Event of Default under Section Sample Clauses

Event of Default under Section. 16(a) of the Master Lease as a result of the Lessees; failure to satisfy the financial covenant under Section 12(f) thereof, for the period ending September 30, 2012.
Sample 1
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Event of Default under Section. 8.1 (b) of the Loan Agreement-Borrowers received proceeds of the disposition of their rights under the below described acquisition agreement but did not use these proceeds to prepay the Term Loan as required by Section 2.4(c) of the Loan Agreement.
Sample 1
Event of Default under Section. 6(a) of the Forbearance Agreement-Borrowers have failed to comply with the covenant set forth in section 6(a) of that certain Forbearance Agreement dated as of January 1, 2007 (the “Forbearance Agreement”) by and among the Borrowers, the Guarantors, Agent and the Lenders. There may be other Defaults or Events of Default of which the Agent and the Lenders are not currently aware. FURTHER NOTICE IS HEREBY GIVEN to each Borrower and each Guarantor that pursuant to Section 2.6(c) of the Loan Agreement and effective as of March 21, 2007, the principal of, and all accrued and unpaid interest on, the Term Loans, fees, indemnities, or any other Obligations of the Loan Parties under the Loan Agreement and the other Loan Documents, shall bear interest at a rate per annum equal to the default rate specified in Section 2.6(c) of the Loan Agreement until such time as all existing Events of Default (including, without limitation, the Designated Events of Default) have been waived in writing in accordance with the terms of the Loan Agreement. The Agent and the Lenders continue to evaluate their response to the Designated Events of Default, and nothing contained in this notice is intended to or shall be construed as a waiver or forbearance of any of the rights, remedies, and powers of Agent or any Lender against any Borrower, any Guarantor or the Collateral, or a waiver of any Defaults or Events of Default whether specified herein or otherwise, or a consent to any departure by any Borrower or any Guarantor from the express provision of the Loan Agreement and the other Loan Documents. Agent and each Lender hereby reserves expressly all of its remedies, powers, rights, and privileges under the Loan Agreement or the other Loan Documents, at law (including under the Code), in equity, or otherwise including, without limitation, the right to declare all Obligations immediately due and payable pursuant to Section 9.1 of the Loan Agreement. Please be advised that the obligation of the Agent and the Lenders to forbear from exercising their rights and remedies with respect to certain of the Designated Events of Default pursuant to the terms of the Forbearance Agreement has terminated pursuant to the terms of the Forbearance Agreement and that none of the Agent or Lenders is currently subject to any obligation to forbear from enforcing such rights and remedies with respect to any Default or Event of Default. Any further forbearance must be in writing and agreed to by the Agent and t...
Sample 1
Event of Default under Section. 10.1(a)(iii) of the Loan Agreement as a result of the failure by Borrowers to observe their covenant set forth in Amendment No. 1 to Loan and Security Agreement to deliver not later than forty-five (45) days after on the date thereof, a Mortgage with respect to certain Real Property of Datel located in Mansfield, Massachusetts.
Sample 1

Related to Event of Default under Section

  • Event of Default Defined The occurrence of any one or more of the following shall constitute an Event of Default under this Agreement, and any Event of Default which may occur hereunder shall constitute an Event of Default under each of the other Loan Documents:

  • Event of Default; Notice (a) The Guarantee Trustee shall, within 90 days after the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders, notices of all Events of Default known to the Guarantee Trustee, unless such defaults have been cured before the giving of such notice, provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders.

  • Additional Event of Default The following will constitute an additional Event of Default with respect to Party B: "NOTE ACCELERATION NOTICE. A Note Acceleration Notice is served on Party B in relation to the Relevant Notes."

  • 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.

  • Event of Default Any of the following shall constitute an "Event of Default":

  • Event of Default Remedies 8.1 Any one or more of the following acts or omissions of the Contractor shall constitute an event of default hereunder (“Event of Default”):

  • 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.

  • Rights Upon Event of Default (a) As long as an Event of Default under this Agreement remains unremedied, Holders of not less than 50% of the outstanding Class Principal Balance of the Original Notes (in each case the outstanding Class Principal Balance of the Original Notes will be determined without regard to any exchanges of Class M Notes for MAC Notes) to which such Event of Default relates may, by written notice to Freddie Mac, declare such Notes due and payable and accelerate the maturity of such Notes. In the event that Class M Notes have been exchanged for MAC Notes, Holders of such MAC Notes will be entitled to exercise all the voting or direction rights that are allocated to such exchanged Class M Notes as described herein. Upon such acceleration, the Class Principal Balance of such Notes and the interest accrued thereon shall be due and payable.

  • No Event of Default No Default or Event of Default has occurred and is continuing.

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