Common use of EVENTS OF DEFAULT Clause in Contracts

EVENTS OF DEFAULT. 7.1 Each of the events as described hereunder constitutes an Event of Default on the part of the Issuer: a. the failure to pay any sum due under the Notes at the time, in the currency and in the manner required, which non-payment is not remedied within 30 (thirty) days after the due date thereof; a representation or warranty hereunder or repeated by the Issuer in or pursuant to these Terms and Conditions is incorrect or misleading in any material respect when made or repeated; a. the failure to duly perform any other obligation, including the covenants under Article 6, under or resulting from these Terms and Conditions, which non-performance, if capable of remedy, is not remedied within 7 (seven) days after the Investors’ relevant notice to the Issuer which notice shall at all times be given by Lendahand on behalf of the Investors; a. an attachment or execution affects any assets of the Issuer and is not discharged within 14 (fourteen) days;