Definition of Event of Default. Any one or more of the following events shall constitute an “Event of Default”:
Definition of Event of Default. Notwithstanding any other term of this Agreement, the principal balance of the Loan, interest, costs and any other money owing to the Lender under this Agreement and the Lender's Security will immediately become payable unless otherwise waived in writing by the Lender in any of the following events (each an "Event of Default"):
(a) the Borrower defaults in any payment when due under this Agreement or the Original Loan Agreement or the Borrower or any Subsidiary defaults in any payment when due under the Lender's Security and any such default is not remedied within five business days after such default;
(b) the Borrower fails to observe or perform any of the covenants in this Agreement or the Original Loan Agreement or the Borrower or any Subsidiary fails to observe or perform any of the covenants in the Lender's Security and such failure is not remedied within 30 days of receipt of notice from the Lender or, if such failure is not capable of being remedied in such time, the Borrower or the Subsidiary, as the case may be, has not commenced and diligently continued to take all action necessary to correct such failure;
(c) an event of default (as defined in the Original Loan Agreement or in any general security agreement between the Original Lenders and the Borrower or any Subsidiary) otherwise occurs;
(d) the Borrower or any Subsidiary fails to observe or perform any of its payment obligations under any agreement or instrument evidencing or securing any Senior Indebtedness;
(e) the Borrower or any Subsidiary is otherwise in material breach of any of the terms, conditions or covenants in any agreement or instrument evidencing or securing any Senior Indebtedness and such breach is not cured within the applicable time periods for remedying breaches or is not waived by the Senior Lender; and
(f) if, during the term of this Agreement, there is a Change of Control, and the Lender gives written notice to the Borrower within 30 days of the Lender receiving notice of the Change of Control that the Change of Control constitutes an Event of Default.
Definition of Event of Default. The occurrence of any one or more of the following events shall constitute an Event of Default hereunder:
a. The failure of Mortgagor to make any payments required under the Notes or this Mortgage; or
b. Mortgagor shall fail to perform or observe any other term, covenant, warranty, obligation, provision, representation, or agreement contained in this Mortgage or any other Obligation;
c. Any representation, statement, or warranty made in this Mortgage shall prove to have been false or incorrect in any material respect when made;
d. Mortgagor shall transfer all or a part of the Mortgaged Property in violation of this Mortgage;
e. The holder of any lien shall commence foreclosure proceedings against the Mortgaged Property or any part thereof;
f. Mortgagor shall be insolvent, or shall file a voluntary petition in bankruptcy or a voluntary petition seeking to effect a plan or other arrangement with creditors;
g. Mortgagor shall be adjudicated bankrupt, or shall make an assignment for the benefit of creditors, or shall apply for or consent to the appointment of any receiver or trustee for itself, or for the Mortgaged Property or any part thereof, or for all or any substantial portion of its other property, or a suit shall be instituted against Mortgagor seeking to establish bankruptcy, insolvency, arrangement, debt adjustment, receivership, sequestration, liquidation or attachment of the Mortgagor, or of the Mortgaged Property or any part thereof, or of all or any substantial portion of its other property which is not dismissed within sixty (60) days thereafter;
h. The Mortgaged Property or any part thereof is taken or damaged by eminent domain, alteration on the grade of any street, or other injury to or decrease in the value of the Mortgaged Property, by reason of any public or quasi-public improvement or condemnation proceeding or any other similar manner ("Condemnation"), regarding such condemnation or proposed condemnation;
i. The Mortgaged Property is materially damaged by any fire or casualty not covered by insurance sufficient to provide for the material restoration thereof;
j. The occurrence of an "Event of Default" under any Loan Document.
Definition of Event of Default. The Loan, costs and any other money owing to the Lender under this Agreement will immediately become payable upon demand by the Lender or, unless otherwise waived in writing by the Lender, in any of the following events:
(a) if the Borrower defaults in any payment when due under this Agreement;
(b) if the Borrower commits any default under any of the Lender’s Security instruments;
(c) if the Borrower becomes insolvent or makes a general assignment for the benefit of its creditors, or if any order is made or an effective resolution is passed for the winding-up, merger or amalgamation of the Borrower or if the Borrower is declared bankrupt or if a custodian or receiver be appointed for the Borrower under the applicable bankruptcy or insolvency legislation, or if a compromise or arrangement is proposed by the Borrower to its creditors or any class of its creditors, or if a receiver or other officer with like powers is appointed for the Borrower;
(d) if the Borrower defaults in observing or performing any other covenant or agreement of this Agreement on its part to be observed or performed and such default has continued for a period of seven (7) days after notice in writing has been given by the Lender to the Borrower specifying the default.
Definition of Event of Default. The term "Event of Default" shall mean and refer to the occurrence of any one or more of the circumstances.
Definition of Event of Default. Each one of the following events constitutes an “Event of Default”:
(i) Any failure by Tenant to pay rent or other monetary sums required to be paid hereunder on the date such sums are due and the continuance of such failure for a period of thirty (30) days after written notice of such failure from Landlord.
(ii) The filing of any petition or the commencement of any case or proceeding by Tenant under any provision or chapter of the federal Bankruptcy Act, the federal Bankruptcy Code, or any other federal or state law relating to insolvency, bankruptcy, or reorganization, or the adjudication that Tenant is insolvent or bankrupt, or the entry of an order for relief under the federal Bankruptcy Code with respect to Tenant.
(iii) The filing of any petition or the commencement of any case or proceeding described in Section 14.A.(ii) above against Tenant, unless such petition and all proceedings initiated thereby are dismissed within sixty (60) days from the date of such filing; the filing of an answer by Tenant admitting the allegations of any such petition; the appointment of or taking possession by a custodian, trustee or receive for all or any assets of Tenant, unless such appointment is vacated or dismissed within sixty (60) days from the date of such appointment.
(iv) Tenant fails to perform any of the other material agreements, terms, covenants or conditions of the Lease on Tenant’s part to be performed, and such non-performance continues for a period of thirty (30) days after written notice thereof by Landlord to Tenant or, if such performance cannot reasonably be attained within such thirty (30) day period, Tenant does not in good faith commence such performance within such thirty (30) day period and does not diligently proceed therewith to completion.
Definition of Event of Default. The principal balance of the Loan, interest, costs and any other money owing to the Lender under this Agreement will immediately become payable upon demand by the Lender or, unless otherwise waived in writing by the Lender, in any of the following events:
(a) if the Borrower defaults in any payment when due under this Agreement;
(b) if the Borrower becomes insolvent or makes a general assignment for the benefit of its creditors, or if any order is made or an effective resolution is passed for the winding-up, merger or amalgamation of the Borrower or if the Borrower is declared bankrupt or if a custodian or receiver be appointed for the Borrower under the applicable bankruptcy or insolvency legislation, or if a compromise or arrangement is proposed by the Borrower to its creditors or any class of its creditors, or if a receiver or other officer with like powers is appointed for the Borrower; or
(c) if the Borrower defaults in observing or performing any other covenant or agreement of this Agreement on its part to be observed or performed and such default has continued for a period of seven days after notice in writing has been given by the Lender to the Borrower specifying the default.
Definition of Event of Default. A. Upon the occurrence of any Default by either party hereto (hereinafter referred to as the "defaulting party") under Section 16.01A, B, and C, such Default shall immediately and automatically, without the necessity of any notice to the defaulting party, be deemed an "Event of Default" under this Agreement.
B. Upon the occurrence of any Default by either party hereto under Section 16.01E, such Default shall be deemed an "Event of Default" under this Agreement if the defaulting party fails to cure such Default within ten (10) Business Days after written notice from the non-defaulting party demanding such cure.
C. Upon the occurrence of any Default by either party hereto under Section 16.01D and F, such Default shall be deemed an "Event of Default" under this Agreement if the defaulting party fails to cure such Default within thirty (30) Days after written notice from the non-defaulting party demanding such cure, or if the Default is such that it cannot reasonably be cured within said thirty (30) Day period, if the defaulting party fails to commence the cure of such Default within said thirty (30) Day period or fails to diligently pursue such efforts to completion.
D. Upon the occurrence of any Default by Operator with respect to its obligations under Section 2.03A1 resulting in the suspension or revocation of a material License, such Default shall be deemed an "Event of Default" under this Agreement if Operator fails to obtain reinstatement of such License, either (i) within sixty (60) Days after the date of the relevant suspension(s) or revocation, or (ii) if Operator had received from the appropriate regulatory authorities at least thirty (30) Days prior written notice of the impending suspension or revocation, then within thirty (30) Days after the relevant suspension or revocation.
Definition of Event of Default. “Event of Default” means, wherever used herein, any of the following events (whatever the reason for such event and whether such event shall be voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court, or any order, rule or regulation of any administrative or governmental body):
Definition of Event of Default. Each of the following events and conditions is hereby defined to be an “Event of Default” for purposes of this Note: (i) the insolvency of the Borrower; (ii) the commission of any act of bankruptcy by the Borrower; (iii) the execution by the Borrower of a general assignment for the benefit of creditors; (iv) the filing by or against the Borrower of a petition in bankruptcy or any petition for relief under the federal bankruptcy act or the continuation of such petition without dismissal for a period of ninety (90) days or more; (v) the appointment of a receiver or trustee to take possession of the property or assets of the Borrower; or (vi) if the Borrower materially fails to perform any term, covenant or agreement contained in the Note or the Note Purchase Agreement, and does not cure such material breach within thirty (30) days of written receipt of notice from the Lender describing such material breach, or does not cure such material breach within any further extended cure period approved by the Lender after the Borrower has made a good faith effort to cure such material breach and requested an extension of the original thirty (30)-day cure period for such material breach that was approved by the Lender. Notwithstanding the foregoing, with respect to a payment default, it shall be an “Event of Default” if the Borrower fails to cure such payment default within seven (7) Business Days of written receipt of notice from the Lender describing such breach.
