Events of Default Remedies Upon Default. (a) The following shall constitute Events of Default ("Events of Default") under this Agreement:
Events of Default Remedies Upon Default. In the event that:
Events of Default Remedies Upon Default. Each of the following shall be deemed an event of default under this lease:
Events of Default Remedies Upon Default. (a) It shall be considered an event of default under this Agreement (an “event of Default”) if:
Events of Default Remedies Upon Default. A default under this Grant Agreement shall consist of any use of Grant Funds for a purpose not authorized by this Agreement, any noncompliance with legislative, regulatory or other requirements applicable to this Agreement, failure to comply with the performance objectives, tasks, time requirements or costs established by this Agreement, any other material breach of this Agreement, or any material misrepresentation during the process of obtaining the Grant Funds under this Agreement which, if known to HUD, would have resulted in the denial of the award of the Grant Funds. If HUD makes an initial determination that the Grantee is in default of this Grant Agreement, HUD will give the Grantee written notice of this determination and the corrective or remedial action proposed by HUD. The Grantee shall have an opportunity to demonstrate within 30 calendar days, and on the basis of facts and data, that it is not in default, that it has taken action(s) necessary to cure the default, or that the proposed corrective or remedial action is inappropriate, before HUD implements the corrective or remedial action. If HUD determines that there is an imminent threat that the Grantee will continue to expend Grant Funds contrary to this Grant Agreement unless HUD takes immediate action, HUD, concurrently with issuing a written notice of default, may implement a remedial action appropriate to prevent such expenditure. Corrective or remedial actions that HUD may take shall include, but shall not be limited to: 1. Canceling or revising the affected activities under this Grant Agreement. 2. Suspending the Grantee's payments pending action to cure the default and prevent further default by the Grantee. 3. Recapturing from the Grantee or others amounts determined by HUD to have been improperly expended. Where HUD determines that remedial actions required by HUD will not be effective in correcting the default, and to prevent further default, HUD may take the following additional corrective and remedial actions under this Grant Agreement: 1. Reduce the Grant Funds by the amount affected by the default. 2. Terminate the grant as to all further activities. 3. Take action against the grantee under 24 C.F.R. Part 24 and Executive Order 12549 with respect to future HUD or Federal grant awards. 4. Demand repayment of all grant amounts disbursed; 5. Initiate litigation or other legal proceedings designed to require compliance with the statute, regulations, the Use Agreement, this Grant Agr...
Events of Default Remedies Upon Default. If any of the following events (“Events of Default”)
Events of Default Remedies Upon Default. 7.1 MTI, in its sole discretion, may suspend or terminate the Grant upon the occurrence of any one or more of the following events of default by Recipient:
Events of Default Remedies Upon Default. The breach of this Agreement or occurrence of any Event of Default under any Funding Document, which breach or Event of Default is not cured within the applicable cure period provided herein or therein, if any, shall constitute an event of default hereunder. Upon the occurrence of any event of default hereunder, the Lender may exercise, in addition to all other rights and remedies of the Lender hereunder or at law or in equity, any and all of the following rights and remedies, all of which shall be cumulative and not mutually exclusive:
Events of Default Remedies Upon Default a. It shall be considered an event of default under this Agreement (an "Event of Default") if (i) QuesTec is the subject of a notice of default under Paragraph 6(b) hereof, (ii) either party commits an act of bankruptcy or becomes the subject of any proceeding under the Bankruptcy Code or any state bankruptcy laws, or becomes insolvent, or if any substantial part of its property becomes subject to any levy, seizure, assignment or application for sale which shall not have been dismissed within thirty (30) days or (iii) either party has materially breached any of its representations, warranties or covenants or failed materially to perform any of its other obligations hereunder (other than the obligations of QuesTec with respect to which a notice of default under Paragraph 5(b) hereof may be issued) for a period of thirty (30) days after notice thereof.
Events of Default Remedies Upon Default. For purposes of this Agreement, the following shall be Events of Default:
