Events of Default and Their Effect. 23.1 Each of the following will constitute an "Event of Default":
Events of Default and Their Effect. If any of the following events (each an “Event of Default”) shall occur and be continuing:
Events of Default and Their Effect. Section 7.1 Each of the following shall constitute an Event of Default under this Agreement:
Events of Default and Their Effect. 23.1 Each of the following will constitute an "Event of Default":
(a) you fail to satisfy any material provision of this Agreement and such failure continues for more than 3 Business Days after we have given you the relevant notice of non- performance;
(b) you fail to perform a material obligation under this Agreement and such failure is reasonably likely to expose us to the risk of a loss such that it is not possible for us, acting reasonably, to give you notice of non-performance;
(c) you fail to provide us with any information or notice required pursuant to this Agreement or provide false, incomplete or misleading information;
(d) you die or become of unsound mind;
(e) we consider it reasonably necessary to prevent what we reasonably consider to be or might be a violation of any Applicable Law (including but not limited to, Market Abuse, gaming the system, or Scalping);
(f) you withdraw your consent to conduct business electronically at any time by providing notice in accordance with this Agreement;
(g) you enter into liquidation or bankruptcy, whether compulsorily or voluntarily, or a procedure is commenced against you seeking or proposing liquidation or bankruptcy, or you are generally unable to pay your debts as they become due (or you admit so in writing);
(h) you become subject to an administration order or have a receiver or similar appointment or order are made or proceedings commenced in respect of any of your assets in consequence of debt;
(i) we reasonably believe you have acted in an unfair or abusive manner, for example, but not limited to, using any ultra-high speed trading; automated or mass data entry system; or Scalping with or on the Trading Platform;
(j) you make any misrepresentation or breach of warranty under this Agreement including but not limited to any misrepresentation or breach of warranty under paragraph 27.1; or
(k) we have reason to believe that any of the foregoing is likely to occur imminently or any other circumstances where we reasonably believe that it is necessary ordesirable to take any action set out in paragraph 23.2.
23.2 If an Event of Default occurs, unless otherwise prescribed by Applicable Law, we may, in our absolute discretion, at any time and without prior notice, take one or more of the following steps:
(a) close out all or any of your Open Positions at current quotes;
(b) debit (or credit) your Account for amounts which are due to us (or you);
(c) close your Account, including any or all landing or tradin...
Events of Default and Their Effect. 44 Section 7.1 Events of Default .....................................................44 Section 7.2 Effect of Event of Default ............................................47 Section 7.3 LC Collateral Account. ................................................48 ARTICLE VIII CONDITIONS..............................................................48 Section 8.1 Conditions to Occurrence of the Effective Date ........................48 Section 8.2 Conditions to All Credit Extensions ...................................50
Events of Default and Their Effect. 47 SECTION 7.1
Events of Default and Their Effect. 52 13.1 Events of Default. 52 13.1.1 Non-Payment of the Loans, etc. 52 13.1.2 Non-Payment of Other Debt. 52 13.1.3 Other Material Obligations. 52 13.1.4 Bankruptcy, Insolvency, etc. 52 13.1.5 Non-Compliance with Loan Documents. 52 13.1.6 Representations; Warranties. 53 13.1.7 Pension Plans. 53 13.1.8 Judgments. 53
Events of Default and Their Effect. 57 SECTION 11.1 Events of Default . . . . . . . . . . . . 57 SECTION 11.1.1 Non-Payment of Loan . . . . . . . . . . . 57 SECTION 11.1.2 Non-Payment of Fees, etc. . . . . . . . . 57 SECTION 11.1.3 Non-Payment of Other Indebtedness . . . . 57 SECTION 11.1.4
Events of Default and Their Effect. 66 13.1 Events of Default 66 13.2 Effect of Event of Xxxxxxx 00 XXXXXXX 00. THE AGENT. 68 14.1 Appointment and Authorization 68 14.2 Issuing Lender 69 14.3 Delegation of Duties 69 14.4 Exculpation of Administrative Agent 69 14.5 Reliance by Administrative Agent 70 14.6 Notice of Default 70 14.7 Credit Decision 70 14.8 Indemnification 71 14.9 Administrative Agent in Individual Capacity 71 14.10 Successor Administrative Agent 72 14.11 Collateral Matters 72 14.12 Administrative Agent May File Proofs of Claim 72 14.13 Other Agents; Arrangers and Managers 73 SECTION 15. GENERAL. 73 15.1 Waiver; Amendments 74 15.2 Confirmations 74 15.3 Notices 74 15.4 Computations 75 15.5 Costs, Expenses and Taxes 75 15.6 Assignments; Participations 75 15.7 Register 77 15.8 GOVERNING LAW 77 15.9 Confidentiality 77 15.10 Severability 78 15.11 Nature of Remedies 78 15.12 Entire Agreement 78 15.13 Counterparts 79 15.14 Successors and Assigns 79 15.15 Captions 79 15.16 Customer Identification - USA Patriot Act Notice 79 15.17 INDEMNIFICATION BY THE COMPANY 79 15.18 Nonliability of Lenders 80 15.19 FORUM SELECTION AND CONSENT TO JURISDICTION 81 15.20 WAIVER OF JURY TRIAL 81 ANNEXES ANNEX A Lenders and Pro Rata Shares ANNEX B Addresses for Notices SCHEDULE 9.6 Litigation and Contingent Liabilities SCHEDULE 9.8 Subsidiaries SCHEDULE 9.16 Insurance SCHEDULE 9.17 Real Property SCHEDULE 9.21 Labor Matters SCHEDULE 11.1 Existing Debt SCHEDULE 11.2 Existing Liens SCHEDULE 11.11 Investments SCHEDULE 12.1 Debt to be Repaid EXHIBITS EXHIBIT A Form of Note (Section 3.1) EXHIBIT B Form of Compliance Certificate (Section 10.1.3) EXHIBIT C Form of Borrowing Base Certificate (Section 1.1) EXHIBIT D Form of Assignment Agreement (Section 15.6.1) EXHIBIT E Form of Notice of Borrowing (Section 2.2.2) EXHIBIT F Form of Notice of Conversion/Continuation (Section 2.2.3) CREDIT AGREEMENT THIS CREDIT AGREEMENT dated as of January 2, 2007 (this “Agreement”) is entered into among KAPSTONE KRAFT PAPER CORPORATION, a Delaware corporation (the “Company”), the financial institutions that are or may from time to time become parties hereto (together with their respective successors and assigns, the “Lenders”) and LASALLE BANK NATIONAL ASSOCIATION (in its individual capacity, “LaSalle”), as administrative agent for the Lenders. The Lenders have agreed to make available to the Company a term loan and a revolving credit facility (which includes letters of credit) upon the terms and conditions set forth herein. In cons...
Events of Default and Their Effect. 69 13.1 Events of Default 69 13.2 Effect of Event of Default 70 Section 14. THE AGENT 71 14.1 Appointment and Duties 71 14.2 Binding Effect 72 14.3 Use of Discretion. 72 14.4 Delegation of Rights and Duties 72 14.5 Reliance and Liability. 72 14.6 Agent Individually. . 73 14.7 Lender Credit Decision. 73 14.8 Expenses; Indemnities. 74 14.9 Resignation of the Agent. 74 14.10 Release of Collateral or Guarantors. 75 14.11 Additional Secured Parties. 75
