Common use of EVENTS OF ACCELERATION Clause in Contracts

EVENTS OF ACCELERATION. The entire unpaid principal balance of ---------------------- this Note, together with all accrued and unpaid interest, shall become immediately due and payable prior to the specified due date of this Note upon the occurrence of one or more of the following events: A. the failure of the Maker to pay any installment of accrued interest under this Note when due and the continuation of such default for more than thirty (30) days; or B. the expiration of the thirty (30)-day period following the date the Maker ceases for any reason to remain in the service of the Corporation; or C. the insolvency of the Maker, the commission of any act of bankruptcy by the Maker, the execution by the Maker of a general assignment for the benefit of creditors, the filing by or against the Maker of any petition in bankruptcy or any petition for relief under the provisions of the Federal bankruptcy act or any other state or Federal law for the relief of debtors and the continuation of such petition without dismissal for a period of thirty (30) days or more, the appointment of a receiver or trustee to take possession of any property or assets of the Maker or the attachment of or execution against any property or assets of the Maker; or D. the occurrence of any event of default under the Stock Pledge Agreement securing this Note or any obligation secured thereby.

EVENTS OF ACCELERATION. The entire unpaid principal balance of ---------------------- this Note, together with all accrued and unpaid interest, shall become immediately due and payable prior to the specified due date of this Note upon the occurrence of one or more of the following events: A. the failure of the Maker to pay any installment of accrued interest under this Note when due and the continuation of such default for more than thirty (30) days; or B. the expiration of the thirty (30)-day period following the date the Maker ceases for any reason to remain in the service of the Corporation; or C. the insolvency of the Maker, the commission of any act of bankruptcy by the Maker, the execution by the Maker of a general assignment for the benefit of creditors, the filing by or against the Maker of any petition in bankruptcy or any petition for relief under the provisions of the Federal bankruptcy act or any other state or Federal law for the relief of debtors and the continuation of such petition without dismissal for a period of thirty (30) days or more, the appointment of a receiver or trustee to take possession of any property or assets of the Maker or the attachment of or execution against any property or assets of the Maker; or D. the occurrence of any event of default under the Stock Pledge Agreement securing this Note or any obligation secured thereby.

EVENTS OF ACCELERATION. The entire unpaid principal balance of ---------------------- this Note, together with all accrued and unpaid interest, shall become immediately due and payable prior to the specified due date of this Note upon the occurrence of one or more of the following events: A. the failure of the Maker to pay any installment of when due the accrued interest under on this Note when due and the continuation of such default for more than thirty (30) days; or B. the expiration of the thirty sixty (30)-day 60)-day period following the date the Maker ceases for any reason to remain in the service of the Corporation's employ; or C. the insolvency of the Maker, the commission of any act of bankruptcy by the Maker, the execution by the Maker of a general assignment for the benefit of creditors, the filing by or against the Maker of any petition in bankruptcy or any petition for relief under the provisions of the Federal bankruptcy act or any other state or Federal law for the relief of debtors and the continuation of such petition without dismissal for a period of thirty (30) days or more, the appointment of a receiver or trustee to take possession of any property or assets of the Maker or the attachment of or execution against any property or assets of the Maker; or D. the occurrence of any event of default under the Stock Pledge Agreement securing this Note or any obligation secured thereby.