Common use of EARLY MATURITY Clause in Contracts

EARLY MATURITY. Without prejudice to Clause 3.2 above, the remaining balance of the Term Installments will become immediately and automatically due by Buyer in the following cases: (i) Declaration or distribution of dividends at a sum higher than the mandatory minimum dividend set forth in article 202 of the Brazilian Corporations Law and/or payment of interest on net equity, in any case by or to Buyer when directly related to the Company; (ii) Occurrence of a Liquidity Event; (iii) Unjustified termination of the Colocation Agreement caused by the Company, except if due to default on a monetary obligation by any of the Sellers; (iv) Default by Buyer of any of the obligations set forth in Clause 8.1 below; (v) Default by the Company of any of the obligations set forth in Clause 8.1 below, provided that not caused by Sellers or any act occurring before the Closing; (vi) Default of an obligation set forth in any of the Guarantee Agreements or termination of any of the Guarantee Agreements caused by Buyer and/or the Company; or (vii) Filing for bankruptcy or judicial reorganization by ▇▇▇▇▇ and/or the Company.

EARLY MATURITY. Without prejudice to Clause 3.2 above, the remaining balance of the Term Installments will become immediately and automatically due by Buyer in the following cases: (i) Declaration or distribution of dividends at a sum higher than the mandatory minimum dividend set forth in article 202 of the Brazilian Corporations Law and/or payment of interest on net equity, in any case by or to Buyer when directly related to the Company; (ii) Occurrence of a Liquidity Event; (iii) Unjustified termination of the Colocation Agreement caused by the Company, except if due to default on a monetary obligation by any of the Sellers; (iv) Default by Buyer of any of the obligations set forth in Clause 8.1 below; (v) Default by the Company of any of the obligations set forth in Clause 8.1 below, provided that not caused by Sellers or any act occurring before the Closing; (vi) Default of an obligation set forth in any of the Guarantee Agreements or termination of any of the Guarantee Agreements caused by Buyer and/or the Company; or (vii) Filing for bankruptcy or judicial reorganization by ▇▇▇▇▇ Buyer and/or the Company.