Default and Events of Default Clause Samples

Default and Events of Default. “Default” or “Event of Default,” wherever used herein, means any Default or Event of Default, respectively, under the Indenture.

Default and Events of Default. The term “Default” as used herein or in any of the other Loan Documents shall mean any fact or circumstance which constitutes, or upon the lapse of time, or giving of notice, or both, could constitute, an Event of Default. The occurrence of any of the following events, continuing uncured beyond any applicable grace, notice or cure period, respectively, shall constitute an event of default (“Event of Default”). Upon the occurrence of any Event of Default described in Section 10.1.8, any and all Obligations shall become due and payable without any further act on the part of the Administrative Agent. Upon the occurrence of any other Event of Default, the Administrative Agent may, and upon the request of the Required Lenders shall, declare that any and all Obligations shall become immediately due and payable.

Default and Events of Default. Each of the following events will constitute an Event of Default hereunder only when and if such event is declared an “Event of Default” pursuant to written notice from Purchaser to Seller: (a) Seller defaults in the payment of any Obligations and does not cure the default within five (5) Business Days of the default; (b) Seller fails to perform any covenant or agreement, provision or other undertaking under this Agreement; (c) any representation or warranty of the Seller contained in this Agreement proves to be materially false in any way; (d) Seller or any guarantor of the Obligations becomes subject to any debtor-relief proceedings; (e) any guarantor fails to perform or observe any of the guarantor's Obligations to Purchaser or shall notify Purchaser of its intention to rescind, modify, terminate or revoke any guaranty, or any guaranty shall cease to be in full force and effect for any reason whatever; (f) any lien, garnishment, attachment or the like shall be issued against or shall attach to the Purchased Accounts, the Collateral or any portion thereof and the same is not released within five (5) days; and (g) Purchaser for any reason, in good faith, deems itself insecure with respect to the prospect of repayment or performance of any Obligations and Seller has not, on demand, furnish other collateral or make payment on account, reasonably satisfactory to Purchaser.. ’PURCHASER’S FAILURE TO CHARGE OR ACCRUE INTEREST OR FEES AT ANY “DEFAULT” OR “PAST DUE” RATE SHALL NOT BE DEEMED A WAIVER BY PURCHASER OF ITS CLAIM FOR SUCH INTEREST OR FEES. Upon the occurrence of any Event of Default, in addition to any rights Purchaser has under this Agreement or applicable law, Purchaser may immediately terminate this Agreement upon delivery of written notice to Seller, at which time all Obligations shall immediately become due and payable.

Default and Events of Default. The term "Default" as used herein or in any of the other Loan Documents shall mean an Event of Default, or any fact or circumstance which constitutes, or upon the lapse of time, or giving of notice, or both, could constitute, an Event of Default. The occurrence of any of the following events, respectively, shall, subject to the giving of any notice or the expiration of any applicable grace period referred to in Section 10.2 without the cure thereof, constitute an "Event of Default" herein. Upon the occurrence of any Event of Default described in Section 10.1.8, any and all Obligations shall become due and payable without any further act on the part of the Agent. Upon the occurrence of any other Event of Default, the Agent may declare any and all Obligations immediately due and payable. The occurrence and continuance of any Event of Default shall also constitute, without notice or demand, a default under all other agreements between the Agent and/or the Lenders and the Borrower and instruments and papers heretofore, now, or hereafter given the Agent and/or the Lenders by the Borrower.

Default and Events of Default. The term “

Default and Events of Default. Each of the following events, unless cured within any applicable cure and/or grace period set forth or referred to below in this Section 9.1, shall constitute an “Event of Default”:

Default and Events of Default. Subject to terms of Sections 3(c), 3(i), and 3(p) of this Consent No. 3, for any other Event of Default or defaults by the Company under the Program Documents as amended by this Consent No. 3, the Company shall be provided, where notice and cure are currently provided under the Program Documents, thirty (30) days to cure Events of Default or defaults, as applicable, from the date notice is provided to the Company. Upon the expiration of such thirty (30) day notice, the Authority, upon the written direction of the County, shall proceed with any and all remedies against the Company provided under the Program Documents as amended by this Consent No. 3.

Default and Events of Default. (a) The occurrence of any one or more of the following events will constitute a default under the Agreement (each, a “Default”): (i) any action by or omission of any of the Parties hereto (or any of their Affiliates) in violation of this Agreement; or (ii) any breach of any continuing representation or warranty set forth in the Joint Venture Agreement. (b) Any Default shall become an “Event of Default” if the defaulting party fails to cure the Default within ten (10) Business Days after receiving written notice thereof from any of the other Party.

Default and Events of Default. If any of the following events shall occur and be continuing, hereinafter individually referred to as an Event of Default: (a) Default in the payment of the Obligation when it becomes due and payable; or (b) Default by the Debtor in the performance or observance of any other agreement, covenant or term of this Agreement and such default shall not have been remedied within 30 days after written notice thereof from the Purchaser to the Debtor; or (c) The Debtor makes an assignment for the benefit of creditors, or petitions or applies for the appointment of a trustee, liquidator or receiver of the Debtor or any substantial part of the assets of the Debtor, or commences any proceeding relating to the Debtor under any bankruptcy, reorganization, arrangement, insolvency or readjustment of debt, or similar law of any jurisdiction, now or hereafter in effect, or shall be adjudicated bankrupt or insolvent; or if any such petition or application is filed, or any such proceeding is commenced, against the Debtor and the Debtor indicates its approval thereof, consent thereto or acquiescence therein, or an order is entered appointing any such trustee, liquidator or receiver, or approving a petition in any such proceeding, and such order remains in effect for more than 120 days; then, and in any such event, LCA may at any time thereafter (unless all Events of Default shall have been previously cured), by written notice to the Debtor, declare the Obligation to be due and payable, and the same thereupon shall become and be forthwith due and payable together with interest accrued thereon.