Common use of DEFAULT BY DEALER Clause in Contracts

DEFAULT BY DEALER. The following events shall constitute a default by Dealer under this Agreement: 1. The termination for any reason of Dealer’s flooring financing plan; 2. The failure of Dealer to pay any amount due to Hyundai under this Agreement when due; 3. The breach by Dealer of any term of this Agreement; and 4. A material change in the financial condition of Dealer, including, without limitation, the filing of a bankruptcy petition under ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇ Code, by or against Dealer, a general assignment by Dealer for the benefit of creditors, and the inability of Dealer generally to pay its debts as they come due.