Common use of Event of Default by Customer Clause in Contracts

Event of Default by Customer. The occurrence of any one or more of the following shall constitute an “Event of Default by Customer” : (a) Customer for any reason fails to pay UnitedLayer any fees, charges or any other amount due under the Agreement within ten (10) days of its due date, b) Customer fails to perform any obligation or covenant set forth in the Agreement and the same is not cured within ten (10) business days following receipt of written notice thereof, or c) Customer admits in writing its inability to pay its debts as they become due, fails to satisfy any judgment against it, ceases operations of its business in the ordinary course, is adjudicated bankrupt or becomes insolvent, winds up or liquidates its business voluntarily or otherwise, applies for, consents to or suffers the appointment of, or the taking or possession by a receiver, custodian, assignee, trustee, liquidator or similar fiduciary of itself or of all or any substantial portion of its assets, makes a general assignment for the benefit of creditors, commences a voluntary case under any state or federal bankruptcy laws (as now or hereafter in effect), files a petition seeking to take advantage of any other law providing for the relief of debtors, acquiesces to, or fails to have dismissed, within 30 days, any petition filed against it in any involuntary case pursuant to such bankruptcy laws and/or takes any action for the purpose of effecting any of the foregoing.

Event of Default by Customer. The occurrence of any one or more of the following shall constitute an “Event of Default by Customer” : (a) Customer for any reason fails to pay UnitedLayer any fees, charges or any other amount due under the Agreement within ten (10) days of its due date, b) Customer fails to perform any obligation or covenant set forth in the Agreement and the same is not cured within ten (10) business days following receipt of written notice thereof, or c) Customer admits in writing its inability to pay its debts as they become due, fails to satisfy any judgment against it, ceases operations of its business in the ordinary course, is adjudicated bankrupt or becomes insolvent, winds up or liquidates its business voluntarily or otherwise, applies for, consents to or suffers the appointment of, or the taking or possession by a receiver, custodian, assignee, trustee, liquidator or similar fiduciary of itself or of all or any substantial portion of its assets, makes a general assignment for the benefit of o f creditors, commences a voluntary case under any state or federal bankruptcy laws (as now or hereafter in effect), files a petition seeking to take advantage of any other law providing for the relief of debtors, acquiesces to, or fails to have dismissed, within 30 days, any petition filed against it in any involuntary case pursuant to such bankruptcy laws and/or takes any action for the purpose of effecting any of the foregoing.

Event of Default by Customer. The occurrence of any one or more of the following shall constitute an “Event of Default by Customer” : (a) Customer for any reason fails to pay UnitedLayer United Private Cloud any fees, charges or any other amount due under the Agreement within ten (10) days of its due date, b) Customer fails to perform any obligation or covenant set forth in the Agreement and the same is not cured within ten (10) business days following receipt of written notice thereof, or c) Customer admits in writing its inability to pay its debts as they become due, fails to satisfy any judgment against it, ceases operations of its business in the ordinary course, is adjudicated bankrupt or becomes insolvent, winds up or liquidates its business voluntarily or otherwise, applies for, consents to or suffers the appointment of, or the taking or possession by a receiver, custodian, assignee, trustee, liquidator or similar fiduciary of itself or of all or any substantial portion of its assets, makes a general assignment for the benefit of creditors, commences a voluntary case under any state or federal bankruptcy laws (as now or hereafter in effect), files a petition seeking to take advantage of any other law providing for the relief of debtors, acquiesces to, or fails to have dismissed, within 30 days, any petition filed against it in any involuntary case pursuant to such bankruptcy laws and/or takes any action for the purpose of effecting any of the foregoing.

Event of Default by Customer. The occurrence of any one or more of the following shall constitute an “Event of Default by Customer” : (a) Customer for any reason fails to pay UnitedLayer UnitedPrivateCloud any fees, charges or any other amount due under the Agreement within ten (10) days of its due date, b) Customer fails to perform any obligation or covenant set forth in the Agreement and the same is not cured within ten (10) business days following receipt of written notice thereof, or c) Customer admits in writing its inability to pay its debts as they become due, fails to satisfy any judgment against it, ceases operations of its business in the ordinary course, is adjudicated bankrupt or becomes insolvent, winds up or liquidates its business voluntarily or otherwise, applies for, consents to or suffers the appointment of, or the taking or possession by a receiver, custodian, assignee, trustee, liquidator or similar fiduciary of itself or of all or any substantial portion of its assets, makes a general assignment for the benefit of creditors, commences a voluntary case under any state or federal bankruptcy laws (as now or hereafter in effect), files a petition seeking to take advantage of any other law providing for the relief of debtors, acquiesces to, or fails to have dismissed, within 30 days, any petition filed against it in any involuntary case pursuant to such bankruptcy laws and/or takes any action for the purpose of effecting any of the foregoing.