Common use of MATURITY EVENT Clause in Contracts

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 ▇. ▇▇▇▇▇▇.