Financial Default. If default shall be made in the due and punctual payment of Base Rent, Variable Rent, Escrow Deposits, or any payment of Additional Rent required to be made by Tenant under the terms of this Lease Agreement, and such default shall continue for a period of five (5) business days after Tenant's receipt of written notice from Landlord specifying such default.
Financial Default. (a) If a Financial Default occurs, the non-defaulting party may, without prejudice to any other right, suspend its obligations under any or all of the Transactions entered into under this Agreement and give a notice (Financial Default Notice) to the defaulting party specifying the Financial Default and giving the defaulting party 10 Business Days (Financial Cure Period) from the date of the Financial Default Notice to remedy the Financial Default.
Financial Default. 10.1 If SITA does not pay any amount payable by it under this agreement within seven days of its due date, it must pay interest on that amount on demand by Council, from the due date for payment until it is paid. The interest rate to be applied to late payments is set at 1% above the Base Rate at the time the amount payable became due. Interest under this clause is calculated on daily balances.
Financial Default. (a) Without prejudice to any other right or remedy of Change Energy under this Agreement or any Law, if the Buyer commits a Financial Default Change Energy may send the Buyer written notice requesting the Buyer to remedy the Financial Default within 2 Business Days of the date of the notice.
Financial Default. (a) If a Financial Default occurs in respect of the Licensee, then the Minister may, in addition to any other remedies he or she has under the Act, treat the Financial Default as a Step-In Event and immediately proceed in accordance with clause 23.
Financial Default. In the event of a Financial Default or any breach of Section 3 of the Agreement, without prejudice to any of LESSOR’s rights under this Agreement, LESSOR may in its sole discretion take any or all of the following actions: (a) suspend the cablecasting of any Programming without prior notice to LESSEE and such suspension may continue until the breach is cured to LESSOR’s sole satisfaction;
Financial Default. In accordance with Section 11.1.1 above, this Agreement may terminate if a party (a) fails to cure a Financial Default in full within the Financial Default Cure Period, or
Financial Default. The Tenant shall be in financial default if it fails to pay when due each installment of Base Rent or Additional Rent (“Financial Default”).
Financial Default. (a) Upon receipt of a Default Notice in the case of a Financial Default, the Defaulting Party has 5 Business Days to rectify that Default.
Financial Default. Upon occurrence of a Financial Default, the Lenders’ Representative may issue a notice to the Concessionaire (the “Notice of Financial Default”) along with particulars thereof, and send a copy to Maha-Metro for its information and record. A Notice of Financial Default under this Article III shall be conclusive evidence of such Financial Default and it shall be final and binding upon the Concessionaire for the purposes of the Substitution Agreement. Upon issue of a Notice of Financial Default hereunder, the Lenders’ Representative may, without prejudice to any of its rights or remedies under the Substitution Agreement or the Financing Agreements, substitute the Concessionaire by a Nominated Company in accordance with the provisions of the Substitution Agreement. At any time after the Lenders’ Representative has issued a Notice of Financial Default, it may make a representation to Maha-Metro, stating that it intends to substitute the Concessionaire by a Nominated Company (“Lenders’ Substitution Notice”). The Lenders’ Representative shall be entitled to undertake and complete the substitution of the Concessionaire by a Nominated Company in accordance with the provisions of the Substitution Agreement and the Concession Agreement within a period of 180 (one hundred and eighty) days from the date of Lenders’ Substitution Notice, and Maha-Metro shall withhold Termination due to any Concessionaire Event of Default for the aforesaid period of 180 (one hundred and eighty) days, and the Concessionaire shall continue to discharge its obligations thereunder for such period. Xxxxxxx’ Representative shall forthwith send a copy of the aforesaid Lenders’ Substitution Notice to the Concessionaire. Substitution upon occurrence of Concessionaire Event of Default Upon occurrence of a Concessionaire Event of Default, Maha-Metro shall, by sending a copy of the Notice of Intention to Terminate to the Lenders’ Representative, inform of its intention to terminate the Concession Agreement and grant 15 (fifteen) days time to the Lenders’ Representative to make a representation, stating its intention to substitute the Concessionaire by a Nominated Company. In the event that the Lenders’ Representative make a representation to Maha- Metro within the period of 15 (fifteen) days specified in Article 3.3.1, stating that it intends to substitute the Concessionaire by a Nominated Company (“Lenders’ Substitution Representation”), the Lenders’ Representative shall be entitled to undertake and...
