Common use of Automatic Event of Default Clause in Contracts

Automatic Event of Default. If any of the events described in the items below in this Section 17.1 has occurred with respect to the Borrower, all of the Borrower’s debts under this Agreement payable to the Lender shall automatically become due and payable without any notice or demand by the Lender, and the Borrower shall immediately pay the principal of the Loan and the interest and Break Funding Costs and any other payment obligation that the Borrower owes pursuant to this Agreement in accordance with the provisions of Section 14: (a) If any payment by the Borrower has been suspended, or if a petition (including similar petition filed outside Japan) of specific conciliation (tokutei-chotei), bankruptcy (hasan), commencement of civil rehabilitation procedures (minjisaiseitetuzuki-kaishi), commencement of corporate reorganization procedures (kaishakoseitetuzuki-kaishi), commencement of corporate rearrangement (kaishaseiri-kaishi), commencement of special liquidation (tokubetuseisan-kaishi), or commencement of any other similar legal procedures against the Borrower; (b) If the resolution for dissolution is adopted or the Borrower receives order of dissolution; (c) If the Borrower abolishes its business; (d) If transactions of the Borrower have been suspended by a clearinghouse; or (e) If any order or notice of provisional attachment (xxxx-sashiosae), preservative attachment (hozen-sashiosae), or attachment (sashiosae) (including any such procedure taken outside Japan) has been sent out, or any adjudication that orders an enforcement of preservative attachment (hozen-sashiosae) or attachment (sashiosae) has been rendered, with respect to the deposit receivables or other receivables held by the Borrower against the Lender. In this case, the Lender shall immediately notify the Borrower of the occurrence of any such matters

Automatic Event of Default. If any of the events described in the items below in this Section 17.1 has occurred with respect to the Borrower, all of the Borrower’s debts under this Agreement payable to the Lender shall automatically become due and payable without any notice or demand by the Lender, and the Borrower shall immediately pay the principal of the Loan and the interest and Break Funding Costs and any other payment obligation that the Borrower owes pursuant to this Agreement in accordance with the provisions of Section 14: (a) If any payment by the Borrower has been suspended, or if a petition (including similar petition filed outside Japan) of specific conciliation (tokutei-chotei), bankruptcy (hasanhasantetuzuki-kaishi), commencement of civil rehabilitation procedures (minjisaiseitetuzuki-kaishi), commencement of corporate reorganization procedures (kaishakoseitetuzuki-kaishi), commencement of corporate rearrangement (kaishaseiri-kaishi), commencement of special liquidation (tokubetuseisan-kaishi), or commencement of any other similar legal procedures against the Borrower; (b) If the resolution for dissolution is adopted or the Borrower receives order of dissolution; (c) If the Borrower abolishes its business; (d) If transactions of the Borrower have been suspended by a clearinghouse; or (e) If any order or notice of provisional attachment (xxxx-sashiosae), preservative attachment (hozen-sashiosae), or attachment (sashiosae) (including any such procedure taken outside Japan) has been sent out, or any adjudication that orders an enforcement of preservative attachment (hozen-sashiosae) or attachment (sashiosae) has been rendered, with respect to the deposit receivables or other receivables held by the Borrower against the Lender. In this case, the Lender shall immediately notify the Borrower of the occurrence of any such matters

Automatic Event of Default. If any of the events described in the items below in this Section 17.1 has occurred with respect to the Borrower, all of the Borrower’s debts under this Agreement payable to the Lender shall automatically become due and payable without any notice or demand by the Lender, and the Borrower shall immediately pay the principal of the Loan and the interest and Break Funding Costs and any other payment obligation that the Borrower owes pursuant to this Agreement in accordance with the provisions of Section 14: (a) If any payment by the Borrower has been suspended, or if a petition (including similar petition filed outside Japan) of specific conciliation (tokutei-chotei), bankruptcy (hasan), commencement of civil rehabilitation procedures (minjisaiseitetuzuki-kaishi), commencement of corporate reorganization procedures (kaishakoseitetuzuki-kaishi), commencement of corporate rearrangement (kaishaseiri-kaishi), commencement of special liquidation (tokubetuseisan-kaishi), or commencement of any other similar legal procedures against the Borrower; (b) If the resolution for dissolution is adopted or the Borrower receives order of dissolution; (c) If the Borrower abolishes its business; (d) If transactions of the Borrower have been suspended by a clearinghouse; or (e) If any order or notice of provisional attachment (xxxx-sashiosae), preservative attachment (hozen-sashiosae), or attachment (sashiosae) (including any such procedure taken outside Japan) has been sent out, or any adjudication that orders an enforcement of preservative attachment (hozen-sashiosae) or attachment (sashiosae) has been rendered, with respect to the deposit receivables or other receivables held by the Borrower against the Lender. In this case, the Lender shall immediately notify the Borrower of the occurrence of any such matters.