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. 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 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. 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 of any other covenant or condition contained in this Trust Indenture and the b...
Acceleration of Maturity Date. The Maturity Date of the Note shall be automatically accelerated to immediately prior to the occurrence of a Fundamental Transaction.
Acceleration of Maturity Date. The Maturity Date will be accelerated to June 30, 2018 if the Maker has not delivered a certified public financial audit of the Maker’s 2017 financial statements to the Holder by June 30, 2018.
Acceleration of Maturity Date. Section 2.3.l(f) of the Loan Agreement is hereby deleted in its entirety and the following is inserted in lieu thereof:
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. In connection with any Defeasance Event, Borrower shall have the right to cause the Maturity Date to be accelerated to any Payment Date occurring in January, February or March, 2016, as set forth in Borrower’s notice of the Defeasance Event pursuant to Section 2.4.1(a) above, which acceleration shall become effective simultaneously with Borrower’s delivery of the Defeasance Collateral pursuant to Section 2.4.1 hereof (and shall not otherwise be effective or binding on Lender or Borrower). Following delivery of the Defeasance Collateral, Borrower shall not have any further right to change the Maturity Date.
