Default Remedy definition

Default Remedy. Limitations As set forth in Section 7.2(e)(ii). Defaulted Commitment As set forth in Section 7.2(e). Defaulting Members As set forth in Section 7.2(e). Delaware Act As set forth in Section 2.1(a). Director As set forth in Section 3.4(a).
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Default Remedy means the obligation of the G2 Partners to pay an amount equal to one hundred fifty percent (150%) of the projected monetary losses to the Buyer resulting from such breach calculated in accordance with the methodology set forth on Schedule 9(i). The parties hereby agree that the payment of the Default Remedy shall be the several and not joint obligation of the G2 Partners; provided, that no G2 Partner shall be liable for any amount greater than such G2 Partner’s Default Cap.
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Default Remedy means the obligation of the Sellers to pay an amount equal to one hundred fifty percent (150%) of the projected monetary losses to the Buyer resulting from such breach calculated in accordance with the methodology set forth on Schedule 9(i). The parties hereby agree that the payment of the Default Remedy shall be the joint and several obligation of the Sellers; provided, that no Seller shall be liable for any amount greater than such Seller’s Default Cap.
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Examples of Default Remedy in a sentence

  • Within ten (10) Business Days after Participating Lender has received from MHDC a request for approval of a Default Remedy, along with such other information as Participating Lender reasonably requires to evaluate the same, Participating Lender shall either: (a) confirm in writing to MHDC its approval of the Default Remedy, or (b) provide to MHDC a counterproposal for addressing the Mortgagor Default.

  • If Participating Lender does not respond to MHDC’s request to approve the Default Remedy within such ten (10) Business Day period, the Default Remedy shall be deemed approved by Participating Lender.

  • If Crest shall have delivered a Crest Default Remedy Instruction to the Collateral Trustee, the Collateral Trustee for the benefit of Crest shall have all of the rights and remedies with respect to the Collateral of a secured party under the Uniform Commercial Code.

  • If a breach occurs then the breaching party will comply with the terms provided in Section 22, Default; Remedy.

  • For the avoidance of doubt, in no event shall the exercise of the Buyer’s and the Company’s right to specific performance pursuant to this Section 9(i)(i) reduce, restrict or otherwise limit the Buyer’s right to pursue the Default Remedy (as defined below).

  • In furtherance of the foregoing, the Noteholder hereby directs the Trustee not to exercise any Default Remedy at any time prior to the Cutoff Date solely as a result of the occurrence of any [Potential] Default.

  • If Crest shall have delivered a Crest Default Remedy Instruction to the Collateral Trustee, the Collateral Trustee for the benefit of Crest shall have all of the rights and remedies with respect to the Pledge Agreement Collateral of a secured party under the Uniform Commercial Code.

  • Injunction is the Default Remedy Injunctive relief drives settlements.

  • The remedies set out in Schedule 6 (Performance Default Remedy Mechanism) shall be entirely without prejudice to any right or remedy available to the Council and/or the ALMO pursuant to the Contract, under statute or in common law.

  • If a breach occurs then the breaching party will comply with the terms provided in Section 21, Default; Remedy.


More Definitions of Default Remedy

Default Remedy. Limitations As set forth in Section 7.2(e)(ii). Delaware Act As set forth in Section 2.1(a). Disclosure Laws As set forth in Section 13.5(h)(iv). Drawdown As set forth in Section 7.2(a). Drawdown Notice As set forth in Section 3.3(a). Drawn Amounts As set forth in Section 7.2(a). DRP The Company intends to adopt a dividend reinvestment program, pursuant to which each Member will receive dividends in the form of additional Shares unless they notify the Company that they instead desire to receive cash. For more information on the DRP, please refer to the Company's PPM. ERISA The Employee Retirement Income Security Act of 1974, as amended. Exchange Act The U.S. Securities Exchange Act of 1934, as amended. Financing As set forth in Section 4.1(a). FOIA As set forth in Section 13.5(h)(vi).
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Default Remedy. Limitations As set forth in Section 7.2(e)(ii). Delaware Act As set forth in Section 2.1(a). Disclosure Laws As set forth in Section 13.6(h)(iv). Drawdown As set forth in Section 7.2(a). Drawn Amounts As set forth in Section 7.2(a). Exchange Act The U.S. Securities Exchange Act of 1934, as amended. Existing Agreement As set forth in the introductory paragraph of this Agreement. Financing As set forth in Section 4.2(a). FOIA As set forth in Section 13.6(h)(vi). Fund As set forth in the introductory paragraph of this Agreement. Fund Expenses As set forth in Section 6.1. former Members As set forth in Section 3.2(a). GAAP As set forth in Section 13.1(a).
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Related to Default Remedy

  • Default Right has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

  • Default Notice means the written notice of Default of the Agreement issued by one Party to the other.

  • Default Rights has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

  • Permitted Remedies means, with respect to any securities, one or more of the following remedies:

  • Customer Default shall have the meaning set forth in Section 11.1.

  • Monetary Default Notice shall have the meaning assigned to such term in Section 11(a).

  • Forbearance Default means: (A) the failure of the Company to provide the Noteholder Group and its financial advisors with reasonable access, as determined by the Noteholder Group in its reasonable discretion, to its Chief Executive Officer, other senior executives and outside advisors, including representatives of Xxxxx Xxxxx Xxxxxx that are working with the Company, and to provide the Noteholder Group and its legal and financial advisors with any and all due diligence information they may reasonably request, including, without limitation, the Company’s current 13-week cash flow schedule, and all updates thereto as soon as reasonably practicable after they are prepared, but in no event no later than two (2) business days thereafter; (B) the failure of the Company to engage in good faith negotiations with the Noteholder Group regarding a potential restructuring transaction, which determination shall be made by the Noteholder Group in its reasonable discretion; (C) the failure of the Company to promptly notify the Noteholder Group of the occurrence of a Forbearance Default (as defined in the DDJ Third Amended Forbearance Agreement) under the DDJ Third Amended Forbearance Agreement or any amendment or modification to the DDJ Third Amended Forbearance Agreement; (D) termination of the DDJ Third Amended Forbearance Agreement; (E) the execution of any amendment or modification to the DDJ Third Amended Forbearance Agreement, which amendment or modification has a material adverse effect on the Noteholder Group as determined by the Noteholder Group in its reasonable discretion; (F) termination by the Company of the Xxxxxx Engagement Letter or the failure of the Company to pay Xxxxxx’x fees, expenses and indemnity in accordance with the terms of the Xxxxxx Engagement Letter; (G) the occurrence of any Event of Default that is not a Specified Existing Default; (H) the failure of the Company to comply with any term, condition, covenant or agreement set forth in this Third Amended Forbearance Agreement; (I) the failure of any representation or warranty made by the Company under this Third Amended Forbearance Agreement to be true and correct in all material respects as of the date when made; (J) the commencement by or against the Company or any of the Subsidiaries of a case under title 11 of the United States Code; or (K) the commencement of any action or proceeding by any creditor of the Company or any of the Subsidiaries seeking to attach or take similar action against the assets of the Company or the Subsidiaries. Any Forbearance Default shall constitute an immediate Event of Default under the Indenture.

  • Exercise of Secured Creditor Remedies means, except as otherwise provided in the final sentence of this definition:

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Non-Monetary Default Notice shall have the meaning assigned to such term in Section 11(d).

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Debenture Event of Default means an "Event of Default" as defined in the Indenture.

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Default means any event that is, or with the passage of time or the giving of notice or both would be, an Event of Default.

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Landlord Default shall have the meaning given such term in Article 14.

  • Default Requirement means the amount specified as being applicable to the Reference Entity in the relevant Standard applicable to such Reference Entity or, if no such amount is specified, U.S.$10,000,000 or its equivalent in the relevant Obligation Currency, in either case as of the occurrence of the Credit Event.

  • Owner Event of Default shall have the meaning set forth in Section 12.3 hereof

  • Event of Default has the meaning specified in Section 8.01.

  • Default Under First Lien With respect to each Second Lien Loan, the related First Lien Loan related thereto is in full force and effect, and there is no default, breach, violation or event which would permit acceleration existing under such first Mortgage or Mortgage Note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration thereunder;

  • Seller Default has the meaning set forth in Section 11.2.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Non-Monetary Default Cure Period shall have the meaning assigned to such term in Section 11(d).