Remedies/Consequences of Default Clause Samples

Remedies/Consequences of Default. In addition to clause 20 of the AMA, and notwithstanding any other right or remedy available in law, upon an Event of Default described under Clause 11.01 above, the Fund may: (a) Require the Accredited Entity to remedy such Event of Default within a reasonable period of time set by the Fund at its sole discretion; and/or (b) If such Event of Default is not remedied pursuant to paragraph (a) of this Clause 11.02, or if the Fund did not opt to require the Accredited Entity to remedy such Event of Default, the Fund may, by notice to the Accredited Entity exercise one or more of the rights specified in paragraphs (b) and (c) of clause 20.01 of the AMA.‌ 12.01 In the event the Fund exercises its rights under clauses 20.01(c), 22.01 and 22.03 of the AMA, the Accredited Entity shall execute such documents and take such steps as are reasonably necessary to enable the Fund to give effect to such provisions.

Remedies/Consequences of Default. If there is an event of default under this Agreement, Clause 20 of the AMA shall apply to this Agreement mutatis mutandis. The Accredited Entity shall take all steps necessary to give effect to such remedies. 12.01 In the event the Fund exercises its rights under Clauses 20.01, 22.01 and 22.03(a) of the AMA, the Accredited Entity shall execute such documents and take such steps as are reasonably necessary to enable the Fund to give effect to such provisions.