Common use of Definition of Events of Default Clause in Contracts

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 E 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. 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 E D 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. 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 E 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.