Event of Default; Default Sample Clauses

Event of Default; Default. The term "
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Event of Default; Default. “Event of Default” shall mean any of the events specified herein provided that there has been satisfied any requirement in connection with such event for the giving of notice, or the lapse of time, or the happening of any further condition, event, or act; “Default” shall mean any of such events, whether or not any such requirement has been satisfied.
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Event of Default; Default. The following events shall constitute an event of default (each, an “Event of Default”): (i) the failure of the Maker to make any payment hereunder when due; (ii) upon the sale of more than 50% of the Company's assets; (iii) upon any sale, merger, consolidation, share exchange or similar occurrence which results in the Maker’s shareholders owning, in the aggregate, less than fifty percent (50%) of the voting stock of the Maker or the surviving entity, whichever is applicable; (iv) the Maker shall file a petition in voluntary bankruptcy under the bankruptcy laws of the United States of America or any similar bankruptcy or insolvency law, state or federal, whether now or hereafter existing; (v) the Maker admits insolvency or inability to pay its debts in, or fails to obtain within fifteen (15) days a vacation or stay of, any involuntary proceedings filed against Maker under the bankruptcy laws of the United States of America or any similar bankruptcy or insolvency law, state or federal, whether now or hereafter existing; (vi) the Maker shall be adjudicated bankrupt, or a trustee or a receiver shall be appointed for the Maker, in any involuntary proceeding or any court shall have taken jurisdiction of the property of the Maker or the major part thereof, in any involuntary proceeding for the reorganization, dissolution, liquidation or winding up of the Maker, and such trustee or receiver shall not be discharged or such jurisdiction relinquished or vacated or stayed on appeal or otherwise stayed within fifteen (15) days; or (vii) the Maker shall make a general assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due, or shall consent to the appointment of a receiver or trustee or liquidator of all its property or the major part thereof. Upon or at any time after the occurrence and during the continuance of an Event of Default: (i) the outstanding Principal Amount and any accrued interest under the Note shall be accelerated and shall be immediately due and payable, without presentment, demand, protest or further notice by the Holder; and (ii) the outstanding Principal Amount shall bear interest at a rate of 16% per annum (“Default Rate”). Upon or at any time after the occurrence and during the continuance of an Event of Default, the Holder shall have and may exercise from time to time all of the rights and remedies available under applicable law, and all other legal and equitable rights to whi...
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Event of Default; Default. 2 Holder . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Indenture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
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Event of Default; Default. 43 11.2 Acceleration of the Liabilities...........................46 11.3 Remedies..................................................46 11.4 Notice....................................................47
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Event of Default; Default. The occurrence of any one or more of the following events shall constitute an Event of Default which, if not cured within the applicable grace period or waived in writing by Lender, shall constitute a Default:
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Event of Default; Default. No Default or Event of Default under the Lease shall have occurred or be in existence.
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Related to Event of Default; Default

  • Event of Default; Notice (a) The Guarantee Trustee shall, within 90 days after the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders, notices of all Events of Default known to the Guarantee Trustee, unless such defaults have been cured before the giving of such notice, provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders.

  • Event of Default Any of the following shall constitute an “Event of Default”:

  • Event of Default Defined Acceleration of Maturity; Waiver of Default. "Event of Default" with respect to Securities of any series wherever used herein, means each one of the following events which shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be 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):

  • Event of Default; Waiver The Holders of a Majority in Liquidation Amount of the Preferred Securities may, on behalf of the Holders, waive any past Event of Default and its consequences. Upon such waiver, any such Event of Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Guarantee Agreement, but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent therefrom.

  • Additional Event of Default The following will constitute an additional Event of Default with respect to Party B: "NOTE ACCELERATION NOTICE. A Note Acceleration Notice is served on Party B in relation to the Relevant Notes."

  • Default or Event of Default No Default or Event of Default hereunder has occurred or is continuing or will occur as a result of the giving effect hereto.

  • No Event of Default No Default or Event of Default has occurred and is continuing.

  • Notice of Default or Event of Default promptly, and in any event within five days after a Responsible Officer becoming aware of the existence of any Default or Event of Default or that any Person has given any notice or taken any action with respect to a claimed default hereunder or that any Person has given any notice or taken any action with respect to a claimed default of the type referred to in Section 11(f), a written notice specifying the nature and period of existence thereof and what action the Company is taking or proposes to take with respect thereto;

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