Events of Default and Acceleration of Maturities Sample Clauses

Events of Default and Acceleration of Maturities. If one or more of the following Events of Default shall happen: (a) Default shall be made in the due and punctual payment by the District of any Series 2023 Installment Payment or fees required to be paid hereunder, or any Contract or Bond, when and as the same shall become due and payable; (b) Default shall be made by the District in the performance of any of the agreements or covenants contained herein required to be performed by it, and such default shall have continued for a period of thirty (30) days after the District knows, or should have known, that such default exists; provided, however, that if in the reasonable opinion of the District the default stated in the notice can be corrected, but not within such 30 day period, and corrective action is instituted by the District within such 30 day period and diligently pursued in good faith until the default is corrected, such default will not be an Event of Default under this Installment Purchase Agreement; (c) Any financial statement or certificate furnished to the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made by the District shall prove to be incorrect, false or misleading in any material respect when furnished or made; (d) The filing of a notice of judgment lien against the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (30) days after the District shall have been given notice in writing; or (g) The District shall file a petition seeking arrangement or reorganization under federal bankruptc...