SPA DEFAULT Clause Samples

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SPA DEFAULT. (a) with respect to all Registrable Securities then outstanding (including all SPA Registrable Securities, OSI Registrable Securities and Alliance Registrable Securities), the lock-up provisions set forth in Section 7.1 hereof shall expire and be of no further force and effect; and (b) with respect to all Registrable Securities then outstanding (including all SPA Registrable Securities, OSI Registrable Securities and Alliance Registrable Securities), the "Registration Period" referred to in Sections 2.1 and Section 3.1 hereof shall be deemed to be the period beginning on the earlier of (1) the Registration Rights Date and (2) the SPA Default Date, and ending on the date ten (10) years thereafter.
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SPA DEFAULT. In the event that Hanover commits a Material Breach of the Purchase Agreement or the OSI Asset Purchase Agreement, which Material Breach continues uncured for a period of thirty (30) business days after receipt of written notice of such Material Breach, or Hanover commits a Material Breach of the Note, which Material Breach continues uncured for a period of ten (10) business days after receipt of written notice of such Material Breach (in either case, the "SPA DEFAULT DATE"), then: (a) with respect to all Registrable Securities then outstanding (including all SPA Registrable Securities, OSI Registrable Securities and Alliance Registrable Securities), the lock-up provisions set forth in Section 7.1 hereof shall expire and be of no further force and effect; and (b) with respect to all Registrable Securities then outstanding (including all SPA Registrable Securities, OSI Registrable Securities and Alliance Registrable Securities), the "Registration Period" referred to in Sections 2.1 and Section 3.1 hereof shall be deemed to be the period beginning on the earlier of (1) the Registration Rights Date and (2) the SPA Default Date, and ending on the date ten (10) years thereafter.
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Related to SPA DEFAULT

  • ERISA Default The occurrence of one or more ERISA Events that (a) the Required Lenders determine could have a Material Adverse Effect, or (b) results in a Lien on any of the assets of any Company.

  • Monetary Default Any failure by a Party to pay, deposit or deliver, when and as this Agreement requires, any amount of money, any bond or surety or evidence of any insurance coverage required to be provided under this Agreement, whether to or with a Party or a Third Person.

  • Default; Breach A “Default” is defined as a failure by the Lessee to comply with or perform any of the terms, covenants, conditions or Rules and Regulations under this Lease. A “Breach” is defined as the occurrence of one or more of the following Defaults, and the failure of Lessee to cure such Default within any applicable grace period:

  • Non-Monetary Default The occurrence of any of the following, except to the extent constituting a Monetary Default: (a) any failure of a Party to perform any of such Party’s obligations under this Agreement; (b) any failure of a Party to comply with any material restriction or prohibition in this Agreement; or (c) any other event or circumstance that, with passage of time or giving of Notice, or both, would constitute a breach of this Agreement by a Party.

  • 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);