Example ContractsClausesEvent of Default
Event of Default
Event of Default contract clause examples

Event of Default. The occurrence of any of the following will constitute an “Event of Default” under this Note:

Event of Default. Each of the following shall constitute an “Event of Default”: # Tenant’s failure to make when due any payment of the Rent, additional rent or other sum, which failure shall continue for a period of five (5) days after receipt of notice of such failure; # Tenant’s failure to perform or observe any covenant or condition of this Lease not otherwise specifically described in this [Section 19.1], which failure shall continue for a period of thirty (30) days after notice of such failure, provided that, where a cure cannot reasonably be effectuated within such time, Tenant shall have such additional time as may be reasonably necessary under the circumstances so long as Tenant has commenced a cure within fifteen (15) days of such failure and is proceeding diligently to complete such cure as soon as reasonably practicable; # an Event of Bankruptcy; # Tenant’s dissolution or liquidation; # any Environmental Default; or # any sublease, assignment or mortgage not permitted by Article VII.

No Default; Event of Default. No Default or Event of Default shall have occurred and be continuing on the Amendment No. 5 Effective Date or result from this Amendment becoming effective in accordance with its terms.

No Event of Default. After giving effect to this Amendment, no Default or Event of Default exists and is continuing on the Effective Date.

Event of Default; Acceleration. Upon the occurrence of an Event of Default, the Maturity Date shall be deemed also to have occurred and the outstanding principal amount of this Note and all accrued and unpaid interest thereon shall immediately be due and payable to the Investor. The [[Organization A:Organization]] waives presentment, demand, notice of dishonor, protest, and notice of nonpayment and protest of this Note.

Notice of Default or Event of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of principal, interest, fees, and expenses required to be paid to Agent for the account of the Lenders and, except with respect to Events of Default of which Agent has actual knowledge, unless Agent shall have received written notice from a Lender or any Borrower referring to this Agreement, describing such Default or Event of Default, and stating that such notice is a “notice of default.” Agent promptly will notify the Lenders of its receipt of any such

Event of Default; Default Interest; Late Charge. Upon the occurrence of an Event of Default, the Indebtedness shall # become due and payable as provided in Article 8 of the Loan Agreement, and # bear interest at a per annum interest rate (the “Default Rate”) equal to the lesser of # the Maximum Amount (as defined in Section 8), and # the Interest Rate plus five percent (5%). If Borrower fails to pay any sums due under the Loan Documents on the date when the same is due (excluding the amounts due on the Maturity Date), Borrower shall pay (or cause to be paid to Lender upon demand a late charge on such sum (a “Late Charge”) in an amount equal to the lesser of # five percent (5%) of such unpaid amount, and # the maximum late charge permitted to be charged under the laws of the State where the Property is located. Borrower will also pay to Lender, in addition to the amount due and any Late Charges, all out-of-pocket costs of collecting, securing, or attempting to collect or secure this Note or any other Loan Document, including, without limitation, court costs and reasonable attorneys’ fees (including attorneys’ fees on any appeal by either Borrower or Lender and in any bankruptcy proceedings). For the avoidance of doubt, a Late Charge shall not be applied if Borrower fails to pay the outstanding Indebtedness on the Maturity Date.

Remedies upon Event of Default. If any Event of Default occurs and is continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any or all of the following actions:

Remedies Upon Event of 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 (including, without limitation, during any eviction moratorium, to the extent allowed by Applicable Law), each and all of which shall be cumulative and nonexclusive, without any notice or demand whatsoever.

Remedies Upon Event of Default. If any Event of Default occurs, the outstanding principal amount of this Note, plus liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Note to or as directed by the [[Organization A:Organization]]. In connection with such acceleration described herein, the Holder need not provide, and the [[Organization A:Organization]] hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder 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 Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Note until such time, if any, as the Holder receives full payment pursuant to this Section 7(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

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