TERMINATION / EVENTS OF DEFAULT. 30.1 Without prejudice to any other rights which we may have, we may give written notice to you terminating this Agreement with immediate effect if any of the following events ("Events of Default") occur:
30.1.1 We have exercised our right to withhold or suspend all or any part of the Grant and/or required that all or any part of the Grant be repaid in accordance with clause 23 and/or clause 24;
30.1.2 We have exercised any right to withhold or suspend all or any part of any grant and/or have required that you repay all or any part of any grant pursuant to any other agreement made between us from time to time, or you have committed any event or omission of default which gives us the right to terminate, or we otherwise become entitled to terminate, any other agreement made between us from time to time;
30.1.3 You, if you are an individual (or if more than one individual then any one of you):
30.1.3.1 are the subject of a bankruptcy petition;
30.1.3.2 are the subject of an application for an interim order under Part VIII of the Insolvency Act 1986 (as amended); or
30.1.3.3 enter into any composition, moratorium or other arrangement with your creditors, whether or not in connection with any proceeding under the Insolvency Act 1986 (as amended).
30.1.4 If you are a body corporate (or if more than one body corporate, then any one of you) and:
30.1.4.1 a proposal for a voluntary arrangement is made under Part I of the Insolvency Act 1986 or your directors resolve to make such a proposal;
30.1.4.2 a petition for an administration order is presented under Part II of the Insolvency Act 1986 (as amended) or your directors resolve to present such a petition;
30.1.4.3 a receiver (including a receiver under section 101 of the Law of Property Act 1925) or manager or administrative receiver of your property (or part of it) is appointed;
30.1.4.4 a resolution for your voluntary winding up is passed under Part IV of the Insolvency Act 1986 (as amended) or a meeting of your creditors is called for the purpose of considering that it be wound up voluntarily (in either case, other than a voluntary winding up whilst solvent for the purposes of and followed by a solvent reconstruction or amalgamation);
30.1.4.5 a petition for your winding up is presented to the court under Part IV or by virtue of Part V of the Insolvency Act 1986 (as amended) or a resolution is passed that it be wound up by the court; or
30.1.4.6 an application is made under section 425 of the Companies Act 1985...
TERMINATION / EVENTS OF DEFAULT. Notwithstanding any provision in the Agreement, the occurrence of any of the following events shall constitute an Event of Default under this Agreement:
(1) Either Schroder or the Introducing Firm shall fail to perform or observe any term, covenant or condition to be performed or observed by it hereunder and such failure shall continue to be unremedied for a period of thirty (30) days after written notice from the non-defaulting party to the defaulting party specifying the failure and demand that the same be remedied; or
(2) any representation or warranty made by either Schroder or the Introducing Firm herein shall prove to be incorrect at any time in any material respect; or
(3) a receiver, liquidator or trustee of Schroder or the Introducing Firm or any of the property of either, is appointed by court order and such order remains in effect for more than 30 days; or Schroder or the Introducing Firm is adjudicated bankrupt or insolvent; or any of the property of either is sequestered by court order and such order remains in effect for more than 30 days; or a petition is filed against Schroder or the Introducing Firm under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution or liquidation law of any jurisdiction, whether now or hereafter in effect, and is not dismissed within 30 days after such filing; or
(4) Schroder or the Introducing Firm files a petition in voluntary bankruptcy or seeking relief under any provision of any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution or liquidation law of any jurisdiction, whether now or hereafter in effect, or consents to the filing of any petition against it under any such law; or
(5) Schroder or the Introducing Firm makes an assignment for the benefit of its creditors, or admits in writing its inability to pay its debts generally as they become due, or consents to the appointment of a receiver, trustee or liquidator of Schroder or the Introducing Firm or of all or any part of its property. Upon the occurrence of any such Event of Default, the nondefaulting party may, at its option, by written notice to the defaulting party declare that this Agreement shall be thereby terminated and such termination shall be effective as of the date such notice has been received by the defaulting party. Upon the termination of this Agreement, whether pursuant to this paragraph XI., paragraph XIII. hereof or otherwise, Schroder shall cause the Introduced Ac...
TERMINATION / EVENTS OF DEFAULT. Section 6.01. Termination of the Trust Fund.......................................................33 Section 6.02. Termination of Underlying Trusts....................................................34
TERMINATION / EVENTS OF DEFAULT. 8.1 In addition to all other remedies available to it in law or in equity, the Moose Jaw Downtown & Soccer/Field-House Facilities Inc. or THE BEVERAGE COMPANY, as the case may be (the “Non-defaulting Party”) may at its sole option immediately terminate this Agreement effective upon thirty (30) days notice to the other party (the “Defaulting Party”) in the event that:
8.1.1 the Defaulting Party is in breach of any material provision of this Agreement (it being agreed by the parties that a breach of a provision of this Agreement which may otherwise not be material may become material upon more than one breach of such provision) and such breach continues to exist after fifteen business days from the date of the giving by the Non-Defaulting Party of notice of that breach in writing to the Defaulting Party; or
81.2 the Defaulting Party has received from the Non-Defaulting Party three or more notices relating to an unremedied default under this Agreement during any consecutive twelve (12) month period, notwithstanding that such details may have been cured.
TERMINATION / EVENTS OF DEFAULT. This Agreement may be terminated by any party with respect to itself by written notice to the other parties for cause as set forth below. Any Management Services Company shall have cause to terminate this Agreement if Trading Cove shall have failed to pay to such Management Services Company the Management Services Fee as and when due as provided herein and such failure shall not have been cured within thirty (30) days thereafter. Trading Cove shall have cause to terminate this Agreement if the Management Services Companies shall have substantially failed to perform the services described in Paragraph 1 hereof and such failure shall not have been cured within thirty (30) days thereafter. Any party hereto shall have cause to terminate this Agreement in the event of:
(a) The filing, whether voluntary or involuntary, of a petition in bankruptcy against any other party hereto;
(b) An assignment by any other party hereto for the benefit of its creditors;
(c) Dissolution or insolvency of any other party hereto;
(d) The assignment, or the attempted assignment, by any other party hereto of its rights and/or obligations hereunder in violation of Paragraph 8 hereof; or
(e) Fraud, gross negligence or other willful misconduct of any other party hereto in connection with this Agreement or the obligations of such party hereunder.
TERMINATION / EVENTS OF DEFAULT. (Clause 10)
6.1 In Clause 10.1.2, insert the words “or repeated” at the end of the clause.
6.2 In Clause 10.1.5(i), insert the words “and where no grace period is specified, the applicable grace period shall be 3 Business Days” before the semi-colon.
6.3 Clause 10.1.6 (Material Adverse Change) shall not apply.
6.4 The following additional Event of Default shall be included as clause 10.1.7. “
TERMINATION / EVENTS OF DEFAULT. This Agreement may be terminated for cause by either Party at any time if the non-terminating Party breaches any material term of this Agreement (any such breach, an “Event of Default”), and fails to cure such breach (if susceptible to cure) within five (5) days, or according to the timelines prescribed in this Section.
TERMINATION / EVENTS OF DEFAULT. 1. The Principal Borrower and the Bank may at any time terminate (opzeggen) the Facility by written notice. None of the Borrowers may continue to use the Facility and all amounts owed by any Borrower under or in connection with outstanding current account balances in respect of principal, interest, fees and costs shall become immediately due and payable and each Borrower shall immediately pay the Bank all amounts then owed to it.
2. The Bank may terminate this Facility with immediate effect by written notice to the Principal Borrower if and when in the commercially reasonable opinion of the Bank any of the following events occurs:
a. the Facility or a part thereof is exceeded and the excess is not paid off within 5 (five) Business Days of the relevant Borrower having been requested in writing to do so;
b. any amount due and payable by any Borrower to the Bank under or in connection with the Facility is not received by the Bank within 5 (five) Business Days of a written request to that effect;
c. any Borrower within the Group and any member of Group 2 defaults in the timely and/or due performance of any other obligation under or in connection with this Agreement or any obligation under or in connection with any other financing agreement entered into with the Bank or any other lenders, irrespective of the name given to such agreement;
d. any of the following events occurs in respect of any Borrower, or one or more companies in the Group: − a pre-judgment seizure order (conservatoir beslag) is granted in respect of a material part of the assets of a Borrower and the order is not lifted (opgeheven) or nullified (nietig verklaard) within 30 (thirty) days of the date of the order, or an analogous event occurs under any relevant foreign law; − any approval, consent, exemption, licence or permit required for the conduct of its business is lacking, lapses or is revoked, or if a condition attached to any of these is violated;
e. any Security is not anymore enforceable in accordance with the terms and conditions of the relevant security agreement and/or there is a substantial decrease in value or loss of any asset which is subject of any Security; f. one or more of the representations made in Section 19 below proves to be incorrect in any material respect on the date made;
g. at year-end the Principal Borrower does not, meet the ratios referred to in Section 18 below;
TERMINATION / EVENTS OF DEFAULT. Notwithstanding any other provision contained herein and subject to the provisions of this Section, the County may terminate this Agreement upon the event of default by the Corporation (“Event of Default”), which shall include but not be limited to a material breach of this Agreement or the Corporation’s commission of a gross act of malfeasance or omission, including the failure of the Corporation to perform the duties hereunder in compliance with all applicable laws, including wage and hour laws, anti-discrimination laws, the failure of the Corporation to comply with leave laws; and/or the failure of the Corporation to comply with laws pertaining to workplace safety. Prior to terminating this Agreement due to an event of default, the County must give the Corporation written notice of the event of default giving rise to the right of termination and of the date on which this Agreement will be terminated unless the event of default is cured. The Corporation will have a period of thirty days from the date of the delivery of the notice of the event of default to the Chief Executive Officer or a member of the Board of Directors of the Corporation to cure the event of default to the satisfaction of the County. The date of termination shall be not sooner than 120 days from the date of the notice. Provided, however, if the event of default involves the intentional misappropriation of funds by an employee of the Corporation, or other illegal conduct, the date of termination may be no sooner than 30 days from the date of the notice. In the event of a termination, the Corporation will account for and refund to the County within Sixty (60) days of termination, any unexpended funds that have been paid to the Corporation pursuant to this agreement, along with certified financial audit outlining the Corporations’ use of County funding provided pursuant to this Agreement.
TERMINATION / EVENTS OF DEFAULT. 1. If the availability of the Facility is not extended by Rabobank International after expiration of the Availability period the Borrowers shall no longer be entitled to make use of the Facility, all amounts outstanding under this Facility Agreement on account of and/or in connection with outstanding current account balances of principal together with interest, default interest. fees and costs shall become immediately due and payable after this period by the more lapse of time and shall be (re)paid promptly to Rabobank International In such an event. the Borrowers shall also he under an obligation to ensure that Rabobank International is released from its obligations ensuing from the outstanding guarantees and/or the other obligations assumed by Rabobank International under the terms of Article 4 at the Borrowers' request. Any outstanding Advances shall become due and payable on the agreed due dates thereof. however not later than on the Termination Date.
2. If any of the following events occur, Rabobank International shall be entitled, upon written notification to the Borrowers, to terminate the Facility with immediate effect: (a) if the Facility and/or parts of the Facility is or are exceeded and the deficit is not remedied within 14 days after the Borrowers having been requested in writing to do so; - (b) if Rabobank International has not received any amount due and payable by the Borrowers to Rabobank International on account of or in connection with this ' Facility Agreement within 14 days of a written request to that effect;