Failure to Repay. Without limiting the application of section 43 of the Financial Administration Act (Ontario), if the Recipient fails to pay any amount owing under the Agreement, Her Majesty the Queen in right of Ontario may deduct any unpaid amount from any money payable to the Recipient by Her Majesty the Queen in right of Ontario.
Failure to Repay. If the Borrower fails to repay the Loan on the Maturity Date agreed in this Agreement (the “Failure To Repay”), the Lender shall be entitled to require the immediate repayment of the Loan in full, including the Interest thereof. The relationship created between the Borrower and the Lender in respect to this Loan is based on a fiduciary relationship between the Lender’s and the Borrower’s officers; therefore, the Lender and the Borrower hereby warrant the resolution of the Failure To Repay, if required and necessary, in good faith and by a mutual effort. Furthermore, the Lender and the Borrower hereby agree to negotiate the provisions under which the Failure To Repay shall be treated, and amend this Section accordingly in writing within 180 days lapsing from the effective date of this Agreement.
Failure to Repay. If (1) the terms of the loan provide that it shall become due and payable in full if the Participant's or Beneficiary's obligation to repay the loan has been discharged through a bankruptcy or any other legal process or action which did not actually result in payment in full and (2) such loan is not actually repaid in full, such loan shall be canceled on the Fund's books and records and the amount otherwise distributable to such Participant or Beneficiary under this Plan shall be reduced by the principal amount of the loan plus accrued but unpaid interest due as determined without regard to whether the loan had been discharged through a bankruptcy or any other legal process or action which did not actually result in payment in full. The Plan Administrator shall have the power to direct the Trustee to take such action as the Plan Administrator deems necessary or appropriate to stop the payment of an Account to or on behalf of a Participant who fails to repay a loan (without regard to whether the obligation to repay such loan had been discharges through a bankruptcy or any other legal process or action) until the Participant's Account has been reduced by the principal plus accrued but unpaid interest due (without regard to such discharge) on such loan or to distribute the note which evidences such loan in full satisfaction of that portion of such Account which is represented by the value of such note. Notwithstanding the foregoing, in the event of default, foreclosure on the note and execution of the Plan's security interest in the Account shall not occur until a distributable event occurs under this Plan and interest shall continue to accrue only to the extent permissible under applicable law.
Failure to Repay. If and to the extent that the Principal Borrower fails to make sufficient repayments to eliminate such Currency Excess (the remainder thereof being herein called the “Currency Excess Deficiency”), the Principal Borrower shall place an amount equal to the Currency Excess Deficiency on deposit with the Agent in an interest-bearing account with interest at rates prevailing at the time of deposit for the account of the Principal Borrower, to be held and applied to maturing Bankers’ Acceptances or LIBO Rate Loans, as the case may be (converted if necessary at the exchange rate for determining the Equivalent Amount on the date of such application). The Agent is hereby irrevocably directed by the Principal Borrower to apply any such sums on deposit to maturing Loans under the applicable Credit Facility as provided in the preceding sentence. Upon the Currency Excess being eliminated as aforesaid or by virtue of subsequent changes in the exchange rate for determining the Equivalent Amount, then, provided no Default or Event of Default is then continuing, such funds on deposit, together with interest thereon, shall be returned to the Principal Borrower.
Failure to Repay. If any repayment due from the Company pursuant to this Section 7 is not made by the Company when due, the Board may determine that further collection action is required, and the Board may refer the matter to the Office of the Attorney General (the “OAG”) for collection pursuant to Section 2.2-518 of the Virginia Code. In such event, by their signatures below, the Locality and the Authority will be deemed to have assigned to the Commonwealth all of their rights, title and interest in and to this Section 7. In any matter referred to the OAG for collection, the Company shall be liable to pay interest, administrative charges, attorneys’ fees and other applicable fees. Interest on any outstanding repayment referred to the OAG shall accrue at the rate set forth in Section 6.2-301 A. of the Virginia Code (currently 6.0% per year) for the period from the Performance Date or the Determination Date, as applicable, until paid.
Failure to Repay. If any repayment due pursuant to this Section 7 is not made by the Company when due, the Board of Directors of VEDP (the “Board”) may determine that further collection action is required, and the Board may refer the matter to the Office of the Attorney General (the “OAG”) for collection pursuant to Section 2.2-518 of the Virginia Code. In such event, by their signatures below, the Locality and the Authority will be deemed to have assigned to the Commonwealth all of their rights, title and interest in and to this Section 7. In any matter referred to the OAG for collection, the Company shall be liable to pay interest, administrative charges, attorney fees and other applicable fees. Interest on any outstanding repayment referred to the OAG shall accrue at the rate set forth in Section 6.2-301 A. of the Virginia Code (currently 6.0% per year) for the period from the [Initial] Performance Date [, the Subsequent Performance Date] or the Determination Date, as applicable, until paid. [SEE SECTIONS 1 AND 4. IF THE BREAK-EVEN POINT IS BEYOND THE INITIAL PERFORMANCE DATE, A NEW SUBSECTION (d) WILL BE ADDED TO SECTION 7, SUBSTANTIALLY AS FOLLOWS:
Failure to Repay. Borrower shall fail to repay the Loan upon the Maturity Date or when and as required pursuant to the Loan Documents.
Failure to Repay. If the Recipient fails to make payment as required by the notice provided under clause 10.4, if requested by the Commonwealth, the Recipient must pay Interest in accordance with clause 10.7.
Failure to Repay. If any repayment due pursuant to this Section 9 is not made by the COMPANY when due, DHCD may determine that further collection action is required, and DHCD may refer the matter to the Office of the Attorney General (the “OAG”) for collection pursuant to Section 2.2-518 of the Virginia Code. In such event, by its signature below, the GRANTEE will be deemed to have assigned to the Commonwealth of Virginia all of its rights, title and interest in and to this Section 9 and all claims the GRANTEE has or may have against the COMPANY for recoupment of funds as contemplated in this Section 9. The GRANTEE shall include in its contract with the COMPANY a provision that expressly consents to this assignment, that requires the COMPANY to pay back all funds subject to recoupment pursuant to this Section 9, and that provides that, in any matter referred to the OAG for collection, the COMPANY shall be liable to pay interest, administrative charges, collection costs, attorneys’ fees, expert fees, consultant fees, and other applicable fees to the Commonwealth of Virginia and that interest on any outstanding repayment referred to the OAG shall accrue at the rate set forth in Section 6.2-301 A. of the Virginia Code (currently 6.0% per year) for the period from the date on which the repayment is due until paid.
Failure to Repay. Without limiting the application of section 43 of the Financial Administration Act (Ontario), if the Service Manager fails to repay any amount owing under the Agreement, the Green Ontario Fund may deduct any unpaid amount from any money payable to the Service Manager by the Green Ontario Fund. The parties confirm that the Green Ontario Fund shall have this right though it is not a party to this Agreement. In addition, HSC may pursue any remedies at law it may have to compel payment of such Funds.
