Default Clause Example with 40 Variations from Business Contracts

This page contains Default clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Default. The following events shall be "Events of Default": (a) The occurrence of an Event of Default (as defined in the Debentures) under the Debentures; (b) Any representation or warranty of any Debtor in this Agreement shall prove to have been incorrect in any material respect when made; (c) The failure by any Debtor to observe or perform any of its obligations hereunder for five (5) days after delivery to such Debtor of notice of such failure by or on behalf of a Secured Party unless such default is ...capable of cure but cannot be cured within such time frame and such Debtor is using best efforts to cure same in a timely fashion; or (d) If any provision of this Agreement shall at any time for any reason be declared to be null and void, or the validity or enforceability thereof shall be contested by any Debtor, or a proceeding shall be commenced by any Debtor, or by any governmental authority having jurisdiction over any Debtor, seeking to establish the invalidity or unenforceability thereof, or any Debtor shall deny that any Debtor has any liability or obligation purported to be created under this Agreement. View More
Found in ReShape Lifesciences Inc. contract

Variations of a "Default" Clause from Business Contracts

Default. The following events shall be "Events of Default": (a) The occurrence of an Event of Default (as defined in the Debentures) under the Debentures; (b) Any representation or warranty of any Debtor in this Agreement or the Purchase Agreement shall prove to have been incorrect in any material respect when made; (c) The failure by any Debtor to observe or perform any of its obligations hereunder for five (5) days Business Days after delivery to such Debtor of notice of such failure by or on behalf of... a Secured Party unless such default is capable of cure but cannot be cured within such time frame and such Debtor is using best efforts to cure same in a timely fashion; or (d) If any provision of this Agreement shall at any time for any reason be declared to be null and void, or the validity or enforceability thereof shall be contested by any Debtor, or a proceeding shall be commenced by any Debtor, or by any governmental authority having jurisdiction over any Debtor, seeking to establish the invalidity or unenforceability thereof, or any Debtor shall deny that any Debtor has any liability or obligation purported to be created under this Agreement. 9 7. Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time during the continuance of such Event of Default, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures). (b) [Reserved]. View More
Found in Legend Oil & Gas, Ltd. contract
Default. The following events shall be "Events of Default": (a) The occurrence of an Event of Default (as defined in the Debentures) Note) under the Debentures; Note; (b) Any representation or warranty of any Debtor in this Agreement shall prove to have been incorrect in any material respect when made; (c) The failure by any Debtor to observe or perform any of its obligations hereunder for five (5) days after delivery to such Debtor of notice of such failure by or on behalf of a Secured Party unless such... default is capable of cure but cannot be cured within such time frame and such Debtor is using best efforts to cure same in a timely fashion; Business Days; or (d) If any provision of this Agreement shall at any time for any reason be declared to be null and void, or the validity or enforceability thereof shall be contested by any Debtor, or a proceeding shall be commenced by any Debtor, or by any governmental authority having jurisdiction over any Debtor, seeking to establish the invalidity or unenforceability thereof, or any Debtor shall deny that any Debtor has any liability or obligation purported to be created under this Agreement. View More
Found in PeerStream, Inc. contract
Default. The following events shall be "Events of Default": (a) The occurrence of an Event of Default (as defined in the Debentures) under the Debentures; (b) Any representation or warranty of any the Debtor in this Agreement shall prove to have been incorrect in any material respect when made; (c) The failure by any Debtor to observe or perform any of its obligations hereunder for the earlier of (i) five (5) days after delivery to such Debtor the Company of notice of such failure by or on behalf of a Se...cured Party unless and (ii) ten (10) days after any Debtor has become or should have become aware of such default is capable of cure but cannot be cured within such time frame and such Debtor is using best efforts to cure same in a timely fashion; failure; or (d) If any provision of this Agreement shall at any time for any reason be declared to be null and void, or the validity or enforceability thereof shall be contested by any the Debtor, or a proceeding shall be commenced by any the Debtor, or by any governmental authority having jurisdiction over any the Debtor, seeking to establish the invalidity or unenforceability thereof, or any the Debtor shall deny that any the Debtor has any liability or obligation purported to be created under this Agreement. View More
Found in MICT, Inc. contract
Default. The following events shall be "Events of Default": (a) The occurrence of an Event of Default (as defined in the Debentures) Notes or in any other Transaction Document) under the Debentures; Notes or any other Transaction Document; (b) Any representation or warranty of any the Debtor in this Agreement shall prove to have been incorrect in any material respect when made; (c) The failure by any the Debtor to observe or perform any of its obligations Secured Obligations hereunder for five (5) days a...fter delivery to such the Debtor of notice of such failure by or on behalf of a Secured Party unless such default is capable of cure but cannot be cured within such time frame and such the Debtor is using best efforts to cure same in a timely fashion; or (d) If any provision of this Agreement shall at any time for any reason be declared to be null and void, or the validity or enforceability thereof shall be contested by any the Debtor, or a proceeding shall be commenced by any the Debtor, or by any governmental authority having jurisdiction over any the Debtor, seeking to establish the invalidity or unenforceability thereof, or any the Debtor shall deny that any the Debtor has any liability or obligation purported to be created under this Agreement. View More
Found in 2 Contracts from CAMBER ENERGY, INC.
Default. The following events shall be "Events of Default": (a) The occurrence of an Event of Default (as defined in the Debentures) under the Debentures; (b) Any representation or warranty of any Debtor in this Agreement shall prove to have been incorrect in any material respect when made; or (c) The failure by any Debtor to observe or perform any of its obligations hereunder for five (5) days after delivery to such Debtor of notice of such failure by or on behalf of a Secured Party unless such default ...is capable of cure but cannot be cured within such time frame and such Debtor is using best efforts to cure same in a timely fashion; or (d) If any provision of this Agreement shall at any time for any reason be declared to be null and void, or the validity or enforceability thereof shall be contested by any Debtor, or a proceeding shall be commenced by any Debtor, or by any governmental authority having jurisdiction over any Debtor, seeking to establish the invalidity or unenforceability thereof, or any Debtor shall deny that any Debtor has any liability or obligation purported to be created under this Agreement. View More
Found in Rennova Health, Inc. contract
Default. The following events shall be "Events of Default": (a) The occurrence of an Event of Default (as defined in the Debentures) Notes) under the Debentures; Notes; (b) Any representation or warranty of any Debtor in this Agreement shall prove to have been incorrect in any material respect when made; (c) The failure by any Debtor to observe or perform any of its obligations hereunder for five (5) calendar days after delivery to such Debtor of written notice of such failure by or on behalf of a Secure...d Party unless or ten (10) calendar days after Debtor otherwise becomes aware of such default is capable of cure but cannot be cured within such time frame and such Debtor is using best efforts to cure same in a timely fashion; non-observance or non-performance; or (d) If any material provision of this Agreement shall at any time for any reason be declared to be null and void, or the validity or enforceability thereof shall be contested by any Debtor, or a proceeding shall be commenced by any Debtor, or by any governmental authority having jurisdiction over any Debtor, seeking to establish the invalidity or unenforceability thereof, or any Debtor shall deny that any Debtor has any liability or obligation purported to be created under this Agreement. View More
Found in GT Biopharma, Inc. contract
Default. The following events shall be "Events of Default": (a) The occurrence of an Event of Default (as defined in the Debentures) Notes) under the Debentures; Notes; (b) Any representation or warranty of any Debtor in this Agreement shall prove to have been incorrect in any material respect when made; (c) The failure by any Debtor to observe or perform any of its obligations hereunder for five (5) days after delivery to such Debtor of notice of such failure by or on behalf of a Secured Party unless su...ch default is capable of cure but cannot be cured within such time frame and such Debtor is using best efforts to cure same in a timely fashion; Trading Days; or (d) If any provision of this Agreement shall at any time for any reason be declared to be null and void, or the validity or enforceability thereof shall be contested by any Debtor, or a proceeding shall be commenced by any Debtor, or by any governmental authority having jurisdiction over any Debtor, seeking to establish the invalidity or unenforceability thereof, or any Debtor shall deny that any Debtor has any liability or obligation purported to be created under this Agreement. View More
Found in PeerStream, Inc. contract
Default. The following events shall be "Events of Default": (a) The occurrence of an Event of Default (as defined in the Debentures) Note) under the Debentures; Note; (b) Any representation or warranty of any the Debtor in this Agreement shall prove to have been incorrect in any material respect when made; (c) The failure by any the Debtor to observe or perform any of its obligations hereunder for five (5) days after delivery to such the Debtor of written notice of such failure by or on behalf of a the S...ecured Party unless such default is capable of cure but cannot be cured within such time frame and such the Debtor is using best efforts to cure same in a timely fashion; or 14 (d) If any provision of this Agreement shall at any time for any reason be declared to be null and void, or the validity or enforceability thereof shall be contested by any the Debtor, or a proceeding shall be commenced by any the Debtor, or by any governmental authority having jurisdiction over any the Debtor, seeking to establish the invalidity or unenforceability thereof, or any the Debtor shall deny that any the Debtor has any liability or obligation purported to be created under this Agreement. View More
Found in INTERCLOUD SYSTEMS, INC. contract
Default. The following events shall be "Events of Default": (a) The occurrence of an Event of Default (as defined in the Debentures) Note) under the Debentures; Note; (b) Any representation or warranty of any the Debtor in this Agreement shall prove to have been incorrect in any material respect when made; (c) The failure by any the Debtor to observe or perform any of its obligations hereunder for five (5) days after delivery to such Debtor it of notice of such failure by or on behalf of a the Secured Pa...rty unless such default is capable of cure but cannot be cured within such time frame and such the Debtor is using best commercially reasonable efforts to cure same in a timely fashion; or (d) If any provision of this Agreement shall at any time for any reason be declared to be null and void, or the validity or enforceability thereof shall be contested by any the Debtor, or a proceeding shall be commenced by any the Debtor, or by any governmental authority having jurisdiction over any the Debtor, seeking to establish the invalidity or unenforceability thereof, or any the Debtor shall deny that any the Debtor has any liability or obligation purported to be created under this Agreement. View More
Found in CARDAX, INC. contract
Default. The following events shall be "Events of Default": (a) The occurrence of an Event of Default (as defined in the Debentures) under the Debentures; (b) Any representation or warranty of any the Debtor in this Agreement shall prove to have been incorrect in any material respect when made; (c) The failure by any the Debtor to observe or perform any of its obligations hereunder for five (5) days after delivery to such Debtor of notice of such failure by or on behalf of a Secured Party Business Days u...nless such default is capable of cure but cannot be cured within such time frame and such the Debtor is using best efforts to cure same in a timely fashion; or (d) If any provision of this Agreement shall at any time for any reason be declared to be null and void, or the validity or enforceability thereof shall be contested by any the Debtor, or a proceeding shall be commenced by any the Debtor, or by any governmental authority having jurisdiction over any the Debtor, seeking to establish the invalidity or unenforceability thereof, or any the Debtor shall deny that any the Debtor has any liability or obligation purported to be created under this Agreement. View More
Found in CONVERSION LABS, INC. contract