Examples of Event of Default in a sentence
Unless an Event of Default shall occur, Borrower shall have the right at any time prior to the Maturity Date, upon thirty (30) days’ notice to the Holder, to prepay the Note by making a payment to Lender equal to 110% multiplied by the sum of (i) the outstanding Principal Xxxxxx, (ii) all accrued and unpaid interest, (iii) all unaccrued interest through the remainder of the Term that is guaranteed pursuant to Section 1.2 above, and (iv) any other amounts due under the Note.
If, at any time Borrower does not maintain the Reserved Amount it will be considered an Event of Default under Section 3.2 of the Note.
Failure to become DTC registered as provided herein shall be an Event of Default under Section 4.22 of this Note.
In addition to the Event of Default in Section 4.21, the Common Stock is otherwise not eligible for trading through the DTC’s Fast Automated Securities Transfer or Deposit/Withdrawal at Custodian programs, provided however that if the Borrower is not DTC registered on the Issue Date, the Borrower shall have 30 days from the Issue Date to become DTC registered.
The Company acknowledges and agrees that if the Company breaches any covenants set forth in this Section, in addition to any other remedies available to the Purchaser pursuant to this Agreement, it will be considered an Event of Default under Section 4.3 of the Note.