DEFAULT; ACCELERATION OF OBLIGATION Sample Clauses

DEFAULT; ACCELERATION OF OBLIGATION. Borrower will be deemed to be in default under this Note and the outstanding unpaid principal balance of this Note, together with all interest accrued thereon, will immediately become due and payable in full, without the need for any further action on the part of Holder, upon the occurrence of any Event of Default (as defined in the Credit Agreement or the Security Agreement) not otherwise remedied pursuant to the terms of the Credit Agreement or the Security Agreement.
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DEFAULT; ACCELERATION OF OBLIGATION. Borrower will be deemed to be in default under this Note and the outstanding unpaid principal balance of this Note, together with all interest accrued thereon, will immediately become due and payable in full, without the need for any further action on the part of Holder, upon the occurrence of any of the following events (each an "EVENT OF DEFAULT"): (a) upon Borrower's failure to make any payment when due under this Note; (b) upon the filing by or against Borrower 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; provided, however, with respect to an involuntary petition in bankruptcy, such petition has not been dismissed within thirty (30) days after the filing of such petition; (c) upon the execution by Borrower of an assignment for the benefit of creditors or the appointment of a receiver, custodian, trustee or similar party to take possession of Borrower's assets or property; or (d) material breach of the terms and conditions of the Note Agreement. 193
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DEFAULT; ACCELERATION OF OBLIGATION. Borrower 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 Borrower's failure to make the payment when due under this Note; or (b) in the event Borrower ceases to be employed by the Company for any reason, with or without cause.
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DEFAULT; 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) 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 under the federal bankruptcy code or any other state or federal law for the relief of debtors; or (c) 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. In addition Purchaser will be deemed to be in default under this Note and the principal and interest will become due and payable in full (1) thirty (30) days following any transfer of the Shares (except (A) a transfer to the Company, or (B) a transfer to Immediate Family as set forth in Section 3(c)(vi) of the Purchase Agreement), (ii) ninety (90) days following the date Purchaser voluntarily terminates his employment or consulting relationship with the Company or (iii) six (6) months following the date Purchaser's employment or consulting relationship with the Company is terminated (other than voluntarily) for any reason (including death or disability), with or without cause. Purchaser also agrees that in connection with any termination of Purchaser's employment or consulting relationship, for any reason, whether voluntary or involuntary, if the Company exercises its Repurchase Option to repurchase all or some of the Shares under the Purchase Agreement, then the Company may cancel the appropriate amount of indebtedness due under this Note as payment for such repurchased Shares.
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DEFAULT; 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.
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DEFAULT; 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 of principal and/or interest 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 and the Company exercises its Repurchase Option to repurchase all or some of the Shares under the Purchase Agreement; (c) 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 (d) 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.
Sample 1
DEFAULT; ACCELERATION OF OBLIGATION. The Company will be deemed to ------------------------------------ be in default under this Note and the outstanding unpaid principal balance of this Note, together with all interest accrued thereon, will immediately become due and payable in full, without the need for any further action on the part of Holder, upon the occurrence of any of the following events (each an "EVENT OF DEFAULT"): (a) upon the Company's failure to make any payment when due under this Note within two (2) days after written notice of such default, but in no event, later than five (5) days after such payment is due; (b) upon the filing by or against the Company 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; provided, however, with -------- ------- respect to an involuntary petition in bankruptcy, such petition has not been dismissed within ninety (90) days after the filing of such petition; (c) upon the execution by the Company of an assignment for the benefit of creditors or the appointment of a receiver, custodian, trustee or similar party to take possession of the Company's assets or property or (d) upon Company's default under the Security Agreement or any other agreement between Holder and Company or any other obligation of Company to Holder.
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Related to DEFAULT; ACCELERATION OF OBLIGATION

  • Acceleration of Obligations Declare all Obligations, whether evidenced by this Agreement, by any of the other Loan Documents, or otherwise, including (i) any accrued and unpaid interest, (ii) the amounts which would have otherwise come due under Section 2.3(b)(ii) if the Loans had been voluntarily prepaid, (iii) the unpaid principal balance of the Loans and (iv) all other sums, if any, that shall have become due and payable hereunder, immediately due and payable (provided that upon the occurrence of an Event of Default described in Section 8.12 or 8.13 all Obligations shall become immediately due and payable without any action by Lender);

  • Default; Acceleration (a) Any of the following shall constitute an “Event of Default” under this Note:

  • Events of Default Acceleration Etc 105 §12.1 Events of Default and Acceleration 105 §12.2 Limitation of Cure Periods 107 §12.3 Termination of Commitments 108 §12.4 Remedies 108 §12.5 Distribution of Collateral Proceeds 108 §13. SETOFF 000 §00. THE AGENT 110 §14.1 Authorization 110 §14.2 Employees and Agents 110 §14.3 No Liability 111 §14.4 No Representations 111 §14.5 Payments 112 §14.6 Holders of Notes 113 §14.7 Indemnity 113 §14.8 Agent as Lender 114 §14.9 Resignation 114 §14.10 Duties in the Case of Enforcement 115 §14.11 Request for Agent Action 115 §14.12 Removal of Agent 115 §14.13 Bankruptcy 000 §00. EXPENSES 116 §16. INDEMNIFICATION 117 §17. SURVIVAL OF COVENANTS, ETC 118 §18. ASSIGNMENT AND PARTICIPATION 118 §18.1 Conditions to Assignment by Lenders 118 §18.2 Register 120 §18.3 New Notes 120 §18.4 Participations 121 §18.5 Pledge by Lender 121 §18.6 No Assignment by Borrower 121 §18.7 Cooperation; Disclosure 121 §18.8 Mandatory Assignment 122 §18.9 Co-Agents 123 §18.10 Treatment of Certain Information; Confidentiality 123 §18.11 Withholding Tax 123 §19. NOTICES 125 §20. RELATIONSHIP 000 §00. GOVERNING LAW; CONSENT TO JURISDICTION AND SERVICE 127 §22. HEADINGS 000 §00. COUNTERPARTS; INTEGRATION; EFFECTIVENESS; ELECTRONIC EXECUTION 128 §24. ENTIRE AGREEMENT, ETC. 000 §00. WAIVER OF JURY TRIAL AND CERTAIN DAMAGE CLAIMS 000 §00. DEALINGS WITH THE BORROWER 129 §27. CONSENTS, AMENDMENTS, WAIVERS, ETC. 000 §00. SEVERABILITY 132 §29. NO UNWRITTEN AGREEMENTS 000 §00. ACKNOWLEDGMENT OF INDEMNITY OBLIGATIONS 000 §00. REPLACEMENT OF NOTES 000 §00. TIME IS OF THE ESSENCE 000 §00. RIGHTS OF THIRD PARTIES 000 §00. GUARANTY 133 §34.1 The Guaranty 133 §34.2 Obligations Unconditional 134 §34.3 Reinstatement 135 §34.4 Certain Waivers 135 §34.5 Remedies 135

  • Events of Default; Acceleration If any of the following events ("Events of Default") shall occur:

  • Termination of Obligations Termination of this Agreement pursuant to Section 10.1 hereof shall terminate all obligations of the parties hereunder, except for the obligations under Article IX, Article X, and Sections 11.4, 11.7, 11.14, 11.15 and 11.16 hereof; provided, however, that termination pursuant to paragraphs (b) or (c) of Section 10.1 shall not relieve the defaulting or breaching party or parties from any liability to the other parties hereto.

  • Repayment of Obligations Notwithstanding anything to the contrary contained herein, the Borrower shall repay the Advances Outstanding, all accrued and unpaid Yield, any Breakage Fees, Increased Costs, all accrued and unpaid costs and expenses of the Administrative Agent and Lenders and all other Obligations (other than unmatured contingent indemnification obligations) in full on the Facility Maturity Date.

  • Payment of Obligations Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its material obligations of whatever nature, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of the Borrower or its Subsidiaries, as the case may be.

  • Payment of Obligation 44 8.2 Covenants......................................................................................44 8.3

  • Duration of Obligations The Manager’s obligation to provide Disentanglement Services will continue during the period commencing on the date that a Termination Notice is delivered and ending on the date on which the Successor Manager or the re-engaged Manager assumes all of the obligations of the Manager hereunder (the “Disentanglement Period”).

  • Events of Default and Termination Events (i) The following provisions of Section 5 will not apply to either Party A or Party B: Section 5(a)(ii) Section 5(a)(iii) Section 5(a)(iv) Section 5(a)(v) Section 5(a)(vi) Section 5(b)(iii) Section 5(b)(iv)

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