Common use of Events constituting Default Events Clause in Contracts

Events constituting Default Events. The occurrence at any time of any of the following events constitutes a Default Event: (a) failure by a Party to make, when due, any payment or delivery under this Digital Asset Trading Agreement required to be made by it, including amounts to be paid or delivered by the Counterparty under Sections 5.6 or 7; (b) the Counterparty or an Authorised Person of the Counterparty disaffirms, disclaims, repudiates or rejects, in whole or in part, this Digital Asset Trading Agreement or any Transaction, or otherwise cancels or reverses any Transaction; (c) a Party makes, repeats or is deemed to have made or repeated a representation that proves to have been incorrect or misleading in any material respect when made or repeated or deemed to have been made or repeated; (d) a Party is Insolvent; (e) a Party acts fraudulently or dishonestly; (f) breach by the Counterparty of any applicable laws or requirement of any Government Agency, including any Financial Crime Regulation; (g) any other failure by a Party to comply with or perform any agreement or obligation to be complied with or performed by the Party in accordance with this Digital Asset Trading Agreement if such failure is not remedied within 7 Business Days after notice of such failure is given to the Party. The Party in respect of which a Default Event has occurred and is then continuing is the “Defaulting Party”.