Accelerated Conversion. (a) Accelerated Conversion Event (i) the Issuer or the Guarantor fails to pay any amount payable under these Terms of the MACCS or the Guarantee, respectively, when and as the same becomes due and payable, and such failure continues for a period of ten Trading Days; or (ii) the Issuer or the Guarantor fails to perform or comply with any of its obligations under these Terms of the MACCS or the Guarantee, respectively (other than those described in clause (i) of this Condition 9 (a)) and such failure is incapable of remedy or, if capable of remedy, is not remedied within 30 Trading Days after notice of such failure shall have been given by the Principal Paying and Conversion Agent to the Issuer; or (iii) the Issuer or CSG is (or is deemed by law or a court or a competent regulator to be) bankrupt or unable to pay its debts, stops or suspends payment of all or a material part of its debts, initiates or becomes subject to proceedings relating to itself under any applicable bankruptcy, liquidation,
Appears in 2 contracts
Sources: Purchase and Underwriting Agreement (Credit Suisse Group Ag), Purchase and Underwriting Agreement (Credit Suisse Group Ag)