Put Default Sample Clauses

Put Default. In the event of the failure of the Company within 180 days of the Company's receipt of the Put Notice to pay in full the Put Price for all ABRY Stock pursuant to a Put with respect to the ABRY Stock (a "Put Default"), the holders of a majority of the ABRY Underlying Common Stock shall have certain affirmative rights in connection with an Approved Sale as set forth in Section 6 hereof.
Sample 1
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Put Default. Notwithstanding the provisions set forth in Article Five of the Indenture, "Event of Default," wherever used in the Indenture or this Third Supplemental Indenture with respect to the Subordinated Debt Securities, shall not be deemed to include a default in the payment of the Subordinated Debt Repayment Price on the Initial Put Option Exercise Date unless such default shall continue for more than two Business Days following the Stated Purchase Date.
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Put Default. The Seller shall have failed to repurchase (or make ----------- reimbursement in respect of, if applicable) any Account that the Seller is obligated to repurchase (or make reimbursement for) under Section 7.3, within the time period specified in Section 7.3;
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Put Default. 24 6.5 NFO Right of First Refusal............................24
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Put Default. If (a) the Company or the Company Transferee, as the case may be, fails to consummate the closing of the Put within the time periods set forth in Section 6.3 or (b) the Company fails to cure any failure to make payments due under the Company Notes within five (5) Business Days of notice from a Holdco Stockholder of such failure (a "Put Default") General Atlantic shall have the right (pursuant to an irrevocable proxy which IX, on behalf of itself and the other IX Interestholders, hereby grants to General Atlantic in the event of a Put Default and until such Put Default is cured (provided that if subsequent Put Defaults occur this irrevocable proxy shall again take effect)) to vote the Company Interests held by the IX Interestholders in favor of expanding the Board of Representatives of the Company from five (5) members to seven (7) members and designating four (4) of such members pursuant to Section 5.2(b) of the Operating Agreement.
Sample 1
Put Default. (i) In the event of a Put Default, (A) the Requisite Rollover Investors shall, subject to the terms set forth herein, have the right to become “Initiating Members” for purposes of Section 12.8 of the LLC Agreement and (B) upon the consummation of any Approved Sale initiated by the Requisite Rollover Investors (a “Rollover Investor Approved Sale”) and notwithstanding Section 4.1(b) of the LLC Agreement, (x) the holders of the Exchange Company Units shall, in the aggregate, receive in respect of the Exchange Company Units the lesser of (1) the aggregate net equity proceeds of such Approved Sale and (2) an amount equal to the Put Price (determined on the date of the consummation of such Approved Sale) multiplied by the number of Exchange Company Units then outstanding (in either case divided ratably among the holders of Exchange Company Units based on the number of Exchange Company Units held by each such holder) and (y) the holders of all other Units of the Company shall be entitled to receive in respect of such Units, any and all remaining net equity proceeds paid or payable in connection with such Approved Sale in excess of the amount determined pursuant to the immediately preceding clause (x) (ratably among such holders in accordance with Section 4.1(b) of the LLC Agreement, but excluding any Exchange Company Units) and the holders of the Exchange Company Units shall not be entitled to receive any proceeds in excess of the amount determined pursuant to the immediately preceding clause (x). In the event that the proceeds of a Rollover Investor Approved Sale includes property other than cash, then, the amounts payable with respect to the Exchange Company Units shall be paid in cash, unless there is insufficient cash available in transaction proceeds to make such payments in which case all such cash shall be paid with respect to the Exchange Company Units and any additional amounts shall be payable in such form as is agreed to by the Requisite Rollover Investors (in any case, except to the extent required to ensure that the Cash Investor receives not less than 75% of its aggregate proceeds, if any, in connection with such Rollover Investor Approved Sale in cash). Unless otherwise agreed by holders of the Rollover Investors and the Cash Investors, the value of any non-cash consideration payable in connection with any such Rollover Investor Approved Sale shall be determined by the Approved Bank (as defined below), which shall set forth such determination and t...
Sample 1
Put Default. A “Put Default” shall occur if at any time (i) the Company fails to comply on a timely basis with the dividend payment provisions of the Shares, but only if no GECC Default has occurred and remains continuing or results therefrom; (ii) there is a Guaranty Default; (iii) the Company fails to make eight quarterly dividend payments in respect of the Shares (whether in consecutive calendar quarters or not), even if UWG receives any payment in respect thereto, (iv) the Company defaults under any agreement relating to any financial support provided by UWG or any of its Subsidiaries to the Company and such default continues for thirty (30) calendar days after written notice of such default is given to the Company by UWG; (v) there is any other breach of the Company’s representations, warranties, covenants and agreements in the Exchange Agreement, the Supply Agreement or any other contractual relationship between the Company and UWG or any of its subsidiaries which entitles UWG to demand the early payments of amounts due thereunder or to otherwise exercise significant remedial actions thereunder; (vi) there is an Annual Put Default; or (vii) there is a Change of Control or an IPO. Upon the occurrence of a Put Default, UWG (at its option) may require the Company to purchase any or all Shares which UWG may then hold at the Series A Put Price (the “Default Put Right”).
Sample 1
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Put Default. If any payments required by Section 10 of this Warrant Agreement are not paid as scheduled, then for each period of 90 days or less thereafter during which any such payment default exists, the number of Underlying Shares shall automatically increase by an amount equal to 75,000 Underlying Shares (as such number is appropriately adjusted for stock splits, stock dividends and similar transactions), compounded at a 25% rate for each such 90 day period (the "Put Default Shares"). Any Put Default Shares shall be allocated prorata among the Holders (based on the Underlying Shares initially associated with each Warrant on the date of this Agreement). For example, if such payment default exists for a 210 day period, the number of Put Default Shares shall be equal to 285,938 (as such number is appropriately adjusted for stock splits, stock dividends and similar transactions), determined on the basis of 75,000 Underlying Shares for the first 90 day period, 93,750 Underlying Shares for the second 90 day period, and 117,188 Underlying Shares for the third period of 30 days.
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Related to Put Default

  • Payment Default Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day grace period shall not apply to payments due on the Maturity Date or the date of acceleration pursuant to Section 9.1 (a) hereof). During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);

  • Covenant Default (a) Borrower fails or neglects to perform any obligation in Sections 6.2, 6.3, 6.4, 6.6, 6.8, or 6.9, or violates any covenant in Section 7; or

  • Payment Defaults Tenant shall fail to pay any installment of Rent or any other payment hereunder when due; provided, however, that Landlord will give Tenant notice and an opportunity to cure any failure to pay Rent within 3 days of any such notice not more than once in any 12 month period and Tenant agrees that such notice shall be in lieu of and not in addition to, or shall be deemed to be, any notice required by law.

  • Other Payment Default The Borrower shall default in the payment when and as due (whether at maturity, by reason of acceleration or otherwise) of interest on any Loan or Reimbursement Obligation or the payment of any other Obligation, and such default shall continue for a period of three (3) Business Days.

  • Tenant Default (a) Any of the following occurrences or acts shall constitute an “Event of Default” (herein so called) under this Lease: if (i) Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of ten (10) days after Landlord notifies Tenant in writing of such failure (each an “Installment Default Notice”); or if, within a twelve (12) month period following delivery of not less than two (2) Installment Default Notices by Landlord, Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of five (5) days or (ii) Tenant shall default in the payment when due of any installment of Additional Rent payable hereunder and such default shall continue for ten (10) days after notice of such default is sent to Tenant by Landlord (or Lender); or (iii) the failure by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling any of the other covenants, agreements or obligations of this Lease, and such default shall continue for more than thirty (30) days after written notice thereof from Landlord (or Lender) specifying such default, provided, that if Tenant has commenced to cure a default described in subparagraph (iv) above within said thirty (30) days, and thereafter is in good faith diligently prosecuting same to completion and such default is of a nature such that it cannot be cured within such thirty (30) day period, said thirty (30) day period shall be extended, for a reasonable time (not to exceed an additional ninety (90) days) or, with respect to a breach of Tenant’s obligations under Section 40 of this Part II, such longer period as may reasonably be necessary to cure such default so long as (A) Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued against Tenant or any of its property whereby the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, and the same shall not be bonded, dismissed, or discharged as promptly as possible under the circumstances; or (vi) Tenant or Guarantor (A) shall make any assignment or other similar act for the benefit of creditors, (B) shall file a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after the commencement thereof; or (vii) the estate or interest of Tenant in the Premises shall be levied upon or attached in any proceeding and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the Guarantor’s guaranty of Tenant’s obligations under this Lease is terminated for any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its Affiliates.

  • Event of Default; Notice (a) The Guarantee Trustee shall, within 90 days after the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders, notices of all Events of Default known to the Guarantee Trustee, unless such defaults have been cured before the giving of such notice, provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders.

  • No Payment Default Except for payment delinquencies that have been continuing for a period of not more than 29 days, no payment default under the terms of any Receivable exists as of the Cutoff Date.

  • Covenant Defaults Borrower fails to perform or observe any covenant, agreement or obligation contained in this Agreement or in any of the Loan Documents. However, if any default described in this Section 7.1(b) is curable and if Borrower or Guarantor, as the case may be, has not been given a notice of a similar default within the preceding 12 months, such default shall be deemed cured if Borrower or Guarantor, as the case may be, after receiving written notice from Lender demanding cure of such default: (1) cures the default within 30 days; or (2) if the cure requires more than 30 days, immediately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical, which, in all events, must occur within 60 days of such failure. The foregoing notice and cure period shall not apply to a breach by Borrower of any covenant or agreement obligating Borrower to pay the Loan or any other amounts due under the Loan Documents, the covenants, agreements, and obligations in Sections 2.7(c), 3.2(b), 6.1(c)(i), (ii) or (iii) (provided, however, that, in connection with Sections 6.1(c)(i), (ii) or (iii), in all circumstances other than the lapse of insurance, the foregoing notice and cure period specified above shall apply), 6.1(g), 6.1(o), 6.2(b) or 6.2(c), or the covenants, agreements and obligations that are otherwise specifically addressed in other subsections of this Section 7.1.

  • Additional Event of Default The following will constitute an additional Event of Default with respect to Party B: "NOTE ACCELERATION NOTICE. A Note Acceleration Notice is served on Party B in relation to the Relevant Notes."

  • Event of Default Defined The occurrence of any one or more of the following shall constitute an Event of Default under this Agreement, and any Event of Default which may occur hereunder shall constitute an Event of Default under each of the other Loan Documents:

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