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 expiration of the thirty (30)-day period following the date the Maker ceases for any reason to pay its monthly obligations to the Lender; or B. 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

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 expiration of the thirty sixty (30)-day 60)-day period following the date the Maker ceases for any reason to pay its monthly obligations to remain in the LenderCorporation's employ; or B. 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 C. the occurrence of any event of default under the Stock Pledge Agreement securing this Note or any obligation secured thereby.

EVENTS OF ACCELERATION. The Following the Maker's cessation of employment with the Payee for a reason that does not require forgiveness pursuant to Section 5 hereof, the entire unpaid principal balance sum of this Note, together with all accrued and unpaid interest, Note shall become immediately due and payable prior to the specified due date of this Note upon the occurrence of one or more both of the following events: A. (a) The failure of Maker to pay any installment of principal and accrued interest when due and the expiration continuation of the such default for thirty (30)-day period following the date the Maker ceases for any reason to pay its monthly obligations to the Lender30) days; or B. the (ii) 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 and in bankruptcy or any petition for relief under the provisions of the Federal bankruptcy act Bankruptcy Act or any other state or Federal fedora] 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 Maker, or the attachment of or execution against any property or assets of the Maker; or.

EVENTS OF ACCELERATION. The entire unpaid outstanding principal balance amount 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. (a) the expiration of the thirty (30)-day ten-day period following the date the Maker ceases for any reason to pay its monthly obligations remain in the employ of the Corporation, subject to the Lenderterms of the Letter Agreement; or B. (b) 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.

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:events (each an “Event of Acceleration”): A. the expiration of the thirty (30)-day period following the date closing by the Maker ceases for any reason of a debt or equity financing equal to pay its monthly obligations to the LenderOne Million Dollars ($1,000,000.00) or greater; or B. 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

EVENTS OF ACCELERATION. The Following the Maker's cessation of employment with the Payee for a reason that does not require forgiveness pursuant to Section 5 hereof, the entire unpaid principal balance sum of this Note, together with all accrued and unpaid interest, Note shall become immediately due and payable prior to the specified due date of this Note upon the occurrence of one or more both of the following events: A. (a) The failure of Maker to pay any installment of principal and accrued interest when due and the expiration continuation of the such default for thirty (30)-day period following the date the Maker ceases for any reason to pay its monthly obligations to the Lender30) days; or B. the (ii) 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 and in bankruptcy or any petition for relief under the provisions of the Federal bankruptcy act Bankruptcy Act or any other state or Federal fedora] 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 Maker, or the attachment of or execution against any property or ox- assets of the Maker; or.

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 expiration of the thirty sixty (30)-day 60)-day period following the date the Maker ceases for any reason to pay its monthly obligations to remain in the LenderCorporation's employ; or B. 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 C. the occurrence of any event of default under the Stock Pledge Agreement securing this Note or any obligation secured thereby.

EVENTS OF ACCELERATION. The Following the Maker's cessation of employment with the Payee for a reason that does not require forgiveness pursuant to Section 5 hereof, the entire unpaid principal balance sum of this Note, together with all accrued and unpaid interest, Note shall become immediately due and payable prior to the specified due date of this Note upon the occurrence of one or more both of the following events: A. (i) The failure of Maker to pay any installment of principal and accrued interest when due and the expiration continuation of the such default for thirty (30)-day period following the date the Maker ceases for any reason to pay its monthly obligations to the Lender30) days; or B. the (ii) 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 and in bankruptcy or any petition for relief under the provisions of the Federal bankruptcy act Bankruptcy Act or any other state or Federal fedora] 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 Maker, or the attachment of or execution against any property or ox- assets of the Maker; or.