1Events of Default Sample Clauses
1Events of Default. Each of the following shall be an “Event of Default”:
(a) The Borrower shall fail to pay when due the amounts required to be paid under this Agreement or the Note when the same shall become due and payable in accordance with the terms of this Agreement or the Note, including a failure to repay any amounts which have been previously paid but are recovered, attached or enjoined pursuant to any insolvency, receivership, liquidation or similar proceedings; or
(b) The Borrower shall fail to perform or observe any of its covenants or agreements contained in this Agreement, the Regulatory Agreement, the Indenture, the Note or the Deed of Trust, other than as specified in paragraph (a) above, and such failure shall continue during and after the period specified in Section 7.2;
(c) Any representation or warranty of the Borrower shall be determined by the Trustee or the Authority to have been false in any material respect when made;
(d) The Borrower shall generally not pay its debts as they become due, or shall admit in writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors or shall institute any proceeding or voluntary case seeking to adjudicate it a bankrupt or insolvent or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief or protection of debtors, or seeking the entry of an order for relief or the appointment of a receiver, trustee, custodian or other similar official for it or for any substantial part of its property; or the Borrower shall take any action to authorize any of the actions described above in this paragraph (d), or any proceeding shall be instituted against the Borrower seeking to adjudicate it a bankrupt or insolvent or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief or protection of debtors, or seeking the entry of an order for relief or the appointment of a receiver, trustee, custodian or other similar official for it or for any substantial part of its property, and, if such proceeding is being contested by the Borrower in good faith, such proceeding shall remain undismissed or unstayed for a period of 60 days; or
(e) An event of default shall have occurred under Section 11.1 of the I...
1Events of Default.
(a) If default occurs in payment when due of any principal amount payable under this Debenture.
(b) If default occurs in payment when due of any interest, fees or other amounts payable under this Debenture and remains unremedied for a period of five Business Days after the receipt by the Corporation of notice of such default.
(c) If default occurs in payment or performance of any other Obligation (whether arising herein or otherwise) and remains unremedied for a period of sixty days after the receipt by the Corporation of notice of such default.
(d) If default occurs in performance of any other covenant of the Corporation or any Guarantor in favour of the Lender under this Debenture and remains unremedied for a period of sixty days after the receipt by the Corporation of notice of such default.
(e) If an event of default occurs in payment or performance of any obligation in favour of any Person from whom the Corporation or any Guarantor has borrowed in excess of $250,000 which would entitle the holder to accelerate repayment of the borrowed money, and such default is not remedied or waived in writing within sixty days of the occurrence of such default.
(f) If the Corporation or any Guarantor commits an act of bankruptcy or becomes insolvent within the meaning of any bankruptcy or insolvency legislation applicable to it or a petition or other process for the bankruptcy of the Corporation or any Guarantor is filed or instituted and remains undismissed or unstayed for a period of sixty days or any of the relief sought in such proceeding (including the entry of an order for relief against it or the appointment of a receiver, trustee, custodian or other similar official for it or any substantial part of its property) shall occur.
(g) If any act, matter or thing is done toward, or any action or proceeding is launched or taken to terminate the corporate existence of the Corporation, or any Guarantor, whether by winding‒up, surrender of charter or otherwise.
(h) If the Corporation or any Guarantor ceases to carry on its business or makes or proposes to make any sale of its assets in bulk or any sale of its assets out of the usual course of its business unless expressly permitted herein or otherwise by the Lender in writing. LEGAL*52823942.10
(i) If any proposal is made or any petition is filed by or against the Corporation or any Guarantor under any law having for its purpose the extension of time for payment, composition or compromise of the liabili...
1Events of Default. If any one or more of the following conditions or events shall occur:
1Events of Default. An Event of Default means the occurrence or existence of any one or more of the following events or conditions (whatever the reason therefor and whether voluntary, involuntary or effected by operation of Law):
1Events of Default. An “Event of Default” shall mean, with respect to a Party (the “Defaulting Party”) that is subject to the Event of Default the occurrence of any of the following: the failure by such Party to make, when due, any payment required pursuant to this Agreement and such failure is not remedied within ten (10) Business Days after Notice thereof; any representation or warranty made by such Party herein is false or misleading in any material respect when made or when deemed made or repeated, and such default is not remedied within thirty (30) days after Notice thereof (or such longer additional period, not to exceed an additional sixty (60) days, if the Defaulting Party is unable to remedy such default within such initial thirty (30) days period despite diligently seeking a cure); the failure by such Party to perform any material covenant or obligation set forth in this Agreement (except to the extent constituting a separate Event of Default set forth in this Section 11.1; and except for failures related to the Adjusted Energy Production that do not trigger the provisions of Section 11.1(b)(iii), the exclusive remedies for which are set forth in Section 4.8) and such failure is not remedied within thirty (30) days after Notice thereof (or such longer additional period, not to exceed an additional ninety (90) days, if the Defaulting Party is unable to remedy such default within such initial thirty (30) days period despite diligently seeking a cure); such Party becomes Bankrupt; such Party assigns this Agreement or any of its rights hereunder other than in compliance with Section 14.2 or 14.3, as appropriate; or such Party consolidates or amalgamates with, or merges with or into, or transfers all or substantially all of its assets to, another entity and, at the time of such consolidation, amalgamation, merger or transfer, the resulting, surviving or transferee entity fails to assume all the obligations of such Party under this Agreement to which it or its predecessor was a party by operation of Law or pursuant to an agreement reasonably satisfactory to the other Party. with respect to Seller as the Defaulting Party, the occurrence of any of the following: if at any time, Seller delivers or attempts to deliver electric energy to the Delivery Point for sale under this Agreement that was not generated by the Facility; the failure by Seller to achieve Commercial Operation within ninety (90) days following the Guaranteed Commercial Operation Date; if not remedied within t...
1Events of Default. So long as any part of the Obligations remain unpaid (including principal, interest or otherwise), any one or more of the following constitute an “Event of Default” as the term is used herein:
(a) Failure of the Loan Parties to pay (i) any principal of the Loan when the same becomes due and payable, (ii) any interest on the Loan payable under this Agreement within three Business Days of the date the same becomes due and payable and (iii) any fees and expenses payable under this Agreement or any other Loan Document within ten Business Days of the date the same becomes due and payable;
(b) any breach or default by any Loan Party with respect to any Indebtedness having an aggregate principal amount in excess of $100,000, and the holder of such Indebtedness exercises, its right to declare such Indebtedness due prior to its stated maturity solely as a result of such breach or default;
(c) Default occurs in the observance or performance by any Loan Party of any term, covenant (other than the provisions explicitly set forth in Section 8.1(d)) or other provision of this Agreement, or any other Loan Document and such default is not remedied within thirty (30) days after the earlier of (i) the date on which a Responsible Officer of any Loan Party acquires knowledge thereof, and (ii) the date notice thereof shall have been given by Agent to Borrower;
(d) Default occurs in the observance or performance by the Loan Parties of (i) Sections 6.2, Section 6.4(a), (f) and (h) and Section 6.5(b) and (c) and such default is not remedied within fifteen (15) days after the earlier of (A) the date on which a Responsible Officer of a Loan Party acquires knowledge thereof, and (B) the date notice thereof shall have been given by Agent to Borrower or (ii) Section 6.4 (except as otherwise provided above), Section 6.5(a), Section 6.7, Section 6.9, Section 6.10, Section 6.13, Section 6.14 or any covenant contained in Section 7 of this Agreement;
(e) If any representation or warranty made by any Loan Party in this Agreement or any other Loan Document, or made by any Loan Party in any exhibit, statement or certificate attached to this Agreement or furnished to the Lender in connection with this Agreement or any other Loan Document, proves untrue in any material respect on the date as of which made;
(f) an Insolvency Proceeding is commenced by any Loan Party;
(g) If an Insolvency Proceeding is commenced against any Loan Party and any of the following events occur: (a) such Person consent...
1Events of Default. Each of the following shall constitute an Event of Default under this Agreement:
1Events of Default. The occurrence of any of the following events or conditions shall constitute an event of default (an "Event of Default") by Borrower under the Loan Documents:
1Events of Default. If any one or more of the following events (each, an “Event of Default”) shall occur and be continuing:
(i) Borrower shall fail to pay any principal of any Loan when due in accordance with the terms hereof; or
(ii) Borrower shall fail to pay any interest on any Loan or any Credit Party shall fail to pay any other amount (other than principal) payable hereunder or under any other Loan Document, within three (3) Business Days after any such interest or other amount becomes due in accordance with the terms hereof or thereof; or
(b) any representation or warranty made or deemed made by any Credit Party herein or in any other Loan Document or that is contained in any certificate, document or financial or other statement required to be furnished by such Credit Party at any time under this Agreement or any such other Loan Document shall prove to have been inaccurate in any material respect on or as of the date made or deemed made or furnished; provided, that, in each case, such materiality qualifier shall not be applicable with respect to any representation or warranty that is qualified or modified by materiality or Material Adverse Effect; or
(i) any Credit Party shall fail or neglect to perform, keep or observe any of the covenants, promises, agreements, requirements, conditions or other terms or provisions contained in Sections 7.1(a)(i) (with respect to valid existence), 7.3 (other than clauses (c), (d) or (e)), 7.5(a), 7.13, 7.17, 7.18, 7.19, 7.27, 8.1, 8.2, Sections 9.1 through Section 9.13 and Section 10.7 of this Agreement; or (ii) any Credit Party shall fail or neglect to perform, keep or observe any of the other covenants, promises, agreements, requirements, conditions or other terms or provisions contained in this Agreement (other than those set forth in the Sections referred to in clause (i) immediately above) or any of the other Loan Documents and such breach is not remediable or, if remediable, continues unremedied for a period of thirty (30) days after the earlier to occur of (x) the date on which any officer of any Credit Party becomes aware of such breach and (y) the date on which Agent shall have notified any Credit Party of such breach; or
(d) this Agreement or any other Loan Document shall not be for any reason, or shall be asserted by any Credit Party not to be, in full force and effect in all material respects in accordance with its terms or the Lien granted or intended to be granted to Agent pursuant to this Agreement or any other Loan Docu...
1Events of Default. Each of the following shall be deemed an “Event of Default”: