Default Rights and Remedies definition

Default Rights and Remedies means any and all rights and remedies granted in, arising from, or relating to any agreement, instruction, or document and any and all rights and remedies now or hereafter existing by statute, at law, or in equity, which may be exercised only upon the occurrence of a breach or event of default.
Sample 1Sample 2Sample 3

Examples of Default Rights and Remedies in a sentence

  • The agreement of the Agent and the Lenders under Section 2 of this Agreement conditionally to forbear from exercising their Default Rights and Remedies throughout the Forbearance Period shall not constitute a waiver of any of their Default Rights and Remedies, and the Agent and the Lenders hereby expressly reserve all such Default Rights and Remedies.

  • The Company, in its discretion, may maintain a policy or policies insuring the Committee members, the Directors, and other employees to whom any responsibility with respect to the administration of the Plan has been delegated against any and all costs, expenses, and liabilities (including attorneys' fees) incurred by such persons as a result of any act, or omission to act, in connection with the performance of their duties, responsibilities and obligations under the Plan and any applicable law.

  • Creditor agrees that it will not exercise any Default Rights and Remedies concerning the Creditor Indebtedness, so long as any amount is outstanding and unpaid on the Lender Indebtedness, without the prior written consent of Lender, except that, in the event that a Borrower files for bankruptcy relief, Creditor may file a proof of claim in the bankruptcy.

  • In consideration of the agreement of the Agent and the Lenders to enter into this Agreement and hereby conditionally forbear from exercising their available Default Rights and Remedies throughout the Forbearance Period, the Borrower shall pay to the Agent, for the ratable benefit of the Lenders, a one-time forbearance fee in the amount of $25,000 (the “Forbearance Fee”).

  • Creditor agrees that it will not exercise any Default Rights and Remedies concerning the Creditor Indebtedness, so long as any amount is outstanding and unpaid on the Lender Indebtedness, without the prior written consent of Lender, except that, in the event that BDI files for bankruptcy relief, Creditor may file a proof of claim in the bankruptcy.

  • Creditors agree that they will not exercise any Default Rights and Remedies concerning the Creditor Indebtedness, so long as any amount is outstanding and unpaid on the Lender Indebtedness, without the prior written consent of Lender, except that, in the event that BDI files for bankruptcy relief, Creditors may file a proof of claim in the bankruptcy.

  • It was subsequently found that public opinion mirrored these same positive and negative fi'ameworks (Marks, Kalaitzandonakes, Wilkins & 2^akharova, 2007).

  • The foregoing shall not limit or otherwise restrict FGI from exercising any Default Rights and Remedies under the FGI Financing against UK Client, the FGI Collateral or against any collateral other than the Summit Collateral that secures the obligations owing under or otherwise related to the FGI Financing.

  • Systems requiring proprietary database and user interface programs are not acceptable.

  • Certain Agreements 75 Article X - Reserved 75 Article XI - Events of Default, Rights and Remedies 75 Section 11.01.

Related to Default Rights and Remedies

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

  • 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.

  • Remedies means actions designed to restore or preserve the complainant’s equal access to education after a respondent is found responsible. Remedies may include the same individualized services that constitute supportive measures, but need not be non-punitive or non-disciplinary, nor must they avoid burdening the respondent.

  • 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.

  • 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).

  • Indemnity Obligations means all obligations of the Company to Indemnitee under this Agreement, including the Company’s obligations to provide indemnification to Indemnitee and advance Expenses to Indemnitee under this Agreement.

  • Required Percentage-Remedies shall be 66-2/3% of the aggregate Voting Rights.

  • Exercise Any Secured Creditor Remedies or “Exercise of Secured Creditor Remedies” shall mean, except as otherwise provided in the final sentence of this definition:

  • 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.

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

  • 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.

  • Access Rights means licences and user rights to foreground or background;

  • Breach of trust means a breach of any duty imposed on a trustee by this Act or by the terms of the trust;

  • Events of Default has the meaning specified in Section 6.01.

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Bond Event of Default means the occurrence of any of the following (or such event or condition which with notice or lapse of time or both would constitute any of the following):

  • Existing Defaults means, collectively, the Events of Default identified on Exhibit A hereto.

  • 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;

  • Specified Event of Default means an Event of Default under Section 7.01(a), (b), (h) or (i).

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

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

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.