Company Default Sample Clauses

Company Default. In case one or more of the following events of default by the Company (each, a “Company Default”) shall occur and be continuing, that is to say:
AutoNDA by SimpleDocs
Company Default. The failure by the Company to pay or perform any material obligation hereunder (including, without limitation, a breach of its obligations under Section 8 below) which failure is not cured within two (2) business days of the Company’s receipt of written notice from the Guarantor of such failure shall constitute a default hereunder. Upon any such default by the Company, the Guarantor’s obligations to pay the Guarantor Payments shall be terminated. Notwithstanding anything to the contrary in this Agreement, the Company shall indemnify, defend and hold the Guarantor harmless from and against all losses (including, without limitation, reasonable attorneys fees and court costs) incurred by the Guarantor as a result of the Company’s failure to comply with its obligations hereunder; provided that Company’s maximum liability to the Guarantor under this Agreement shall not exceed $1.3 million.
Company Default. For purposes of this Agreement, a "Company Default" shall occur upon any of the following events:
Company Default. If Company fails to disprove or correct the violation within thirty (30) days, or, in the case of a violation which cannot be corrected in thirty (30) days, Company has failed to initiate a reasonable plan of corrective action and to correct the violation within the specified time frame in such plan, then the Licensor may declare in writing that Company is in default.
Company Default. The occurrence and continuation of any of the following events, unless any such event occurs as a result of Force Majeure event or a breach by the HPSEBL of its obligations under the Agreement, shall constitute a "Company Event of Default”.
Company Default. A Company Default shall be deemed to have occurred with respect to the Policy if the Company fails to pay a Premium on the Policy as required under the terms of the Agreement within sixty (60) days after the due date for such Premium, or if the Company processes or attempts to process a policy loan, or a complete or partial surrender, or a cash value withdrawal without prior written approval from the Assignees.
Company Default. A Company Default shall be deemed to have occurred with --------------- respect to the Policy if the Company fails to pay a premium on the Policy as required under the terms of this Agreement within sixty (60) days after the due date for such premium, or if the Company processes or attempts to process a policy loan, or a complete or partial surrender, a face amount reduction, or a cash value withdrawal without prior written approval from the Owner. In the event of a Company Default, the Owner shall have the right to require the Company to cure the Company Default by notifying the Company in writing within sixty (60) days after the Company Default occurs, or if later, within thirty (30) days after the Owner becomes aware of the Company Default. If the Company fails to cure the Company Default within sixty (60) days after being notified by the Owner of the Company Default, the Owner shall have the right to require the Company to transfer its interest in the Policy to the Owner. The Owner may exercise this right by notifying the Company, in writing, within sixty (60) days after the end of the period given to the Company to cure the Company Default pursuant to the preceding sentence. Upon receipt of such notice, the Company shall immediately transfer its rights in the Policy to the Owner, either by a release of the Collateral Assignment, or by a transfer of ownership if the Company is the owner of the Policy, and the Company shall thereafter have no rights with respect to such Policy. The Owner's failure to exercise its rights under this Section shall not be deemed to release the Company from any of its obligations under the Plan, and shall not preclude the Owner from seeking other remedies with respect to the Company Default. Also, the Owner's failure to exercise its rights under this Section will not preclude the Owner from exercising such rights upon a later Company Default.
AutoNDA by SimpleDocs
Company Default. The occurrence of any of the following actions shall constitute a default by the Company (a “Company Default”):
Company Default. Company shall be in default (each a “Company Default”) hereunder if:
Company Default. In the event the Company defaults under the terms and obligations of the Development Agreement assigned hereunder and does not cure the default in accordance with the terms of the Development Agreement, the Company acknowledges the Authority and the City have the right pursue any remedies against the Company as provided in the Development Agreement without any notice to and without seeking any remedy from the Landlord.
Time is Money Join Law Insider Premium to draft better contracts faster.