Payment Default or Acceleration Sample Clauses

Payment Default or Acceleration. Except under circumstances when the terms of Section 2.05 of this Agreement are applicable, if (a) a Payment Default or Senior Indebtedness Acceleration shall have occurred and be continuing and (b) the Subordinated Lenders or the Subordinated Indebtedness Representative shall have received a Payment Default Notice, then neither the Borrower nor any Subsidiary may make, and no Subordinated Lender shall accept, receive or collect, any direct or indirect payment or distribution of any kind or character (in cash, securities, other Property, by setoff, or otherwise other than Reorganization Securities) of any properties or assets of the Borrower or any Subsidiary on account of the Subordinated Obligations during the Payment Blockage Period; provided, however, that in the case of any payment on or in respect of any Subordinated Obligation that would (in the absence of any such Payment Default Notice) have been due and payable on any date (a "Scheduled Payment Date") during such Payment Blockage Period pursuant to the terms of the Subordinated Notes as in effect on the date hereof or as amended consistent with the provisions of Section 2.12 of this Agreement, the provisions of this Section 2.02 shall not prevent the making and acceptance of such payment (a "Scheduled Payment"), together with any additional default interest as is due on the Subordinated Notes, on or after the date immediately following the termination of such Payment Blockage Period. In the event that, notwithstanding the foregoing, either the Borrower or any Subsidiary shall make any payment or distribution to any Subordinated Lender prohibited by the foregoing provisions of this Section 2.02, then and in such event such payment or distribution shall be held in trust for the benefit of and immediately shall be paid over to the holders of the Senior Indebtedness or the Senior Indebtedness Representative for application against the Senior Indebtedness remaining unpaid until such Senior Indebtedness is paid in full in cash. Any Payment Default Notice shall be deemed received by the Subordinated Lenders upon the date of actual receipt by the Subordinated Lenders or the Subordinated Indebtedness Representative of such Payment Default Notice in writing.
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Payment Default or Acceleration. Except under circumstances when the terms of Section 2.01 or Section 2.05 of this Agreement are applicable, if (a) a Payment Default or Senior Indebtedness Acceleration shall have occurred and be continuing and (b) the Term Lenders or the Subordinated Administrative Agent or other representative shall have received a Payment Default Notice, then neither the Borrower nor any Subsidiary may make, and no Term Lender shall accept,
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Payment Default or Acceleration. Section 2.03 Non-Payment Default.
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Related to Payment Default or Acceleration

  • Acceleration Events Each of the following events shall constitute an “Acceleration Event”:

  • Default; Acceleration (a) Any of the following shall constitute an “Event of Default” under this Note:

  • Additional Event of Default The following will constitute an additional Event of Default with respect to Party B: "NOTE ACCELERATION NOTICE. A Note Acceleration Notice is served on Party B in relation to the Relevant Notes."

  • Payment Default Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day grace period shall not apply to payments due on the Maturity Date or the date of acceleration pursuant to Section 9.1 (a) hereof). During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);

  • Other Payment Default The Borrower shall default in the payment when and as due (whether at maturity, by reason of acceleration or otherwise) of interest on any Loan or Reimbursement Obligation or the payment of any other Obligation, and such default shall continue for a period of three (3) Business Days.

  • Events of Default Acceleration Etc 78 §12.1 Events of Default and Acceleration. 78 §12.2 Limitation of Cure Periods. 81 §12.3 [RESERVED]. 81 §12.4 Remedies. 81 §12.5 Distribution of Collateral Proceeds. 81 §13. SETOFF 82 §13.1 Setoff. 82 §13.2 Sharing of Payments by Lenders. 83 §14. THE AGENT 84 §14.1 Authorization. 84 §14.2 Employees and Agents. 84 §14.3 No Liability. 84 §14.4 No Representations. 85 §14.5 Payments. 86 §14.6 Holders of Notes. 88 §14.7 Indemnity. 88 §14.8 Agent as Lender. 89 §14.9 Resignation. 89 §14.10 Duties in the Case of Enforcement. 90 §14.11 Request for Agent Action. 90 §14.12 Removal of Agent. 90 §14.13 Bankruptcy. 91 §15. EXPENSES 91 §16. INDEMNIFICATION 92 §17. SURVIVAL OF COVENANTS, ETC. 93 §18. ASSIGNMENT AND PARTICIPATION 93 §18.1 Conditions to Assignment by Lenders. 93 §18.2 Register. 95 §18.3 New Notes. 95 §18.4 Participations. 96 §18.5 Pledge by Lender. 96 §18.6 No Assignment by Borrower. 96 §18.7 Cooperation; Disclosure. 96 §18.8 Mandatory Assignment. 97 §18.9 Co-Agents. 98 §18.10 Treatment of Certain Information; Confidentiality. 98 §19. NOTICES 98 §20. RELATIONSHIP 000 §00. GOVERNING LAW; CONSENT TO JURISDICTION AND SERVICE 100 §22. HEADINGS 000 §00. COUNTERPARTS; INTEGRATION; EFFECTIVENESS; ELECTRONIC COMPOSITIONS 101 §24. ENTIRE AGREEMENT, ETC. 000 §00. WAIVER OF JURY TRIAL AND CERTAIN DAMAGE CLAIMS 000 §00. DEALINGS WITH THE BORROWER 103 §27. CONSENTS, AMENDMENTS, WAIVERS, ETC. 000 §00. SEVERABILITY 105 §29. NO UNWRITTEN AGREEMENTS 000 §00. ACKNOWLEDGMENT OF INDEMNITY OBLIGATIONS 000 §00. REPLACEMENT OF NOTES 000 §00. TIME IS OF THE ESSENCE 000 §00. RIGHTS OF THIRD PARTIES 000 §00. GUARANTY 106 §34.1 The Guaranty. 106 §34.2 Obligations Unconditional. 106 §34.3 Reinstatement. 107 §34.4 Certain Waivers. 108 §34.5 Remedies. 108 §34.6 Rights of Contribution. 109 §34.7 Guaranty of Payment; Continuing Guaranty. 109 §34.8 Special Provisions Applicable to Guarantors. 109 EXHIBITS AND SCHEDULES Exhibit A Form of Revolving Note Exhibit A-1 Form of Swing Line Note Exhibit B Form of Compliance Certificate Exhibit C Form of Assignment and Assumption Agreement Exhibit D Form of Request for Revolving Loan Exhibit D-1 Form of Request for Swing Line Loan Exhibit E Form of Borrowing Base Certificate Exhibit F Patriot Act and OFAC Transferee and Assignee Identifying Information Form Exhibit G Joinder Agreement (Guarantor) Exhibit H-1 Form of U.S. Tax Compliance Certificate Exhibit H-2 Form of U.S. Tax Compliance Certificate Exhibit H-3 Form of U.S. Tax Compliance Certificate Exhibit H-4 Form of U.S. Tax Compliance Certificate Schedule 1.1 Lenders and Commitments Schedule 6.1(b) Subsidiaries Schedule 6.7 Litigation Schedule 6.10 Tax Audits Schedule 6.15 Transactions with Affiliates Schedule 6.20(f) Unresolved Real Estate Claims or Disputes Schedule 6.20(g) Material Real Estate Agreements REVOLVING CREDIT AGREEMENT THIS REVOLVING CREDIT AGREEMENT (this "Agreement") is made the 26th day of September, 2014, by and among CORENERGY INFRASTRUCTURE TRUST, INC., a Maryland corporation, as borrower ("Borrower"), having its principal place of business at 0000 Xxxxxx, Xxxxx 0000, Xxxxxx Xxxx, Xxxxxxxx 00000, each of the parties now or hereafter signatory hereto as guarantors (collectively "Guarantors"), REGIONS BANK, a national banking association ("Regions"), with the other lending institutions that are or may become parties hereto pursuant to §18 as lenders ("Lenders"), REGIONS BANK, as administrative agent ("Agent") for itself and the other Lenders, REGIONS BANK, as Swing Line Lender, and REGIONS BANK, as LC Issuer.

  • Events of Default; Acceleration If any of the following events ("Events of Default") shall occur:

  • No Payment Default Except for payment delinquencies that have been continuing for a period of not more than 29 days, no payment default under the terms of any Receivable exists as of the Cutoff Date.

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