Default and Breach Clause Samples
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Default and Breach. 2.01 The following shall constitute events of default hereunder,
(a) The failure of the Mortgagor to pay any sum required to be paid in the Note or in this Mortgage when the same is payable.
(b) The failure of the Mortgagor to perform any covenant or agreement in the Note or in this Mortgage.
(c) Any assignment for the benefit of ▇▇▇▇▇▇▇▇▇’s creditors, or other proceedings intended to liquidate, reorganize, or rehabilitate ▇▇▇▇▇▇▇▇▇’s estate, or ▇▇▇▇▇▇▇▇▇’s becoming insolvent within the meaning of the federal bankruptcy law, or the rendering of any judgment or execution or the appointment of a receiver.
(d) The occurrence of any event of default as defined in the Note or Contract.
(e) The mortgaging or encumbering of the premises subsequent to this Mortgage, without the express written permission of the Mortgagee, voluntarily or involuntarily.
(f) The changing of the use of the Premises by the Mortgagor prior to twenty (20) years from the effective date of this Mortgage to a use other than providing approved behavioral health services as determined by Mortgagee.
(g) The happening or occurrence of any event or act which in any manner violates the purpose and/or implementation of this Mortgage, legal or otherwise, or which jeopardizes or otherwise lessens the value of the security provided for herein with or without fault on the Mortgagor’s part.
(h) In the event that the need for the original use of the mortgaged premises no longer exists, the failure of the Mortgagee and Mortgagor to come to a mutual agreement on a use similar to the original use of the mortgaged premises or a new use for the mortgaged premises.
2.02 Upon happening of any one or more of said events of default, the entire unpaid balance of the principal, and all other sums and/or reimbursements secured by the Mortgage shall, at the option of the Mortgagee, become immediately due and payable without notice or demand, and in any such event of default, Mortgagee may forthwith:
(a) Institute an action of Mortgage foreclosure, or take such other action as the law may allow, at law or in equity, for the enforcement thereof as herein or elsewhere provided for, and proceed thereon to final judgment and execution thereon for the entire unpaid balance of said sum, together with all other sums and/or reimbursements secured by this Mortgage, all costs of suit, and costs of Sheriff’s sale of the Premises (which Premises may be sold in one parcel or in such parcels, manner, or order as the Mortgagee shal...
Default and Breach. If either Party defaults in the payment of any amount due hereunder, or if either Party violates any other material provision of this Agreement and such default or violation continues for thirty (30) Days after written notice thereof, the other Party may terminate this Agreement and seek relief in accordance with any remedy available under this Agreement, including without limitation, the Dispute Resolution provisions of Section 25 herein and, in addition to the foregoing, Qwest may cease to accept orders from CLEC for Services in accordance with Section 8.2 above. The remedies available to each Party pursuant to this Agreement are not to be considered exclusive of one another and will be cumulative.
Default and Breach. If either Party defaults in the payment of any amount due hereunder, or if either Party violates any other material provision of this Agreement and such default or violation continues for thirty (30) Days after written notice thereof, the other Party may terminate this Agreement and seek relief in accordance with the Dispute Resolution provision, or any remedy under this Agreement.
Default and Breach. If either Party defaults in the payment of any amount due hereunder, or if either Party violates any other material provision of this Agreement, including, but not limited to, Sections 6, 7, 8, 13, 16, 21, 29, 31, 32, 34, and 35, and such default or violation continues for thirty (30) calendar Days after written notice thereof, the other Party may terminate this Agreement and seek relief in accordance with the Dispute Resolution provision, or any remedy under this Agreement.
Default and Breach. Any one of the following events shall constitute a default of this Agreement by Licensee;
A. Voluntary or involuntary bankruptcy on the part of the Licensee;
B. Failure by Licensee to pay the use cost when said use cost shall become due, and the Licensee shall not make payment within thirty (30) days after written notice thereof by the Licensor to the Licensee;
C. Failure of the Licensee to perform or comply with any of the conditions of this Agreement and if the nonperformance or noncompliance shall continue for a period of thirty (30) days after written notice thereof by the Licensor to the Licensee; and
D. the Premises by the Licensee. This section shall not be construed as a limitation on Licensor to declare a default.
Default and Breach. (a) In the event the Real Property Seller defaults in the performance of any of its obligations under this Agreement and shall not have cured such default within thirty (30) days after notice of such default from Purchaser, then the Purchaser may either (i) terminate this Agreement and receive a return of the Escrow Money, in which case neither party shall have any obligations under this Agreement (except for the Purchaser’s indemnification obligations under Section 5 and the parties’ obligations under Section 11(a), which shall survive any such termination) or (ii) pursue and obtain specific performance of such obligations under this Agreement.
(b) In the event the Purchaser defaults in the performance of any of its obligations under this Agreement and shall not have cured such default within thirty (30) days after notice of such default from Real Property Seller, then the Real Property Seller may demand that the Escrow Money be paid to the Real Property Seller to be applied against any damages the Real Property Seller may sustain as a result of the Purchaser's default, in which case any escrow agent holding the Escrow Money shall pay the Escrow Money to the Real Property Seller to be applied against such damages, but the receipt of the Escrow Money or any part thereof by the Real Property Seller shall not preclude the Real Property Seller from pursuing additional damages recoverable at law, if any, which the Real Property Seller has sustained due to such default of the Purchaser.
Default and Breach. 6.1 Both Parties agree and acknowledge that if Party B (the “Defaulting Party”) materially breaches any of the covenants made under the Agreement or materially fails to perform any of its obligations under the Agreement, it shall constitute a default under the Agreement (a “Default”). Party A shall have the right to require the Defaulting Party to make supplements and corrections or take remedial measures within a reasonable period. If the Defaulting Party fails to make supplements and corrections or take remedial measures within a reasonable period or within fifteen (15) days after Party A has notified the Defaulting Party in writing of the request for corrections, Party A shall have the right, at its sole discretion, to (1) terminate the Agreement and demand full damages from the Defaulting Party; or (2) require mandatory performance of the Defaulting Party’s obligations under the Agreement and demand full damages from the Defaulting Party, which shall be the range of all actual economic losses caused to Party A by the breach, including but not limited to attorneys’ fees, litigation or arbitration costs incurred in connection with litigation or arbitration proceedings relating to such breach. This Article is without prejudice to any other rights of Party A under the Agreement.
6.2 Notwithstanding the provisions of Article 6.1 above, both Parties agree and acknowledge that Party B shall not, under any circumstances, seek to terminate the Agreement for any reason whatsoever, except as otherwise provided by law or the Agreement.
6.3 Both Parties agree that Article 6 shall continue in effect regardless of any modification, abrogation or termination of the Agreement.
Default and Breach. 14.01 If the Lessee repudiates this Master Agreement by a breach of its obligations hereunder and/or under any Lease Contract Simo▇ ▇▇▇ ▇▇ notice to the Lessee accept such breach as terminating this Master Agreement and all Lease Contracts entered pursuant hereto or as terminating any Lease Contract in relation to which any such breach has occurred.
14.02 Without prejudice to the generality of Clause 14.01 above Simon and the Lessee hereby agree that any of the following events or any of the Termination Events shall constitute a repudiatory breach by the Lessee of this Master Agreement and each Lease Contract entered into pursuant hereto:
(i) if the Lessee shall fail to pay any sum payable by it hereunder or under any Lease Contract in full when due or on demand within two (2) Banking Days of such due date or date of demand (as the case may be); or
(ii) if the Lessee shall commit or cause to be committed any breach of any other term or condition of this Master Agreement or any Lease Contract provided that in the case of a breach capable of remedy Simon shall have first given written notice to the Lessee specifying the fault or breach complained of and requiring the same to be remedied within fourteen (14) days of the service of the said notice and the Lessee shall have failed to comply therewith; or
(iii) if the Lessee shall convene any meeting of creditors or make any assignment or arrangement for the benefit of creditors generally or if a meeting be convened for the purpose of considering a resolution that the Lessee be wound up voluntarily or if the Lessee shall fail to answer the allegations contained in any petition for a winding up of the Lessee followed by an amalgamation or reconstruction on terms approved by Simon or if an order to wind up the Lessee shall be made or if any application for the appointment of an administrator of the Lessee shall be presented or a receiver shall be appointed over all or any part of the Lessee's undertaking or assets; or
(iv) if any obligation of the Lessee under any hire purchase or credit or conditional sale or lease agreement or any loan, debt, or other financial obligation of the Lessee shall not be paid at maturity or when due or if the same shall become due prior to its specified maturity by reason of default, or if the Lessee shall fail to meet its obligations under any guarantee or indemnity when properly called upon to do so; or
(v) if any diligence, distress or execution (other than arrestment to found juri...
Default and Breach. It is a breach of this Agreement if a party fails to perform any obligation hereunder, and then fails to cure such default within the applicable cure period noted below, if any:
(a) The failure to pay any monetary obligation due under this Agreement, followed by a failure to cure such default within five (5) days of notice of the default;
(b) There are more than three breaches of the Protocols and Procedures in any 90 day period by one or more Agents;
(c) The failure to perform any other obligations required under this Agreement followed by a failure to cure such default within thirty (30) days of notice of the default;
(d) Any assignment of the Agreement without consent where consent is required.
Default and Breach. In the event either Party violates any of the material terms and conditions of this Agreement and such default remains uncured for a period of thirty