Acceleration of Maturity Due to Change in Collateral. (a) In the event that a Change of Collateral, as defined herein, does occur, and the stock or securities of the company which issued the Pledged Collateral is acquired in a cash or stock and cash transaction then the Maturity Date for this Loan is automatically accelerated so that the Obligations become payable 45 days after the actual acquisition and closing date of the Change in Collateral event. Under those circumstances the Borrower and the Lender agree to and shall proceed as follows:
Appears in 3 contracts
Samples: Loan and Pledge Agreement (Shortall Alan), Loan and Pledge Agreement (Shortall Alan), Loan and Pledge Agreement (Shortall Alan)
Acceleration of Maturity Due to Change in Collateral. (a) In the event that a Change of Collateral, as defined herein, Collateral does occur, and the stock or securities of the company which issued the Pledged Collateral is acquired in a cash or stock and cash transaction then the Maturity Date for this Term Loan is automatically accelerated so that the Obligations become payable 45 sixty (60) days after the actual acquisition and closing date of the Change in Collateral event. Under those circumstances the Borrower and the Lender agree to and shall proceed as follows:
Appears in 2 contracts
Samples: Stock Loan and Repurchase Agreement, Stock Loan and Repurchase Agreement (Kingold Jewelry, Inc.)
