Performance Upon Default Sample Clauses
The 'Performance Upon Default' clause outlines the obligations and actions required if one party fails to meet its contractual duties. Typically, this clause specifies the steps the non-defaulting party may take, such as demanding immediate performance, seeking remedies, or suspending their own obligations until the default is cured. Its core function is to provide a clear process for addressing breaches, ensuring that both parties understand the consequences of default and how performance will be managed in such situations.
Performance Upon Default. None of the Agents shall have any duty or responsibility in case of any default by the Trust in the performance of its obligations (including, without limiting the generality of the foregoing, any duty or responsibility to accelerate all or any of the Notes or to initiate or to attempt to initiate any proceedings at law or otherwise or to make any demand for the payment thereof upon the Trust).
Performance Upon Default. Upon the occurrence of a Default on the part of Tenant in the performance of any of the Tenant's Obligations, Guarantor hereby agrees to perform each and all of the Obligations the non-performance of which constitute such Default: (i) without deduction by reason of any set-off, defense or counterclaim of Tenant or any other Person; (ii) without requiring protest or notice of non-payment or notice of default to Guarantor, to Tenant or to any other Person; (iii) without demand for payment or proof of such demand; (iv) without requiring Landlord to resort first to Tenant or to any other guarantor, guaranty or any collateral which Landlord may hold; (v) without requiring notice of acceptance of the Guaranty or assent to the Guaranty by Landlord; and (vi) without requiring notice that any Tenant's Obligations have been incurred by Tenant pursuant to the terms of the Lease or of the reliance by the Landlord upon the Guaranty. Guarantor hereby waives the requirement that Landlord comply with any of the foregoing demands, actions or notices and the right to assert Landlord's failure to so comply as a defense to the enforcement of the Guaranty.
Performance Upon Default. None of the Agents shall have any duty or responsibility in case of any default by the Company in the performance of its obligations (including, without limiting the generality of the foregoing, any duty or responsibility to accelerate all or any of the Notes or to initiate or to attempt to initiate any proceedings at law or otherwise or to make any demand for the payment thereof upon the Company).