ACCELERATED MATURITY Sample Clauses

ACCELERATED MATURITY. 7.1 Without prejudice to any of its other rights and obligations, the Lender may, at its option, terminate all of its obligations under this Agreement with immediate effect, and demand immediate payment of all of its claims under this Agreement in their nominal amount, by notifying the Borrower in writing if one of the following events (a “Ground for Repayment”) occurs: a. Any of the following occurs in respect of a member of the JV Group: (i) any step is taken with a view to a moratorium or a composition, assignment or similar arrangement with any of its creditors; (ii) a meeting of its shareholders, directors or other officers is convened for the purpose of considering any resolution for, to petition for or to file documents with a court or any registrar for, its bankruptcy, suspension of payment, winding-up, administration or dissolution or any such resolution is passed; (iii) any person presents a petition, or files documents with a court or any registrar, for its bankruptcy, suspension of payment, winding-up, administration or dissolution; (iv) an order for its winding-up, administration or dissolution is made; (v) any liquidator, trustee in bankruptcy, judicial custodian, compulsory manager, receiver, administrative receiver, administrator or similar officer is appointed in respect of it or any of its assets; (vi) its shareholders, directors or other officers request the appointment of, or give notice of their intention to appoint, a liquidator, trustee in bankruptcy, judicial custodian, compulsory manager, receiver, administrative receiver, administrator or similar officer; or (vii) any other analogous step or procedure is taken in any jurisdiction. The above does not apply to any petition for winding-up, administration or dissolution presented by a creditor which is being contested in good faith and with due diligence and is discharged or struck out within 10 Business Days. b. The JV Group’s business has been discontinued, or the JV Group’s business has, or one or more assets of the JV Group with a (total) book value exceeding 10% (ten percent) of the book value of all of the assets of the JV Group have been transferred to a third party outside the normal course of the Borrower’s business and without the consent of the Lender, or one or more assets of the JV Group with a (total) book value exceeding 10% (ten percent) of the book value of all of the assets of the JV Group has become subject to a limited right or attachment. c. Any member of the JV G...

ACCELERATED MATURITY. The parties hereto agree that, in the terms provided by the FOURTH clause for compliance with the MERCHANT’s payment obligations, the same shall have accelerated maturity in the event that the MERCHANT or the corporations identified as the Guarantor Group do not sign the agreements and the New Bond referred to in Paragraph d) of the FIFTH clause, Paragraphs a) and d) of the SIXTH clause, the EIGHTH clause and Paragraph a) of the TENTH clause of this Creditors’ Agreement within a term of 15 (fifteen) working days as of the date of the Publication Date of Approval, expressly agreeing that the expiration of the term shall not take place by lack of signing of said agreements by the other parties hereto. El Sol de Durango DURANGO, DGO., MONDAY, MAY 3, 2004

ACCELERATED MATURITY. If this Note is declared due and payable before its express maturity because of the occurrence of an event of default as defined in this Note, the Holder will be entitled to payment only after there is first paid in full on the then outstanding Senior Indebtedness all principal and interest then due and payable by acceleration or otherwise, or after payment shall be provided for in a manner satisfactory to the holders of such Senior Indebtedness.

ACCELERATED MATURITY. The totality of all sums due, including principal, interest, costs and ancillary expenses hereunder shall become immediately payable and no further fund take-up may be sought from Bank in the event of the placing of Borrower in liquidation by court order, cessation of its business or activity, or in the circumstances of default for which provision is made in law. Similarly, no further loan fund take-up may be sought from Bank and/or Bank may declare the Loan to be immediately repayable before its term fifteen days after notice has been given to Borrower by letter sent registered or certified mail, return receipt requested, no legal formality being required therefor, in the event of the occurrence of any of the following circumstances: - non-payment at the due date of any sum falling due, - gravely reprehensible behavior on the part of Borrower, as in the case in which its situation should become irremediably compromised in the meaning of Article L.313-12 of the French Code of Monetary and Financial Law [Code Monétaire et Financier]; - if one of the representations made by Borrower hereunder or any written affidavit made by an authorized agent of Borrower for the purposes hereof is shown to have been inaccurate at the time the statement was made or reiterated, or ceases to be accurate with regard to any matter that is of the essence; - merger, corporate split, voluntary liquidation or winding up of the business of Borrower; - sale or assignment of the business of Borrower in connection with a voluntary or forced bankruptcy procedure, - change in the corporate form of Borrower or in the stated purpose of its business or transfer of its principal place of business to a location outside metropolitan France without the agreement of Bank; - where interest and commission on the Loan become assessable for a tax of any kind for which they are not currently assessable, unless Borrower bears this fiscal expense in a manner such that Bank has no liability therefor; - failure by Borrower to pay any sum at the due date to any person, and notably Borrower’s contributions, taxes, social charges and other amounts, where this is likely to lead to consequences that are manifestly prejudicial to due redemption of the Loan; - major change in the corporate character, capacity or assets of Borrower, in addition to its legal, financial, industrial or commercial structure, unless this has been expressly agreed by Bank; - where a payment default by Borrower is declared to the Banqu...

ACCELERATED MATURITY. The Lender may impose total acceleration of the loan eight days after notification by registered letter or extrajudicial act in one of the following cases:

ACCELERATED MATURITY. The Maturity Date of the Term Loans will be accelerated, automatically and without any action on the part of Borrower, Administrative Agent or any Lender, to April 2, 2010 unless, prior to January 1, 2010, either (a) Borrower refinances the Convertible Subordinated Notes, in whole and not in part, with new Subordinated Debt having a maturity date not earlier than 120 days after the Maturity Date of the Term Loans (provided that in the event Indebtedness under the Second Lien Loan Agreement (or any refinancing or replacement thereof pursuant to Section 7.10(c)) contains a provision similar to this Section 2.12, the maturity date of such new Subordinated Debt must be no earlier than the maturity date required pursuant to the Second Lien Loan Agreement (or other agreement relating to the refinancing or replacement thereof) to not cause an accelerated maturity date thereunder), or (b) the Convertible Subordinated Notes have been converted to equity, in whole and not in part, and in either such case, Borrower has delivered evidence thereof reasonably satisfactory to Administrative Agent.

ACCELERATED MATURITY. Without prejudice to any of its other rights and obligations, the Payee may, at its option, terminate all of its obligations under this Note with immediate effect, and demand immediate payment of all of its claims under this Note in their nominal amount, by notifying the Obligor in writing, if (i) the Obligor does not pay on the due date any amount payable pursuant to the Note at the place and in the currency in which it is expressed to be payable, or (ii) any corporate action, legal proceedings or other procedure or steps (including the appointment of any liquidator, receiver, administrator or similar officer) is taken in relation to, the winding up, dissolution, administration or reorganisation of the Obligor or any #10338536v8 suspension of payments or bankruptcy or moratorium or settlement of any indebtedness of any Obligor, or any analogous procedure or step is taken in any jurisdiction.

ACCELERATED MATURITY obligation to repay to remain subordinate. (i) Subject to the provisions of paragraph (b)(8) of this appendix, a subordination agree- ment may provide that the lender may, upon prior written notice to the broker or dealer and the Examining Authority given not earlier than six months after the effective date of such subordination agreement, accelerate the date on which the Payment Obligation of the broker or dealer, together with accrued interest or compensation, is scheduled to mature to a date not earlier than six months after the giving of such notice, but the right of the lender to receive Payment, together with accrued inter- est or compensation, shall remain sub- ordinate as required by the provisions of 17 CFR 240.15c3–1 and 240.15c3–1d. (ii) Notwithstanding the provisions of paragraph (b)(8) of this appendix, the Payment Obligation of the broker or dealer with respect to a subordination agreement, together with accrued in- terest and compensation, shall mature in the event of any receivership, insol- vency, liquidation pursuant to the Se- curities Investor Protection Act of 1970 or otherwise, bankruptcy, assignment for the benefit of creditors, reorganiza- tion whether or not pursuant to the bankruptcy laws, or any other mar- shalling of the assets and liabilities of the broker or dealer but the right of the lender to receive Payment, to- gether with accrued interest or com- pensation, shall remain subordinate as required by the provisions of 17 CFR 240.15c3–1 and 240.15c3–1d.

ACCELERATED MATURITY. The loan shall be due for instant repayment, if the Bank should be obliged to repayment to the KfW or if participation in the repayment should be recalled. Premature repayment of the loan shall require the Bank’s prior content, unless caused by complete or partial termination of participation by the Receiver of Capital Investment. The Bank shall be entitled to pre–payment indemnity in cases of premature repayment of the loan on prior consent.