Events of Defaults and Remedies. The following events shall be considered Events of Default with respect to this Note: (a) the Borrower shall default in the payment of any part of the principal or unpaid accrued interest on this Note when due; (b) the Borrower or any of its subsidiaries shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts as they become due, or shall file a voluntary petition for bankruptcy, or shall file any petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, dissolution or similar relief under any present or future statute, law or regulation, or shall file any answer admitting the material allegations of a petition filed against the Borrower or any subsidiary in any such proceeding, or shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of the Borrower or any subsidiary, or of all or any substantial part of the properties of the Borrower or any subsidiary, or the Borrower or any subsidiary or any of their respective directors or majority stockholders shall take any action looking to the dissolution or liquidation of the Borrower or any subsidiary; (c) within thirty (30) days after the commencement of any proceeding against the Borrower or any subsidiary seeking any bankruptcy reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, such proceeding shall not have been dismissed, or within thirty (30) days after the appointment without the consent or acquiescence of the Borrower or any subsidiary of any trustee, receiver or liquidator of the Borrower or any subsidiary or of all or any substantial part of the properties of the Borrower or any subsidiary, such appointment shall not have been vacated; (d) any material representation or warranty made by the Borrower or any subsidiary in this Note or any agreement or instrument provided to the Holder in accordance with the specific terms and conditions of this Note shall prove to have been incorrect when made in any material respect; (e) the Borrower or any subsidiary fails to perform or observe any covenant contained in this Note where the failure to do so could reasonably be expected to have a material adverse effect on the business, assets or financial condition of the Borrower; (f) any material judgment, writ, warrant of attachment or execution or similar process shall be issued o...
Events of Defaults and Remedies. (a) Each of the following specified events shall constitute an “Event of Default”:
(1) default in any payment of interest on any Loan or Note or any fee or other amount (other than any amount referred to in clause (2) of this paragraph (a)) payable under this Agreement or any other Loan Document when due and continued for 30 days;
(2) default in any payment (at maturity, upon redemption or required repurchase, upon declaration of acceleration or otherwise) of the principal of any Loan or Note when due and continued for 3 days;
(3) failure by any Loan Party to comply with Section 7.14;
(4) failure by any Loan Party for 60 days after notice to such Borrower by the Administrative Agent to comply with any covenant or agreement (other than a default referred to in clauses (1), (2) and (3) above);
(5) default under any mortgage, indenture or instrument under which there is issued or by which there is secured or evidenced any Indebtedness for money borrowed by or Hedging Obligations of any Loan Party (or the payment of which is guaranteed by any Loan Party), whether such Indebtedness or guarantee now exists or is created after the Effective Date, if that default:
(a) is caused by a failure to pay principal of, or interest or premium, if any, on, such Indebtedness for money borrowed or Hedging Obligation prior to the expiration of the grace period provided in such Indebtedness on the date of such default (a “Payment Default”); or
(b) results in the acceleration of such Indebtedness for money borrowed or the termination of such Hedging Obligation, in each case prior to its Stated Maturity, and, in either case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates $25,000,000 or more (provided that for the purposes of the foregoing determination the amount of any Hedging Obligation shall be the amount of all payments that a Loan Party is required to make as a result of such termination with such payments being calculated subject to and in accordance with any netting provisions in the agreements documenting such Hedging Obligation); provided, however, that if any such default is cured or waived or any such acceleration rescinded, or such Indebtedness is repaid, within a period of 60 days from the continuation of such default beyond the applicable grace period or the occurrence of such acceleration, as the...
Events of Defaults and Remedies. Upon the occurrence of an Event of Default specified in Section 8.9 (Inability to Pay Debts, Etc.), Section 8.10 (Bankruptcy) or Section 8.11 (Receiver, Etc.) of the Credit Agreement, the unpaid principal balance of this Note, together with all accrued interest then due thereon, shall immediately and automatically become due and payable in full by the Borrower to the Lender. Upon (i) the failure of the Borrower to pay, as and when due, any principal payment, interest, or other payment due hereunder (subject to the Cure Provisions set forth below, as applicable), or (ii) the occurrence of any other Event of Default under the Credit Agreement, the Lender or any other holder of this Note may, at its sole option, accelerate the maturity of this Note and declare the unpaid principal balance of this Note then outstanding, together with all interest accrued thereon, to be immediately due and payable, whereupon the entire unpaid principal balance of this Note, together with accrued but unpaid interest thereon, shall immediately and automatically become due and payable by the Borrower to the Lender. In addition, upon the occurrence of an Event of Default, the Lender may exercise any and all rights and remedies available to the Lender under this Note, the Credit Agreement, the other Financing Documents, or at law or in equity. The Borrower hereby waives diligence, presentment, demand, protest and notice of any kind except for any notice expressly provided for herein.
Events of Defaults and Remedies. It shall constitute an Event of Default hereunder and the Mortgagee shall be entitled to exercise all remedies available to it hereunder if: (a) any of the Mortgagor’s representations contained herein prove to be materially false, inaccurate or misleading; (b) the Mortgagor shall fail to comply with the covenants contained in Section 17C herein; (c) any Hazardous Wastes or Substances are hereafter found to exist on the Mortgaged Property or in its soil or groundwater (except such solvents, cleaning materials and other substances in nominal amounts as are used in connection with the operation or maintenance of the Mortgaged Property and in compliance with applicable laws); or (d) any summons, citation, directive, letter or other communication, written or oral, shall be issued by any local, state or federal governmental agency concerning the matters described in Section 17B herein. Upon an Event of Default, the Mortgagor hereby grants the Mortgagee and its employees and agents an irrevocable and non-exclusive license to enter the Mortgaged Property, in order to inspect, conduct testing and remove Hazardous Wastes and Substances provided, however, such entry shall not unreasonably interfere with the business operations upon the Mortgaged Property. All reasonable costs of such inspection, testing and removal shall immediately become due and payable to the Mortgagee, shall be secured by this Mortgage and shall constitute additional Indebtedness.
Events of Defaults and Remedies. Subject to the provisions of Section 6, upon the occurrence of an Event of Default, at the option and upon the declaration of the Requisite Holders, the entire unpaid principal and accrued and unpaid interest on the Notes shall, without presentment, demand, protest, or notice of any kind, all of which are hereby expressly waived, be forthwith due and payable, and the Holder may, immediately and without expiration of any period of grace, enforce payment of all amounts due and owing under such Note and exercise any and all other remedies granted to it at law, in equity or otherwise. The Company shall promptly notify the Holder of the occurrence of any Event of Default.
Events of Defaults and Remedies. 3 Section 2.01. Events of Default and Certain Remedies......... 3
Events of Defaults and Remedies. Each of the following is deemed to be an event of default (“Event of Default”) hereunder: (i) the failure by the Company to pay any installment of interest on the Promissory Note as and when due and payable and the continuance of any such failure for 15 days, (ii) the failure by the Company to pay all or any part of the principal on the Promissory Note when and as the same becomes due and payable, as set forth above, and the continuance of any such failure for 15 days, (iii) the failure by the Company to observe or perform any other covenant or agreement contained in the Promissory Note and the continuance of such failure for a period of 30 days after written notice is given to the Company by the Holder, (iv) the assignment by the Company for the benefit of creditors, or an application by the Company to any tribunal for the appointment of a trustee or receiver of a substantial part of the assets of the Company, or the commencement of any proceedings relating to the Company under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debts, dissolution or other liquidation law of any jurisdiction; or the filing of such application, or the commencement of any such proceedings against the Company and an indication of consent by the Company to such proceedings, or the appointment of such trustee or receiver, or an adjudication of the Company bankrupt or insolvent, or approval of the petition in any such proceedings, and such order remains in effect for 60 days; or (v) a default in the payment of principal or interest when due which extends beyond any stated period of grace applicable thereto or an acceleration for any other reason of maturity of any indebtedness for borrowed money of the Company with an aggregate principal amount in excess of $2,000,000 and (vi) final unsatisfied judgments not covered by insurance aggregating in excess of $2,000,000, at any one time rendered against the Company and not stayed, bonded or discharged within 75 days. If an Event of Default occurs and is continuing (other than an Event of Default specified in clause (v) above with respect to the Company), then in every such case, unless the Principal Amount of the Promissory Note shall have already become due and payable, the Holder of the Promissory Note then outstanding, by notice in writing to the Company (an “Acceleration Notice”), may declare all principal and accrued and unpaid interest thereon to be due and payable immediately. If an Event of Default specif...
Events of Defaults and Remedies. (a) The term "Event of Default" as used in this Agreement shall mean (i) any default under and as defined in the Deed of Trust or in any other deed of trust, assignment of leases and rents and security agreement executed by Borrower to secure the Loan, and (ii) any default by Borrower in its obligations under this Agreement;
Events of Defaults and Remedies. Section 7.1 Events of Default 19 Section 7.2 Notice of Default 19 Section 7.3 Remedies on Default 20 Section 7.4 Attorneys’ Fees and Other Expenses 20 Section 7.5 Application of Moneys 20 Section 7.6 No Remedy Exclusive; Waiver; Notice 20
Events of Defaults and Remedies. Section 9.01. Events of Default Defined 32 Section 9.02. Remedies on Series 2014 Loan Agreement Event of Default 35 Section 9.03. No Remedy Exclusive 35 Section 9.04. Agreement to Pay Attorneys’ Fees and Expenses 36 Section 9.05. No Additional Waiver Implied by One Waiver 36 Section 10.01. Term of Agreement 36 Section 10.02. Notices 37 Section 10.03. Binding Effect 38 Section 10.04. Severability 38 Section 10.05. Amendments, Changes and Modifications 38 Section 10.06. Applicable Law and Venue 38 Section 10.07. Captions 38 Section 10.08. Limitation of Liability 38 Section 10.09. Colorado Governmental Immunity Act and Federal Torts Claims Act 39 Section 10.10. Compliance with MSA 39 Section 10.11. Compliance with Concession Agreement 39 Section 10.12. Amendment and Restatement 39 Section 10.13. Execution in Counterparts; Electronic Signatures 39 EXHIBIT A GLOSSARY OF TERMS EXHIBIT B FORM OF SERIES 2014 NOTE EXHIBIT C DEBT SERVICE SCHEDULE THIS AMENDED AND RESTATED LOAN AGREEMENT, dated [], 2020 (this “Series 2014 Loan Agreement”), is entered into by and between the COLORADO HIGH PERFORMANCE TRANSPORTATION ENTERPRISE, a government-owned business within the Colorado Department of Transportation and a division of the Colorado Department of Transportation, as Issuer (the “Issuer”), and PLENARY ROADS DENVER LLC, a limited liability company organized under the laws of the State of Colorado, as Concessionaire (the “Concessionaire”).
