Events of Default Clause Example with 7 Variations from Business Contracts

Events of Default. (a) If there shall be any Event of Default (as defined below) hereunder, at the option and upon the declaration of the Holder and upon written notice to the Company (which election and notice shall not be required in the case of an Event of Default under subsection (ii) or (iii) below), this Note shall accelerate and all principal and unpaid accrued interest shall become due and payable. The occurrence of any one or more of the following shall constitute an "Event of Default": Default" under thi...s Note: (i) The the Company fails shall fail to observe or perform any other material covenant, obligation, condition or agreement contained in this Note, including the failure to pay timely any of the principal amount due amounts under this Note on when due; (ii) the date the same becomes due and payable or any unpaid accrued interest or other amounts due under this Note on the date the same becomes due and payable; (ii) The Company files any petition or action for relief under any bankruptcy, reorganization, insolvency or moratorium law or any other law for the relief of, or relating to, debtors, now or hereafter in effect, or makes any assignment for the benefit of creditors or takes any corporate action in furtherance of any of the foregoing; or (iii) An an involuntary petition is filed against the Company (unless such petition is dismissed or discharged within 60 45 days under any bankruptcy statute now or hereafter in effect, or a custodian, receiver, trustee or trustee, assignee for the benefit of creditors (or other similar official) is appointed to take possession, custody or control of any property of the Company). (b) In The Company shall promptly notify the event Investor upon the occurrence of an Event of Default or if the Company has knowledge of or becomes aware of a pending or potential Event of Default. (c) If there shall be any Event of Default hereunder, automatically upon the occurrence and during the continuation of an Event of Default under Section 5(a)(ii) or 5(a)(iii) and at the option of the Investor and upon written notice to the Company upon the occurrence and during the continuation of any other Event of Default, this Note shall pay accelerate and all reasonable attorneys' fees principal and court costs incurred by the Holder in enforcing unpaid fees, expenses and collecting this Note. other charges shall become promptly due and payable. View More

Events of Default. (a) If there shall be any Event of Default (as defined below) hereunder, at the option and upon the declaration of the Holder and upon written notice to the Company (which election and notice shall not be required in the case of an Event of Default under subsection (ii) or (iii) below), this Note shall accelerate and all principal and unpaid accrued interest shall become due and payable. The occurrence of any one or more Each of the following events shall constitute be an "Event of Default": (i)... The Default" hereunder: (a) the Company fails to pay timely (i) any of the principal amount due under this Note on the date the same becomes due and payable or (ii) any unpaid accrued interest or other amounts due under this Note on within three (3) business days of the date the same becomes due and payable; (ii) The (b) the Company shall materially default in its performance of any other covenant under this Note or the Security Agreement, which default is not cured within 30 days after written notice thereof from Holder; 1. (c) the Company files any petition or action for relief under any bankruptcy, reorganization, insolvency or moratorium law or any other law for the relief of, or relating to, debtors, now or hereafter in effect, or makes any assignment for the benefit of creditors or takes any corporate action in furtherance of any of the foregoing; or (iii) An (d) an involuntary petition is filed against the Company (unless such petition is dismissed or discharged within 60 days under any bankruptcy statute now or hereafter in effect, or a custodian, receiver, trustee or trustee, assignee for the benefit of creditors (or other similar official) is appointed to take possession, custody or control of any property of the Company). (b) In Company. Upon the event occurrence of any an Event of Default hereunder, all unpaid principal, accrued interest and other amounts owing hereunder shall, at the Company shall pay all reasonable attorneys' fees option of the Holder, upon the written consent of the Majority Lenders (as defined in the Security Agreement) and court costs incurred upon written notice to the Company, and, in the case of an Event of Default pursuant to (c) or (d) above, automatically, be immediately due, payable and collectible by the Holder in enforcing and collecting this Note. pursuant to applicable law. View More

Events of Default. (a) If there shall be any Event of Default (as defined below) hereunder, at the option and upon the declaration of the Holder Requisite Holders and upon written notice to the Company Payor (which election and notice shall not be required in the case of an Event of Default under subsection (ii) Section 7(c) or (iii) below), 7(d)), this Note shall accelerate and all principal and unpaid accrued interest shall become due and payable. The occurrence of any one or more of the following shall constitu...te an "Event Event of Default": (i) The Company Default: (a) Payor fails to pay timely any of the principal amount due under this Note on the date the same becomes due and payable or any unpaid accrued interest or other amounts due under this Note on the date the same becomes due and payable; (ii) The Company (b) Payor shall default in its performance of any covenant under the Agreement; (c) Payor files any petition or action for relief under any bankruptcy, reorganization, insolvency or moratorium law or any other law for the relief of, or relating to, debtors, now or hereafter in effect, or makes any assignment for the benefit of creditors or takes any corporate action in furtherance of any of the foregoing; or (iii) (d) An involuntary petition is filed against the Company Payor (unless such petition is dismissed or discharged within 60 days sixty (60) days) under any bankruptcy statute now or hereafter in effect, or a custodian, receiver, trustee or trustee, assignee for the benefit of creditors (or other similar official) is appointed to take possession, custody or control of any property of the Company). (b) In the event of any Event of Default hereunder, the Company shall pay all reasonable attorneys' fees and court costs incurred by the Holder in enforcing and collecting this Note. Payor. View More

Events of Default. (a) If there shall be any Event of Default (as defined below) hereunder, at the option and upon the declaration of the Holder and upon written notice to the Company (which election and notice shall not be required in the case of an Event of Default under subsection (ii) or (iii) below), this Note shall accelerate and all principal and unpaid accrued interest the Balance shall become due and payable. payable within five (5) days thereof (the "Drop Dead Date"). The occurrence of any one or more of... the following shall constitute an "Event of Default": (i) The Company fails to pay timely any of the principal amount due under this Note Balance on the date the same becomes due and payable and such failure continues for five (5) days after written notice thereof is delivered to the Company; (ii) The Company fails or neglects to perform, keep or observe any unpaid accrued interest material term, provision, condition, covenant, or other amounts due under agreement contained in this Note on (including, without limitation, under Section 6), and to the date extent such failure is capable of being cured, such failure continues for ten (10) days after written notice thereof is delivered to the same becomes due and payable; (ii) Company; (iii) The Company files any petition or action for relief under any bankruptcy, reorganization, insolvency or moratorium law or any other law for the relief of, or relating to, debtors, now or hereafter in effect, or makes any assignment for the benefit of creditors or takes any corporate action in furtherance of any of the foregoing; or (iii) (iv) An involuntary petition is filed against the Company (unless such petition is dismissed or discharged within 60 days under any bankruptcy statute now or hereafter in effect, or a custodian, receiver, trustee or assignee for the benefit of creditors (or other similar official) is appointed to take possession, custody or control of any property of the Company). (b) In the event of any Event of Default hereunder, the Company shall pay all reasonable attorneys' fees and court costs incurred by the Holder in enforcing and collecting this Note. Note following the Drop Dead Date. View More

Events of Default. (a) If there shall be any Event of Default (as defined below) hereunder, at the option and upon the declaration of the Holder and upon written notice to the Company (which election and notice shall not be required in the case of an Event of Default under subsection (ii) or (iii) below), this Note shall accelerate and all principal and unpaid accrued interest shall become due and payable. The occurrence of any one or more of the following shall constitute an "Event of Default": (i) The Company fa...ils Failure to pay timely any of the all outstanding principal amount due under this Note plus accrued interest on the date the same becomes due and payable or any unpaid accrued interest or other amounts due under this Note on the date the same becomes due and payable; Maturity Date; (ii) The Company files any petition or action for relief under any bankruptcy, reorganization, insolvency or moratorium law or any other law for the relief of, or relating to, debtors, now or hereafter in effect, or makes any assignment for the benefit of creditors or takes any corporate action in furtherance of any of the foregoing; or (iii) An involuntary petition is filed against the Company (unless such petition is dismissed or discharged within 60 sixty (60) days under any bankruptcy statute now or hereafter in effect, or a custodian, receiver, trustee or assignee for the benefit of creditors (or other similar official) is appointed to take possession, custody or control of any property of the Company). (b) In the event of any Event of Default hereunder, the Company shall pay all reasonable attorneys' fees and court costs incurred by the Holder in enforcing and collecting this Note. View More

Events of Default. (a) If there shall be any Event of Default (as defined below) hereunder, at the option and upon the declaration of the Holder and upon written notice to the Company (which election and notice shall not be required in the case of an Event of Default under subsection (ii) or (iii) below), this Note shall accelerate and all principal and unpaid accrued interest shall become due and payable. The occurrence of any one or more of the following shall constitute an "Event of Default": (i) The Company fa...ils to pay timely any of the principal amount due under this Note on the date the same becomes due and payable or any unpaid accrued interest or other amounts due under this Note on the date the same becomes due and payable; (ii) The Company files any petition or action for relief under any bankruptcy, reorganization, insolvency or moratorium law or any other law for the relief of, or relating to, debtors, now or hereafter in effect, or makes any assignment for the benefit of creditors or takes any corporate action in furtherance of any of the foregoing; or (iii) An involuntary petition is filed against the Company (unless such petition is dismissed or discharged within 60 days under any bankruptcy statute statute, now or hereafter in effect, or a custodian, receiver, trustee or assignee for the benefit of creditors (or other similar official) is appointed to take possession, custody or control of any property of the Company). (b) In the event of any Event of Default hereunder, the Company shall pay all reasonable attorneys' fees and court costs incurred by the Holder in enforcing and collecting this Note. (c) Upon the occurrence and during the continuance of an Event of Default (as defined in Subsections 5a-i to 5a-iii above), this Note shall bear interest at a default rate of 1% (One Percent) per annum. View More

Events of Default. (a) If there shall be any Upon the occurrence and continuance of an Event of Default (as defined below) hereunder, below), at the option and upon the declaration of the Holder and upon written notice to the Company (which election and notice shall not be required in the case of an Event of Default under subsection (ii) or (iii) below), this Note shall accelerate and all outstanding principal and unpaid accrued interest shall become due and payable. The occurrence of any one or more of the follow...ing shall constitute an "Event of Default": 3 (i) The Company fails to pay timely (x) any of the principal amount due under this Note on the date the same becomes due and payable or (y) any unpaid accrued interest or other amounts due under this Note on the date the same becomes due and payable; payable and such failure shall continue unremedied for a period of three business days; (ii) The Company files any petition or action for relief under any bankruptcy, reorganization, insolvency or moratorium law or any other law for the relief of, or relating to, debtors, now or hereafter in effect, or makes any assignment for the benefit of creditors or takes any corporate action in furtherance of any of the foregoing; or (iii) An involuntary petition is filed against the Company (unless such petition is dismissed or discharged within 60 days under any bankruptcy statute now or hereafter in effect, or a custodian, receiver, trustee or trustee, assignee for the benefit of creditors (or other similar official) is appointed to take possession, custody or control of any property of the Company). (b) In the event of any Event of Default hereunder, the The Company shall pay all reasonable attorneys' fees and court costs incurred by the Holder in enforcing and collecting this Note. View More