Default by the Issuer Sample Clauses
Default by the Issuer. If the Issuer shall fail at the Closing Time to sell and deliver the number of Securities that it is obligated to sell hereunder, then this Agreement shall terminate without any liability on the part of any non-defaulting party except that the provisions of Sections 1, 4, 6 and 7 hereof shall remain in full force and effect. No action taken pursuant to this Section 9 shall relieve the Issuer from liability, if any, in respect of such default.
Default by the Issuer. 10.1. In the event of default by the issuer or by his Paying agent, i.e. in the occurrence of one of the events referred to in Article 10.2.2. of the Terms and Conditions governing the participation in the NBB-SSS, and in the case of a shortage of funds, any reimbursement on the due date or payment of interest due shall be automatically suspended without notice of default until the issuer or his Paying agent has executed valid payment of the total capital or the total interests.
10.2. If the issuer is represented by a Paying agent, the latter must notify the Bank of the issuer’s default or the shortage of funds as early as possible and always before 15:00 CET on the Business day preceding the Principal reimbursement date or the Interest payment date. After that deadline has elapsed, the Paying agent is deemed to have approved the execution of the repayments or the interest payments on the due date, and its account will therefore be debited. The notification to the NBB by the Paying agent must be effected by registered mail with a return receipt. In urgent cases the notification may also take place via SWIFT (message type MT599) or by secured e- mail, with confirmation within 24 hours by registered mail with a return receipt.
Default by the Issuer. None of the Agents shall have any duty or responsibility in case of any default by the Issuer in the performance of its obligations under the Conditions of any Issue (including, without limiting the generality of the foregoing, any duty or responsibility to accelerate all or any of the Bonds of the Issue or to initiate or to attempt to initiate any proceedings at law or otherwise or to make any demand for the payment thereof upon the Issuer).
Default by the Issuer. Except as set forth in this Agreement or the Indenture, the Paying Agent shall not have any duty or responsibility in case of any default by the Issuer in the performance of its obligations under the Indenture or under this Agreement (including, without limiting the generality of the foregoing, any duty or responsibility to prepay all or any of the Notes or to initiate or to attempt to initiate any proceedings at law or otherwise or to make any demand for the payment thereof upon the Issuer).
Default by the Issuer. 10.1. In the event of default by the Issuer or by its Paying Agent, i.e. in the occurrence of one of the events referred to in Article 10.2.2. of the Terms and Conditions governing the participation in the NBB-SSS, and in the case of a shortage of funds, any reimbursement on the due date or payment of interest due shall be automatically suspended without notice of default until the Issuer or its Paying Agent has executed valid payment of the total capital or the total interests. The Paying Agent shall inform the NBB-SSS upon receipt of information regarding the opening of Insolvency proceedings against an Issuer.
10.2. If the Issuer is represented by a Paying Agent, the latter must notify the Bank of the Issuer’s default or the shortage of funds as early as possible and always before 15:00 CET on the Business day preceding the Principal reimbursement date or the Interest payment date. After that deadline has elapsed, the Paying Agent is deemed to have approved the execution of the repayments or the interest payments on the due date, and its account will therefore be debited. The notification to the NBB by the Paying Agent shall be done by e-signed e-mail or, alternatively, by SWIFT (message type MT599) with confirmation within 24 hours by registered mail with a return receipt.
Default by the Issuer. The Issuer shall provide equal protection to all holders of Bonds issued hereunder. Accordingly, in defense of the interests of Bondholders, the Issuer expressly agrees that the Bondholders may, through the Representative under prior resolution of the Bondholders Meeting adopted by the quorum established in article 124 of the Securities Market Law, accelerate the unpaid balance and interest accrued on all of the Bonds in full in advance as if it were a due obligation should any one of the following events occur: