Grouped Into 90 Collections of Similar Clauses From Business Contracts
This page contains Events of Default clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Events of Default. 21.1. Bankruptcy of Tenant. It shall be a default by Tenant under this Lease ("Default" or "Event of Default") if Tenant makes an assignment for the benefit of creditors, or files a voluntary petition under any state or federal bankruptcy (including the United States Bankruptcy Code) or insolvency law, or an involuntary petition is filed against Tenant under any state or federal bankruptcy (including the United States Bankruptcy Code) or insolvency law that is not dismissed within ninety (90) da...ys after filing, or whenever a receiver of Tenant, or of or for the property of Tenant shall be appointed, or Tenant admits it is insolvent or is not able to pay its debts as they mature. 21.2. Default Provisions. In addition to any Default arising under Section 21.1 above or elsewhere provided in this Lease, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within five (5) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive twelve (12) month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a five day period in which to cure any such failure; (b) if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of thirty (30) days after Landlord's delivery to Tenant of written notice of such default under this Section 21.2(b); provided, however, that if the default cannot, by its nature, be cured within such thirty (30) day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial thirty (30) day cure period, then Landlord shall not exercise its remedies under Section 22 unless such default remains uncured for more than sixty (60) days after the initial delivery of Landlord's original default notice; and, at Landlord's election.View More
Events of Default. 21.1. 21.1 Bankruptcy of Tenant. It shall be a default by Tenant under this Lease ("Default" or "Event of Default") if Tenant makes an assignment for the benefit of creditors, or files a voluntary petition under any state or federal bankruptcy (including the United States Bankruptcy Code) or insolvency law, or an involuntary petition is filed against Tenant under any state or federal bankruptcy (including the United States Bankruptcy Code) or insolvency law that is not dismissed within ninety (9...0) days after filing, or whenever a receiver of Tenant, Tenant or of or for the property of Tenant shall be appointed, or Tenant admits it is insolvent or is not able to pay its debts as they mature. 21.2. mature (collectively, "Bankruptcy Default"). 21.2 Default Provisions. In addition to any Bankruptcy Default arising under Section 21.1 above or elsewhere provided in this Lease, above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within five (5) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive twelve (12) month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a five day period in which to cure any such failure; (b) if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of thirty (30) days after Landlord's delivery to Tenant of written notice of such default under this Section 21.2(b); Section; provided, however, that if the default cannot, by its nature, be cured within such thirty (30) day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial thirty (30) day cure period, then Landlord shall not exercise its remedies under Section 22 any Landlord Remedies (as hereinafter defined) unless such default remains uncured for more than sixty (60) days after the initial delivery of Landlord's original default notice; and, at Landlord's election. election; (c) if Tenant vacates or abandons the Premises during the Term; (d) . It shall be an automatic Event of Default under this Lease (for which no notice or cure period shall be required) in the event that Tenant violates its obligations under Section 8 of the Lease. View More
Events of Default. The occurrence of any of the following events will be deemed to be an "Event of Default" under this Note: (i) the nonpayment of any principal, interest or other indebtedness under this Note when due; (ii) the occurrence of any event of default or any default and the lapse of any notice or cure period, or the Borrower's failure to observe or perform any covenant or other agreement, under or contained in any Loan Document; (iii) the filing by or against the Borrower of any proceeding in bankruptcy..., receivership, insolvency, reorganization, liquidation, conservatorship or similar proceeding (and, in the case of any such proceeding instituted against the Borrower, such proceeding is not dismissed or stayed within 30 days of the commencement thereof, provided that the Bank shall not be obligated to advance additional funds hereunder during such period); (iv) any assignment by the Borrower for the benefit of creditors, or any levy, garnishment, attachment or similar proceeding is instituted against any property of the Borrower held by or deposited with the Bank; (v) the commencement of any foreclosure or forfeiture proceeding, execution or attachment against any collateral securing the obligations of the Borrower to the Bank; (vi) the entry of a final judgment against the Borrower and the failure of the Borrower to discharge the judgment within ten (10) days of the entry thereof; (vii) any change in the Borrower's equity ownership (if not a public company), or any merger, consolidation, division or other reorganization of, with or by the Borrower, or the sale or other transfer of all or any substantial part of the Borrower's property or assets, except as otherwise permitted by the Bank; (viii) any change in the Borrower's business, assets, operations, financial condition or results of operations that has or could reasonably be expected to have any material adverse effect on the Borrower; (ix) the Borrower ceases doing business as a going concern; (x) any representation or warranty made by the Borrower to the Bank in any Loan Document or any other documents now or in the future evidencing or securing the obligations of the Borrower to the Bank, is false, erroneous or misleading in any material respect; (xi) the death, incarceration, indictment or legal incompetency of any individual Borrower or, if the Borrower is a partnership or limited liability company, the death, incarceration, indictment or legal incompetency of any individual general partner or member; or (xii) failure of the Borrower to notify the Bank within ten (10) days of any change of the Borrower's address. Upon the occurrence of an Event of Default: (a) the Bank shall be under no further obligation to make advances hereunder; (b) if an Event of Default specified in clause (iii) or (iv) above shall occur, the outstanding principal balance and accrued interest hereunder together with any additional amounts payable hereunder shall be immediately due and payable without demand or notice of any kind; (c) if any other Event of Default shall occur, the outstanding principal balance and accrued interest hereunder together with any additional amounts payable hereunder, at the Bank's option and without demand or notice of any kind, may be accelerated and become immediately due and payable; (d) at the Bank's option, this Note will bear interest at the Default Rate from the date of the occurrence of the Event of Default; and (e) the Bank may exercise from time to time any of the rights and remedies available under the Loan Documents or under applicable law. The Borrower acknowledges that upon the occurrence of an Event of Default, SBA, as defined below, may be required to pay the Lender under the SBA guarantee, and SBA may then seek recovery on the Facility (to the extent any balance remains after loan forgiveness).View More
Events of Default. The occurrence of any of the following events will be deemed to be an "Event of Default" under this Note: (i) the nonpayment of any principal, interest or other indebtedness under this Note when due; due and such failure to pay continues uncured for 10 days; (ii) the occurrence failure of any event of default or any default and the lapse of any notice or cure period, or the Borrower's failure Borrower to observe or perform any covenant or other agreement, under or contained in any Loan Document;... Document and such failure continues uncured for a period of 30 days after written notice from Lender; (iii) the filing by or against the Borrower of any proceeding in bankruptcy, receivership, insolvency, reorganization, liquidation, conservatorship or similar proceeding (and, in the case of any such proceeding instituted against the Borrower, such proceeding is not dismissed or stayed within 30 forty-five (45) days of the commencement thereof, provided that the Bank shall not be obligated to advance additional funds hereunder during such period); thereof; (iv) any assignment by the Borrower for the benefit of creditors, or any levy, garnishment, attachment or similar proceeding is instituted against any property of the Borrower held by or deposited with the Bank; Borrower; (v) the commencement of any foreclosure or forfeiture proceeding, execution or attachment against any collateral securing the obligations of the Borrower to the Bank; Property; (vi) the entry of a final judgment against the Borrower and the failure of the Borrower to discharge the judgment within ten (10) thirty (30) days of the entry thereof; (vii) any change in the Borrower's equity ownership (if not a public company), or any merger, consolidation, division or other reorganization of, with or by the Borrower, or the sale or other transfer of all or any substantial part of the Borrower's property or assets, except as otherwise permitted by the Bank; (viii) any change in the Borrower's business, assets, operations, financial condition or results of operations that has or could reasonably be expected to have any material adverse effect on the Borrower; (ix) the Borrower ceases doing business as a going concern; (x) any representation or warranty made by the Borrower to the Bank Lender in any Loan Document or any other documents now or in the future evidencing or securing the obligations of the Borrower to the Bank, Lender, is false, erroneous or misleading in any material respect; (xi) (viii) Borrower's failure to timely deliver any of the death, incarceration, indictment Post-Closing Deliveries (defined below); or legal incompetency of any individual Borrower or, (viii) if the Borrower Property is a partnership abandoned or limited liability company, the death, incarceration, indictment there is otherwise an abandonment of all or legal incompetency of any individual general partner or member; or (xii) failure substantially all of the Borrower to notify the Bank within ten (10) days of any change of the Borrower's address. operations thereon. -6- 11. Remedies. Upon the occurrence of an Event of Default: (a) the Bank Lender shall be under no further obligation to make advances hereunder; (b) if an Event of Default specified in clause (iii) or (iv) above shall occur, the outstanding principal balance and accrued interest hereunder together with any additional amounts payable hereunder shall be immediately due and payable without demand or notice of any kind; (c) if any other Event of Default shall occur, the outstanding principal balance and accrued interest hereunder together with any additional amounts payable hereunder, at the Bank's Lender's option and without demand or notice of any kind, may be accelerated and become immediately due and payable; (d) at the Bank's option, Lender's option upon written notice to Borrower, this Note will bear interest at the Default Rate from the date of the occurrence of the Event of Default; and (e) the Bank Lender may exercise from time to time any of the rights and remedies available under the Loan Documents or under applicable law. The Borrower acknowledges that upon the occurrence of an Event of Default, SBA, as defined below, may be required to pay the Lender under the SBA guarantee, and SBA may then seek recovery on the Facility (to the extent any balance remains after loan forgiveness).View More
Events of Default. The following shall constitute Events of Default: (a) Failure by Maker to pay the principal of, or other payments on, this Note within five (5) business days following the date when due. (b) The liquidation, dissolution or transfer of all or substantially all assets of FinTech, other than in connection with an Initial Business Combination. (c) The Maker commences any case, proceeding or other action (i) under any existing or future law relating to bankruptcy, insolvency, reorganization, or other... relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate it as bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts or (ii) seeking appointment of a receiver, trustee, custodian, conservator or other similar official for it or for all or any substantial part of its assets, or the Maker makes a general assignment for the benefit of its creditors.View More
Events of Default. The occurrence of any of the following shall constitute Events an Event of Default: (a) Default hereunder ("Event of Default"): 3.1 Failure by to Pay. The Maker fails to pay the principal of, or other payments on, this Note make Demand Payment within five (5) two (2) business days following the date when due. (b) The liquidation, dissolution or transfer of all or substantially all assets of FinTech, other than in connection with an Initial Business Combination. (c) demand by Noteholder. 3.2 Bank...ruptcy. The Maker commences or there is commenced against the Maker any case, proceeding or other action (i) under any existing or future law relating to bankruptcy, insolvency, reorganization, or other relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate it as bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts debts, or (ii) seeking appointment of a receiver, trustee, custodian, conservator or other similar official for it or for all or any substantial part of its assets, or the Maker makes a general assignment for the benefit of its creditors. View More
Events of Default. An event of default will occur if any of the following events occurs: a. Failure to pay any principal or interest hereunder within ten (10) days after the same becomes due. b. Any representation or warranty made by Borrower in this Agreement or in connection with any borrowing or request for an Advance hereunder, or in any certificate, financial statement, or other statement furnished by Borrower to Lender is untrue in any material respect at the time when made. c. Default by Borrower in the obs...ervance or performance of any other covenant or agreement contained in this Agreement, other than a default constituting a separate and distinct event of default under this Paragraph 6. d. Filing by Borrower of a voluntary petition in bankruptcy seeking reorganization, arrangement or readjustment of debts, or any other relief under the Bankruptcy Code as amended or under any other insolvency act or law, state or federal, now or hereafter existing. 2 e. Filing of an involuntary petition against Borrower in bankruptcy seeking reorganization, arrangement or readjustment of debts, or any other relief under the Bankruptcy Code as amended, or under any other insolvency act or law, state or federal, now or hereafter existing, and the continuance thereof for sixty (60) days undismissed, unbonded, or undischarged.View More
Events of Default. An event of default will occur if any of the following events occurs: occurs ("EVENT OF DEFAULT"): a. Failure to pay any principal or interest hereunder on a Note within ten (10) days after the same becomes due. b. Any representation or warranty made by Borrower in this Agreement or in connection with any borrowing or request for an Advance hereunder, or in any certificate, financial statement, or other statement furnished by Borrower to Lender is untrue in any material respect at the time when ...made. c. Default by Borrower in the observance or performance of any other covenant or agreement contained in this Agreement, other than a default constituting a separate and distinct event Event of default Default under this Paragraph 6. 6; provided, however, that such default is not remedied within fourteen (14) days after notice thereof is given to Borrower. d. Filing by Borrower of a voluntary petition in bankruptcy seeking reorganization, arrangement or readjustment of debts, or any other relief under the US Bankruptcy Code Code, as amended amended, or under any other insolvency act or law, state or federal, now or hereafter existing. 2 e. Filing of an involuntary petition against Borrower in bankruptcy seeking reorganization, arrangement or readjustment of debts, or any other relief under the Bankruptcy Code as amended, or under any other insolvency act or law, state or federal, now or hereafter existing, and the continuance thereof for sixty (60) days undismissed, unbonded, or undischarged. f. Any order, judgment or decree shall be entered against Borrower decreeing the dissolution or split up of Borrower and such order shall remain undischarged or unstayed for a period in excess of thirty (30) days. View More
Events of Default. The occurrence of any of the following actions shall constitute an "Event of Default" under this Agreement: (a) the Borrowers fail to pay, perform or observe any obligation of the Borrowers to the Lender, including, without limitation, the Borrowers fail to pay any Collection Amounts, fees or Reimbursable Expenses owing to the Lender; (b) if collections into the Lender Account are insufficient to retain the Fixed Daily Payment on two (2) days in any thirty (30) day period; (c) if Borrowers do no...t remit sale proceeds to Lender upon the consummation of a sale as required in Section 2(b) above; (d) any representation or warranty made at any time by the Borrowers to the Lender, or any information regarding the Borrowers supplied at any time by the Borrowers to the Lender regarding the Borrowers or its business, shall prove to be false or misleading in any material respect; (e) any bankruptcy or other insolvency action shall be filed by any Borrower or any receiver shall be appointed; (f) any bankruptcy or other insolvency action shall be filed against any Borrower and is not discharged within sixty (60) days; (g) the Borrowers violate any provision of this Agreement and the Related Agreements and, to the extent curable, such violation is not cured within ten (10) days after written notice from Lender; (h) the Borrowers violate the provisions of the Payment Instruction Agreement or the Processor Agreement, or the Borrowers utilize any person other than the Processor to process any U.S. based Credit Card Receivables; or (i) any material adverse change occurs in the economic condition or prospects of any of the Borrowers, including but not limited to, Borrowers' default under any material third party agreements, including real estate leases, equipment leases or any other financing agreements. 5 Borrowers' initials: _______ 12. Remedies. Upon the occurrence of an Event of Default and while such Event of Default is continuing, the Lender (a) shall be entitled to exercise all rights and remedies specified in this Agreement and/or any of the Related Agreements, including, but not limited to, increasing the Fixed Daily Payments in such amount as Lender deems reasonable as a result of such default and/or initiating ACH debits to one or more Borrowers bank deposit accounts as provided in Section 2(d) above, (b) shall be entitled to assess, in addition to all other rights, remedies and fees, a Default Rate of interest on all outstanding obligations of the Borrowers at the default rate of 18% per annum (the "Default Rate") and such default interest shall be payable on demand. The Default Rate shall be computed on the basis of a 360-day year for the actual number of days elapsed and shall be computed on the daily outstanding balance of Borrowers' obligations for each day Borrowers remain in default or until all obligations are paid in full, whichever is earlier; (c) shall have all rights and remedies of a secured party upon default under the UCC, including but not limited to, the right to notify account debtors, and (d) shall be entitled to exercise all other rights available to it at law or in equity. All rights and remedies of the Lender shall be cumulative, and no failure or delay in exercising any right or remedy by the Lender shall preclude the Lender from exercising the same or any other right or remedy.View More
Events of Default. The occurrence of any of the following actions shall constitute an "Event of Default" under this Agreement: (a) the Borrowers fail Borrower fails to pay, perform or observe any obligation of the Borrowers Borrower to the Lender, including, without limitation, the Borrowers fail Borrower fails to pay any Collection Amounts, fees or Reimbursable Expenses owing to the Lender; (b) if collections into the Lender Account are insufficient to retain the Fixed Daily Payment on two (2) days in any thirty ...(30) day period; (c) if Borrowers do not remit sale proceeds to Lender upon the consummation of a sale as required in Section 2(b) above; (d) any representation or warranty made at any time by the Borrowers Borrower to the Lender, or any information regarding the Borrowers Borrower supplied at any time by the Borrowers Borrower to the Lender regarding the Borrowers Borrower or its business, shall prove to be false or misleading in any material respect; (e) (d) any bankruptcy or other insolvency action shall be filed by any or against the Borrower or any receiver shall be appointed; (f) (e) the Borrower violates any bankruptcy or other insolvency action shall be filed against any Borrower and is not discharged within sixty (60) days; (g) the Borrowers violate any provision provisions of this Agreement and the Related Agreements and, to the extent curable, such violation is Agreements, including but not cured within ten (10) days after written notice from Lender; (h) the Borrowers violate the provisions of limited to, the Payment Instruction Agreement or and the Processor Agreement, or the Borrowers utilize Borrower utilizes any person other than the Processor to process any U.S. based Credit Card Receivables; credit card, charge card or (i) debit card receivables; (f) any material adverse change occurs in the economic condition or prospects of any of the Borrowers, Borrower, including but not limited to, Borrowers' Borrower's default under any material third party agreements, including real estate leases, equipment leases or any other financing agreements. 5 Borrowers' agreements; or (g) the Lender, in the exercise of its commercially reasonable judgment acting in good faith as a prudent lender, based on the circumstances of the Borrower then in effect, has reason to believe that it is insecure. 0Borrower's initials: _______ 12. 11. Remedies. Upon the occurrence of an Event of Default and while such Event of Default is continuing, Default, the Lender (a) shall be entitled to exercise all rights and remedies specified in this Agreement and/or any of the Related Agreements, including, but not limited to, increasing the Fixed Daily Payments in such amount as Lender deems reasonable as a result of such default and/or initiating ACH debits to one or more Borrowers Borrower bank deposit accounts as provided in Section 2(d) above, (b) shall be entitled to assess, in addition to all other rights, remedies and fees, a Default Rate of interest on all outstanding obligations of the Borrowers Borrower at the default rate of 18% per annum (the "Default Rate") and such default interest shall be payable on demand. The Default Rate shall be computed on the basis of a 360-day year for the actual number of days elapsed and shall be computed on the daily outstanding balance of Borrowers' Borrower's obligations for each day Borrowers remain Borrower remains in default or until all obligations are paid in full, whichever is earlier; (c) shall have all rights and remedies of a secured party upon default under the UCC, including but not limited to, the right to notify account debtors, and (d) shall be entitled to exercise all other rights available to it at law or in equity. All rights and remedies of the Lender shall be cumulative, and no failure or delay in exercising any right or remedy by the Lender shall preclude the Lender from exercising the same or any other right or remedy. View More
Events of Default. The occurrence of any one or more of the following events shall constitute an "Event of Default" hereunder: (a) any Event of Default (as defined in the Loan Agreement); (b) any default under any of the Obligations that does not have a defined set of "Events of Default" and the lapse of any notice or cure period provided in such Obligations with respect to such default; (c) demand by the Mortgagee under any of the Obligations that have a demand feature; (d) the Mortgagor's failure to perform any ...of its obligations under this Mortgage or under any Environmental Indemnity Agreement executed and delivered pursuant to Section 9(e); (e) falsity, inaccuracy or material breach by the Mortgagor of any written warranty, representation or statement made or furnished to the Mortgagee by or on behalf of the Mortgagor; (f) an uninsured material loss, theft, damage, or destruction to any of the Property, or the entry of any judgment against the Mortgagor or any lien against or the making of any levy, seizure or attachment of or on the Property; (g) the Mortgagee's failure to have a mortgage lien on the Property with the priority required under Section 1; (h) any indication or evidence received by the Mortgagee that the Mortgagor may have directly or indirectly been engaged in any type of activity which, in the Mortgagee's discretion, might result in the forfeiture of any property of the Mortgagor to any governmental entity, federal, state or local; (i) foreclosure proceedings are instituted against the Property upon any other lien or claim, whether alleged to be superior or junior to the lien of this Mortgage; (j) the failure by the Mortgagor to pay any Impositions as required under Section 2(c), or to maintain in full force and effect any insurance required under Section 5.View More
Events of Default. The occurrence of any one or more of the following events shall constitute an "Event of Default" hereunder: (a) any Event of Default (as such term is defined in the Loan Agreement); (b) any default under any of the Obligations that does not have a defined set of "Events of Default" and the lapse of any notice or cure period provided in such Obligations with respect to such default; (c) demand by the Mortgagee under any of the Obligations that have a demand feature; (d) Loan Documents); (b) the M...ortgagor's failure to perform any of its obligations under this Mortgage or under any Environmental Indemnity Agreement executed and delivered pursuant to Section 9(e); (e) 10; (c) falsity, inaccuracy or material breach by the Mortgagor of any written warranty, representation or statement made or furnished to the Mortgagee by or on behalf of the Mortgagor; (f) (d) an uninsured material loss, theft, damage, or destruction to any of the Property, or the entry of any judgment against the Mortgagor or any lien against or the making of any levy, seizure or attachment of or on the Property; (g) (e) the Mortgagee's failure to have a mortgage lien on the Property with the priority required under Section 1; (h) (f) any indication or evidence received by the Mortgagee that the Mortgagor may have directly or indirectly been engaged in any type of activity which, in the Mortgagee's discretion, might is reasonably likely to result in the forfeiture of any property of the Mortgagor to any governmental entity, federal, state or local; (i) (g) foreclosure proceedings are instituted against the Property upon any other lien or claim, whether alleged to be superior or junior to the lien of this Mortgage; (j) (h) the Mortgagor's failure by the Mortgagor to pay any Impositions as required under Section 2(c), 2(b), or to maintain in full force and effect any insurance required under Section 5. 6; or (i) the Mortgagor or any other obligor or guarantor of any of the Obligations, shall at any time deliver or cause to be delivered to the Mortgagee a notice pursuant to Ohio Rev. Code ยง 5301.232 (or any successor or similar law, rule or regulation) electing to limit the indebtedness secured by this Mortgage. View More
Events of Default. The occurrence of any one or more of the following events shall constitute an event of default hereunder ("Event of Default"): (a) Failure of Borrower to pay the principal or interest on this Note, when and as the same shall become due and payable and such failure continues unremedied for thirty (30) days; (b) The material default, breach or violation of Borrower in the performance or observance of any of the other covenants, agreements or conditions of Borrower contained in this Note or the Agr...eement and such material default, breach or violation continues unremedied for a period of thirty (30) business days following written notice from Payee to Borrower; or (c) Any representation or warranty of the Borrower made herein or in any agreement, statement or certificate given in writing pursuant hereto or in connection herewith (including, without limitation, the Agreement), shall be false or misleading in any material respect when made and the breach of which has (or with the passage of time will have) a material adverse effect on the rights of the Payee with respect to this Note or the Agreement.View More
Events of Default. The occurrence of any one or more of the following events shall constitute an event of default hereunder ("Event of Default"): (a) Failure of Borrower to pay the principal of or interest on this Note, when and as the same shall become due and payable and such failure continues unremedied for thirty (30) fifteen (15) days; (b) The material default, breach or violation of Borrower in the performance or observance of any of the other covenants, agreements or conditions of Borrower contained in this... Note or the Agreement and such material default, breach or violation continues unremedied for a period of thirty (30) business fifteen (15) days following written notice from Payee to Borrower; or (c) Any representation or warranty of the Borrower made herein or in any agreement, statement or certificate given in writing pursuant hereto or in connection herewith (including, without limitation, the Agreement), herewith, shall be false or misleading in any material respect when made and the breach of which has (or with the passage of time will have) a material adverse effect on the rights of the Payee with respect to this Note or its security interest in the Agreement. whiskey barrels. View More
Events of Default. The occurrence of any of the following events shall constitute an Event of Default under this Agreement: a. An Event of Default occurs under the Guaranty, the Loan Agreement, or any other agreement between Pledgor, Borrower, and Lender; or b. Pledgor breaches any warranty or agreement made by Pledgor in this Agreement.
Events of Default. The occurrence of any of the following events shall constitute an Event of Default under this Agreement: a. An Event of Default occurs under the Guaranty, the Loan Agreement, Agreement or any other agreement between Pledgor, Borrower, Pledgor and Lender; Secured Party including under Pledgor's guaranty; or b. Pledgor breaches any warranty or agreement made by Pledgor in this Agreement.
Events of Default. The term "Event of Default" means the occurrence of any one or more of the following: (a) Maker shall fail to make full payment of principal or interest on the Maturity Date, and such failure shall continue unremedied for a period of five (5) days after written notice from Payee; (b) Maker shall fail to comply with any of its other obligations under this Convertible Promissory Note, other than its obligations under Section 5, and such default shall continue unremedied for a period of fifteen (15...) days after written notice from Payee, provided, however, that in the event that such default cannot with diligence be cured within said period, Payee shall have such period as is reasonable to cure such default; (c) Maker or any Subsidiary: (i) shall commence a voluntary case under any Bankruptcy Law (as hereinafter defined); (ii) shall become subject to an involuntary case under any Bankruptcy Law which is not withdrawn, discharged or stayed within sixty (60) days after the commencement thereof; (iii) shall consent to the appointment of a Custodian (as hereinafter defined) for a substantial portion of its property; (iv) shall become subject to the appointment of a Custodian for a substantial portion of its property, which appointment is not withdrawn, discharged or stayed within sixty (60) days after the appointment thereof; or (v) makes a general assignment for the benefit of its creditors; or (d) Maker shall contravene any of its covenants set forth in Section 5 hereof or in Section 5 of the Pledge Agreement referred to in Section 11 hereof. (e) Maker or D&C shall fail to comply with any covenant made by it in Section 6.4 of the Merger Agreement; (f) D&C shall fail to comply with its covenant set forth in the latter sentence of Section 2.9 of the Merger Agreement; (g) The Merger Sub Operating Agreement (as defined in the Merger Agreement), in the exact form as it shall exist at the Effective Time, shall fail, without the prior written consent of the holder of this Promissory Note, to be the operating agreement of D&C. The term "Bankruptcy Law" means Title 7, Title 11 or Title 13, of the United States Code or any similar federal or state law for the relief of debtors and the term "Custodian" means any re ceiver, trustee, assignee, liquidator or similar official acting, appointed or empowered under any Bankruptcy Law.View More
Events of Default. The term "Event of Default" means the occurrence of any one or more of the following: following events: (a) Maker shall fail to make full payment of principal or interest on the Maturity Date, and such failure shall continue unremedied for a period of five (5) days after written notice from Payee; (b) Maker shall fail to comply default in compliance with any of its other obligations (i) under this Convertible Promissory Note, other than its obligations under (A) to pay the principal amount of an...d the interest accrued on this Convertible Promissory Note on the Maturity Date or (B) to comply with its covenants set forth in Section 5, 4 of the Exchange Agreement, and such default shall continue unremedied for a period of fifteen (15) days after written notice from Payee, provided, however, that in the event that such default cannot with diligence be cured within said period, Payee shall have such period as is reasonable to cure such default; (c) Maker or any Subsidiary: (i) shall commence a voluntary case under any Bankruptcy Law (as hereinafter defined); (ii) shall become subject to an involuntary case under any Bankruptcy Law which is not withdrawn, discharged or stayed within sixty (60) days after the commencement thereof; (iii) shall consent to the appointment of a Custodian (as hereinafter defined) for a substantial portion of its property; (iv) shall become subject to the appointment of a Custodian for a substantial portion of its property, which appointment is not withdrawn, discharged or stayed within sixty (60) days after the appointment thereof; or (v) makes a general assignment for the benefit of its creditors; or (d) Maker shall contravene default in compliance with any of its covenants set forth in Section 5 hereof or in Section 5 4 of the Pledge Agreement referred to in Section 11 hereof. (e) Maker or D&C shall fail to comply with any covenant made by it in Section 6.4 of the Merger Agreement; (f) D&C shall fail to comply with its covenant set forth in the latter sentence of Section 2.9 of the Merger Agreement; (g) The Merger Sub Operating Agreement (as defined in the Merger Agreement), in the exact form as it shall exist at the Effective Time, shall fail, without the prior written consent of the holder of this Promissory Note, to be the operating agreement of D&C. Exchange Agreement. The term "Bankruptcy Law" means Title 7, Title 11 or Title 13, 13 of the United States Code or any similar federal or state law for the relief of debtors and the term "Custodian" means any re ceiver, receiver, trustee, assignee, liquidator or similar official acting, appointed or empowered under any Bankruptcy Law. View More
