Common use of Customer Default Defined Clause in Contracts

Customer Default Defined. The following events shall be defaults with respect to Customer (each, a “Customer Default”): (i) Customer fails to pay Provider any undisputed amount due Provider under this Agreement within twenty (20) Business Days from receipt of notice from Provider of such past due amount; (ii) Customer breaches any material term of this Agreement if (A) such breach can be cured within thirty (30) days after Provider’s notice of such breach and Customer fails to so cure, or (B) Customer fails to commence and diligently pursue and complete said cure within a reasonable period of time if a cure period longer than 30 days is needed; or (A) Customer admits in writing its inability to pay its debts generally as they become due; (B) Customer files a petition or answer seeking reorganization or arrangement under the federal bankruptcy laws or any other applicable law or statute of the United States of America or any state, district or territory thereof; (C) Customer makes an assignment for the benefit of creditors; (D) Customer consents to the appointment of a receiver of the whole or any substantial part of its assets; (E) Customer has a petition in bankruptcy filed against it, and such petition is not dismissed within ninety (90) days after the filing thereof; (F) a court of competent jurisdiction enters an order, judgment, or decree appointing a receiver of the whole or any substantial part of Customer’s assets, and such order, judgment or decree is not vacated or set aside or stayed within ninety (90) days from the date of entry thereof; or (G) under the provisions of any other law for the relief or aid of debtors, any court of competent jurisdiction shall assume custody or control of the whole or any substantial part of Customer’s assets and such custody or control is not terminated or stayed within ninety (90) days from the date of assumption of such custody or control.

Customer Default Defined. The following events shall be defaults with respect to Customer (each, a “Customer Default”): (i) i. Customer fails to pay Provider any undisputed amount due Provider under this Agreement within twenty fifteen (2015) Business Days from receipt of notice from Provider of such past due amount; (ii) . Customer breaches any material term of this Agreement if (A) such breach can be cured within thirty (30) days after Provider’s notice of such breach and Customer fails to so cure, or (B) Customer fails to commence and diligently pursue and complete said cure within a reasonable period of time if a cure period longer than 30 days is needed; or (A) Customer admits in writing its inability to pay its debts generally as they become due; (B) Customer files a petition or answer seeking reorganization or arrangement under the federal bankruptcy laws or any other applicable law or statute of the United States of America or any state, district or territory thereof; (C) Customer makes an assignment for the benefit of creditors; (D) Customer consents to the appointment of a receiver of the whole or any substantial part of its assets; (E) Customer has a petition in bankruptcy filed against it, and such petition is not dismissed within ninety (90) days after the filing thereof; (F) a court of competent jurisdiction enters an order, judgment, or decree appointing a receiver of the whole or any substantial part of Customer’s assets, and such order, judgment or decree is not vacated or set aside or stayed within ninety (90) days from the date of entry thereof; or (G) under the provisions of any other law for the relief or aid of debtors, any court of competent jurisdiction shall assume custody or control of the whole or any substantial part of Customer’s assets and such custody or control is not terminated or stayed within ninety (90) days from the date of assumption of such custody or control.

Customer Default Defined. The following events shall be defaults with respect to Customer (each, a “Customer Default”): (i) Customer fails to pay Provider any undisputed amount due Provider under this Agreement within twenty ten (2010) Business Days from receipt of notice from Provider of such past due amount; (ii) Customer breaches any material term of this Agreement if (A) such breach can be cured within thirty (30) days after Customer’s receipt of Provider’s notice of such breach and Customer fails to so cure, or (B) Customer otherwise fails to commence and diligently pursue and complete said cure within a reasonable period ninety (90) days of time if a cure period longer than 30 days is neededreceipt of Customer’s notice; or (iii) (A) Customer admits in writing its inability to pay its debts generally as they become due; (B) Customer files a petition or answer seeking reorganization or arrangement under the federal bankruptcy laws or any other applicable law or statute of the United States of America or any state, district or territory thereof; (C) Customer makes an assignment for the benefit of creditors; (D) Customer consents to the appointment of a receiver of the whole or any substantial part of its assets; (E) Customer has a petition in bankruptcy filed against it, and such petition is not dismissed within ninety (90) days after the filing thereof; (F) a court of competent jurisdiction enters an order, judgment, or decree appointing a receiver of the whole or any substantial part of Customer’s assets, and such order, judgment or decree is not vacated or set aside or stayed within ninety (90) days from the date of entry thereof; or (G) under the provisions of any other law for the relief or aid of debtors, any court of competent jurisdiction shall assume custody or control of the whole or any substantial part of Customer’s assets and such custody or control is not terminated or stayed within ninety (90) days from the date of assumption of such custody or control.