Obligations of Guarantor Upon Default Sample Clauses

Obligations of Guarantor Upon Default. Upon the occurrence of any Event of Default under this Lease, Guarantor shall, upon demand of Lessor: (i) immediately cure such failure to pay and/or perform the applicable part of the Guaranteed Obligations; and (ii) pay Lessor all other costs and damages it incurs as a result of such failure by any party to pay and/or perform the Guaranteed Obligations, including without limitation, all reasonable attorneys' fees and all other costs it incurs in enforcing the performance or the payment of the Guaranteed Obligations with interest thereon at the Overdue Rate.
Sample 1Sample 2
AutoNDA by SimpleDocs
Obligations of Guarantor Upon Default. In the event RIDA fails to pay any part of the Guaranteed Obligations when due, after any and all cure periods applicable to RIDA, Guarantor shall, upon demand of the City: (i) promptly cure such failure to pay the applicable part of the Guaranteed Obligations by paying or causing the payment of such obligation; and (ii) pay to the City all reasonable costs and expenses, including reasonable attorneys’ fees and expenses, that the City incurs in enforcing the payment of the Guaranteed Obligations. In the event RIDA defaults in the performance of its obligations under any Deferral Document, provided Guarantor undertakes to cure such defaults, the City agrees to accept the performance by Guarantor of such obligations under such Deferral Document, and accord Guarantor all of the rights and benefits due to RIDA under such Deferral Document to the extent necessary for the Guarantor to fully satisfy its obligations hereunder.
Sample 1
Obligations of Guarantor Upon Default. In the event RIDA fails to perform any part of the Guaranteed Obligations when due, after any and all cure periods applicable to RIDA and any and all Permitted Lenders (as defined in the Hotel Ground Lease), as applicable, have expired, or the Foreclosure Purchaser that assumes the Project Documents fails or elects not to complete the Resort Hotel, Parking Improvements, Convention Center, or Phase 1A Infrastructure Improvements in accordance with the applicable Project Documents, Guarantor shall, upon demand of the Port District, as it relates to the Resort Hotel and the Parking Improvements, and the Authority, as it relates to the Convention Center and Developer’s Phase 1A Infrastructure Improvements, and the City and Port District as it relates to the proposed ownership of each in Developer’s Phase 1A Infrastructure Improvements: (i) promptly cure such failure to perform the applicable part of the Guaranteed Obligations by performing or causing the performance of such obligation; and (ii) pay to the Public Entities all reasonable costs and expenses, including reasonable attorneys’ fees and expenses, they incur in enforcing the performance of the Guaranteed Obligations. In the event RIDA defaults in the performance of its obligations under any Project Document, provided Guarantor undertakes to cure such defaults, each Public Entity agrees to accept the performance by Guarantor of such obligations under such Project Document, and accord Guarantor all of the rights and benefits due to RIDA under such Project Document to the extent necessary for the Guarantor to fully satisfy its obligations hereunder.
Sample 1

Related to Obligations of Guarantor Upon Default

  • Grantor’s Obligations Upon Default Upon the request of the Administrative Agent after the occurrence and during the continuance of an Event of Default, each Grantor will:

  • Additional Obligations of Guarantor It shall constitute a Default of the Lessee under this Lease if any such Guarantor fails or refuses, upon reasonable request by Lessor to give: (a) evidence of the due execution of the guaranty called for by this Lease, including the authority of the Guarantor (and of the party signing on Guarantor's behalf) to obligate such Guarantor on said guaranty, and resolution of its board of directors authorizing the making of such guaranty, together with a certificate of incumbency showing the signatures of the persons authorized to sign on its behalf, (b) current financial statements of Guarantor as may from time to time be requested by Lessor, (c) a Tenancy Statement, or (d) written confirmation that the guaranty is still in effect.

  • Guarantor Defaults Any Guarantor fails in any material respect to perform or observe any term, covenant or agreement in the Guaranty; or the Guaranty is for any reason partially (including with respect to future advances) or wholly revoked or invalidated, or otherwise ceases to be in full force and effect, or any Guarantor or any other Person contests in any manner the validity or enforceability thereof or denies that it has any further liability or obligation thereunder; or any event described at subsections (f) or (g) of this Section occurs with respect to any Guarantor; or

  • Reinstatement of Guarantied Obligations If claim is ever made on the Administrative Agent or any other Guarantied Party for repayment or recovery of any amount or amounts received in payment or on account of any of the Guarantied Obligations, and the Administrative Agent or such other Guarantied Party repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body of competent jurisdiction, or (b) any settlement or compromise of any such claim effected by the Administrative Agent or such other Guarantied Party with any such claimant (including the Borrower or a trustee in bankruptcy for the Borrower), then and in such event each Guarantor agrees that any such judgment, decree, order, settlement or compromise shall be binding on it, notwithstanding any revocation hereof or the cancellation of the Credit Agreement, any of the other Loan Documents, or any other instrument evidencing any liability of the Borrower, and such Guarantor shall be and remain liable to the Administrative Agent or such other Guarantied Party for the amounts so repaid or recovered to the same extent as if such amount had never originally been paid to the Administrative Agent or such other Guarantied Party.

  • Payments of Notes on Default Suit Therefor 33 Section 6.05. Application of Monies Collected by Trustee 35 Section 6.06. Proceedings by Holders 36 Section 6.07. Proceedings by Trustee 37 Section 6.08. Remedies Cumulative and Continuing 37 Section 6.09. Direction of Proceedings and Waiver of Defaults by Majority of Holders 37 Section 6.10. Notice of Defaults 38 Section 6.11. Undertaking to Pay Costs 38 ARTICLE 7

  • Prior Payment of Guaranteed Obligations In any proceeding under any Bankruptcy Law relating to any other Loan Party, each Guarantor agrees that the Secured Parties shall be entitled to receive payment in full in cash of all Guaranteed Obligations (including all interest and expenses accruing after the commencement of a proceeding under any Bankruptcy Law, whether or not constituting an allowed claim in such proceeding (“Post Petition Interest”)) before such Guarantor receives payment of any Subordinated Obligations.

  • Definition of Guaranteed Obligations As used herein, the term “Guaranteed Obligations” means:

  • Acceleration of Guaranty The Guarantor agrees that, if any Event of Default under Section 8.1.7 of the Credit Agreement shall occur or the Loans are declared due and payable, the Guarantor will, automatically and without the requirement that any demand for payment be made, pay to the Lender Parties forthwith the full amount of the Guaranteed Obligations that are then due and payable.

  • Events of Default Remedies on Default Events of Default . Each of the following shall be an "Event of Default" if it occurs for any reason whatsoever, whether voluntary or involuntary, by operation of law or otherwise:

Time is Money Join Law Insider Premium to draft better contracts faster.