Effects of Event of Default Sample Clauses

Effects of Event of Default. The Borrower shall be liable to repay the entire outstanding loan amount to Xxxxxx Xxxxx Finance Limited along with the Interest and Penal Interest. The above facility is subject to you submitting the necessary documentation, including but not limited to the KYC, bank statement and / or income proof(s), NACH registration request, execution of the Loan / Facility agreement and payment of advance EMIs in favor of Xxxxxx Xxxxx Finance Limited The facility is solely being granted by Xxxxxx Xxxxx Finance Limited and you shall be required to fully repay the sanctioned amount with charges, if any, thereto directly to Xxxxxx Xxxxx Finance Limited We hereby request to you to acknowledge that:
Sample 1Sample 2Sample 3See All (14)
AutoNDA by SimpleDocs
Effects of Event of Default. The Company agrees, for the benefit of the holders of Senior Indebtedness, that in the event that a Note is declared due and payable before its maturity because of the occurrence of an Event of Default, (i) the Company will give prompt notice in writing of such happening to the holders of Senior Indebtedness and (ii) all Senior Indebtedness shall forthwith become immediately due and payable upon demand, regardless of the expressed maturity thereof.
Sample 1Sample 2Sample 3See All (8)
Effects of Event of Default. At anytime after the occurrence of an Event of Default, the following provisions shall apply:
Sample 1
Effects of Event of Default a. In the event an Event of Default occurs: (i) at the option of the Holder, all sums of principal and interest then remaining unpaid hereon and all other amounts payable hereunder shall become immediately due and payable upon demand, without presentment, or grace period, all of which hereby are expressly waived, except as set forth below; and (ii) the Conversion Price shall be adjusted to the lower of: (a) the Conversion Price in effect at the time of such Event of Default; or (b) $.00003. Such default Conversion Price shall not be adjusted or affected in any way by any corporate actions, including any forward or reverse split of the borrower’s Common Stock.
Sample 1

Related to Effects of Event of Default

  • Consequences of Event of Default (a) If an Event of Default specified under subsections (a) through (o) of Section 9.01 hereof shall occur and be continuing, the Banks shall be under no further obligation to make Loans hereunder and the Administrative Agent upon the request of the Required Banks, shall (i) by written notice to the Borrower, declare the unpaid principal amount of the Notes then outstanding and all interest accrued thereon, any unpaid fees and all other Indebtedness of the Borrower to the Banks hereunder and thereunder to be forthwith due and payable, and the same shall thereupon become and be immediately due and payable to the Administrative Agent for the benefit of each Bank without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived, and (ii) require the Borrower to, and the Borrower shall thereupon, deposit in a non-interest bearing account with the Administrative Agent, as cash collateral for its obligations under the Loan Documents, an amount equal to the maximum amount currently or at any time thereafter available to be drawn on all outstanding Letters of Credit, and the Borrower hereby pledges to the Administrative Agent and the Banks, and grants to the Administrative Agent and the Banks a security interest in, all such cash as security for such obligations. Upon the curing of all existing Events of Default to the satisfaction of the Required Banks, the Administrative Agent shall return such cash collateral to the Borrower; and

  • EFFECT OF AN EVENT OF DEFAULT If any Event of Default shall occur, except where otherwise provided in this Agreement or the Related Documents, all commitments and obligations of Lender under this Agreement or the Related Documents or any other agreement immediately will terminate (including any obligation to make further Loan Advances or disbursements), and, at Lender's option, all Indebtedness immediately will become due and payable, all without notice of any kind to Borrower, except that in the case of an Event of Default of the type described in the "Insolvency" subsection above, such acceleration shall be automatic and not optional. In addition, Lender shall have all the rights and remedies provided in the Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by applicable law, all of Lender's rights and remedies shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Borrower or of any Grantor shall not affect Lender's right to declare a default and to exercise its rights and remedies.

  • Consequences of Events of Default (i) If an Event of Default has occurred and is continuing, the interest rate on this Note shall increase immediately by an increment of an additional two hundred basis points, to the extent permitted by applicable law. Any increase of the interest rate resulting from the operation of this subparagraph shall terminate as of the close of business on the date on which no Events of Default exist (subject to subsequent increases pursuant to this subparagraph).

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!