Automatic Default. An “Automatic Default” shall occur automatically upon the occurrence of any of the following events:
Automatic Default. The parties shall fall in automatic default (xxxx automática), without need for any formal judicial or extrajudicial demand or act, for the sole action of performing or not performing an act that constitutes a violation to the terms and conditions of this Agreement.
Automatic Default. An “Automatic Default” shall occur automatically upon the occurrence of any of the following events: DEED OF TRUST (VIRGINIA) Xxxxx Fargo/Xxxx Properties/Cracker Barrel Loan Xx. 00-00000000/Xxxxx Xx. 000
Automatic Default. If any Event of Default referred to in Section V of the Article of this Agreement entitled “Events of Default” shall occur, the Credit Facility, and all of Borrower’s other obligations to Bankers’ shall thereupon become immediately due and payable in full, all without presentment, demand or notice of any kind, all of which are hereby expressly waived by Borrower; and
Automatic Default. In the event bankruptcy, receivership, Insolvency, reorganization, dissolution, liquidation or other similar proceeding is instituted by or against either party under the United States Bankruptcy Code or other law of the United States or any state, then the other party may, without notice or demand, terminate this Agreement and exercise all rights granted under applicable law and this Agreement.
Automatic Default. It is hereby established the default by operation of law, without previous judicial demand, in connection with any obligations of the Client towards the Bank. Such present or future obligations of the Client, arising from these conditions and of any specific conditions agreed under each specific business are essentially interdependent, as they come from a single and global relationship between the Client and the Bank. Therefore, a default in one or any of the obligations shall anticipate the maturity of any and all terms for the benefit of the Client in respect of all its obligations, as well as the default by force of law of all its liabilities.
Automatic Default. 7.3 Notwithstanding the foregoing, the Licensee shall be deemed to be automatically in default of its obligations under this License upon the Licensee becoming insolvent or bankrupt, the Licensee making an assignment for the benefit of creditors, the Licensee being declared bankrupt, or upon the Licensee taking the benefit of any legislation that may be in force for bankrupt or insolvent debtors, or the Licensee failing to use the License Area in accordance with the use permitted under this License.
Automatic Default. If any Event of Default referred to in the Section of this Agreement entitled “Solvency” shall occur, or begin to exist, all of the Obligations under the Loan Documents shall thereupon become immediately due and payable in full, all without presentment, demand or notice of any kind, all of which are hereby expressly waived by Borrower.
Automatic Default. In the event that:
Automatic Default. The occurrence of either of the following shall constitute an automatic Default by Participant under this Agreement:
