Example ContractsClausesDefault and Remedies
Default and Remedies
Default and Remedies contract clause examples

Default and Remedies. The occurrence of any default or event of default (“Default”), as defined in the Loan Agreement and/or the Loan Documents, shall constitute a Default of and under this Note.

Borrowers fail to pay within ten (10) days after its due date any installment or other amount due under any of the Debt Documents;

Default and Remedies. If Subtenant defaults or breaches any of its obligations hereunder, in each instance beyond applicable notice and cure periods, if any, [[Organization A:Organization]] shall be entitled to exercise against Subtenant any or all of the rights and remedies set forth in the Lease which may be exercised by the Landlord upon an Event of Default (as defined in the Lease) by [[Organization A:Organization]] thereunder and all other rights and remedies provided by law, and such rights and default remedies shall be deemed incorporated herein by reference and shall apply to and be enforceable by [[Organization A:Organization]] against Subtenant and the Subleased Premises as if fully set forth herein. Without limiting the foregoing sentence, [[Organization A:Organization]] shall have the right (but not the obligation) after the expiration of any applicable notice and cure period, to itself cure any default on the part of Subtenant at the expense of Subtenant, without further notice to Subtenant, and all reasonable sums incurred by [[Organization A:Organization]] in performing such duty shall be due and payable upon demand by [[Organization A:Organization]]. Subtenant further agrees that any one or more of the following events shall constitute a "default" as said term is used herein, and after applicable notice and cure periods, shall constitute an “Event of Sublease Default”:

Default and Remedies. Subtenant shall be in material default of its obligations under this Sublease if Subtenant commits any act or omission which constitutes an event of default under the Master Lease, which has not been cured after delivery of written notice and passage of any applicable grace period provided in the Master Lease as modified, if at all, by the provisions of this Sublease. In the event of any default by Subtenant, Sublandlord shall have all remedies provided pursuant to [Section 19.2] of the Master Lease, as incorporated herein, and by applicable law, including damages that include the worth at the time of award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of such rental loss that the lessee proves could be reasonably avoided and the remedy described in California Civil Code Section 1951.4 (lessor may continue lease in effect after lessee’s breach and abandonment and recover rent as it becomes due, if lessee has right to sublet or assign, subject only to reasonable limitations.)

Default Remedies. Upon the occurrence of a Default, the entire unpaid Principal, together with accrued and unpaid Interest, shall be immediately due and payable without notice or demand and, while in Default, all amounts due under this Note shall bear interest at the rate equal to the lesser of twelve percent (12%) per annum or the highest rate permitted to be charged by applicable law. In addition, Maker agrees to pay the costs of collection, including, without limitation, reasonably attorneys’ fees and expenses, in the event of a Default, whether or not a lawsuit is brought.

17.1Default by Tenant. Landlord and Tenant hereby agree that the occurrence of any one or more of the following events is a default by Tenant under this Lease and that said default shall give Landlord the rights described in [Section 17.2]. Landlord or Landlord's authorized agent shall have the right to execute and to deliver any notice of default, notice to pay rent or quit or any other notice Landlord gives Tenant.

Default and Remedies. In the event that:

Default Remedies. At any time and from time to time following the occurrence of any Event of Default, Lender may accelerate this Note by written notice to Borrower, with the Outstanding Balance becoming immediately due and payable in cash at the Mandatory Default Amount. Notwithstanding the foregoing, upon the occurrence of any Trigger Event described in [clauses (b), (c), (d), (e) or (f) of Section 4.1], an Event of Default will be deemed to have occurred and the Outstanding Balance as of the date of the occurrence of such Trigger Event shall become immediately and automatically due and payable in cash at the Mandatory Default Amount, without any written notice required by Lender for the Trigger Event to become an Event of Default. At any time following the occurrence of any Event of Default, upon written notice given by Lender to Borrower, interest shall accrue on the Outstanding Balance beginning on the date the applicable Event of Default occurred at an interest rate equal to the lesser of twenty-two percent (22%) per annum or the maximum rate permitted under applicable law (“Default Interest”). In connection with acceleration described herein, Lender need not provide, and Borrower hereby waives, any presentment, demand, protest or other notice of any kind, and Lender may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by Lender at any time prior to payment hereunder and Lender shall have all rights as a holder of the Note until such time, if any, as Lender receives full payment pursuant to this Section 4.4. No such rescission or annulment shall affect any subsequent Trigger Event or Event of Default or impair any right consequent thereon.

Remedies Upon Default. If an Event of Default occurs, except where otherwise provided in this Agreement or the Loan Documents, all commitments and obligations of Lender under this Agreement or the Loan Documents or any other agreement with Borrower will terminate (including any obligation to make further advances under the Loan), and, at Lender’s option during the continuance of such Event of Default, all indebtedness will immediately become due and payable, all without notice of any kind to Borrower or Guarantor. In addition, Lender shall have all the rights and remedies provided in the Loan Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender’s rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any grantor shall not affect Lender’s right to declare a default and to exercise its rights and remedies.

Remedies Upon Default. Upon the occurrence of any event of default by Tenant, Landlord shall have, in addition to any other remedies available to Landlord at law or in equity (all of which remedies shall be distinct, separate and cumulative), the option to pursue any one or more of the following remedies, each and all of which shall be cumulative and nonexclusive, without any separate notice or demand whatsoever.

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