Definition of Events of Default Clause Samples

Definition of Events of Default. An "Event of Default" under this Bond Agreement shall mean any one or more of the following events:

Definition of Events of Default. The occurrence of any of the following events will constitute an event of default (an “Event of Default”) against the Borrower: (a) any principal or interest amount due to CDC under Tranche C is unpaid on its due date and remains unpaid five (5) Working Days after written notification is sent to this effect by CDC to the Borrower; (b) one of the covenants made by the Borrower in Article 6 (Covenants) of this agreement is not met and the Borrower has not remedied nor is about to remedy this default within thirty (30) days as from the notification sent by CDC to the Borrower requesting that the default be remedied (excluding, with respect to the abovementioned 30 days period, in case of a default caused by the fact that covenants pursuant to article 2 of the Common Undertakings have not been met); (c) one of the essential representations or warranties made or given under this agreement is not observed or proves to be incorrect; (d) any non-subordinated debt of the Borrower resulting from a loan of sums of money totalling more than fifteen million two hundred thousand euros (€15,200,000) is declared due and payable in advance as a result of the existence of a breach on the part of the Borrower; (e) a final judgment against the Borrower ordering the Borrower to pay a sum greater than seventy six million two hundred thousand euros (€76,200,000) and the Borrower does not make the payment within thirty (30) days; (f) voluntary withdrawal from the operation of the Second Park for a period greater than six (6) consecutive months except in the event of closure (i) for seasonal reasons, or (ii) for rebuilding, repair or maintenance; and (g) as of 1 January 2013, Euro Disney S.C.A. or any of its affiliates contracts any indebtedness from a bank (the “Envisaged Debt”) without the prior consent of CDC and the effect of contracting such indebtedness renders the ratio Debt/Consolidated Equity Capital superior to 1 at the date of making the funds available; it being specified that the Borrower may remedy this Event of Default within a 30-day period starting as of the date of notification of the Borrower.

Definition of Events of Default. Any of the following specified events shall constitute an event of default (each an "Event of Default") under this Agreement with respect to Pledgor: (a) the failure of Pledgor to pay when due any amount under the Note; (b) any representation, warranty or statement made or deemed to be made by Pledgor under or in connection with this Agreement, the Stock Purchase Agreement or the Rights Agreement shall have been false or misleading in any material respect when made or deemed to have been made and on the date on which such misrepresentation or breach is discovered or determined; provided, that, no such misrepresentation or breach shall constitute an Event of Default hereunder if such misrepresentation or breach is cured within thirty (30) days after the earlier of (i) its discovery or determination by Pledgor and (ii) notice to Pledgor by Pledgee and the costs of effecting such cure are not material; (c) Pledgor shall breach or fail to observe or perform any covenant or agreement set forth in the Documents; (d) an involuntary proceeding shall be commenced or an involuntary petition shall be filed in a court of competent jurisdiction seeking (A) relief in respect of the Pledgor, or of a substantial part of his property or assets, under Title 11 of the United States Code, as now constituted or hereafter amended, or any other Federal, state or foreign bankruptcy, insolvency, receivership or similar law, (B) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Pledgor, or for a substantial part of his property or assets, or (C) the winding-up or liquidation of the Pledgor; and such proceeding or petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; or (e) the Pledgor shall (A) voluntarily commence any proceeding or file any petition seeking relief under Title 11 of the United States Code, as now constituted or hereafter amended, or any other Federal, state or foreign bankruptcy, insolvency, receivership or similar law, (B) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or the filing of any petition described in paragraph (i) above, (C) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for such party or for a substantial part of its property or assets, (D) file an answer admitting the material allegations of a pe...

Definition of Events of Default. Any of the following specified events shall constitute an “Event of Default” under this Agreement: (a) the occurrence of any Event of Default (as such term is defined in any of the Purchase Agreement); (b) any representation, warranty or statement made or deemed to be made by any Pledgor under or in connection with this Agreement shall have been false or misleading in any material respect when made or deemed to be made; or (c) any Pledgor shall fail to observe or perform any covenant or agreement set forth in this Agreement.

Definition of Events of Default. Any of the following specified events shall constitute an Event of Default under this Agreement: 1. (a) the existence or occurrence of any Event of Default as provided under the terms of the Credit Agreement; 2. (b) any representation, warranty or statement made or deemed to be made by SCI or any of its officers under or in connection with this Agreement shall have been incorrect in any material respect when made or deemed to be made; 3. (c) SCI shall fail to observe or perform any covenant or agreement set forth in Section 6 (including Section 6.1), Section 15 or Section 17; or 4.

Definition of Events of Default. Any of the following specified events shall constitute an Event of Default under this Agreement: 4.the existence or occurrence of any Event of Default as provided under the terms of the Credit Agreement; 5.any representation, warranty or statement made or deemed to be made by the Pledgor or any of its officers under or in connection with this Agreement shall have been incorrect in any material respect when made or deemed to be made; 6.the Pledgor shall fail to observe or perform any covenant or agreement set forth in Section 6 (including Section 6.1), Section 15 or Section 17; or 7.the Pledgor shall fail to observe or perform any covenant or agreement set forth in this Agreement, other than those referred to in paragraph(c) above, and such failure remains unremedied until the first to occur of the date forty-five (45) days after an Executive Officer first obtains knowledge thereof or the date thirty (30) days after written notice thereof shall have been given to the Pledgor by any Bank. 7.

Definition of Events of Default. Any of the following specified events shall constitute an Event of Default under this Assignment: (a)the existence or occurrence of any Event of Default as provided under the terms of the Credit Agreement; (b)any representation, warranty or statement made or deemed to be made by any Assignor or any of their respective officers under or in connection with this Assignment (other than the representation and warranty in Section 5(e) of this Assignment) shall have been incorrect in any material respect when made or deemed to be made; (c)any Assignor shall fail to observe or perform any covenant or agreement set forth in Section 7(c) and in Section 8; or (d)(i) any Assignor shall fail to observe or perform any covenant or agreement set forth in this Assignment, other than in Section 5(e) or those referred to in paragraph (c) above, and any such failure remains unremedied until the first to occur of the date forty-five (45) days after an Executive Officer first obtains knowledge thereof or the date thirty (30) days after written notice thereof shall have been given to the Assignor by the Agent, or (ii) if the representation and warranty made by the Assignor in Section 5(c) of this Assignment shall have been incorrect in any material respect when made or deemed to be made, and continues to be incorrect in any material respect until the first to occur of the date forty-five (45) days after an Executive Officer first obtains knowledge thereof or the date thirty (30) days after written notice thereof shall have been given to the Assignor by any Bank, the Agent or any Co-Agent.

Definition of Events of Default. The occurrence of any one or more of the following events shall constitute an "Event of Default" hereunder: (a) O▇▇▇▇▇▇'s breach of the obligation to pay the principal or the interest under the Note within thirty (30) business days after the date that it is due and payable; (b) Any material portion of the Purchased Assets is attached, seized, levied on, or comes into possession of a trustee or receiver to secure debt of the Obligor (other than pursuant to this Note), and the attachment, seizure or levy is not removed in sixty (60) days; and (c) Obligor (A) has an order for relief entered against it under the federal Bankruptcy Code or similar bankruptcy or insolvency law and such order is not dismissed within sixty (60) days, (B) makes an assignment for the benefit of creditors, (C) applies for or seeks the appointment a receiver, liquidator, assignee, trustee or other similar official for it or of any substantial part of its property or any such official is appointed, other than upon Company's request, and such unrequested appointment continues for sixty (60) days, or (D) institutes proceedings seeking an order for relief under the federal Bankruptcy Code or similar bankruptcy or insolvency law or seeking to adjudicate it a bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or composition of it or any of its debts under other applicable federal or state law relating to creditor rights and remedies, or any such proceeding is filed against it, other than upon O▇▇▇▇▇▇'s request, and such unrequested proceeding continues undismissed or unstayed for sixty (60) days.

Definition of Events of Default. Each of the following events or circumstances constitutes an Event of Default: (a) A Borrower or any other company of the Group does not pay on the due date any amount payable pursuant to a Finance Document at the place at and in the currency in which it is expressed to be payable, unless such failure is remedied within five Business Days thereafter. (b) Any Financial Indebtedness of any company of the Group is not paid when due nor within any applicable grace period, any Financial Indebtedness of any company of the Group is declared to be or otherwise becomes due and payable prior to its specified maturity, any commitment for any Financial Indebtedness of any company of the Group is cancelled or suspended by a creditor of any company of the Group or any creditor of any company of the Group becomes entitled to declare any Financial Indebtedness of any company of the Group due and payable prior to its specified maturity, provided, however, that this is a result of an event of default and the aggregate amount unpaid or declared due and payable for all Borrower and companies of the Group together at any point in time exceeds CHF 10,000,000. (c) A Borrower or any company of the Group becomes insolvent, is declared bankrupt by a court, applies for bankruptcy (Konkurs / faillite) or reorganization (Nachlassstundung / sursis concordataire), has a resolution passed for its winding-up or liquidation or suspends its business operations or any similar events, or a Borrower or any company of the Group makes or proposes a general assignment, arrangement or composition with or for the benefit of its creditors, or enters into negotiations with one or more of its Financial Indebtedness' creditors aiming at a restructuring, readjustment or rescheduling of any part of its Financial Indebtedness as a consequence of an unwillingness or inability to pay by such company and such event exceeds CHF 20,000,000 of book value of such company. (d) A Borrower or any company of the Group ceases or suspends, or threatens to cease or suspend, to carry on all or a substantial part of its business, it being understood ceasing or suspending a business line with less that CHF 20,000,000.- of annual sales shall be not deemed a substantial part of the Group's business and in case more than one business line is being ceased or suspended, the above mentioned threshold amount applies to the total of such ceasing or suspending during one financial year. (e) A Borrower and/or a company of the Group...