Further Events of Default. Lender’s obligation to lend hereunder shall terminate and all Liabilities shall become immediately due and payable without notice, presentation or demand of any kind, all of which are hereby waived upon the occurrence of any of the following events, each of which shall constitute an Event of Default:
(a) Borrower fails to comply with its obligations under Section 5.1 of the Stock Purchase Agreement, dated as of the date hereof, between Borrower and Lender;
(b) Borrower becomes insolvent or generally fails to pay, or admits in writing its inability to pay, its debts when due;
(c) Borrower makes an assignment for the benefit of creditors, commences a case in bankruptcy, or commences any proceeding under any other insolvency law;
(d) A case in bankruptcy or any proceeding under any other insolvency law is commenced against Borrower and the case or proceeding is not dismissed within sixty (60) days; or
(e) A trustee, receiver or agent is appointed or authorized to take charge of substantially all of the property of Borrower for the purpose of enforcing a lien against such property or for the purpose of general administration of such property for the benefit of creditors.
Further Events of Default. (i) The Borrower(s) misusing the Loan or any part thereof, or using the Loan or any part thereof for any purpose other than for which the Loan has been sanctioned by FICCL;
(ii) Any consent, authorization, approval or the like, or license of or registration with or declaration to governmental or public or statutory or regulatory authority, registration with or declaration to governmental or public bodies or authorities required to be made by the Borrower( s ) in connection with the execution, delivery, validity, enforceability or admissibility in evidence of this Agreement or the performance by the Borrower( s) of its obligations hereunder and/or in respect of the Loan is modified in a manner unacceptable to FICCL or is not granted or revoked or is terminated or expires and is not renewed or otherwise ceases to be in full force and effect;
(iii) Whenever in the absolute discretion of FICCL there is a determination of the likelihood of the due money not being paid;
Further Events of Default. The Borrower misusing the Loan or any part thereof, or using the Loan or any part thereof for any purpose other than for which the Loan has been sanctioned by the Financier;
Further Events of Default. (i) The Borrower(s) misusing the Loan or any part thereof, or using the Loan or any part thereof for any purpose other than for which the Loan has been sanctioned by FICCL;
(ii) Any consent, authorization, approval or the like, or license of or registration with or declaration to governmental or public or statutory or regulatory authority, registration with or declaration to governmental or public bodies or authorities required to be made by the Borrower(s) in connection with the execution, delivery, validity, enforceability or admissibility in evidence of this Agreement or the performance by the Borrower(s) of its obligations hereunder and/or in respect of the Loan is modified in a manner unacceptable to FICCL or is not granted or revoked or is terminated or expires and is not renewed or otherwise ceases to be in full force and effect;
(iii) Whenever in the absolute discretion of FICCL there is a determination of the likelihood of the amounts due not being paid;
(iv) The Borrower(s) creating any charge, lien, encumbrance and/or transferring, selling or disposing of the Hypothecated Assets without the previous consent of FICCL in writing;
(v) Any Security being confiscated, attached or taken into custody by any authority or becoming the subject of any legal proceedings;
(vi) The Borrower(s) fail(s) to produce the asset for inspection or verification or valuation by FICCL or its officers, auditors, technical experts, management consultant, valuers or any other person authorized for the said purpose by FICCL;
Further Events of Default. (i) The Borrower(s) misusing the Loan or any part thereof, or using the Loan or any part thereof for any purpose other than for which the Loan has been sanctioned by SMFG India Credit;
(ii) Any consent, authorization, approval or the like, or license of or registration with or declaration to governmental or public or statutory or regulatory authority, registration with or declaration to governmental or public bodies or authorities required to be made by the Borrower(s) in connection with the execution, delivery, validity, enforceability or admissibility in evidence of this Agreement or the performance by the Borrower(s) of its obligations hereunder and/or in respect of the Loan is modified in a manner unacceptable to SMFG India Credit or is not granted or revoked or is terminated or expires and is not renewed or otherwise ceases to be in full force and effect;
(iii) Whenever in the absolute discretion of SMFG India Credit there is a determination of the likelihood of the amounts due not being paid;
(iv) The Borrower(s) creating any charge, lien, encumbrance and/or transferring, selling or disposing of the Hypothecated Assets without the previous consent of SMFG India Credit in writing;
(v) Any Security being confiscated, attached or taken into custody by any authority or becoming the subject of any legal proceedings;
(vi) The Borrower(s) fail(s) to produce the asset for inspection or verification or valuation by SMFG India Credit or its officers, auditors, technical experts, management consultant, valuers or any other person authorized for the said purpose by SMFG India Credit;
Further Events of Default. In addition to the Events of Default provided in Clause 10 - Events of Default of the Master Agreement, the following are deemed Events of Default: ………………………………………………………………………………………………………………… ………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………
Further Events of Default. In addition to the events triggering a Default described above, the following events shall trigger a Default if such events occur during the Renovation Period or prior to Seller’s confirmation that the Property is safe and habitable and without the express written permission of Seller:
a. Purchaser occupies the Property or allows a third party to occupy the Property;
b. Purchaser sells or leases the Property, in whole or in part, to a third party;
c. Purchaser further encumbers the Property with a mortgage, lien, or other interest, whether voluntary or involuntary;
d. Purchaser is found to have violated any local, state, or federal laws or regulations in the ownership, renovation, or occupancy of the Property;
e. Purchaser fails to make property tax payments on the Property when due; or
f. Purchaser abandons the Property, or is incarcerated, adjudicated incompetent, or deceased.
Further Events of Default. It shall constitute an immediate Event of Default if any acknowledgement, covenant or other agreement made herein is untrue or incorrect in any respect as of the date when made, deemed made or required to be satisfied, as applicable.
Further Events of Default. The failure of Borrower to satisfy any of its obligations under this Amendment shall constitute an Event of Default.
Further Events of Default. The following shall be additional Events of Default under the Agreement: (a) Lessee, any of its Subsidiaries, Parent, or any of its Subsidiaries, defaults under any (i) agreement with Lessor or Cisco Systems, Inc., (ii) material agreement with any third party, or (ii) non-material agreement with any third party where the amount in default under such agreement is more than Ten Thousand Dollars ($10,000) or, if the third party to such agreement has accelerated based upon such default, the amount owing under such agreement exceeds Twenty-Thousand ($20,000), and in each case such default continues after expiration of any applicable grace period. (b) An "Event of Default" occurs under any agreement with Toronto Dominion; or (c) There occurs any Change of Control. Notwithstanding anything to the contrary in this Appendix, the Agreement or any of the other Lease documents (i) failure of Lessee to meet the quarterly Minimum Unrestricted Cash Balance covenant set forth in Section 5(d)(ix) shall not constitute an Event of Default; provided, that failure to meet such covenant in any one Fiscal Quarter shall mean that Lessee shall not have availability under Tranches 2, 3 and 4, and (ii) Lessor shall have the right to cease leasing Equipment to Lessee if Lessee fails to meet or satisfy, or breaches, any of the financial convents set forth in Section 5(d) of this Appendix.
