Automatic Events of Default. The occurrence of any of the following events shall constitute an Event of Default under this Agreement and the other Loan Documents automatically and with no notice from Lender required:
Automatic Events of Default. The following shall constitute automatic Events of Default:
Automatic Events of Default. Upon the occurrence of any of the following Events of Default: The Company shall be dissolved or liquidated (or any judgment, order or decree therefor shall be entered), or shall generally not pay its debts as they become due, or shall admit in writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors, or shall institute, or there shall be instituted against the Company, any proceeding or case seeking to adjudicate it a bankrupt or insolvent or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief or protection of debtors or seeking the entry of an order for relief, or the appointment of a receiver, trustee, custodian or other similar official for it or for any substantial part of its assets, rights, revenues or property, and, if such proceeding is instituted against the Company and is being contested by the Company, in good faith by appropriate proceedings, such proceeding shall remain undismissed or unstayed for a period of 30 days; or the Company shall take any action (corporate or other) to authorize or further any of the actions described above in this subsection; then the Commitment shall automatically terminate and the Note shall automatically become immediately due and payable, without notice, demand, protest, or presentment, all of which are hereby expressly waived by the Company.
Automatic Events of Default. Any of the following shall constitute an automatic Event of Default:
(1) any failure by Borrower to pay or deposit when due any amount required by the Note, this Master Agreement or any other Loan Document;
(2) any failure by Borrower to maintain the insurance coverage required by any Loan Document;
(3) any failure by Borrower to comply with the provisions of Section 4.02(d) (Borrower Status – Covenants – Single Purpose Status) relating to its single asset status;
(4) if any warranty, representation, certification, or statement of Borrower or Guarantor in this Master Agreement or any of the other Loan Documents is false, inaccurate, or misleading in any material respect when made;
(5) fraud, gross negligence, willful misconduct or material misrepresentation or material omission by or on behalf of Borrower, Guarantor or Key Principal or any of their officers, directors, trustees, partners, members, or managers in connection with:
(A) the application for, or creation of, the Indebtedness;
(B) any financial statement, rent roll, or other report or information provided to Lender during the Term of this Master Agreement; or
(C) any request for Lender’s consent to any proposed action, including a request for disbursement of Reserve/Escrow Account Funds or Collateral Account Funds;
(6) the occurrence of any Transfer not permitted by the Loan Documents;
(7) the occurrence of a Bankruptcy Event of Borrower, SPE Owner or Guarantor;
(8) the commencement of a forfeiture action or proceeding, whether civil or criminal, which, in Lender’s reasonable judgment, could result in a forfeiture of any Mortgaged Property or otherwise materially impair the lien created by this Master Agreement or the Security Instrument or Lender’s interest in any Mortgaged Property;
(9) if Borrower, Guarantor or Key Principal is a trust (other than a REIT), or if a Transfer of the Restricted Ownership Interest or a Change of Control occurs due to the termination or revocation of a trust, the termination or revocation of such trust, except as set forth in Section 11.03(d) (Termination or Revocation of Trust);
(10) any failure by Borrower to complete any Repair related to fire, life or safety issues in accordance with the terms of this Master Agreement within the Completion Period (or such other date set forth on the Required Repair Schedule or otherwise required by Lender in writing for such Repair);
(11) any exercise by the holder of any other debt instrument secured by a mortgage, deed of trus...
Automatic Events of Default. The following shall constitute automatic Events of Default:
(1) any failure by Borrower to pay or deposit when due any amount required by the Note, this Loan Agreement or any other Loan Document;
(2) any failure by Borrower to maintain the insurance coverage required by any Loan Document;
(3) any failure by Borrower to comply with the provisions of Section 4.02(d) relating to its single asset status;
(4) any warranty, representation, certificate or statement of Borrower, Guarantor or Key Principal in this Loan Agreement or any of the other Loan Documents shall be false, inaccurate or misleading in any material respect when made;
Automatic Events of Default. Upon the occurrence of any of the following Events of Default: The Company shall be dissolved or liquidated (or any judgment, order or decree therefor shall be entered), or shall generally not pay its debts as they become due, or shall admit in
Automatic Events of Default. The oc- xxxxxxxx of one or more of the events in this paragraph (b) causes the rem- edies in paragraph (c) of this section to take effect immediately.
Automatic Events of Default. 63 (b) Events of Default Subject to a Specified Cure Period. 64 (c) Events of Default Subject to Extended Cure Period. 65 Section 14.02 Remedies. 65 (a) Acceleration; Foreclosure. 65
Automatic Events of Default. The occurrence of any of the following events shall constitute an Event of Default under this Agreement and the other Loan Documents automatically and with no notice from Lender required:
(i) INVOLUNTARY BANKRUPTCY;
Automatic Events of Default. In addition to and not in lieu of other events of default specified previously within this Agreement, the following shall also constitute automatic "Events of Default" entitling the Lender to exercise any or all of its rights under this Agreement or any instrument executed in conformity herewith (all of which together with any "Event of Default" under the Promissory Note, Mortgage, or Assignment are referred to in this Agreement as "Events of Default"):
A. Any material event or condition of default (however defined) by Borrower shall occur and the applicable cure period, if any, shall have expired, in any promissory note or any agreement between Borrower and Lender, including but not limited to that certain Revolving Line of Credit Promissory Note dated December 4, 2002 and that certain Loan Agreement dated December 4, 2002 between Borrower and Lender; or
B. Borrower's failure to comply with any of the provisions of the Promissory Note including without limitation the failure to make any payment on the Promissory Note whether principal, interest, premium or late charge, when and as the same becomes due (whether at the stated maturity or at a date fixed for any installment payment or any accelerated payment date or otherwise) within five (5) days of the date on which such performance is due; or
C. Borrower's failure to pay, perform or comply with when due any other indebtedness secured by the Mortgage; or
D. Borrower's failure to comply with or perform any of the other terms, conditions or covenants of this Mortgage and such failure shall continue for a period of fifteen (15) days after notice thereof to Borrower or such longer time as may be reasonably necessary for Borrower to cure, while acting with due diligence, provided in any event that such time shall be no more than sixty (60) days; or
E. Borrower shall fail to pay Borrower's debts as they become due, make an assignment for the benefit of Borrower's creditors, or shall admit in writing Borrower's inability to pay its debts as they become due or shall file a petition under any chapter of the United States Bankruptcy Code or any similar law, state or federal, now or hereafter existing, or shall become "insolvent" as that term is generally defined under the United States Bankruptcy Code, or shall in any involuntary bankruptcy case commenced against it file an answer admitting insolvency or inability to pay its debts as they become due, or shall fail to obtain a dismissal of such case within sixty (60)...
