Acceleration of Obligation. The Loan shall immediately become due and -------------------------- payable in full upon the earliest of the following: (i) an event of default under any Loan Document (as defined in the Loan Agreement (the "Loan Agreement") -------------- between the Lender and the Borrowers dated as of February 19, 1998); (ii) in the event any required payment hereunder is not made when due; (iii) in the event of a voluntary or involuntary termination of employment of Xxxxxx Xxx with AMCC (the "Company") for any reason, with or without cause (including death or ------- disability);
Acceleration of Obligation. The principal sum of this Note, together with all interest accrued thereon, shall immediately become due and payable in full upon any transfer of any of the Shares.
Acceleration of Obligation. 4.1 All unpaid principal, plus any applicable fees or charges due under this Note, or the Project Documents, shall, at the option of the City, be immediately due and payable, time being of the essence, if during the term of this Note there occurs any of the following:
(a) Default or breach by Borrower of any covenant or provision required to be performed by Borrower under the terms of this Note, or the Project Documents, or the occurrence of any event of default under any of such documents; or
(b) The voluntary or involuntary (including-by operation of law), sale, transfer, lease, pledge, encumbrance, creation of a security interest in, or otherwise hypothecation or alienation of all or any part of the security secured by the Deed of Trust (“Security”), without City’s prior written consent. The consent by City to any sale, transfer, lease, pledge, encumbrance, creation of a security interest in, or other hypothecation of, the Security shall not be deemed to constitute a novation or a consent to any further sale, transfer, lease, pledge encumbrance, creation of a security interest in or other hypothecation of, the Security without notice to and consent by City. The City may, at its option, declare the indebtedness secured hereby immediately due and payable without notice to Borrower or any other person or entity (except as provided herein), upon all such sale, transfer, lease, pledge, encumbrance, creation of a security interest in, or other hypothecation or alienation in violation hereof. Without the written consent of City, no sale, transfer, lease, pledge encumbrance, creation of security interest in, or other hypothecation of, the Security shall relieve or release Borrower from primary liability under the Deed of Trust or this Note, as the case may be; provided, however, that this Section 4.1(b) shall not apply to a sale of a Residential Unit to any qualified tenant or purchaser pursuant to the Restriction in the ordinary course of business of Developer and as provided under the DDA. As used in this Section 4.1(b) the term “transfer” includes, without limitation, the following transactions: Xxxxxxxx Xxxxxxx DDA ATTACHMENT NO. 7
Acceleration of Obligation. The Loan shall immediately become due and --------------------------- payable in full upon the earliest of the following: (i) an event of default under the Loan Agreement (the "Loan Agreement") between the Company and the Borrower dated as of May 1, 1996 relating to the indebtedness represented hereby, this promissory note, or the Pledge Agreement (the "Pledge Agreement") between the Company and the Borrower dated as of May 1, 1996; (ii) in the event any required payment hereunder or under any other promissory note delivered by the Borrowers to the Company is not made when due; (iii) in the event of a voluntary or involuntary termination of Xxxxx Xxxxxx'x employment with the Company for any reason, with or without cause (including death or disability); or (iv) May 1, 1999. In addition, if Borrower sells any portion of the Shares (as defined below), an equal portion of the original principal amount of the Loan shall immediately become due and payable, together with all interest accrued on such principal portion.
Acceleration of Obligation. North San Xxxxx Note T-26686 \ 1015240 9/12/2013
4.1 City may, at its election, without notice to or demand upon Borrower (which are hereby expressly waived), except for notices or demands required by law or expressly required pursuant to the Loan Documents, accelerate and declare all unpaid principal and accrued interest on this Note, plus any applicable fees or charges due under any Loan Document immediately due and payable, time being of the essence if during the term of this Note there occurs any Event of Default, which is not cured within any applicable cure or grace period as set forth in the Loan Agreement. For purposes of this Note, an "Event of Default” shall be as defined in the Loan Agreement.
Acceleration of Obligation. The Loan shall immediately become due and payable in full upon the earliest of the following: (i) an Event of Default under the Home Loan Agreement between the Company and the Borrower dated as of ___________, 1996, as amended (the "Loan Agreement"); (ii) in the event any required payment hereunder is not made when due [and the continuation of such default for more than thirty (30) days]; (iii) one year after the voluntary or involuntary termination of the Borrower's employment with the Company for any reason, with or without cause (including death or disability); (iv) assignment by the Borrower for the benefit of creditors, or admission in writing of the Borrower's inability to pay his debts as they become due, or filing a voluntary petition in bankruptcy or adjudication as a bankrupt or insolvent, or filing any petition or answer seeking any reorganization, arrangement, composition, readjustment, dissolution or similar relief under any present or future statute, law or regulation, or filing any answer admitting or failing to deny the material allegations of a petition filed against him for any such relief; (v) the failure of the Borrower to execute a second deed of trust on the Property as defined in the Loan Agreement (the "Property") within thirty (30) days of a request from the Company; (vi) the date of any sale, conveyance, assignment, alienation or any other form of transfer of the Property, or any part thereof or interest therein, or any divestiture of the Borrower's title or interest therein in any manner or way, whether voluntary or involuntary, without the prior written consent of the Company being first obtained or except as otherwise permitted under the Loan Agreement; or (vii) the occurrence of any event of default under the Second Deed of Trust securing this Note or any obligation secured thereby.
Acceleration of Obligation. Purchaser will be deemed to be ------------------------------------ in default under this Note and the principal sum of this Note, together with all interest accrued thereon, will immediately become due and payable in full: (a) upon Purchaser's failure to make any payment when due under this Note; (b) in the event Purchaser ceases to be employed by the Company (as defined in the Purchase Agreement) for any reason; (c) upon any transfer of any of the Shares; (d) upon the filing by or against Purchaser of any voluntary or involuntary petition in bankruptcy or any petition for relief under the federal bankruptcy code or any other state or federal law for the relief of debtors; or (e) upon the execution by Purchaser of an assignment for the benefit of creditors or the appointment of a receiver, custodian, trustee or similar party to take possession of Purchaser's assets or property.
Acceleration of Obligation. Upon the occurrence of any of the events identified in Sections 4.1 (a) through 4.1 (e) and 4.1(g), and the passage of any applicable cure period, the Lender may at any time thereafter, by written notice to the Borrower, declare the unpaid principal balance of the Note, together with the interest accrued thereon and other amounts accrued hereunder, to be immediately due and payable; and the unpaid balance shall thereupon be due and payable, all without presentation, demand, protest or further notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein or in any part of the Loan Documents Upon the occurrence of any event under Section 4.1(f), then the unpaid principal balance under the Note, together with all interest accrued thereon and other amounts accrued hereunder, shall thereupon be immediately due and payable, all without presentation, demand, protest or notice of any kind, all of which are hereby waived, not withstanding anything to the contrary contained herein or in any of the other Loan Documents.
Acceleration of Obligation. 4.1 After the expiration of any applicable notice and cure periods, the unpaid principal, plus any applicable charges set forth herein, shall, at the option of the Agency, be immediately due and payable if during the term of this Note there occurs any of the following:
(a) Default or breach by Borrower of any material covenant or provision required to be performed by Borrower under the terms of this Amended Note or the Agreement, including any default of Borrower’s obligation to make Monthly Payments;
(b) Default or breach by Borrower of any covenant or provision required to be performed by Borrower under the terms of the Loan Documents as defined in the Agreement, including any default of Borrower’s obligation to provide Cinequest hosting support as described in the Loan Agreement; provided that Borrower has received written notice of any such default and any applicable cure period has lapsed.
4.2 From and after the time when Agency has the right to accelerate the repayment of this Note as set forth in subsection 4.1, the entire unpaid balance of the principal sum of this Note shall automatically bear a maximum rate of interest equal to the lesser of (i) ten percent (10%) per annum or (ii) the maximum rate permitted by Section l (2) of Article XV of the California Constitution (“Default Rate”);
4.3 At the election of the Borrower, the principal amount of this Note, or any portion thereof, may be prepaid at any time during the term of this Note without penalty.
