Common use of Default Events Clause in Contracts

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by the government that is required for the enforceability or validity or effectiveness of this Agreement is withdrawn, suspended, substantially amended or has lapsed; 7.1.10 any unfavorable change occurs to the ▇▇▇▇▇▇▇’▇ property and, in the opinion of the Pledgee, the ability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 Agreements or to promptly perform and/or cause N-S Digital TV to perform the Agreements. If the ▇▇▇▇▇▇▇ or N-S Digital TV fails to correct his or its default or to adopt necessary remedial measures within 10 days from the date of the Notice of Default, the Pledgee is entitled to exercise the Right of Pledge according to Section 8 hereof.

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 fully pay off on time the loan under the AgreementsLoan Agreement (Appendix 1); 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; 7.1.11 the successor or custodian of the ▇▇▇▇▇▇▇ can perform only part of or refuses to perform the payment liability under the Loan Agreement (Appendix 1); or 7.1.11 7.1.12 in any other cases where, according to the relevant statutory provisions, the Pledgee becomes become 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 7.1Event, 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 the loan and other amounts payable under the Agreements Loan Agreement (Appendix 1), or to promptly perform and/or cause N-S Digital TV to perform the Agreements. If the ▇▇▇▇▇▇▇ or N-S Digital TV fails to correct his or its default or to adopt necessary remedial measures within 10 days from the date of the Notice of Default, the Pledgee is entitled to exercise the Right of Pledge according to Section 8 hereof.

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 fully pay off on time the loan under the AgreementsLoan Agreement (Appendix 1) and the Loan Agreement (Appendix 2); 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; 7.1.11 the successor or custodian of the ▇▇▇▇▇▇▇ can perform only part of or refuses to perform the payment liability under the Loan Agreement (Appendix 1) and the Loan Agreement (Appendix 2); or 7.1.11 7.1.12 in any other cases where, according to the relevant statutory provisions, the Pledgee becomes become 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 7.1Event, 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 the loan and other amounts payable under the Agreements Loan Agreement (Appendix 1) and the Loan Agreement (Appendix 2), or to promptly perform and/or cause N-S Digital TV to perform the Agreements. If the ▇▇▇▇▇▇▇ or N-S Digital TV fails to correct his or its default or to adopt necessary remedial measures within 10 days from the date of the Notice of Default, the Pledgee is entitled to exercise the Right of Pledge according to Section 8 hereof.