Payment Moratorium Sample Clauses

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Payment Moratorium. The Borrower, the Guarantor or any Domestic Subsidiary ceases its payments or enters into negotia- tions with its creditors aiming at a payment moratorium; or
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Payment Moratorium. Upon receipt of the Consideration described in Section 1.01 above, Vencore will Grant Oxysure a Second Payment Moratorium such that during : a) The term of the Second Payment Moratorium (the “Moratorium Period”) shall expire on the earlier to occur of: (i) July 1, 2013; (ii) a cash settlement or repayment plan being entered into; or (iii) a merger or acquisition of Oxysure or the sale of substantially all of its assets (collectively a “Sale”); b) Oxysure will not be obligated to make any payments during the Moratorium Period; c) No further late charges or interest will accrue during the Moratorium Period; d) Any amounts Oxysure may pay towards the Debt Obligation during the Moratorium Period shall reduce the Debt Obligation; e) In the event of a Sale the entire Debt Obligation shall immediately become due and payable; and f) Vencore shall make no demands or take any actions against Oxysure during the Moratorium Period.
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Payment Moratorium. Vencore shall grant a Third Payment Moratorium (the “Third Moratorium”) which will expire on December 31, 2013. The Debt Obligation shall remain as $307,661.83 and no further interest or late charges shall accrue during the Third Moratorium.
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Related to Payment Moratorium

  • Moratorium Any moratorium is declared on the payment of any external indebtedness of the Russian Federation or of Russian residents generally.

  • Moratorium legislation To the fullest extent permitted by law, the provisions of all statutes whether existing now or in the future operating directly or indirectly: (a) (To affect obligations): to lessen or otherwise to vary or affect in favour of any party any obligation under this Agreement; or (b) (To affect rights): to delay or otherwise prevent or prejudicially affect the exercise of any rights or remedies conferred on a party under this Agreement, are hereby expressly waived, negatived and excluded.

  • Solvency, Payment of Debts Borrower is able to pay its debts (including trade debts) as they mature; the fair saleable value of Borrower’s assets (including goodwill minus disposition costs) exceeds the fair value of its liabilities; and Borrower is not left with unreasonably small capital after the transactions contemplated by this Agreement.

  • Payment of Debts Contractor must pay all amounts shown as due to the City on the City’s accounts, even if a dispute exists as to the debt’s validity or enforceability.

  • Marshalling; Payments Set Aside Neither any Agent nor any Lender shall be under any obligation to marshal any assets in favor of any Credit Party or any other Person or against or in payment of any or all of the Obligations. To the extent that any Credit Party makes a payment or payments to Administrative Agent or Lenders (or to Administrative Agent, on behalf of Lenders), or any Agent or Lenders enforce any security interests or exercise their rights of set-off, and such payment or payments or the proceeds of such enforcement or set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, any other state, provincial, territorial or federal law, common law or any equitable cause, then, to the extent of such recovery, the obligation or part thereof originally intended to be satisfied, and all Liens, rights and remedies therefor or related thereto, shall be revived and continued in full force and effect as if such payment or payments had not been made or such enforcement or set-off had not occurred.