Repayment on Default Clause Samples

Repayment on Default. (a) e Without limiting the rights of the Housing Agency, in the event of Default by the Providere the Housing Agency may, by serving notice on the Provider, require the Provider to pay ore repay to the Housing Agency (Repayment Notice) any or all ofthe Funding and any intereste earned on the Funding.e (b) e Clause 5.2(a) applies regardless of whether, as at the date of the Repayment Notice, part ore all of the Funding has already been expended by the Provider.e (c) e The Repayment Notice must contain the following information:e (i) e the Default on which the Housing Agency relies to require repayment of the Funding;e (ii) the amount of Funding (and any interest and surplus) required to be repaid by thee Provider to the Housing Agency; and (iii) e the date on which the repayment of Funding (and any interest and surplus) must bee paid to the Housing Agency.e (d) e The Provider must pay to the Housing Agency the amount of Funding (and any interest ande surplus) stipulated in the Repayment Notice by the due date stipulated in that Repaymente Notice.e (e)e The amount of Funding (and any interest and surplus) stipulated in the Repayment Notice ise a debt due and owing by the Provider and, without limiting the rights of the Housinge Agency, the Housing Agency may commence legal proceedings in any court of competente jurisdiction to recover that debt.e (t) e If the Provider fails to pay an amount on its due elate for payment under clause 5.2(a), thee Provider must on demand pay the Housing Agency interest calculated at the Overdue Ratee on the amount in default from the due date until it is paid in full.e
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Repayment on Default. 5.1 The Company will immediately notify the Noteholders of the happening of an Event of Default. 5.2 On the occurrence of an Event of Default, any Noteholder shall be entitled by notice in writing to the Company to require immediate repayment of the Indebtedness payable in respect of each Loan Note of which he is the holder (or any part, being £1 in principal amount or a multiple of it), up to but excluding the date of payment of such principal amount, and the Company will make such repayment. 5.3 An Event of Default will occur if: (a) non-payment: the Company fails to pay any principal or interest on any of the Loan Notes within 10 Business Days of the due date for payment; (b) breach of obligations: the Company fails to perform or observe any material covenant, condition or provision contained in this Instrument and that failure is not remedied within 5 days of notice of such default being given in writing to the Company by any Noteholder requiring the Company to remedy the same; (c) cross-default: the Company or any other member of the Group fails to pay any Financial Indebtedness when due or within any originally applicable grace period or any Financial Indebtedness of any member of the Group is declared to be or otherwise becomes due and payable or is cancelled before its specified maturity as a result of an event of default (however described); (d) insolvency: the Company or any other member of the Group is (or could be deemed by law or by a court to be) insolvent or unable to pay its debts (as defined in section 123 of the Insolvency Act 1986), stops, suspends or threatens to stop or suspend payment of all or any material part of its indebtedness or commences negotiations with any one or more of its creditors with a view to the general readjustment or re-scheduling of all or any material part of its indebtedness or makes a general assignment for the benefit of, or composition with, any of its creditors (or any class of its creditors) or a moratorium is agreed or declared in respect of, or affecting, all or a material part of its indebtedness; (e) enforcement proceedings: a distress, attachment, execution or other legal process is levied or enforced or judgment obtained upon or against a material part of the property of the Company or other member of the Group and is not discharged within 5 days of having been levied or obtained; (f) winding-up: an effective resolution is passed or an order is made for the winding up, dissolution or reorganisation of...
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Repayment on Default. (a) Without limiting the rights of the.Housing Agency, in the event of Default by the Provider the Housing Agency may, by serving notice on the Provider, require the Provider to pay or repay to the Housing Agency (Repayment Notice) any or all of the Funding and any interest earned on the Funding. (b) Clause 5.2(a) applies regardless of whether, as at the date of the Repayment Notice, part or all of the Funding has already been expended by the Provider. (c) The Repayment Notice must contain the following information: (i) the Default on which the Housing Agency relies to require repayment of the Funding; (ii) the amount of Funding (and any interest and surplus) required to be repaid by the Provider to the Housing Agency; and (iii) the date on which the repaymep.t of ▇▇▇▇.▇▇▇ (�g any interest and surplus) must be paid to the Housing Agency. (d) The Provider must pay to the Housing Agency the amount of Funding (and any interest and surplus) stipulated in the Repayment Notice by the due date stipulated in that Repayment Notice.
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Repayment on Default. The whole of the Loan with accrued interest thereon will become immediately due and payable upon the occurrence of any of the following (and you will promptly notify me in writing of the occurrence thereof):- (a) TMNA fails duly to perform or observe any obligation contained in this letter; (b) an order is made or effective resolution is passed for the dissolution or winding-up of TMNA or any other resolution is passed or order made having like effect in the jurisdiction in which it is passed or made; (c) TMNA is insolvent or calls a meeting of its creditors or makes any arrangement or composition with its creditors or does or suffers anything having like effect in any jurisdiction to which it is from time to time subject; (d) a receiver or trustee is appointed over the whole or any of the assets of TMNA any person is appointed to manage the affairs of TMNA or receive or dispose of its assets pursuant to any security issued or entered into by TMNA or to an order of a court of competent jurisdiction; (e) TMNA ceases to carry on any substantial part of its business or ceases to be entitled so to carry it on or disposes of any part of its business or assets (otherwise than in the normal course of its business); (f) any execution or distress or distraint is levied against TMNA or the whole or any of its assets which remains undischarged for 14 days or if any assets of TMNA are seized or fall to be disposed of pursuant to an order of a court of competent jurisdiction provided that notwithstanding the foregoing the proposed merger of TMNA and Transmedia Europe, Inc. and any consequential hive-down of assets shall not constitute an event of default.
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Repayment on Default. 5.1 The Company will immediately notify the Noteholders of the happening of an Event of Default. 5.2 On the occurrence of an Event of Default, any Noteholder shall be entitled by notice in writing to the Company to require immediate repayment of the Indebtedness payable in respect of each Loan Note of which he is the holder (or any part, being £1 in principal amount or a multiple of it), up to but excluding the date of payment of such principal amount, and the Company will make such repayment.
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Related to Repayment on Default

  • Payment on Maturity Date Borrower shall pay to Lender on the Maturity Date the outstanding principal balance of the Loan, all accrued and unpaid interest and all other amounts due hereunder and under the Note, the Mortgage and the other Loan Documents.

  • Termination on Default The Authority may terminate this Framework Agreement by serving written notice on the Supplier with effect from the date specified in such notice where the Supplier commits a Material Default and if: 26.8.1 the Supplier has not remedied the Material Default to the satisfaction of the Authority within twenty (20) Working Days, or such other period as may be specified by the Authority, after issue of a written notice specifying the Material Default and requesting it to be remedied; or 26.8.2 the Material Default is not, in the reasonable opinion of the Authority, capable of remedy.

  • Upon Default Landlord shall have the right to pursue any one or more of the following remedies: (a) Terminate this Lease, in which case Tenant shall immediately surrender the Premises to Landlord. If Tenant fails to surrender the Premises, Landlord, in compliance with Law, may enter upon and take possession of the Premises and remove Tenant, Tenant’s Property and any party occupying the Premises. Tenant shall pay Landlord, on demand, all past due Rent and other losses and damages Landlord suffers as a result of Tenant’s Default, including, without limitation, all Costs of Reletting (defined below) and any deficiency that may arise from reletting or the failure to relet the Premises. “Costs of Reletting” shall include all reasonable costs and expenses incurred by Landlord in reletting or attempting to relet the Premises, including, without limitation, legal fees, brokerage commissions, the cost of alterations and the value of other concessions or allowances granted to a new tenant.

  • 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

  • Termination; Default We may reduce the Credit Limit or terminate your ability to receive further credit under this Agreement at any time without notice. You may terminate your ability to receive further credit under this Agreement by giving us notice of termination and returning to us all Cards and Credit Devices. Termination by you will be effective on the date we receive written notice from you along with the Cards and Credit Devices (unless they are lost or stolen, in which case you agree to sign an affidavit to that effect and stating that no credit received after the date of loss or theft was authorized by you).