termination Event shall have been cured or waived, at the discretion of the Administrator or upon written demand by the Majority Purchasers to the Administrator: