Occurrence of Event of Default. If an Event of Default has occurred and is continuing, the Lender shall have the right to hold and apply the Collateral Revenues as provided below.
Occurrence of Event of Default. Upon the occurrence of an Event of Default, Lender shall have the immediate right, at the sole discretion of Lender and without notice, presentment for payment, demand, notice of nonpayment or nonperformance, protest, notice of protest, notice of intent to accelerate, notice of acceleration or any other notice or any other action (ALL OF WHICH BORROWER AND THE BORROWER-RELATED PARTIES HEREBY EXPRESSLY WAIVE AND RELINQUISH) (i) to declare the entire unpaid balance of the Debt (including the outstanding principal balance hereof, including all sums advanced or accrued hereunder or under any other Loan Document, and all accrued but unpaid interest thereon) at once immediately due and payable (and upon such declaration, the same shall be at once immediately due and payable) and may be collected forthwith, whether or not there has been a prior demand for payment and regardless of the stipulated date of maturity, (ii) to foreclose any liens and security interests securing payment hereof or thereof (including any liens and security interests covering all or any portion of the Mortgaged Property (as defined in the Deeds of Trust)), (iii) refuse to make any Loan or Advance to Borrower, even if Lender had previously agreed to make such Loan or Advance, and (iv) to exercise any of Lender’s other rights, powers, recourses and remedies under this Agreement, under any other Loan Document or at law or in equity, and the same (A) shall be cumulative and concurrent, (B) may be pursued separately, singly, successively or concurrently against Borrower, any Borrower-Related Party or others obligated for the repayment of the Debt or any part hereof, or against any one or more of them, or against all or any portion of the Mortgaged Property, at the sole discretion of Lender, (C) may be exercised as often as occasion therefor shall arise, it being agreed by Borrower and the Borrower-Related Parties that the exercise, discontinuance of the exercise of or failure to exercise any of the same shall in no event be construed as a waiver or release thereof or of any other right, remedy or recourse, and (D) are intended to be, and shall be, nonexclusive. All rights and remedies of Lender hereunder and under the other Loan Documents shall extend to any period after the initiation of foreclosure proceedings, judicial or otherwise, with respect to all or any portion of the Mortgaged Property. No delay on the part of Lender in exercising any power or right shall operate as a waiver of such p...
Occurrence of Event of Default. As soon as possible, but in any event within five (5) days after (i) the occurrence of any Event of Default and/or (ii) the earlier of (a) the Borrower’s knowledge of any event resulting in or (b) the delivery or required delivery date, if earlier, of any statement pursuant to subsections 5.03 (b) and 5.03(c) evidencing, the failure of the Borrower to meet any of the Financial Covenants, a statement of the Chief Financial Officer of the Borrower, setting forth the details of such Event of Default and/or failure and the action which the Borrower proposes to take with respect thereto.
Occurrence of Event of Default. Notwithstanding anything herein to the contrary, if a Default or Event of Default shall have occurred and be continuing, upon the request of Majority Lenders, all or any part of any outstanding Offshore Currency Loans shall be redenominated and converted into Base Rate Loans in Dollars with effect from the last day of the Interest Period with respect to any such Offshore Currency Loans. Agent will promptly notify Borrower of any such redenomination and conversion request.
Occurrence of Event of Default. Upon the occurrence of any Event of Default, Bank may, at its option, declare the unpaid principal of and accrued interest on the Note to be immediately due and payable without notice of any kind (including, without limitation, notice of intent to accelerate and notice of acceleration) whereupon the same shall forthwith become due and payable. Bank may thereupon enforce payment of the Note and pursue any rights and remedies provided in the Security Agreement or other Loan Documents or otherwise available at law.
Occurrence of Event of Default. The Borrower shall immediately notify the Lender on becoming aware of the occurrence or likely occurrence of an Event of Default.
Occurrence of Event of Default. If an Event of Default or a Default occurs, Agent or Secured Party shall have the right to exercise any rights and remedies provided in the Loan Agreement, as Secured Party or Agent, in its or their sole discretion, may deem necessary or appropriate. Secured Party or Agent shall further have the right to exercise any remedies afforded a secured party under the Uniform Commercial Code of Texas or any other applicable law with respect to the Shares.
Occurrence of Event of Default. Subject to Section 6, upon occurrence of an Event of Default by either Party, the defaulting Party shall be liable to the non-defaulting Party for only direct damages as defined in Section 7.4 resulting from the Event of Default. In addition, the non-defaulting Party may pursue any remedies and may terminate this Agreement by giving at least 25 days advance written notice to the defaulting Party, such termination to be effective as of the date specified in such notice.
Occurrence of Event of Default. A party (a "Defaulting Party") shall be in default (each an "Event of Default") hereunder if:
Occurrence of Event of Default. Although it is the intention of the parties that this Assignment is a present assignment, it is expressly understood and agreed, anything herein contained to the contrary notwithstanding, that the UG shall not exercise any of the rights and powers conferred upon it herein until and unless there shall occur an event of default under the Agreement. Nothing herein contained shall be deemed to affect or impair any rights which the UG may have under the Agreement or the Transaction Documents.
