Remedy Upon Default. During the time that any portion of this Note is outstanding, if any Event of Default has occurred, the Holder, by notice in writing to the Company, may at any time and from time to time declare the full unpaid Principal of this Note or any portion thereof, to be due and payable immediately without necessity of further action (the “Accelerated Amount”).
Remedy Upon Default. (a) If any Event of Default shall have occurred and be continuing, the Pledgee's sole remedy shall be to (i) sell, without notice except as specified below, the Pledged Collateral or any part thereof in one or more parcels at public or private sale, at any exchange, broker's board or elsewhere, for cash, on credit or for future delivery, and upon such other terms as the Pledgee, in its sole discretion, may deem commercially reasonable, and (ii) apply the proceeds from such sale to the payment of the unpaid principal of the Notes and the interest accrued thereon. In order to enable the Pledgee to exercise the remedy set forth in this Section 11, the Pledgor has executed and delivered the Common Stock Power attached as Exhibit A, which the Pledgee will hold as additional Pledged Collateral. The Pledgor agrees that, to the extent notice of sale shall be required by law, at least twenty (20) days' notice to the Pledgor of the time and place of any public sale or the time after which any private sale is to be made shall constitute reasonable notification. The Pledgee shall not be obligated to make any sale of Pledged Collateral of the Pledgor regardless of notice of sale having been given. The Pledgee may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned.
Remedy Upon Default. In the event that this Agreement is terminated pursuant to Section 5.3 or 5.4 above, both parties shall have the right to exercise any and all rights surviving such termination pursuant to Section 5.2.
Remedy Upon Default. That if any default shall be made in the payment of rent and if said rent remains unpaid seven (7) days after written notice of such default is given to Lessee or if after thirty (30) days written notice setting forth the default, the default shall continue by Lessee in the performance of any other covenant, agreement, or condition contained in this Sublease, Lessor shall have the right to re-enter and take possession of the Premises, and Lessee shall peacefully surrender possession thereof and all rights and interests of Lessee shall cease and terminate but nothing herein contained shall affect Lessor's right of the rent for the Term specified. Upon taking possession hereunder, Lessor may, at its election, terminate and end this Sublease by giving Lessee written notice thereof, or Lessor may relet the Premises and Lessee shall be liable for and will pay as it accrues, the difference in the rental for the balance of the Term.
Remedy Upon Default. During the time that any portion of this Note is outstanding, if (i) any Event of Default has occurred, the Holder, by notice in writing to the Company, may at any time and from time to time declare the full unpaid Principal of this Note or any portion thereof, together with Interest accrued thereon to be due and payable immediately (the “Accelerated Amount”) or (ii) any Event of Default specified in Section 4(a)(ii) has occurred, the unpaid Principal of the Note and the Interest accrued thereon shall be immediately and automatically due and payable without necessity of further action. In addition, for so long as an Event of Default has occurred and remains uncured, the Company shall pay default interest at the rate of 15% per annum until the applicable Event of Default is cured. Such declaration may be rescinded and annulled by Holder at any time prior to payment hereunder. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.
Remedy Upon Default. During the time that any portion of this Note is outstanding, if (i) any Event of Default has occurred, the Holder, by notice in writing to the Company, may at any time and from time to time declare the full unpaid Principal of this Note or any portion thereof, together with Interest accrued thereon to be due and payable immediately (the “Accelerated Amount”) or (ii) any Event of Default specified in Section 4(a)(ii) has occurred, the unpaid Principal of the Note and the Interest accrued thereon shall be immediately and automatically due and payable without necessity of further action. In addition, for so long as an Event of Default has occurred and remains uncured, the Company shall pay default interest at the rate of 15% per annum instead of 10% per annum until the applicable Event of Default is cured. Such declaration shall be rescinded and annulled following such cure, and may also be rescinded and annulled by Holder at any time prior to payment hereunder. No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.
Remedy Upon Default. Upon the occurrence of an Event of Default, the other party to this Agreement may, at its option, terminate this Agreement at any time thereafter by written notice to the defaulting party. The remedy specifically provided for by this Section 6.2 shall not be exclusive and shall be in addition to any other remedies which a party may have at law or in equity.
Remedy Upon Default. Subject to the provisions of Section 14.3.3 below, the sole remedy of the non- defaulting Party in the event of a Default by the other Party shall be to terminate this Agreement, and the defaulting Party shall pay to the non-defaulting Party within five (5) business days after such termination, as liquidated damages for such Default, the cash amount of Two Hundred Fifty Thousand Dollars ($250,000). The Parties agree that in the event of a Default, the damages from such Default would be difficult to determine, and that the foregoing liquidated damages amount is a reasonable estimate of the actual, out-of-pocket costs that would be incurred by each of the Parties if the Reorganization were not consummated. Each Party agrees not to bring an action before any Government Entity against the other Party seeking damages on account of the Default, it being agreed that the liquidated damages amount stated herein shall be the sole monetary remedy to the non-breaching Party.
Remedy Upon Default. Upon the occurrence of an uncured material breach by TELKOM of any of its material obligations under this Agreement, the Investor may give written notice to TELKOM stating the nature and extent of the default and, if such notice is given and the default is not remedied to the reasonable satisfaction of the Investor within 7 Business Days (in the case of a payment default) and 10 Business Days (in the case of all other defaults) of the date of such notice, the Investor may take the following actions at the end of the said 7 or 10, as relevant, Business Days period by notice of the Investor. Upon delivery by the Investor of such notice to TELKOM, the Investor may in its sole discretion assume full operational and financial control of DIVRE IV and the KSO System (including control of the Total KSO Revenues and signature authority with respect to the KSO Accounts) and TELKOM shall take all steps necessary to permit the Investor to assume such operational and financial control (including provision to the Investor on the Effective Date of irrevocable powers of attorney in the form of Attachment F required by the Investor to assume such financial and operational control, including control of the Total KSO Revenues and signature authority with respect to the KSO Accounts, such powers of attorney to become effective with no further action upon the occurrence of an uncured material breach by TELKOM of any of its material obligations under the Agreement), and Total KSO Revenues shall be applied in payment of amounts owing to the Investor under this Agreement, with such operational and financial control being returned to TELKOM upon payment in full of amounts owing to the Investor under this Agreement.
Remedy Upon Default. Upon the happening of one or more Events of Default, the Secured Party may give written notice to the Trustee stating the date and the nature of the Event of Default, and identifying the appropriate Advanta Trust or Trusts relating to the Securitized Loan Pools. The Secured Party shall have the right to direct the Trustee to make all further payments of Residual Excess Servicing and Deferred Premium Payments due to it under Section 9(d) of the Securitization Access Agreement directly from the Certificate Account into an account designated by the Secured Party in such notice, before payments may be made to the Pledgors under the terms of the Securitization Access Agreement. The parties hereto agree that, upon the happening of one or more Events of Default and notice to the Trustee, the Trustee shall calculate the amounts, if any, owed by the Pledgors to the Secured Party pursuant to Section 9(d) of the Securitization Access Agreement and shall pay any and all such amounts from the Residual Excess Servicing related to the Securitized Loan Pools that would otherwise be payable to either Pledgor directly to the account of the Secured Party as identified by the Secured Party from time to time to the Trustee. The Pledgors and the Secured Party acknowledge that the Secured Party has no recourse against the Collateral upon the happening of an Event of Default, other than as described in this Section 5.
