Events of. Default Each of the events or circumstances set out in this Clause 13.1 is an Event of Default.
Events of. DEFAULT If one or more of the following events shall occur ("Events of Default" or an "Event of Default"):
Events of. DEFAULT If any of the following events shall occur and be continuing: (a) The Borrower shall fail to pay any principal of or interest on any Loan or any other amount payable hereunder or under the other Credit Documents when due in accordance with the terms thereof or hereof (including any mandatory prepayment required pursuant to Section 3.5) and, in the case of interest or other amount (other than principal of any Loan), such failure shall continue for a period of three (3) days; or (b) Any representation or warranty made or deemed made by the Borrower herein or in any other Credit Document or which is contained in any certificate, document or financial or other statement furnished by it at any time under or in connection with this Agreement or any such other Credit Document shall prove to have been incorrect in any material respect on or as of the date made or deemed made; or (c) The Borrower shall default in the observance or performance of any agreement contained in Section 7 of this Agreement, Section 5(a), (b), (i) and (j) of the Borrower Security Agreement and Sections 3.1 and 3.5 of each Aircraft Chattel Mortgage; or (d) The Borrower shall default in the observance or performance of any other agreement contained in this Agreement or any other Credit Document (other than as provided in paragraphs (a) through (c) of this Section), and such default shall continue unremedied for a period of 30 days; or (e) The Borrower shall (i) default in any payment of principal of or interest of any Indebtedness (other than the Loans) or in the payment of any Guarantee Obligation, beyond the period of grace (not to exceed 30 days), if any, provided in the instrument or agreement under which such Indebtedness or Guarantee Obligation was created, if the aggregate amount of the Indebtedness and/or Guarantee Obligations in respect of which such default or defaults shall have occurred is at least $250,000.00; or (ii) default in the observance or performance of any other agreement or condition relating to any such Indebtedness or Guarantee Obligation or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or other event or condition is to cause, or to permit the holder or holders of such Indebtedness or beneficiary or beneficiaries of such Guarantee Obligation (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, wit...
Events of. Default If one or more of the following described ------------------------------ Events of Default shall occur:
Events of. Default If any of the following events (“Events of Default”) occurs: (a) the Borrowers fail to pay the Obligations (or any part thereof) on the Maturity Date; (b) the Borrowers fail to pay other amount owing hereunder when due and such failure continues unremedied for a period of five Business Days after written notice thereof from any Lender; (c) any representation or warranty made or deemed made by or on behalf of any Borrower hereunder will prove to have been incorrect in any material respect when made or deemed to be made and if such incorrect representation or warranty is not remedied within 15 Business Days after notice thereof from any Lender to the Borrowers; (d) any Borrower fails to observe or perform any other covenant, condition or agreement contained in this Agreement and such failure continues unremedied for a period of 20 Business Days after written notice thereof from any Lender; (e) any Borrower: (i) becomes insolvent, or generally does not or becomes unable to pay its debts or meet its liabilities as the same become due, or admits in writing its inability to pay its debts generally, or declares any general moratorium on its indebtedness, or proposes a compromise or arrangement between it and any class of its creditors; (ii) commits an act of bankruptcy under the Bankruptcy and Insolvency Act (Canada), the United States Bankruptcy Code or under analogous foreign law, or makes an assignment of its property for the general benefit of its creditors under such Act or under analogous foreign law, or makes a
Events of. DefaultSection 6.01.
Events of. DefaultSection 6.01. Events of DefaultSection 6.01. Events Events of DefaultSection 6.01.
Events of. Default ) shall be deemed to include the New Guarantee not being (or being claimed by the New Guarantor not to be) in full force and effect and the provisions of Condition 8(c) to 8(e) ( Events of Default ) inclusive (other than the words "other than in respect of the termination of the Guarantee pursuant to Condition 2(c) ( Termination of 0010155-0003327 UKO2: 2004375908.9 89 Guarantee )" in Condition 8(e)) shall be deemed to apply in addition to the New Guarantor. In connection with any proposed substitution pursuant to this Condition 14 ( Substitution ), the Issuer (or previously substituted company, as the case may be) or Substitute shall not be required to have regard to, or be in any way liable for, the consequences of such substitution for individual Noteholders or the Couponholders resulting from their being for any purpose domiciled or resident in, or otherwise connected with, or subject to the jurisdiction of, any particular territory. No Noteholder or Couponholder shall, in connection with any such substitution, be entitled to claim from the Issuer (or previously substituted company, as the case may be) or Substitute any indemnification or payment in respect of any tax consequence of any such substitution upon such individual Noteholders or Couponholders, except to the extent already provided in Condition ( Taxation ) as modified in accordance with the following paragraph. Where substitution takes place pursuant to this Condition ( Substitution ) and the Substitute is subject, by reason of its incorporation or residence for tax purposes, to jurisdiction or any political subdivision or any authority thereof or therein having power to tax (the Substitute Jurisdiction ) other than the Kingdom of Norway (or, as the case may be, the jurisdiction of incorporation or residence for tax purposes of the preceding substituted company) or any political subdivision or any authority thereof or therein having power to tax (the Previous Jurisdiction ), references to the Previous Jurisdiction in Condition 5(b) ( Redemption for Tax Reasons ) and Condition 6 ( Taxation ) shall, in respect of any payments to be made by the Substitute (but not in respect of payments to be made by
Events of. DEFAULT If any of the following events (each an “Event of Default”) occur, Buyer shall have the rights set forth in Section 14 of this Agreement, as applicable: (a)
Events of. Default If any of the following events (“Events of Default”) shall occur: (a) any Borrower shall fail to pay the principal of any Loan when due and payable, including on the Maturity Date; (b) any Borrower shall fail to pay interest or any other amount owing hereunder when due hereunder and such failure shall continue unremedied for a period of three Business Days after written notice thereof from any Lender; (c) any representation or warranty made or deemed made by or on behalf of any Obligor hereunder or in any Financing Document, Compliance Certificate or Borrowing Request, shall prove to have been incorrect in any material respect when made or deemed to be made; provided that if such incorrect representation or warranty can reasonably be expected to be cured within 15 Business Days, such incorrect representation or warranty is not remedied within 15 Business Days after notice thereof from any Lender to the Obligors; (d) any Borrower shall fail to observe or perform any covenant, condition or agreement contained in Section 5.1(d); (e) any failure by BBP to comply with the financial covenant in Section 5.9 and such failure remains unremedied for five Business Days after a senior officer of a BBP becomes aware of such failure; (f) any Obligor shall fail to observe or perform any other covenant, condition or agreement contained in this Agreement or any other Financing Document, and such failure shall continue unremedied for a period of 20 Business Days after the earlier of a senior officer of an Obligor becoming aware of such failure or written notice thereof from any Lender; - 52 - or discharged for more than 30 days or such longer period during which entitlement to the use of such property continues with the affected party, and the affected party is contesting the same in good faith and by appropriate proceedings, provided that if the property is removed from the use of the affected party, or is sold, in the interim, such grace period will cease to apply; provided that this provision only applies if the property in question is property, the loss of which could reasonably be expected to have a Material Adverse Effect; (l) this Agreement or any other Financing Document, at any time for any reason, terminates or ceases to be in full force and effect and a legally valid, binding and enforceable obligation of the Obligors, is declared to be void or voidable or is repudiated, or the validity, binding effect, legality or enforceability hereof or thereof is at a...
