An Event of Default shall occur if:
An Event of Servicer Termination shall not affect the rights and duties of the parties hereunder other than those relating to the management, administration, servicing, custody or collection of the Contracts or the payment of certain expenses by the successor Servicer, in each case, as expressly set forth herein.
An Event of Default that occurs shall exist or continue or be continuing unless such Event of Default is waived by Lender in accordance with the terms of this Agreement;
An Event of Default as defined in the ------------------ Participation Agreement shall constitute an "Event of Default" under this Lease. ----------------
An Event of Default under this Guarantee will occur upon the failure of the Guarantor to perform any of its payment or other obligations hereunder. The Holders of a Majority in liquidation amount of the Capital Securities may, voting or consenting as a class, on behalf of the Holders of all of the Capital Securities, waive any past Event of Default and its consequences. Upon such waiver, any such Event of Default shall cease to exist, and shall be deemed to have been cured, for every purpose of this Guarantee, but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon.
An Event of Default shall be cured only when Assignor shall have paid and satisfied in full all Obligations and other sums owing and past due and shall have performed all other terms, covenants and conditions, the failure of performance of which terminated the license herein above mentioned, or shall have received a written waiver from Assignee of such Event of Default.
An Event. Outside The Control means any act or event beyond a Party’s reasonable control, including without limitation strikes, lock-outs or other industrial action by third parties, civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster, or failure of public or private telecommunications networks.
An Event of Default shall have occurred if from or after the date of Closing, (i) Newco fails to maintain its registrations which materially affects Newco's ability to sell or maintain franchises; (ii) subject to the cure provisions of Section 1.10 hereof, Newco fails to open or have under construction the minimum number of Microtel Hotels pursuant to Section 1.9 hereof; (iii) Newco falls to pay to the Company any amounts determined to be due hereunder; or (iv) Newco otherwise fails to fulfill its material obligations hereunder.
An Event of Default shall occur under and as defined in the Master Security Agreement, (ii) the Maker or any of its subsidiaries shall breach any term or provision of the Master Security Agreement in any respect, (iii) the Maker, or any of its subsidiaries attempts to terminate, challenges the validity of, or its liability under, the Master Security Agreement, (iv) any proceeding shall be brought to challenge the validity, binding effect of the Master Security Agreement or (v) without the consent of the Agent or the Payee, the Master Security Agreement ceases to be valid, binding and enforceable obligation of the Maker.
An Event of Default on the part of Subcontractor shall occur upon the happening of any one or more of the following events:
