Common use of Events of Breach Clause in Contracts

Events of Breach. Where any of the following circumstances occurs, the Guarantor constitutes breach of this Contract: (1) Any statement, acknowledgement or guarantee of the Guarantor under this Contract or any notice, authorization, approval, consent, certificate or any other document made under this Contract or in connection with this Contract is inaccurate or misleading, or confirmed to be inaccurate or misleading, or verified to be invalid or have been revoked; (2) The Guarantor breaches of any item under Article 4 herein; (3) The Guarantor winds up, stops production, is under restructuring, liquidation, receivership or trusteeship, is dissolved or bankrupt, or has its business license revoked or cancelled; (4) The Guarantor is dead or declared dead; (5) The Guarantor transfers or tries to transfer assets by excuse of change of marital relationship; (6) The financial status of the Guarantor worsens, or its operation is in great difficulty, or any event or circumstance adverse to its operation, financial status or repayment ability occurs; (7) The Guarantor or its controlling shareholder, actual controller or connected person is involved in major lawsuit or arbitration, or any of their major assets are seized, closed down, frozen or enforced compulsorily or suffers from any other measure with equivalent effect, or its legal representative, director, supervisor or officer is involved in lawsuit, arbitration or any other compulsory measure so that the repayment ability of the Guarantor is affected adversely; or (8) The Guarantor breaches of this Contract in any other way so that the normal performance of this Contract is affected, or engages in any other activity damaging the legitimate interest of the Lender.