Rights Upon Default. In the event of the nonpayment of said rent, or any installment thereof, at the time in the manner above provided, or if the TENANT shall be dispossessed for nonpayment of rent, or if the leased premises shall be deserted, or vacated, the LANDLORD or its agents shall have the right to enter the said premises as the agent of the TENANT either by force or otherwise and may relet the premises as the agent of the TENANT, and receive the rent thereof, upon terms that may be reasonable and satisfactory to the LANDLORD, and all rights of the TENANT to repossess the premises under this lease shall be forfeited. Such re-entry by the LANDLORD shall not operate to release the TENANT from any rent to be paid or covenants to be performed hereunder during the full term of this lease. For the purpose of re-letting the LANDLORD shall be authorized to make such reasonable repairs or alterations in or to the leased premises as may be necessary to restore the premises to rentable condition. The TENANT shall be liable to the LANDLORD for the cost of such repairs or alterations, and all reasonable expenses of such re-letting. If the sum realized or to be realized from this letting is insufficient to satisfy the monthly or term rent provided in this lease, the LANDLORD, at his option may require the TENANT to pay such deficiency month by month, or may hold the TENANT in advance for the entire deficiency to be realized during the term of re-letting. The TENANT shall not be entitled to any surplus funds accruing as a result of the re-letting. The TENANT agrees to pay, as additional rent, all reasonable Attorneys’ fees and other expenses incurred by the LANDLORD in enforcing any obligations under this lease.
Rights Upon Default. Upon and during the continuation of an Event of Default, the Non-Defaulting Party shall be entitled to:
Rights Upon Default. Upon and during the continuation of an Event of Default, the Non-Defaulting Party shall have the right to suspend performance, provided that such suspension shall not continue for longer than ten (10) Business Days. At any time during or subsequent to the temporary suspension of performance, the Non-Defaulting Party may proceed with the steps outlined in Sections 5.6 and 5.7. In addition to any other remedies available at law or in equity to the Non-Defaulting Party, if an Event of Default has occurred and is continuing, the Non-Defaulting Party shall have the right to implement either or both of the following remedies:
Rights Upon Default. Lender may, at any time and from time to time after the occurrence and during the continuance of an Event of Default, whether before or after notification to any Customer and whether before or after the maturity of any of the Obligations: (A) enforce collection of any of the Accounts (including all Eligible Accounts) and Receipts of the Credit Parties or other amounts owed to the Credit Parties by suit or otherwise; (B) exercise all of the rights and remedies of the Credit Parties with respect to Proceedings brought to collect any Accounts (including all Eligible Accounts), Receipts, or other amounts owed to the Credit Parties; (C) surrender, release or exchange all or any part of any Accounts (including all Eligible Accounts), Receipts, or other amounts owed to the Credit Parties, or compromise or extend or renew for any period (whether or not longer than the original period) any indebtedness thereunder; (D) sell or assign any Account (including all Eligible Accounts) or Receipts of the Credit Parties, or other amount owed to the Credit Parties, upon such terms, for such amount and at such time or times as Lender deems advisable; (E) prepare, file and sign any Credit Parties’ name on any proof of claim in bankruptcy or other similar document against any Customer or other Person obligated to the Credit Parties; and (F) do all other acts and things which are necessary, in Lender’s sole discretion, to fulfill the Credit Parties’ obligations under this Agreement and the other Loan Documents and to allow Lender to collect the Accounts (including all Eligible Accounts), Receipts, or other amounts owed to the Credit Parties. In addition to any other provision hereof, Lender may at any time after the occurrence and during the continuance of an Event of Default, at the Credit Parties’ expense, notify any parties obligated on any of the Accounts (including all Eligible Accounts) and Receipts to make payment directly to Lender of any amounts due or to become due thereunder.
Rights Upon Default. (a) If an Event of Default shall occur and be continuing, the Secured Party may exercise, in addition to all other rights and remedies granted to it in this Agreement and in any other instrument or agreement securing, evidencing or relating to the Obligations, all rights and remedies of a secured party under the Uniform Commercial Code (the "Code") as in effect from time to time in the applicable jurisdiction. Without limiting the generality of the foregoing, the Secured Party, without demand of performance or other demand, presentment, protest, advertisement or notice of any kind (except the notice specified below of time and place of public or private sale) to or upon the Pledgor or any other person (all and each of which demands, presentment, protest, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver said Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels at public or private sale or sales, at any exchange, broker's board or office of the Secured Party or elsewhere upon such terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk. The Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales, to purchase the whole or any part of said Collateral so sold, free of any right or equity of redemption in the Pledgor, which right or equity is hereby waived or released. The Pledgor further agrees, at the Secured Party's request, to assemble the Collateral and make it available to the Secured Party at places which the Secured Party shall reasonably select, whether at the Pledgor's premises or elsewhere. The Secured Party shall apply the net proceeds of any such collection, recovery, receipt, appropriation, realization or sale, after deducting all reasonable costs and expenses of every kind incurred therein or incidental to the care or safekeeping of any of the Collateral or in any way relating to the Collateral or the rights of the Secured Party hereunder, including, without limitation, attorneys' fees and disbursements, to the payment in whole or in part of the Obligations, in such order as the S...
Rights Upon Default. 20.1 A “Default” occurs if there is a failure to perform the Secured Obligation or if there is a breach of the terms of the Pledge Agreement by the Pledgor or the Person owing the Secured Obligation. 20.2 Upon Default the Pledgeholder has the right to take possession of the Collateral. 20.3 If the Pledgeholder elects to proceed by judicial action, the Pledgeholder shall file an application for execution with the court with appropriate jurisdiction requesting an order authorizing the Collateral to be seized and delivered to the Pledgeholder. Objection against the application for execution is not allowed. A pledge agreement under which a pledge has been perfected shall have effect of an executive title with respect to collateral and proceeds covered by the pledge agreement and this law. 20.4 On the application for execution a court shall call a hearing limited to following issues: a) whether there is an perfected pledge, and b) whether there has been a default. Upon such a showing by the pledgeholder, the burden shall be upon the pledgeholder to prove otherwise. 20.5 Pledgor has right to be notified about the hearing latest five days before the hearing, by telegram and notice board in the court. If the debtor himself or by his representative does not show up at the hearing, the court shall adopt pledgeholder's application for execution. 20.6 Upon a finding favorable to the pledgeholder, the court shall issue an order designating a law execution officer and directing the officer to seize the collateral from the pledgor or person who is in possession of the collateral and deliver it to the pledgeholder or its authorized agent. The execution officer need not give prior notice of seizure to the pledgor or any person in possession of the collateral. 20.7 The pledgeholder is obliged to pay advance money according to court order, and after termination of procedure to pay actual costs associated with the seizure. The decision on costs may be reviewed by the court upon the request of pledgeholder. 20.8 Execution officer may not refuse to make or continue a seizure unless it has not been furnished with security for fees required to perform the seizure. 20.9 The application for execution shall be adjudicated by the court no later than three business days after the date of its submission. The appeal against the execution order may be filed to the court of second instance within 8 days as of the day of receipt. Filing of appeal shall not postpone a seizure. 20.10 If the ...
Rights Upon Default. 13.1 If any Event of Default exists, Lender may exercise in any order one or more of the remedies described in the lettered subparagraphs of this section, and Borrower shall perform its obligations imposed thereby:
Rights Upon Default. If either of the Parties is in default as described above, then (A) if Customer is in default, TLO may or (B) if TLO is in default, Customer may: (1) terminate this Agreement upon notice to the defaulting Party; (2) withhold any payments due to the defaulting Party under this Agreement; and/or (3) pursue any other remedy at law or in equity.
Rights Upon Default. Upon the occurrence or continuing of any Event of Default, the Bank shall have and may exercise any or all of the rights set forth herein (provided, however, the Bank shall be under no duty or obligation to do so):
Rights Upon Default. In the event of such an Event of Default under 6.1, the Non- Defaulting Party shall be entitled to (i) pursue any and all available legal and equitable remedies, including arbitration, in accordance with Article 17 below; and (ii) terminate this Agreement by written notice to the Defaulting Party, subject to any applicable regulatory requirements that would limit such termination; and such termination shall be without any further liability or responsibility whatsoever except for obligations arising prior to the date of termination.
