Nature of Events. An "Event of Default" shall exist if any of the following occurs and is continuing at any time: (A) PRINCIPAL PAYMENTS -- the Company shall fail to make any payment of principal on any Note on or before the date such payment is due; (B) INTEREST OR MAKE-WHOLE AMOUNT PAYMENTS -- the Company shall fail to make any payment of interest or Make-Whole Amount on any Note on or before five (5) Business Days after the date such payment is due;
Appears in 1 contract
Sources: Note Purchase Agreement (Credit Acceptance Corporation)
Nature of Events. An "Event of Default" shall exist if any of ---------------- the following occurs and is continuing at any timecontinuing:
(Aa) PRINCIPAL PAYMENTS Principal Payments -- the Company shall fail fails to make any ------------------ payment of principal on any Note the Debentures on or before the date such payment is due;
(B) INTEREST OR MAKE-WHOLE AMOUNT PAYMENTS -- the Company shall fail to make any payment of interest , whether by prepayment, at maturity, by acceleration or Make-Whole Amount on any Note on or before five (5) Business Days after the date such payment is due;otherwise; or
Appears in 1 contract
Sources: Subordinated Convertible Debenture Purchase Agreement (Zoltek Companies Inc)