Right to demand repayment. The Borrower shall repay all or part of the Loan (as requested by the Bank) forthwith, together with accrued interest and all other accrued or outstanding amounts under this Contract, upon written demand being made by the Bank in accordance with the following provisions.
Right to demand repayment. The Bank may demand (in writing) without prior notice (mise en demeure préalable) or any judicial or extra judicial step immediate repayment by the Borrower of all or part of the Loan Outstanding (as requested by the Bank), together with accrued interest, any Prepayment Fee and all other accrued or outstanding amounts under this Contract, if: (a) any amount payable pursuant to this Contract is not paid on the due date at the place and in the currency in which it is expressed to be payable, unless (i) its failure to pay is caused by an administrative or technical error or a Disruption Event and (ii) payment is made within 3 (three) Business Days of its due date; (b) any information or document given to the Bank by or on behalf of any Obligor or any representation, warranty or statement made or deemed to be made by the Borrower in or pursuant to this Contract is or proves to have been incorrect, incomplete or misleading in any material respect; (c) following any default of any Obligor in relation to any loan, or any obligation arising out of any financial transaction, other than the Loan, (i) such Obligor is required or is capable of being required or will, following expiry of any applicable contractual grace period, be required or be capable of being required to prepay, discharge, close out or terminate ahead of maturity such other loan or obligation; or (ii) any financial commitment for such other loan or obligation is cancelled or suspended; where such loan or financial transaction is for at least EUR 100,000. (d) any Obligor is unable to pay its debts as they fall due, or suspends its debts, or makes or seeks to make a composition with its creditors including a moratorium, or commences negotiations with one or more of its creditors with a view to rescheduling any of its financial indebtedness; (e) any corporate action, legal proceedings or other procedure or step is taken in relation to the suspension of payments, a moratorium of any indebtedness, dissolution, administration or reorganisation (by way of voluntary arrangement, scheme of arrangement or otherwise) or an order is made or an effective resolution is passed for the winding up of any Obligor, or if any Obligor takes steps towards a substantial reduction in its capital, is declared insolvent or ceases or resolves to cease to carry on the whole or any substantial part of its business or activities or any situation similar to any of the above occurs under any applicable law; (f) if any of the follo...
Right to demand repayment. (a) If any Event of Default exists, the Holder may, in addition to the exercise of any right, power or remedy permitted by law, declare (by written notice or notices to the Company) the entire principal sum then outstanding to be due and payable, and such Debenture shall thereupon become forthwith due and payable in cash without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Company. If this Debenture is not paid when due, the Company agrees to pay all costs of collection, including reasonable attorneys’ fees.
(b) A delay or omission by the Holder in exercising any right or remedy arising upon an Event of Default shall not impair such right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are cumulative to the extent permitted by law.
Right to demand repayment. The Bank may demand (in writing) without prior notice or any judicial or extra judicial step immediate repayment by the Borrower of all or part of the Loan Outstanding (as requested by the Bank), together with accrued interest, any Profit Participation Payment, any Prepayment Fee, Break Costs (if any) and all other accrued or outstanding amounts under this Contract, if:
(a) any amount payable pursuant to any Finance Document is not paid on the due date at the place and in the currency in which it is expressed to be payable, unless (i) its failure to pay is caused by an administrative or technical error or a Disruption Event and (ii) payment is made within 3 (three) Business Days of its due date;
(b) any information or document given to the Bank by or on behalf of any Obligor or any representation, warranty or statement made or deemed to be made by any Obligor in any Finance Document, pursuant to any Finance Document or for the purposes of entering into any Finance Document is or proves to have been incorrect, incomplete or misleading in any material respect;
(c) following any default of any Obligor in relation to any loan, or any obligation arising out of any financial transaction, other than the Loan,
(i) such Obligor is required or is capable of being required or will, following expiry of any applicable contractual grace period, be required or be capable of being required to prepay, discharge, close out or terminate ahead of maturity such other loan or obligation; and
(ii) any financial commitment for such other loan or obligation is cancelled or suspended; provided such default relates to an amount of not less than EUR 50,000 (fifty thousand Euros).
Right to demand repayment. The Borrower shall repay all or part of the Term Loan (as requested by Gurnet) forthwith, together with accrued return under Section 1.03 and all other accrued or outstanding amounts under this Agreement including the Premium, upon written demand being made by Gurnet if any of the following events occur.
Right to demand repayment. 30 9.2 OTHER RIGHTS AT LAW ...................................................................................................... 32 9.3 PREPAYMENT FEE............................................................................................................... 32 9.4 NON-WAIVER ........................................................................................................................ 32 ARTICLE 10 ........................................................................................................................................ 32 10.1 GOVERNING LAW................................................................................................................. 32 10.2 JURISDICTION ...................................................................................................................... 32 10.3
Right to demand repayment. The Bank may demand (in writing) without prior notice or any judicial or extra judicial step immediate repayment by the Borrower of all or part of the Loan Outstanding (as requested by the Bank), together with accrued interest, any Prepayment Fee and all other accrued or outstanding amounts under this Contract, if:
(a) any amount payable pursuant to any Finance Document is not paid on the due date at the place and in the currency in which it is expressed to be payable, unless (i) its failure to pay is caused by an administrative or technical error or a Disruption Event and (ii) payment is made within [****] Business Days of its due date;
(b) any information or document given to the Bank by or on behalf of any Obligor or any representation, warranty or statement made or deemed to be made by the Borrower in any Finance Document, pursuant to any Finance Document or for the purposes of entering into any Finance Document is or proves to have been incorrect, incomplete or misleading in any material respect;
(c) following any default of any Obligor in relation to any loan, or any obligation arising out of any financial transaction, other than the Loan,
(i) such Obligor is required or is capable of being required or will, following expiry of any applicable contractual grace period, be required or be capable of being required to prepay, discharge, close out or terminate ahead of maturity such other loan or obligation; or
(ii) any financial commitment for such other loan or obligation is cancelled or suspended; and
(iii) such other loans or obligations or commitments falling under sub-paragraphs (i) and/or (ii) above are in an aggregate principal amount in excess of EUR 100,000 euro or its equivalent in any other currency or currencies;
Right to demand repayment. 44 10.01A Immediate demand...................................................................................................................44 10.01B Demand after notice to remedy................................................................................................45 10.02
Right to demand repayment. The Bank may demand (in writing) without prior notice (mise en demeure préalable) or any judicial or extra judicial step immediate repayment by the Borrower of all or part of the Loan Outstanding (as requested by the Bank), together with accrued interest, any Prepayment Fee and all other accrued or outstanding amounts under this Contract, if:
Right to demand repayment. THE BORROWERS shall prepay the Loan or any part thereof together with accrued interest forthwith upon demand being made therefore by THE BANK:
A. immediately:
(a) if any information or document given to THE BANK by either of THE BORROWERS in connection with the negotiation of this Contract or during its lifetime proves to have been incorrect in any material particular;
(b) if THE BORROWERS fail on the due date to repay any part of the Loan, to pay interest thereon or to make any other payment to THE BANK as herein provided;
(c) if, following default, either of THE BORROWERS is required to make any prepayment in excess of EUR 10 million in respect of any loan or other financial indebtedness;
(d) if either of THE BORROWERS petitions for its bankruptcy, declares to stop paying, seeks a moratorium on payment, is the subject of a petition for bankruptcy by a third party, is declared bankrupt or makes or seeks to make a composition with its creditors without being declared bankrupt;
(e) if an order is made or an effective resolution is passed for the winding up of either of THE BORROWERS or if either ceases or resolves to cease to carry on the whole or any substantial part of its business or activities, save in the course of a merger or reconstruction previously consented to by THE BANK;
(f) if an encumbrancer takes possession of, or a receiver, liquidator or administrator is appointed over, a substantial part of the assets of either of THE BORROWERS or if any distress, execution, sequestration or other process is levied or enforced upon or sued out against any of their property and is not discharged or stayed within fourteen days;
(g) if any event occurs or step is taken which, in the opinion of THE BANK is likely to jeopardise the servicing of the Loan or to adversely affect any security therefore; or
B. upon expiry of a reasonable period of time specified in a notice served by THE BANK on THE BORROWERS, without the matter being remedied to the satisfaction of THE BANK:
(a) if either of THE BORROWERS fail to comply with any obligation under this Contract other than one mentioned in Article 10.01 indents (A)(b); or
(b) if any fact or circumstance stated in the Recitals, alters or ceases to exist and if this either prejudices the interests of THE BANK as lender to THE BORROWERS or adversely affects the operation of the Project.
