Failure by ▇▇▇▇▇▇ Sample Clauses
Failure by ▇▇▇▇▇▇. If the Lender fails to pay the Deposited or Lent Amount on the applicable Payment Date, the Borrower may, at any time while such failure continues:
(i) require the Lender to pay to the Borrower an amount equal to the excess, if any, of the Borrower’s Alternative Borrowing Cost over the pro rata portion of the Interest attributable to the period of delay, each calculated for the period from (and including) the Payment Date to (but excluding) the earlier of the date on which the Deposited or Lent Amount is paid to the Borrower and the Repayment Date (which in the case of a Transaction terminable on demand shall be deemed to be the earliest date on which the Deposited or Lent Amount would be required to be repaid following a demand by the Lender); “Alternative Borrowing Cost” of a party means the cost (including fees and expenses), as determined by such party, which such party has or would have reasonably incurred in borrowing the Deposited or Lent Amount in the market for the relevant period; and
Failure by ▇▇▇▇▇▇. In the event ▇▇▇▇▇▇ fails to complete the Closing ----------------- of this Agreement as described above through no fault on the part of IDI and unrelated to any failure of any condition or postponement described in this Agreement and not as the result of a breach of this Agreement by ▇▇▇▇▇▇, ▇▇▇▇▇▇ will pay to IDI the $1,000,000.00 paid into escrow pursuant to Section 2.2 above, pursuant to the terms of the Escrow Agreement attached as Exhibit "E." IDI agrees that this payment shall be its sole and exclusive remedy for a material breach by and failure by ▇▇▇▇▇▇ to complete the transactions contemplated by the Agreement.
Failure by ▇▇▇▇▇▇. If ▇▇▇▇▇▇ fails or refuses to undertake such defense or fails to act within such period of ten (10) days, the District Indemnified Party may, but shall not be obligated to, after five (5) days’ prior notice to Tenant, undertake the sole defense thereof by counsel or other representatives designated by it, such defense to be at the expense of ▇▇▇▇▇▇. The assumption of such sole defense by the District Indemnified Party shall in no way affect the indemnification obligations of Tenant.