Default Events Clause Samples

Default Events. 5.1 The following circumstances shall constitute a Default Event: 5.1.1 failure by the Grant Recipient to comply with its obligations in Condition 3 Condition 8.5 or Condition 12 and/or any information supplied in connection with its obligations in Condition 3 Condition 8.5 or Condition 12, whether in relation to the Contract Monitoring Outputs or otherwise is materially deficient, misleading or inaccurate; 5.1.2 the Grant Recipient is unable to make the representations and give the warranties set out in this Agreement (in any case in whole or in part) and there is a resulting Material Adverse Effect in relation to: (a) the Approved Bid; or (b) a Named Project; 5.1.3 the Grant Recipient is subject to a Section 15 Direction or a Section 114 Report which has or will have a Material Adverse Effect; 5.1.4 a Prohibited Act has been committed by or on behalf of the Grant Recipient (in respect of which the Waiver Condition has not been satisfied); 5.1.5 a breach of the Open Book Obligations; 5.1.6 the GLA determines (acting reasonably) that proper progress against the Grant Recipient's projections in the Approved Bid has not been made by the Grant Recipient in delivering the Approved Bid; 5.1.7 the Grant Recipient ceases operating; 5.1.8 the Grant Recipient's status as a Registered Provider is lost, relinquished or removed; 5.1.9 the Grant Recipient's Investment Partner status is lost or removed in its entirety; 5.1.10 the Regulator directs or recommends that grant is not to be paid to the Grant Recipient or the GLA understands that such a direction or recommendation is likely to be made; 5.1.11 a breach of Condition 8 or Condition 16 or a breach of the RHP Minimum Standards in respect of a Named Project; 5.1.12 a failure or inability by the Grant Recipient to comply with: (a) the requirements of Condition 10; or (b) any obligation to pay or repay any amounts due under this Agreement; 5.1.13 any other breach of the Agreement which has a Material Adverse Effect; 5.1.14 the Grant Recipient (either by its own actions or omissions, or those of its contractors or agents) ▇▇▇▇▇ the GLA's, the RHP's reputation or the Mayor of London's reputation or brings the GLA, the RHP or the Mayor of London into disrepute; and 5.1.15 any of the following events or circumstances occur: (a) a breach of the Estate Regeneration Requirement; (b) the Grant Recipient has failed to comply with the Estate Regeneration Requirement in circumstances where in the GLA's reasonable opinion the Est...

Default Events. In the event of a default as defined in the applicable SLA by a borrower with respect to any loan entered into pursuant to an SLA, GSAL will, and is hereby authorized by each Lender to, exercise on Lender's behalf, in its discretion and without prior notification to Lender, any and all remedies provided thereunder or available under applicable law. In addition, the following applies: (a) If a borrower fails in respect of any loan of securities effected pursuant hereto and pursuant to the applicable SLA to return any securities on loan when due thereunder (the “Return Date”), then GSAL shall, at its expense, but subject to Section 12(e) and (g) hereof, deposit replacement securities of the same issue, type, class and series as that of the loaned securities to the Lender’s account with Custodian, as soon as practicable. If GSAL is unable to obtain replacement securities, GSAL shall at its expense, but subject to Sections 12(e) and (g) hereof, pay Lender in U.S. dollars with the Market Value of such securities on loan on the Credit Date (as defined below). To the extent that GSAL deposits replacement securities or make payments pursuant to this Section 12(a), GSAL shall be subrogated to Lender’s rights against borrower as provided in Section 12(g). (b) If a borrower fails to pay the amount of cash Distributions with respect to securities on loan that Lender would have received had such securities not been on loan, GSAL shall pay Lender the amount of such cash Distributions plus the amount of any overdraft charges charged by the Custodian. For purposes of this section 12, “Distributions” shall mean interest, dividends and other distributions (including, but not limited to, payments made by the depositary in connection with American Depositary Receipts). To the extent that GSAL has made any payments pursuant to this Section 12(b), GSAL shall be subrogated to Lender’s rights against Borrower as provided in Section 12(g). The foregoing shall, subject to Section 12(g), be at GSAL’s expense.

Default Events. The occurrence of any one of the following events shall constitute a default and breach of this Agreement by Tenant: 1. The vacating or abandonment of the Leased Premises by Tenant. Failure to occupy and operate the Leased Premises for ten (10) consecutive days shall be deemed an abandonment and vacation; 2. The failure to report as required by Section 9 of this Agreement; 3. If the Tenant fails to observe or fails to perform, or violates any of the covenants, conditions or provisions of this Lease, and if such failure or violation is not cured within five (5) days after written notice has been sent to Tenant, unless the default cannot reasonably be cured within five (5) days and Tenant takes action to cure the default within the five (5) day period and diligently and in good faith continues to cure the default; 4. The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the petition is dismissed within sixty (60) days); the taking of possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Agreement, where possession is not restored to Tenant within thirty (30) days; or the attachment, execution or other judicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Agreement where such seizure is not discharged within thirty (30) days; 5. Failure to pay rent or any other sums payable by Tenant under this Lease when due after Landlord provides Tenant with written notice of such failure to pay and Tenant fails to cure after five (5) days of receipt of such notice; 6. Any representation or warranty by Tenant was materially false or inaccurate at the time of the execution of this Lease.

Default Events. The Principal Debtor shall immediately give notice to the Crown of any Default Event or any circumstance or event which, with the passage of time, the giving of notice or the taking of any other action would, or would be likely to, constitute or give rise to a Default Event.

Default Events. Either party may on written notice to the other party terminate the Agreement, if the other party: (a) has materially breached any of its obligations or breaches a material obligation under the Agreement, where either the breach is not capable of being rectified or has not been rectified within 20 Working Days of the first party giving written notice specifying that it has the right to terminate under this clause if the breach is not rectified; (b) has purported to assign its rights or obligations otherwise than in accordance with clause 17 (Assignment and subcontracting); (c) goes into liquidation or has a receiver, administrator, statutory manager or similar officer appointed in respect of it (other than for the purpose of a solvent amalgamation or reconstruction); (d) is or is deemed to be unable to pay its debts as they become due, or proposes or enters into any arrangement, compromise or composition with its creditors; or (e) is subject to an event of Force Majeure that materially affects its performance of the Agreement and continues for more than 20 Working Days.

Default Events. 7.1 A Default Event occurs, if 7.1.1 N-S Digital TV or its successor or transferee and/or the ▇▇▇▇▇▇▇ or his successor or transferee fails to perform its or his obligations under the Agreements; 7.1.2 any representation or warranty made by the ▇▇▇▇▇▇▇ in Section 5 hereof is substantially misleading or mistaken, and/or the ▇▇▇▇▇▇▇ violates any of his representations and warranties made in Section 5 hereof; 7.1.3 the ▇▇▇▇▇▇▇ violates any of his undertakings in Section 6 hereof; 7.1.4 the ▇▇▇▇▇▇▇ violates any provisions herein; 7.1.5 except with agreement made under Section 6.1.1 hereof, the ▇▇▇▇▇▇▇ abandons, or transfers without written approval of the Pledgee, the pledged Equity; 7.1.6 any loan, security, compensation, undertaking or other liability owed or made by the ▇▇▇▇▇▇▇ to any third party (1) is required to be discharged or performed early as a result of default; or (2) has become due but cannot be discharged or performed in due time and, in the opinion of the Pledgee, the ability of the ▇▇▇▇▇▇▇ to perform his obligations hereunder has been affected; 7.1.7 the ▇▇▇▇▇▇▇ is unable to discharge his ordinary debts or any other liabilities; 7.1.8 the enactment of any laws or regulations causes invalidity of this Agreement or makes the ▇▇▇▇▇▇▇ unable to continue the performance of his obligations hereunder; 7.1.9 any ratification, license, approval or authorization by the government that is required for the enforceability or validity or effectiveness of this Agreement is withdrawn, suspended, substantially amended or has lapsed; 7.1.10 any unfavorable change occurs to the ▇▇▇▇▇▇▇’▇ property and, in the opinion of the Pledgee, the ability of the ▇▇▇▇▇▇▇ to perform his obligations hereunder has been affected by such change; or 7.1.11 in any other cases where, according to the relevant statutory provisions, the Pledgee becomes unable to exercise its Right of Pledge. 7.2 Upon becoming aware of or discovering the occurrence of any Default Event or of any event that may cause the occurrence of any Default Event set forth in Section 7.1, the ▇▇▇▇▇▇▇ shall immediately inform in writing the Pledgee of such occurrence. 7.3 In the case of any Default Event, unless such Default Event has been settled to the satisfaction of the Pledgee, the Pledgee may, upon the occurrence of the Default Event or at any time after such occurrence, give the ▇▇▇▇▇▇▇ a written Notice of Default, requiring the ▇▇▇▇▇▇▇ to pay off immediately all debts and other amounts payable under the Agre...

Default Events. A Party is in default under this Agreement if any of the following occurs (each an “Event of Default”): (a) a Party becomes insolvent, liquidates, is adjudicated as bankrupt, makes an assignment for the benefit of creditors, invokes any provision of law for the relief of debtors or initiates any proceeding seeking protection from its creditors; or (b) a Party violates any legal requirement relating to the provision or receipt of Service, and the violation is not remedied within thirty (30) days of receipt of written notice of the violation; (c) except as may otherwise be provided in an Exhibit, a Party fails to perform a material obligation under this Agreement (other than the payment of money), and the failure is not remedied within thirty (30) days of receipt of written notice of the failure. A failure of Service is not a default entitling Customer to terminate the affected Service or this Agreement; or (d) Customer fails to pay any amounts due hereunder, and the failure is not remedied within ten (10) days of written notice of the failure; provided, however, Syringa Networks shall not be required to provide such notice more than two times in any twelve- month period and such failure to pay when due thereafter shall be deemed an Event of Default without notice.

Default Events. 13.1 Each of the following is an Event of Default under this Agreement: a) you fail to pay any one or more Instalments in whole or in part and also fail to comply with any subsequent notice by us requiring payment to be made; b) you fail to pay any one or more Instalments in whole or in part and also fail to meet a subsequent undertaking (written or oral) given by you to us to remedy the default; c) you default in complying with any of your obligations under clause 11 (Insurance); d) you purport to assign or in any way deal with the Goods or any of your rights under the Agreement; e) the Goods are lost or destroyed or we form the opinion that they are so damaged as to make their repair uneconomical; f) you default in complying with any obligation under the Agreement (except where there is an event described in subclauses 13.1(a) to 13.1(e) above) and the default is not remedied within 14 days of us giving you notice of the default; g) you are a corporation and action is taken by you or another person on the basis that you are insolvent or unable to pay your debts when they are due, including any application for the appointment of a liquidator, receiver or administrator; h) you are an individual and you die or become incapable of managing your own affairs by reason of mental illness or other condition, or you become or become liable to be declared bankrupt; i) you are a partnership and the partnership is dissolved or an application is made to a court for dissolution of the partnership; j) the holder of any security over any of your assets becomes entitled to exercise any powers arising on default pursuant to that security or otherwise take action to enforce the security; k) you cease to have the benefit of an ASIC class-order guarantee or similar intercompany guarantee which existed at that the time you entered into this Agreement; l) an event described in subclauses 13.1(g) to 13.1(k) occurs in relation to any guarantor of any of your obligations under the Agreement; m) any warranty given or representation made by you in relation to the Agreement is false; and / or n) we have, at our discretion, determined that there has been a change in the credit risk associated with the Agreement from that which we assessed before the Agreement was entered into (including a change of any Controlling Person whether of you or of any guarantor of any of your obligations under the Agreement) and no agreement is made with you as to a change to the terms of the Agreement whic...

Default Events. Article 45 Any of the following events shall be deemed to constitute the default events of this contract: 1. The Borrower fails to pay the interests and the principal as stipulated in this contract; 2. The Borrower fails to use the loan for the purposes as specified herein; 3. The loan capital is not paid in the way as agreed; 4. Beyond the agreed financial indicators (as per the requirements for credit approval); 5. In case of major cross default events. 6. The Borrower has provided the Lending Bank with a Balance Sheet, Statement of Profits or Losses or other financial reports that are false or conceal significant truths, or refuses to accept the supervision and examination over its use of the loan, production and operations and financial activities; 7. The representation, warranty or commitment made by the Borrower or Guarantor under this contract or the representation, warranty or commitment made under some security contract have been justified as unreal or misleading; 8. The Borrower or the Guarantor breaches other contracts where it is a party. 9. The business and financial status of the Borrower or Guarantor seriously deteriorate; 10. The collateral, pledge/pledge rights related to the loan hereunder is devaluated, destroyed or lost; 11. The Borrower fails to make repayment arrangements or liability reorganization plan satisfying the Lending Bank when the Borrower or Guarantor is merged or split or undergoing a shareholding reform; 12. The Borrower or Guarantor becomes bankrupt, dissolved, shut down or have its licenses repealed, suspended and written off. 13. The Borrower fails to inform the Lending Bank of the following: (1) Major alterations to the articles of association and any material changes to its business activities; (2) Major modification to the accounting principals; (3) Any major changes to the financial, economic and other aspects of its affiliates or parent company; 14. The Borrower is involved in any lawsuit, arbitration or administrative procedures that may have serious adverse impact on the financial status of the Borrower or the ability of the Borrower in performing its obligations pursuant to this contract.