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. 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. 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:
Acceleration of Maturity Date. An Event of Default shall occur upon the happening of any one or more of the following events, namely:
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.”;
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. In the event Borrowers shall fail to fully pay or cause to be fully paid the Convertible Notes and the Outstanding First Mortgage Notes on or before July 1, 2000, the Maturity Date shall be automatically accelerated to July 1, 2000.
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-C, Inc., a Delaware corporation, on or prior to August 11, 2000, in the amount of $10,300,000.00 ("Pool C Loan") has occurred and is continuing ("Pool C 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
Acceleration of Maturity Date. The parties hereby agree that, in any of the events described below, Banco Santander-Chile may, at its discretion, require the early payment of each and every obligations owed to it by SG
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:
