Enforcement Events. Each of the following events is an “Enforcement Event” with respect to the Preferred Securities: (i) the breach of any term, obligation or condition binding on the Company under the Preferred Securities (other than any of the Company’s payment obligations under or arising from the Preferred Securities, including payment of any Liquidation Preference (and premium, if any), Distributions or Additional Amounts (including upon a Capital Reduction), payment of the Redemption Price or payment of any damages awarded for breach of any obligations)) (a “Performance Obligation”); or (ii) the occurrence of any voluntary or involuntary liquidation or winding-up of the Company (a “Liquidation Event”). Neither the exercise of the Spanish Bail-in Power nor the exercise of any other resolution tool by the Relevant Spanish Resolution Authority or any action in compliance therewith shall constitute an Enforcement Event or other default under the terms of the Preferred Securities or the Indenture.
Enforcement Events. There will be no events of default in respect of the Notes. However, each Note shall bec ome immediately due and payable at its principal amount, together with accrued interest thereon, if any, to the date of payment and any Arrears of Interest in the case of the liquidation of the Issuer. Liquidation may occur as a result of the winding-up of the Issuer (ontbinding en vereffening), bankruptcy (faillissement) of the Issuer, the suspension of payments (surseance van betaling) being applied to the Issuer or Resolution of the Issuer, in either case, if that constitutes a liquidation.
Enforcement Events. (a) Any one or more of the following events shall constitute an Enforcement Event:
(i) there is a failure to make payment of any principal or any interest in respect of the Notes within three Banking Days of the relevant due date; or
(ii) an order is made or an effective resolution is passed for the bankruptcy or liquidation of the Issuer.
(i) If an Enforcement Event shall have occurred and be continuing, any Noteholder may, at its discretion and without further notice, institute such proceedings against the Issuer as it may think fit to enforce its rights provided that the Issuer shall not by virtue of the institution of any such proceedings be obliged to pay any sumor sums sooner than the same would otherwise have been payable, except as set forth in (ii) below.
(ii) If an order is made or an effective resolution is passed for the bankruptcy or liquidation of the Issuer, then all the Notes shall become immediately due and payable at the request of any Noteholder at their then outstanding principal amount together with interest accrued to such date. If any Note shall become so repayable, it shall be repaid at its Final Redemption Amount, together with accrued interest (if any) to the date of payment thereof.
(c) For the purposes of this Condition, Banking Day means a day which is both:
(i) a day on which commercial banks and foreign exchange markets settle payments and are open for general business (including dealing in foreign exchange and foreign currency deposits) in Copenhagen; and
(ii) either (A) in relation to any sum payable in a Specified Currency other than euro, a day on which commercial banks and foreign exchange markets settle payments and are open for general business (including dealing in foreign exchange and foreign currency deposits) in the principal xxxxx cial centre of the country of the relevant Specified Currency (which if the Specified Currency is Australian dollars or New Zealand dollars shall be Sydney or Auckland, respectively) or (B) in relation to any sumpayable in euro, a day on which the TARGET2 Systemis open; and
Enforcement Events. The term “Enforcement Event” whenever used herein means any one of the following events:
Enforcement Events. (a) If a Non-payment Event occurs, then the Trustee, on behalf of the Holders of the Notes, may, at its discretion, or shall at the direction of Holders of 25% of the aggregate principal amount of outstanding Notes, subject to any applicable laws, institute proceedings for the bankruptcy of the Company and/or prove in any bankruptcy (or other insolvency proceedings) of the Company in respect of any payment or delivery, as the case may be, obligations of the Company arising under the Notes, but may take no other action in respect of such Non-payment Event.
(b) If a Bankruptcy, Dissolution or Liquidation Event occurs, each Holder will be entitled to declare its Notes due and demand immediate redemption thereof at the Redemption Amount, together with accrued and unpaid interest, if any, to the date of repayment and Optionally Outstanding Payments, if any.
(c) Neither the Trustee nor any Holder may take any action other than pursuant to clause (a) or (b) above in respect of an Enforcement Event, and in particular may not take any other action that would influence the outcome of a bankruptcy proceeding or restructuring outside bankruptcy. In addition, following a judgment for bankruptcy, dissolution or liquidation of the Company, if such judgment that would otherwise constitute an Enforcement Event is overturned on appeal or otherwise validly nullified, then such judgment will be deemed to have never constituted an Enforcement Event and the Notes will be deemed to have not become due and repayable as a result thereof.
Enforcement Events. If one or more of the following events (each, an “Enforcement Event” and, collectively, the “Enforcement Events”) shall have occurred and be continuing:
(a) the Borrower shall fail to pay any principal of the Loans when the same shall become due and payable, whether on DEMAND, at the stated date of maturity or any accelerated date of maturity or at any other date fixed for payment;
(b) the Borrower shall fail to pay any interest owing hereunder or any fees or other sums due hereunder or under the other Loan Documents within five (5) days of the date when the same shall become due and payable; or
(c) the Borrower shall fail to observe or perform any agreement, condition, conduct of business guideline or other guideline contained in this Agreement (other than Section 5.04) or any of the other Loan Documents; or
(d) the Borrower shall fail to observe or perform the conduct of business guideline contained in Section 5.04 hereof and such failure shall continue for thirty (30) days;
(e) any representation, warranty, certification or statement made (or deemed made) by the Borrower in this Agreement, in any other Loan Document, or in any certificate, financial statement or other document delivered pursuant to this Agreement or any other Loan Document shall prove to have been incorrect in any material respect when made (or deemed made); or
(f) the Borrower shall fail to make any payment in respect of any Debt in excess of $1,000,000 when due or within any applicable grace period; or
(g) any event or condition shall occur which results in the acceleration of the maturity of any Debt of the Borrower or enables the holder of such Debt or any Person acting on such holder’s behalf to accelerate the maturity thereof or, in the case of a financial contract, enables the non-defaulting party to terminate the contract evidencing such Debt; or
(h) the Borrower or the Investment Manager shall commence a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to its debts under any bankruptcy, insolvency or other similar law of any jurisdiction, now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian, examiner or other similar official of the Borrower or the Investment Manager or any substantial part of the Borrower’s or the Investment Manager’s property, or shall consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other pro...
Enforcement Events. 7.1 The Securities shall become enforceable if an Event of Default has occurred.
7.2 At any time after the occurrence of an Event of Default, we may (without it being necessary to appoint a Receiver under this Agreement or give any prior notice to you) do all or any of the following:
(a) declare the Secured Money to be due and payable, whereupon it shall become immediately due and payable;
(b) enter into possession of all or any of the Secured Property as mortgagee (and, for that purpose, enter on any land or premises on which the Secured Property is kept and remove the Secured Property);
(c) sell or otherwise dispose of all or any of the Secured Property in such manner and generally on such terms and conditions as we think desirable; and/or
(d) (whether or not a Receiver has been appointed) exercise all or any rights which a person would have if appointed as a Receiver under this Agreement. Our rights under this clause are in addition to any other rights we may have (whether under this Agreement or by law, by any other document or otherwise).
7.3 In respect of any sale, we may (subject to any applicable mandatory provisions of law):
(a) sell all or any part of the Secured Property;
(b) sell subject to or free of any security having priority over the security under this Agreement;
(c) sell altogether or in lots;
(d) sell by public auction or by private contract or partly by one and partly by other of those methods of sale;
(e) sell subject to such conditions as to title or evidence of title, time or mode of payment of purchase money, or otherwise as we think fit;
Enforcement Events. The occurrence of any of the following events after the date of this Agreement shall constitute an "ENFORCEMENT EVENT" under this Agreement:
(a) Any failure by the Borrower to pay any sum when due under the Note, this Agreement or any other Loan Document (and the continuation of such failure beyond the expiration of the grace period, if any, provided therein for such payment); or
(b) Any failure by the Borrower, or its Affiliates, to observe any of the affirmative and negative covenants set forth in Articles VI, VII and IX, respectively, which if caused or occasioned or permitted voluntarily by the Borrower or any of its Affiliates (as applicable) would breach any affirmative or negative covenant set forth in Article VI, VII or IX, as applicable, which failure remains uncured for a period of thirty (30) calendar days following the first date of such failure or omission; or
(c) Any representation, warranty, affidavit, material certificate or statement made or delivered to Lender by or on behalf of the Borrower from time to time in connection with the Loan, this Agreement or any other Loan Document shall prove false, incorrect or misleading in any respect deemed material by the Lender; or
(d) Any failure to obtain, assign, deliver or keep in force the policies of insurance required by this Agreement or any other Loan Document, if any, which failure remains uncured for a period of thirty (30) calendar days following the first date of such failure or omission; or
(e) The Borrower's failure to remove any involuntary Lien against any of the Collateral securing the Loan or any part thereof within forty-five (45) days after its filing or the filing of any suit against any of the Collateral securing the Loan giving rise to such Lien; or
(f) Any modification, amendment, repeal or rescission of any law, regulation, code, statute, order, ordinance or legislation of any kind that would have a material adverse affect on the Collateral, or otherwise would have a material adverse affect on the Borrower in any way which material adverse effect remains uncured for a period of thirty (30) calendar days following the effective date of such modification, amendment, repeal or rescission; or
(g) Any failure by the Borrower to comply within thirty (30) days with any notice of violation of any restrictive covenant affecting any of the Collateral securing the Loan or from any party entitled to enforce such covenant (or, in the case of a curable noncompliance requiring longer than t...
Enforcement Events. Any security will be enforceable in the event that any sum in principal, interest or otherwise which is due and payable under this Agreement (subject to the provisions of the Subordination Agreement and the ABCR Subordination Agreement) remains unpaid at its due date after any applicable grace period or following an acceleration under this Agreement.
Enforcement Events. For purposes of this Guaranty, the term “
