Exchange Upon Default Sample Clauses
The 'Exchange Upon Default' clause defines the procedures and rights of parties when a default occurs in a contractual relationship, particularly in agreements involving the exchange of assets or obligations. Typically, this clause outlines the steps to be taken if one party fails to meet its obligations, such as triggering the immediate exchange of collateral, settlement of outstanding amounts, or transfer of specific assets. Its core practical function is to provide a clear and enforceable mechanism for resolving defaults, thereby minimizing uncertainty and protecting the interests of the non-defaulting party.
Exchange Upon Default. If default is made in the payments referred to in Section 12.01, the Company hereby undertakes that upon presentation and surrender of a permanent Global Note to the Trustee (or to any other Person or at any other address as the Company may designate in writing), on any Business Day on or after the maturity date thereof the Company will issue and the Trustee will authenticate and deliver to the Holder of such permanent Global Note duly executed and authenticated definitive Debt Securities with the same issue date and maturity date as set out in such permanent Global Note.
Exchange Upon Default. 27 Section 3.13. CUSIP and ISN Numbers.................................................................27
Exchange Upon Default. 30 Section 3.13. CUSIP and ISN Numbers................................................. 30 ARTICLE FOUR
Exchange Upon Default. If default is made in the payments referred to in Section 1001, then the Company hereby undertakes that, upon presentation and surrender of a permanent Global Security to the Trustee (or to any other Person or at any other address as the Company may designate in writing), on any Business Day on or after the maturity date thereof, the Company will issue and the Trustee will authenticate and make available for delivery to the bearer of such permanent Global Security duly executed and authenticated definitive Securities with the same issue date and maturity date as set out in such permanent Global Security.
Exchange Upon Default. 35 Section 3.13. MANDATORY DISPOSITION OF DEBT SECURITIES PURSUANT TO GAMING LAWS............................................. 35 Section 3.14. CUSIP NUMBERS............................................ 36 ARTICLE FOUR
Exchange Upon Default. 35 Section 3.13. MANDATORY DISPOSITION OF DEBT SECURITIES PURSUANT TO GAMING LAWS. . . . . . . . . . . . . . . . . . . . . . 35 Section 3.14. CUSIP NUMBERS.. . . . . . . . . . . . . . . . . . . . . . . . . 36
Exchange Upon Default. 28 Section 3.11 MANDATORY DISPOSITION OF NOTES PURSUANT TO GAMING LAWS................................................... 28
Exchange Upon Default. 41 ARTICLE IV.....................................................................................41
Exchange Upon Default. MANDATORY DISPOSITION OF DEBT SECURITIES PURSUANT TO GAMING LAWS
Exchange Upon Default. 49 ---------------------