Monetary Event of Default. If a Monetary Event of Default has occurred and is continuing, all Distributions will be paid to Lender and whether held in the Account or not, all Distributions and their proceeds will be applied to the Secured Obligations.
Monetary Event of Default. The term “Monetary Event of Default” shall mean any failure to make a timely monetary payment (taking into account any cure periods) to Lender, provided for under the Term Loan Agreement or the Note or any Term Loan Document (whether or not notice of such missed payment is required under the Term Loan Agreement).
Monetary Event of Default. Monetary Event of Default shall have the meaning given to such term in Section 9.1 of this Contract.
Monetary Event of Default. If any of the following events shall occur, it shall constitute a Monetary Event of Default:
Monetary Event of Default. Any of the following credit events shall constitute a "MONETARY EVENT OF DEFAULT": (a) Borrower shall fail to pay any principal or interest when due and payable, whether at the due date thereof or at a date fixed for prepayment thereof; (b) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, reorganization or other relief in respect of the Parent, the Borrower, a Co-Borrower or any pledgor of Collateral or its debts, or of a substantial part of its assets, under any federal, state, regional or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Parent, the Borrower or any pledgor of Collateral or for a substantial part of its assets; and, in any such case under either clause (i) or (ii), such proceeding or petition shall continue undismissed for 120 days or an order or decree approving or ordering any of the foregoing shall be entered; or (c) the Parent, the Borrower, a Co-Borrower or any pledgor of Collateral shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in clause (b) of this Article, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Parent, the Borrower, a Co-Borrower or any pledgor of Collateral or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any action for the purpose of effecting any of the foregoing.
Monetary Event of Default. If the Lender shall, within thirty (30) days after receiving the Lender Notice, send to Grantor a notice setting forth the Lender’s desire to thereupon cure such Default(s) set out in the Lender Notice, accompanied by the payment of any monies (if any) needed to cure such outstanding Default(s) set out in the Lender Notice, , then Grantor shall not have any right to pursue any action at law or equity on account of such Default. With respect to any Default involving Xxxxxxx’s failure to make any payment of money required to be paid by Grantee hereunder, Xxxxxxx agrees to accept payment as a cure thereof by the Lender with the same force and effect as though cured by Xxxxxxx.
