Common use of Right to demand repayment Clause in Contracts

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 following events occur: (i) any Obligor and/or any other Group Company 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;

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 shall repay all or part of the Loan Outstanding (as requested by the Bank)) forthwith, together with accrued interest, any Prepayment Fee interest and all other accrued or outstanding amounts under this Contract, if: upon written demand being made by the Bank in accordance with the following provisions. 10.1. A Immediate demand‌ The Bank may make such demand immediately without prior notice or any judicial or extra judicial step: (a) if the Borrower does not pay on the due date 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 unless: (i) its failure to pay is caused by an administrative or technical error or a Disruption Event and Event; and (ii) payment is made within 3 (three) Business Days of its due date; ; (b) if any information or document given to the Bank by or on behalf of any Obligor the Borrower or any representation, warranty or statement made or deemed to be made by the Borrower in or in, pursuant to or for the purposes of entering into this Contract or in connection with the negotiation or performance of this Contract is or proves to have been incorrect, incomplete or misleading in any material respect; ; (c) if, following any default of any Obligor the Borrower in relation to any loan, or any obligation arising out of any financial transaction, other than the Loan, : (i) such Obligor the Borrower 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 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 following events occur: (i) any Obligor and/or any other Group Company 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;

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 shall repay all or part of the Loan Outstanding (as requested by the Bank)) forthwith, together with accrued interest, any Prepayment Fee interest and all other accrued or outstanding amounts under this Contract, ifupon written demand being made by the Bank in accordance with the following provisions. Immediate demand The Bank may make such demand immediately: (a) if the Borrower does not pay on the due date 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) unless: its failure to pay is caused by an administrative or technical error or a Disruption Event Event; and (ii) payment is made within 3 (three) Business Days of its due date; (b) if any information or document given to the Bank by or on behalf of the Borroweror any Obligor or any representation, warranty representation or statement made or deemed to be made by the Borrower in this Contract or pursuant to in connection with the negotiation of this Contract is or proves to have been incorrect, incomplete or misleading in any material respect; (c) if, following any default of any Obligor the Borrower in relation to any loan, or any obligation arising out of any financial transactiontransaction or funding instrument, other than the Loan, (i) such Obligor the Borrower 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 if the Borrower 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 moratoriumor, 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 without prior written notice to the suspension of paymentsBank, 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 following events occur: (i) any Obligor and/or any other Group Company 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; if the Borrower defaults in the performance of any of its obligation in respect of any other loan, financial instrument or grant made available to it from the resources of the Bank or the European Union, or to the Bank in connection with the Project; if any distress, execution, sequestration or other process is levied or enforced upon the assets of the Borrower or any assets forming part of the Project and is not discharged or stayed within 14 (fourteen) days;