MATURITY EVENT Clause Samples

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MATURITY EVENT. Upon the occurrence of a Maturity Event (as hereinafter defined), the entire unpaid Principal balance and all accrued interest shall become immediately due and payable without further demand or notice to Borrower. To the extent permitted by law, any of the following events shall be a “Maturity Event” under this Note and the Stock Pledge Agreement: (a) Borrower shall fail to pay any amount of the Principal on this Note and all accrued interest when due and shall fail to cure such non-payment within ten (10) days following written notice of such delinquency. (b) There shall occur a breach or default in the performance of any obligation of Borrower contained in this Note, the Stock Pledge Agreement, the Employee Loan Agreement executed concurrently herewith (collectively, the “Loan Documents”), or any other agreement now or hereafter entered into by Borrower, on the one hand, and the Lender, on the other hand, relating to the loan evidenced by this Note. (c) Borrower shall sell, convey, encumber, grant any lien upon, or otherwise alienate the Shares or the Property, or any part thereof, or any interest therein, or shall be divested of his title or any interest therein in any manner or way, whether voluntarily or involuntarily, without the written consent of the Lender being first had and obtained. (d) Borrower (i) admits in writing his inability to pay debts, (ii) makes an assignment for the benefit of creditors, (iii) files a voluntary petition in bankruptcy, effects a plan or other arrangement with creditors, liquidates his assets under arrangement with creditors, or liquidates his assets under court supervision, (iv) has an involuntary petition in bankruptcy filed against him that is not discharged within sixty (60) days after such petition is filed, or (v) applies for or permits the appointment of a receiver or trustee or custodian for any of Borrower’s property or assets which shall not have been discharged within sixty (60) days after the date of appointment. (e) The Principal and accrued interest shall have become due and payable, upon the happening of certain events, on such dates as are set forth in Section 2.2 herein. (f) Any representation or warranty of Borrower contained herein or in any certificate or agreement entered into between Borrower for the benefit of Lender in connection herewith shall prove to be false or misleading in any material respect. (g) Any lien or other encumbrance is imposed against the Shares; provided, however, that in the ...
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MATURITY EVENT. Upon the occurrence of a Maturity Event, the entire unpaid principal balance then outstanding hereunder, together with all accrued but unpaid interest thereon, and all other sums due hereunder, shall become immediately due and payable without further demand or notice to Borrower. To the extent permitted by law, any of the following events shall be a "Maturity Event" under this Note and the Deed of Trust: (a) the insolvency of Borrower, including, but not limited to, a bankruptcy or insolvency proceeding having been instituted by or against Borrower or a receiver being appointed for the property of Borrower, or if Borrower makes an assignment for the benefit of creditors; (b) the ninetieth (90th) day after the employment of ▇. ▇▇▇▇▇▇ with the Company shall terminate or cease for any reason (other than the death of ▇. ▇▇▇▇▇▇), whether voluntarily or involuntarily, and whether with cause or without cause; (c) the sale, further encumbrance, conveyance, assignment, alienation or any other form of transfer of the Property, or any interest therein, whether voluntary or involuntary, without the prior written consent of the Company, or (d) one (1) year following the death of ▇. ▇▇▇▇▇▇.
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MATURITY EVENT. The Note shall immediately become due and payable, without notice or demand, upon the earlier to occur of January 20, 2011 or the occurrence of any “Maturity Event” as defined in the Note.
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MATURITY EVENT. The refinance of the H4H Mortgage, a sale or any other disposition of all or any part of the Property (including the sale or disposition of a beneficial interest in the Property or foreclosure by a senior mortgagee) where there has been no refinance of the H4H Mortgage prior to such sale or disposition. A Maturity Event shall not include the following: a transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety; the granting of a leasehold interest of three (3) years or less not containing an option to purchase; a transfer to a relative resulting from the death of the Borrower;
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MATURITY EVENT. Upon the occurrence of a Maturity Event (as -------------- hereinafter defined), the entire principal amount of the Loan and any other sums due hereunder, shall become immediately due and payable without further demand or notice to Borrower. To the extent permitted by law, any of the following events shall be a "Maturity Event" under this Note and the Deed of Trust: (i) Five (5) days following the date that Employee resigns from the Company. (ii) Five (5) days following the date that Employee's employment with the Company is terminated for cause. The term "termination for cause" includes, without limitation, dishonesty, commission of a felony, a breach of Employee's fiduciary duty or willful failure to follow a directive of the Company or the Board of Directors of the Company. (iii) Three hundred sixty (360) days following the date that Employee's employment with the Company is terminated without cause. (iv) The date of any sale, conveyance, assignment, alienation or any other form of transfer, whether voluntary or involuntary, of that certain real property commonly known as ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, Los Gatos, California (the "Property"), or any part thereof or interest therein; except that the following transfers of the Property shall not be deemed to be a Maturity Event: a) A transfer upon the death of Employee to Employee's surviving spouse (provided the surviving spouse is an obligor hereunder) or to Employee upon the death of Employee's surviving spouse; b) A transfer by an obligor hereof whereby such obligor's spouse becomes a co-owner of the Property; c) A transfer resulting from a decree of dissolution of the marriage or legal separation of Employee and ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ or from a property settlement agreement incidental to such a decree which requires the obligor spouse to assume responsibility for the obligations under this Note and the Deed of Trust (hereinafter defined) and pursuant to which Employee or ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ (whoever is the obligor) becomes the sole owner of the Property; or d) A transfer by one or both obligors under the Note into an inter vivos trust in which one or both obligors are beneficiaries. (v) March 25, 2008. (i) Borrower defaults in the payment of principal or interest when due pursuant to the terms hereof; (ii) Borrower defaults in his performance of any obligation contained in the deed of trust encumbering the Property and securing this Note (the "Deed of Trust"), any other deed of trust, security agreement or other agreement ...
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Related to MATURITY EVENT

  • Liquidity Events of Default If (a) any Liquidity Event of Default has occurred and is continuing and (b) there is a Performing Note Deficiency, the Liquidity Provider may, in its discretion, deliver to the Borrower a Termination Notice, the effect of which shall be to cause (i) the obligation of the Liquidity Provider to make Advances hereunder to expire on the fifth Business Day after the date on which such Termination Notice is received by the Borrower, (ii) the Borrower to promptly request, and the Liquidity Provider to promptly make, a Final Advance in accordance with Section 2.02(d) hereof and Section 3.5(i) of the Intercreditor Agreement, (iii) all other outstanding Advances to be automatically converted into Final Advances for purposes of determining the Applicable Liquidity Rate for interest payable thereon, and (iv) subject to Sections 2.07 and 2.09 hereof, all Advances (including, without limitation, any Provider Advance and Applied Provider Advance), any accrued interest thereon and any other amounts outstanding hereunder to become immediately due and payable to the Liquidity Provider.

  • Liquidity Event If there is a Liquidity Event before the expiration or termination of this instrument, the Investor will, at its option, either (i) receive a cash payment equal to the Purchase Amount (subject to the following paragraph) or (ii) automatically receive from the Company a number of shares of Common Stock equal to the Purchase Amount divided by the Liquidity Price, if the Investor fails to select the cash option. (i) holders of shares of any series of Preferred Stock issued before the date of this instrument (“Senior Preferred Holders”) and (ii) the Investor and holders of other Safes (collectively, the “ Cash-Out Investors”) in full, then all of the Company’s available funds will be distributed (i) first to the Senior Preferred Holders and (ii) second with equal priority and pro rata among the Cash-Out Investors in proportion to their Purchase Amounts, and the Cash-Out Investors will automatically receive the number of shares of Common Stock equal to the remaining unpaid Purchase Amount divided by the Liquidity Price. In connection with a Change of Control intended to qualify as a tax-free reorganization, the Company may reduce, pro rata, the Purchase Amounts payable to the Cash-Out Investors by the amount determined by the Board in good faith to be advisable for such Change of Control to qualify as a tax-free reorganization for U.S. federal income tax purposes, and in such case, the Cash-Out Investors will automatically receive the number of shares of Common Stock equal to the remaining unpaid Purchase Amount divided by the Liquidity Price.

  • Final Maturity Date 19 Fitch .....................................................................................19

  • Maturity Date This Agreement shall continue in effect until the maturity date set forth on the Schedule (the "Maturity Date"), subject to Section 6.3 below.

  • Mandatory Prepayments due to Borrowing Base Deficiency In the event that the amount of total Credit Exposure exceeds the total Commitments, the Borrower shall prepay Loans (and, to the extent necessary, provide cover for Letters of Credit as contemplated by Section 2.04(k)) in such amounts as shall be necessary so that the amount of total Credit Exposure does not exceed the total Commitments. In the event that at any time any Borrowing Base Deficiency shall exist, promptly (but in no event later than 5 Business Days), the Borrower shall either prepay (x) the Loans (and, to the extent necessary, provide cover for Letters of Credit as contemplated by Section 2.04(k)) so that the Borrowing Base Deficiency is promptly cured or (y) the Loans and the Other Covered Indebtedness that is Secured Longer-Term Indebtedness in such amounts as shall be necessary so that such Borrowing Base Deficiency is promptly cured (and, as among the Loans (and Letters of Credit) and the Other Covered Indebtedness that is Secured Longer-Term Indebtedness, at least ratably (based on the outstanding principal amount of such Indebtedness) as to payments of Loans in relation to Other Covered Indebtedness); provided, that if within such 5 Business Day period, the Borrower shall present to the Administrative Agent a reasonably feasible plan, which plan is reasonably satisfactory to the Administrative Agent, that will enable any such Borrowing Base Deficiency to be cured within 30 Business Days of the occurrence of such Borrowing Base Deficiency (which 30-Business Day period shall include the 5 Business Days permitted for delivery of such plan), then such prepayment or reduction shall be effected in accordance with such plan (subject, for the avoidance of doubt, to the limitations as to the allocation of such prepayments set forth above in this Section 2.09(b)); provided further, that to the extent such Borrowing Base Deficiency is a result of the failure of the Borrowing Base to include the minimum Senior Investments required pursuant to Section 5.13(e) because of a change in either (i) the ratio of the Gross Borrowing Base to the Senior Debt Amount or (ii) the Relevant Asset Coverage Ratio, such 30-Business Day period shall be extended by an additional 15 Business Days solely with respect to compliance with Section 5.13(e). Notwithstanding the foregoing, the Borrower shall pay interest in accordance with Section 2.11(c) for so long as the Covered Debt Amount exceeds the Borrowing Base during such 30-Business Day period. For clarity, in the event that the Borrowing Base Deficiency is not cured prior to the end of such 5-Business Day period (or, if applicable, such 30-Business Day period), it shall constitute an Event of Default under clause (a) of Article VII.