Definition of Events of Default Clause Samples

Definition of Events of Default. An "Event of Default" under this Bond Agreement shall mean any one or more of the following events:

Definition of Events of Default. The occurrence of any of the following events will constitute an event of default (an “Event of Default”) against the Borrower: (a) any principal or interest amount due to CDC under Tranche D is unpaid on its due date and remains unpaid five (5) Working Days after written notification is sent to this effect by CDC to the Borrower; (b) one of the covenants made by the Borrower in Article 6 (Covenants) of this agreement is not met and the Borrower has not remedied nor is about to remedy this default within thirty (30) days as from the notification sent by CDC to the Borrower requesting that the default be remedied (excluding, with respect to the abovementioned 30 days period, in case of a default caused by the fact that covenants pursuant to article 2 of the Common Undertakings have not been met) ; (c) one of the essential representations or warranties made or given under this agreement is not observed or proves to be incorrect; (d) any non-subordinated debt of the Borrower resulting from a loan of sums of money totalling more than fifteen million two hundred thousand euros (€15,200,000) is declared due and payable in advance as a result of the existence of a breach on the part of the Borrower; (e) a final judgment against the Borrower ordering the Borrower to pay a sum greater than seventy six million two hundred thousand euros (€76,200,000) and the Borrower does not make the payment within thirty (30) days; (f) voluntary withdrawal from the operation of the Second Park for a period greater than six (6) consecutive months except in the event of closure (i) for seasonal reasons, or (ii) for rebuilding, repair or maintenance; and (g) as of 1 January 2013, Euro Disney S.C.A. or any of its affiliates contracts any indebtedness from a bank (the “Envisaged Debt”) without the prior consent of CDC and the effect of contracting such indebtedness renders the ratio Debt/Consolidated Equity Capital superior to 1 at the date of making the funds available; it being specified that the Borrower may remedy this Event of Default within a 30-day period starting as of the date of notification of the Borrower.

Definition of Events of Default. Any of the following specified events shall constitute an event of default (each an "Event of Default") under this Agreement with respect to Pledgor: (a) the failure of Pledgor to pay when due any amount under the Note; (b) any representation, warranty or statement made or deemed to be made by Pledgor under or in connection with this Agreement, the Stock Purchase Agreement or the Rights Agreement shall have been false or misleading in any material respect when made or deemed to have been made and on the date on which such misrepresentation or breach is discovered or determined; provided, that, no such misrepresentation or breach shall constitute an Event of Default hereunder if such misrepresentation or breach is cured within thirty (30) days after the earlier of (i) its discovery or determination by Pledgor and (ii) notice to Pledgor by Pledgee and the costs of effecting such cure are not material; (c) Pledgor shall breach or fail to observe or perform any covenant or agreement set forth in the Documents; (d) an involuntary proceeding shall be commenced or an involuntary petition shall be filed in a court of competent jurisdiction seeking (A) relief in respect of the Pledgor, or of a substantial part of his property or assets, under Title 11 of the United States Code, as now constituted or hereafter amended, or any other Federal, state or foreign bankruptcy, insolvency, receivership or similar law, (B) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Pledgor, or for a substantial part of his property or assets, or (C) the winding-up or liquidation of the Pledgor; and such proceeding or petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; or (e) the Pledgor shall (A) voluntarily commence any proceeding or file any petition seeking relief under Title 11 of the United States Code, as now constituted or hereafter amended, or any other Federal, state or foreign bankruptcy, insolvency, receivership or similar law, (B) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or the filing of any petition described in paragraph (i) above, (C) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for such party or for a substantial part of its property or assets, (D) file an answer admitting the material allegations of a pe...

Definition of Events of Default. Any of the following specified events shall constitute an “Event of Default” under this Agreement: (a) the occurrence of any Event of Default (as such term is defined in any of the Purchase Agreement); (b) any representation, warranty or statement made or deemed to be made by any Pledgor under or in connection with this Agreement shall have been false or misleading in any material respect when made or deemed to be made; or (c) any Pledgor shall fail to observe or perform any covenant or agreement set forth in this Agreement.

Definition of Events of Default. Each of the following events shall be deemed to be an "EVENT OF DEFAULT" by Electroglas under this Lease: (i) Electroglas shall fail to pay when first due any Base Rent, Administrative Fees or Commitment Fees and such failure shall continue for three Business Days after Electroglas is notified thereof. (ii) Electroglas shall fail to pay when first due any Rent other than Base Rent, Administrative Fees or Commitment Fees, and such failure shall continue for thirty days after Electroglas is notified thereof. (iii) Electroglas shall fail to comply with any term, provision or covenant of this Lease, other than as described in the other clauses of this subparagraph 0, and shall not cure such failure prior to the earlier of (A) thirty days after notice thereof is sent to Electroglas, or (B) the date any writ or order is issued for the levy or sale of any property owned by BNPLC (including the Property) because of such failure or any criminal action is overtly threatened or instituted against BNPLC or any of its directors, officers or employees because of such failure; provided, however, that so long as no such writ or order is issued and no such criminal action is overtly threatened or instituted, the period within which such failure may be cured by Electroglas shall be extended for a further period (not to exceed an additional ninety days) as shall be necessary for the curing thereof with diligence, if (but only if) (x) such failure is (iv) Electroglas shall fail to comply with any term, provision or condition of the Purchase Documents and, if the Purchase Documents expressly provide a time within which Electroglas may cure such failure, Electroglas shall not cure the failure within such time. (v) Electroglas shall abandon the Property. (vi) Electroglas or any Material Subsidiary shall fail to make any payment of principal, premium, interest or other amounts, on any Debt described in the next sentence when due (taking into consideration the time Electroglas may have to cure such failure, if any, under the documents governing such Debt). As used in this clause 0, "Debt" shall mean only a Debt of Electroglas or a Material Subsidiary now existing or arising in the future, (A) payable to BNPLC or any Participant or any Affiliate of BNPLC or any Participant, the outstanding balance of which has become due by reason of acceleration or maturity, or (B) payable to any Person, with respect to which $1,000,000 or more is actually due and payable because of acceleration o...

Definition of Events of Default. The following specified events shall constitute events of default ("Events of Default"):

Definition of Events of Default. Any of the following specified events shall constitute an Event of Default under this Agreement: 1. (a) the existence or occurrence of any Event of Default as provided under the terms of the Credit Agreement; 2. (b) any representation, warranty or statement made or deemed to be made by SCI or any of its officers under or in connection with this Agreement shall have been incorrect in any material respect when made or deemed to be made; 3. (c) SCI shall fail to observe or perform any covenant or agreement set forth in Section 6 (including Section 6.1), Section 15 or Section 17; or 4.

Definition of Events of Default. The occurrence at any time with respect to a party or any Specified Entity of such party of any of the following events constitutes an event of default (an “Event of Default”) with respect to such party:

Definition of Events of Default. The occurrence at any time with respect to any BP Party or any Enron Party, as applicable, of any of the following events constitutes an event of default (an “Event of Default”) with respect to the BP Group (if the Event of Default relates to a BP Party) or the Enron Group (if the Event of Default relates to an Enron Party), as applicable: