Acceleration of Maturity Date Sample Clauses

Acceleration of Maturity Date. If, at any time while this Note is outstanding: (A) the Company effects any merger or consolidation of the Company with or into another Person, (B) the Company effects any sale of all or substantially all of its assets in one or a series of related transactions, (C) any tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to tender or exchange their shares for other securities, cash or property, or (D) the Company effects any reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property (in any such case, a “Fundamental Transaction”), then, immediately prior to the occurrence of such Fundamental Transaction the Principal Sum and all accrued but unpaid interest payable hereunder shall automatically become, at the Holder’s election, immediately due and payable in cash.

Acceleration of Maturity Date. If an Event of Default with respect to Securities at the time Outstanding shall occur and be continuing, then and in every such case a Trustee or the Holders of not less than 25% in aggregate principal amount of the Securities then Outstanding may, and a Trustee at the request of such Holders shall, declare all unpaid principal of, premium, if any, any Additional Amounts and accrued and unpaid interest, if any, on all the Securities to be due and payable immediately, by a notice in writing to the Corporation (and to a Trustee if given by the Holders of the Securities), and upon any such declaration such principal, premium, if any, any Additional Amounts and interest shall become due and payable immediately. The Corporation covenants that if: (1) default is made in the payment of any installment of interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or (2) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity Date thereof, the Corporation shall, upon demand of a Trustee, forthwith pay to either Trustee (to an account specified by a Trustee), for the benefit of the Holders of the Securities, the whole amount then due and payable on such Securities, for the principal of (and premium, if any) and interest accrued to the date of such payment on all such Securities and all other money owing under the provisions of this Indenture in respect of such Securities, together with interest from the date of such demand to the date of such payment upon overdue principal and premium and, to the extent that payment of such interest shall be enforceable under applicable law, on overdue installments of interest and on such other money at the same rate as the rate of interest specified in the Securities; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of each Trustee, its agents and Counsel, except as a result of negligence or bad faith. Until such demand shall be made by a Trustee, the Corporation shall pay the principal of (and premium, if any) and interest on the Securities to the Holders in accordance with the terms hereof and thereof, whether or not payment of any amount in respect of such Securities shall be overdue. If the Corporation fails to pay such amounts forthwith upon such demand, a Trustee, in its own na...

Acceleration of Maturity Date. In the event that MID gives written notice (a “Reorganization Proposal Termination Notice”) to the Lender advising that the Reorganization Proposal will not proceed to a vote of MID shareholders at a special meeting (as a result of the Supporting Shareholders abandoning the Reorganization Proposal, the MID Board of Directors failing to call such a meeting, or for any other reason), that the Reorganization Proposal has not received the requisite approvals at a special meeting called to consider the Reorganization Proposal, or that a court of competent jurisdiction has not approved a plan of arrangement implementing the Reorganization Proposal, then Lender shall give written notice to the Borrower that the Lender has received a Reorganization Proposal Termination Notice, and the Maturity Date shall be the earlier of: (i) August 31, 2008; and (ii) the date which is one month after the Lender gives the Borrower written notice that it has received the Reorganization Proposal Termination Notice.”; (t) by deleting Subsection 4.3(b) of the Bridge Loan Agreement in its entirety and replacing it with the following:

Acceleration of Maturity Date. The entire principal balance of this Note, together with any unpaid interest thereon and any other sums due and payable hereunder shall become automatically and immediately due and payable, notwithstanding anything to the contrary in this Note, without notice or demand upon the occurrence of any of the following events: (i) the liquidation, termination or dissolution of the Company or its ceasing to carry on actively its present business or the appointment of a receiver for its property; (ii) the dissolution, liquidation or termination of existence of, the insolvency of, or the making of an assignment for the benefit of creditors by, the Company; or (iii) the institution of bankruptcy, reorganization, arrangement, liquidation, receivership, moratorium or similar proceedings by or against the Company, and, if so instituted against the Company, the pendency thereof for 60 days.

Acceleration of Maturity Date. An Event of Default shall occur upon the happening of any one or more of the following events, namely: (a) if the Corporation defaults in payment of the Principal Sum when the same becomes due and payable under this Trust Indenture; (b) if the Corporation makes default in payment of any Interest due on this Trust Indenture when the same becomes due and any such default continues thereafter for a period of 5 Business Days; (c) if the Corporation shall (i) institute or commence proceedings to be adjudicated a bankrupt or insolvent or consent to the filing of a bankruptcy or insolvency proceeding against it, (ii) file, institute or commence or otherwise take any proceeding relating to reorganization, adjustment, arrangement, composition, compromise, stay of proceedings or relief similar to any of the foregoing under any Applicable Law regarding bankruptcy, insolvency, reorganization or relief of debtors (including under the Companies’ Creditors Arrangement Act or the Bankruptcy and Insolvency Act), (iii) consent to the filing of any such proceeding, (iv) consent to the appointment of a receiver, liquidator, trustee or assignee in bankruptcy or similar official or to the liquidation, dissolution or winding-up of the Corporation or of all or a substantial part of its property and assets (v) make an assignment for the benefit of creditors, (vi) admit in writing its inability to pay its debts generally as they become due, (vii) generally not be paying its debts as they come due or otherwise be insolvent, or (viii) take any corporate or other action authorizing or in furtherance of any of the foregoing; (d) if any proceeding is filed, instituted or commenced by any Person seeking (i) to adjudicate the Corporation a bankrupt or insolvent or the liquidation, reorganization, winding-up, adjustment, arrangement, compromise, composition, stay of proceedings or similar relief of or for the Corporation under any Applicable Law regarding bankruptcy, insolvency, reorganization or relief of debtors (including under the Companies’ Creditors Arrangement Act or the Bankruptcy and Insolvency Act), or (ii) to appoint a receiver, liquidator, trustee or assignee in bankruptcy or similar official of the Corporation or of all or a substantial part of its property and assets, if such proceeding shall continue undismissed or unstayed for a period of 30 days; (e) if there shall be a breach by the Corporation or Surge U.S. of any other covenant or condition contained in this Trust Inden...

Acceleration of Maturity Date. Mezzanine Lender shall accelerate the maturity date of the Loan upon the eighteen (18) month anniversary of the Closing Date ("Acceleration Date") unless (i) no Default (as defined below) under any of the Loan Documents has occurred and is continuing; (ii) no Default under any of the loan documents evidencing that certain loan made by Mezzanine Lender to Capital Senior Living P-B, Inc., a Delaware corporation, on or prior to August 11, 2000, in the amount of $9,700,000.00 ("Pool B Loan") has occurred and is continuing ("Pool B Loan Documents"); (iii) Mezzanine Lender determines, based on its review of updated appraisals for the Facilities, that the loan to value ratio for the Facilities (after taking into account the unpaid principal balance of the Loan and the portion of the unpaid principal balance of the First Mortgage Loan, attributable to the Facilities) is not more than ninety-five percent (95%) ("Loan to Value Test"); and (iv) the Facilities have achieved, on a combined basis, a Debt Service Coverage Ratio of at least 1.0 to 1.0 based on a per annum interest rate calculated at the Strike Rate ("Interest Rate Stress Test"). For purposes of this Agreement, "Default" means the occurrence or existence of any event which, but for the giving of notice or expiration of time or both, would constitute an "Event of Default" under the Loan Documents or the Pool B Loan Documents (as the case may be). In the event the Loan to Value Ratio Test or the Interest Rate Stress Test has not been achieved at the time of the Acceleration Date, the Mezzanine Lender will permit the Borrower, Owner and/or Guarantor to pay to Mezzanine Lender on or prior to the Acceleration Date, an amount which if the same had been applied to reduce the outstanding principal amount of the Loan, would have resulted in the achievement of the Loan to Value Ratio Test and the Interest Rate Stress Test.

Acceleration of Maturity Date. Notwithstanding anything else contained herein to the contrary, in the event Viking completes the Subsequent Financing prior to May 31, 2006, the Maturity Date shall be the date of the initial closing of the Subsequent Financing.

Acceleration of Maturity Date. If the Maturity Date is accelerated prior the Lock Out Date, in addition to all other sums due and payable hereunder, Borrowers shall be obligated to pay to Administrative Agent the Make Whole Amount.

Acceleration of Maturity Date. The Maturity Date shall be accelerated to the date the Borrower receives proceeds from the sale by the Company to the United States government of a Command Post Vehicle under purchase order number DGSP1003177 to be delivered to the Maryland Department of State Police. This Note must be repaid out of the proceeds of such financing transaction. THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THIS NOTE MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THIS NOTE UNDER SAID ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE KINGSLEY XXXXX, XNC. THAT SUCH REGISTRATION IS NOT REQUIRED. NOTE FOR VALUE RECEIVED, THE KINGSLEY XXXXX, XNC., a Delaware corporation (hereinafter called "Borrower"), hereby promises to pay to LONGVIEW EQUITY FUND, LP, 600 Montgxxxxx Xxxxxx, 00xx Floor, San Francisco, CA 94111, Fax: 415-981-5000, (xxx "Holder") or order, without demand, the sum of Three Hundred and Seventy-Five Thousand Dollars ($375,000.00), with simple interest accruing at the annual rate of twelve percent (12%), on October 21, 2005 (the "Maturity Date"). This Note has been entered into pursuant to the terms of a subscription agreement between the Borrower and the Holder, dated of even date herewith (the "Subscription Agreement"), and shall be governed by the terms of such Subscription Agreement. Unless otherwise separately defined herein, all capitalized terms used in this Note shall have the same meaning as is set forth in the Subscription Agreement. The following terms shall apply to this Note:

Acceleration of Maturity Date. Under any of the following circumstances, the Loan and the interest accrued thereon shall be deemed matured in full amount, effective immediately without requiring a further notice, and the Company shall repay the Loan upon its maturity without any delay: (a) The Company fails to pay as and when due and payable (whether at maturity, by acceleration or otherwise) all or any part of the principal of or interest on any indebtedness of or assumed by it, or of the rentals due under any lease or sublease, or of any other obligation for the payment of money, and such default shall not be cured within the period or periods of grace, if any, specified in the instruments governing such obligations; or default shall occur under any evidence of, or any indenture, lease, sublease, agreement or other instrument governing such obligations, and such default shall continue for a period of time sufficient to permit the acceleration of the maturity of any such indebtedness or other obligation or the termination of such lease or sublease;