Events of Default Contract Clauses (4,519)

Events of Default. The entire aggregate principal amount of the Advances made by Holder pursuant to this Note, together with all accrued and unpaid interest thereon, is subject to prepayment in whole or in part upon the initiation of any bankruptcy, insolvency, moratorium, receivership or reorganization by or against the Company, or a general assignment of assets by the Company for the benefit of creditors (each, an "Event of Default"). Upon the occurrence of any Event of Default, all amounts outstanding hereunder... in respect of the principal amount of any Advance and all unpaid interest having accrued thereon, shall be immediately due and payable without notice to or demand on the Company. For the avoidance of doubt, any payment obligation of the Company pursuant to this Section 2 is subject to Section 3. View More

Events of Default. The occurrence of any "Event of Default" under the Loan Agreement shall constitute an "Event of Default" under this Note. Upon the occurrence and during the continuance of an Event of Default: subject to any cure periods in the Loan Agreement, (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 amou...nts 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. View More

Events of Default. The occurrence of any of the following events or conditions shall constitute an event of default (each an "Event of Default") under this Agreement: (a) the occurrence and continuation of an Event of Default as defined in any of the Secured Notes; (b) any representation or warranty made in this Agreement, any Secured Note or any written statement pursuant hereto or thereto or any other report, financial statement or certificate made or delivered to the Collateral Agent shall be untrue or incorrec...t in any material respect as of the date when made or deemed made; or (c) the failure or refusal by Debtor to perform, or the breach or violation of, any of any materials terms, obligations, covenants, or warranties of this Agreement and that failure or refusal continues unremedied for five (5) business days after written notice of such failure or refusal is given to Debtor. View More

Events of Default. The occurrence of any of the following events shall constitute an event of default ("Event of Default"): (a) the Borrower fails to pay the principal of or interest accrued with respect to this Loan Agreement and Note, when and as the same shall become due and payable, and such non-payment continues for a period of more than five business days after receiving a written demand for such payment from the Lender; (b) the Borrower does not comply with any provision of this Loan Agreement and Note and ...such default continues for a period of thirty days after notice requiring the same to be remedied shall have been given by the Lender to the Borrower; (c) any representation or statement made or deemed to be made by the Borrower in this Loan Agreement and Note is or proves to have been incorrect or misleading in any material respect when made or deemed to be made; (d) the Borrower (i) is unable or admits inability to pay its debts as they become due; (ii) suspends making payments on any of its debts; or (iii) by reason of actual or anticipated financial difficulties, commences negotiations with one or more of its creditors with a view to rescheduling any of its indebtedness or a moratorium is declared in respect of any indebtedness of the Borrower; or (e) a corporate action is filed legally dissolving the Borrower, whether by way of a voluntary liquidation or otherwise. View More

Events of Default. This Note shall become immediately due and payable at the option of the Holder, upon any one or more of the following events or occurrences ("Events of Default"): (a) if any portion of this Note is not paid when due; 2 (b) if the Company defaults in the observance or performance of any other material term, agreement, covenant or condition of this Note and the Company fails to remedy such default within fifteen (15) days after the date of such default, or, if such default is of such a nature that... it cannot with due diligence be cured within said fifteen (15) day period, if the Company fails, within said fifteen (15) days, to commence all steps necessary to cure such default, and fails to complete such cure within thirty (30) days after the end of such fifteen (15) day period; (c) if any final judgment for the payment of money is rendered against the Company and the Company does not discharge the same or cause it to be discharged or vacated within ninety (90) days from the entry thereof, or does not appeal therefrom or from the order, decree or process upon which or pursuant to which said judgment was granted, based or entered, and does not secure a stay of execution pending such appeal within ninety (90) days after the entry thereof or if there is an acceleration of the obligations by any of the holders of the existing indebtedness for borrowed money of the Company and the Company does not satisfy such obligations or stay such acceleration within thirty (30) days; (d) if the Company makes an assignment for the benefit of creditors or if the Company generally does not pay its debts as they become due; or (e) if a receiver, liquidator or trustee of the Company is appointed or if the Company is adjudicated a bankrupt or insolvent, or if any petition for bankruptcy, reorganization or arrangement pursuant to federal bankruptcy law, or any similar federal or state law, is filed by or against, consented to, or acquiesced in, by the Company or if any proceeding for the dissolution or liquidation of the Company is instituted; however, if such appointment, adjudication, petition or proceeding is involuntary and is not consented to by the Company, upon the same not being discharged, stayed or dismissed within sixty (60) days. View More

Events of Default. Each of the following circumstances shall constitute an event of default hereunder with respect to the Guarantor: (1)Any default by the Debtor under Principal Contract; 9 第二部分 正文/Part II Content 协议编号/Agreement Ref. No. : CL201508001-GA-3-001 (2)保证人在本协议中所作的任何陈述、保证或承诺在任何重要方面被证明是不正确的或是具有误导性的; (3)保证人违反本协议下的其他任何义务; (4)保证人发生严重影响其本协议项下履约能力的其他情形的。 9.违约处理 发生前述任一违约事件时,银行有权宣布主债权及/或债权确定期间提前到期,及/或采取以下所述之一种或多种措施: (1)宣布保证人已构成本协议项下违约,并要求限期整改; (2)要求保证人依本协议承担保证责任; (3)要求债务人或保证人提供新的担保; (4)向有管辖权的人民法院提起诉讼; (5)采取在中国法律...最大范围内所允许的其他措施。 10.通知 (1)本协议一方发往另一方的任何其他通知,均应发往本协议开头列明的地址,直到另一方书面通知更改该地址为止。只要按上述地址发送,则视为在下列日期送达:如是信函, 则按营业地址挂号寄发后的第七个营业日;如果是专程送达,则为收件人签收之日;如果为传真或电子邮件,则为传真或电子邮件发送之日。但向银行发出或交付的所有通知、要求或其它通讯均须在银行实际收到时被视为已经送达。且以传真方式向银行发出的所有通知、要求须于事后将原件以当面送交或邮寄于银行的方式加以确认。 (2)Any presentation and warranty made by the Guarantor is or proves to be incorrect or misleading in any material aspect, or the Guarantor fails to perform or comply with any stipulations hereunder in any material aspect; (3)Any other default by the Guarantor hereunder; (4)Any other circumstances occurred by the Guarantor that have material negative effect on the Guarantor's ability to fulfill its obligation under this Agreement.. 9.Disposal of Default. In case of any of the aforesaid events of default, the Bank shall have the right to declare the early-maturity of the Principal Amount under the Principal Contract and/or the Period for Claims' Determination, and/or adopt one or several measures below:- (1)Declare the default of the Guarantor under this Agreement, and require the Guarantor to make prompt correction within designated correction period; (2)Require the Guarantor to assume the guarantee obligations as provided in this Agreement; (3)Require the Debtor or the Guarantor to provide new security; (4)File an action to competent People's Court; (5)Take any other measure which is to the fullest extent allowed by PRC laws. View More

Events of Default. The occurrence of any of the following events of default ("Event of Default"), unless timely cured as set forth herein, shall, at the option of the Payee hereof, make all sums of principal and interest then remaining unpaid hereon and all other amounts payable hereunder immediately due and payable, upon demand, without presentment, all of which hereby are expressly waived, except as set forth below: 5.1. The dissolution of Payor or any vote in favor thereof by the Board of Directors and Members ...of Payor; or 5.2. Payor makes an assignment for the benefit of creditors, or files with a court of competent jurisdiction an application for appointment of a receiver or similar official with respect to it or any substantial part of its assets, or Payor files a petition or a petition is instituted against Payor seeking relief under any provision of the Federal Bankruptcy Code or any other federal or state statute now or hereafter in effect affording relief to debtors, or any such application or petition is filed against Payor, which application or petition is not dismissed or withdrawn within sixty (60) days from the date of its filing; or 5.3. Payor fails to pay the principal amount, or interest on, or any other amount payable under, this Note or any other similar Note issued to Payee, as and when the same becomes due and payable; or 5.4. Payor admits in writing its inability to pay its debts as they mature; or 3 5.5. Payor sells all or substantially all of its assets or merges or is consolidated with or into another corporation; other than a merger with or into a publicly traded corporation, or 5.6. A proceeding is commenced to foreclose a security interest or lien in any property or assets of Payor as a result of a default in the payment or performance of any debt (in excess of $100,000 and secured by such property or assets) of Payor or of any subsidiary of Payor; or 5.7. A final judgment for the payment of money in excess of $100,000 is entered against Payor by a court of competent jurisdiction, and such judgment is not discharged (nor the discharge thereof duly provided for) in accordance with its terms, nor a stay of execution thereof procured, within sixty (60) days after the date such judgment is entered, and, within such period (or such longer period during which execution of such judgment is effectively stayed), an appeal therefrom has not been prosecuted and the execution thereof caused to be stayed during such appeal; or 5.8. An attachment or garnishment is levied against the assets or properties of Payor or any subsidiary of Payor involving an amount in excess of $100,000 and such levy is not vacated, bonded or otherwise terminated within sixty (60) days after the date of its effectiveness; or 5.9. Payor defaults in the due observance or performance of any covenant, condition or agreement on the part of Payor to be observed or performed pursuant to the terms of this Note (other than the default specified in Section 5.3 above) and such default continues uncured for a period of thirty (30) days; then, upon the occurrence of any such Event of Default and at any time thereafter, the holder of this Note shall have the right (at such holder's option) to declare the principal of, accrued unpaid interest on, and all other amounts payable under this Note to be forthwith due and payable, whereupon all such amounts shall be immediately due and payable to the holder of this Note, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived; provided, however, that in case of the occurrence of an Event of Default under any of the sections above, such amounts shall become immediately due and payable without any such declaration by the holder of this Note; or 5.10. Any material representation or warranty of the Payor made herein, or in any agreement, statement or certificate given in writing pursuant hereto or in connection therewith shall be false or misleading in any material respect as of the date made; or 5.11. A default by the Payor of a material term, covenant, warranty or undertaking of any other agreement to which the Payor and the Payee are parties, or agreement made by Payor in favor of Payee, or the occurrence of any default under any such other agreement which is not cured after any required notice and/or cure period and which default may materially adversely affect the Payor's ability to pay this Note or satisfy its liability under any other obligation to the Payee or the occurrence of an "Event of Default" under any such other agreement. View More

Events of Default. The occurrence and continuation of any one or more of the following events shall constitute an event of default under this Note ("Event of Default"): (a) PAYMENT DEFAULT. The Borrower shall fail to make any required payment of principal of or interest on this Note. (b) BANKRUPTCY DEFAULT. The Borrower shall (i) commence any case, proceeding or other action relating to seeking to have an order for relief entered with respect to it or its debts, or seeking reorganization, liquidation, dissolution,... or other such relief with respect to it or its debts, or seeking appointment of a receiver or other similar official (each of the foregoing, a "Bankruptcy Action"); (ii) become the debtor named in any Bankruptcy Action which results in the entry of an order for relief or any such adjudication or appointment described in the immediately preceding clause (i); or (iii) make a general assignment for the benefit of its creditors. In each and every Event of Default under clause (a) or (b) of this Section 2, the Lender may, without limiting any other rights it may have at law or in equity, by written notice to the Borrower, declare the unpaid principal of and interest on this Note due and payable, whereupon the same shall be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which the Borrower hereby expressly waives, and the Lender may proceed to enforce payment of such principal and interest or any part thereof in such manner as it may elect in its discretion. In each and every Event of Default, the unpaid principal of and interest on this Note shall be immediately due and payable without presentment, demand, protest or notice of any kind, all of which the Borrower hereby expressly waives, and the Lender may proceed to enforce payment of such principal and interest or any part thereof in such manner as it may elect in its discretion. View More

Events of Default. So long as this Note will remain unpaid in whole or in part as to either principal or interest, each of the following will constitute an "Event of Default" under this Note: (a) the commencement of an involuntary case or other proceeding against the Company seeking liquidation, reorganization, or other relief with respect to it or its debts under any applicable bankruptcy, insolvency, or other similar law now or hereafter in effect, or seeking the appointment of a receiver, liquidator, assignee, ...custodian, trustee, sequestrator (or similar official) of the Company, or for any substantial part of the property of the Company or the winding up or liquidation of the affairs of the Company, and such case or proceeding remains unstayed and undismissed for a period of sixty (60) days, or an order for relief is entered against the Company under the federal bankruptcy laws as now or hereafter in effect; (b) the commencement by the Company of a voluntary case under any applicable bankruptcy, insolvency, or other similar law now or hereafter in effect, or consent to the entry of an order for relief in an involuntary case under any such law, or consent to the appointment or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of the Company, or for any substantial part of the property of the Company, or the Company makes any general assignment for the benefit of creditors, or fails generally to pay its debts as they come due, or takes any corporate action to authorize any of the foregoing; or (c) failure on the part of the Company to observe or perform any of the terms or covenants contained in this Note and continuance of such failure for a period of sixty (60) days following receipt of notice from the Holders specifying such covenant and the nature of the Company's non-performance. View More

Events of Default. The occurrence of any of the following events ("Events of Default") shall constitute a default under this Agreement and, at the option of Lender, shall make all obligations of Borrower to Lender under or in respect of advances and all other sums outstanding under or in respect of this Agreement and any instrument or agreement required under this Agreement immediately due and payable, without notice of default, presentment or demand for payment, protest or notice of nonpayment or dishonor, or oth...er notices or demand of any kind or character: 5.1 Borrower fails to pay any installments as required by the Note, which failure to pay is not cured within ten (10) calendar days after written notice of such failure is given to Borrower as provided in the Note; 5.2 Any representation or warranty in this Agreement, or in any agreement or instrument executed in connection with this Agreement, proves false or misleading in any material respect when made; 5.3 A judgment or judgments is entered against Borrower in the aggregate amount of Fifty Thousand Dollars and Zero Cents ($50,000.00) or more on a claim or claims not covered by insurance; 5.4 Borrower files any petition, proceeding, case or action for relief under any bankruptcy, reorganization, insolvency, or moratorium law, or any other law or laws for the relief of, or relating to, debtors; 2 5.5 An involuntary petition is filed under any bankruptcy or similar statute against Borrower or a receiver, trustee, liquidator, assignee, custodian, sequestrator, or other similar official is appointed to take possession of the properties of Borrower and such action is not dismissed or such official is not removed within ninety (90) days; 5.6 Borrower defaults under any provision of the Loan Documents not specifically referred to in this Section 5; 5.7 The breach of any covenant, warranty, promise or representation contained herein or in any exhibit hereto; and 5.8 Borrower utilizes funds loaned under this Agreement for any purpose other than as set forth in this Agreement. All remedies of Lender provided for herein are cumulative and shall be in addition to all other rights and remedies under any of the Loan Documents or otherwise provided by law. The exercise of any right or remedy by Lender hereunder shall not in any way constitute a cure or waiver of default hereunder or under any other agreement or invalidate any act pursuant to any notice of default, or prejudice Lender in the exercise of any of its right hereunder or any other document described herein. View More