Event of Default

Event of Default. Any of the following events: (a) there shall occur any "Default" under the Loan Agreement, as such term is defined therein; (b) any of the Pledged Collateral shall be attached or levied upon or seized in any legal proceedings, or held by virtue of any Lien or distress, which, in each case, shall continue undischarged or unstayed for sixty (60) days; (c) breach of any covenant or failure to perform any agreement or obligation set forth in this Agreement not cured within 15 days following the... date of written notice of such breach; or (d) Pledgor makes any representations or warranties in this Agreement or in any certificate or statement furnished at any time hereunder or thereunder or in connection herewith or therewith which proves to have been untrue or misleading in any material respect when made or furnished and which continues to be untrue or misleading in any material respect. View More

Event of Default. Has the meaning ascribed to such term in the Debentures.

Event of Default. An Event of Default as defined in Paragraph 20(a).

Event of Default. An Event of Default as defined in Paragraph 19

Event of Default. Borrower's non-performance of its obligations as provided in this Note.

Event of Default. An "Event of Default" shall occur when a party breaches any material term or condition of this Agreement and such party fails to cure such breach within ten (10) days after receiving written notice of such breach from the other party. A breach of a material term shall mean (a) a failure to perform any of the Services in the manner set forth herein or (b) a failure to pay any undisputed amount under this Agreement.

Event of Default. Means any Event of Default under, and as defined in, the Credit Agreement and any payment default under any Hedging Agreement entered into in respect of the Borrower's obligations with respect to the outstanding Loans and/or Commitments from time to time, after any applicable grace period.

Event of Default. Shall have the meaning given to that term in the Notes. For the avoidance of doubt, if a specific event, matter or circumstance does not become an Event of Default until the passage of time and/or giving of notice, it shall not be considered an Event of Default for purposes of this Agreement until such giving of notice and/or passage of time.

Event of Default. Any of the following: (i) the failure of the Debtor to pay any part of the principal of, or interest on, the Note, when due, whether at stated maturity, by acceleration or otherwise; (ii) a breach by the Debtor of any representation, warranty or covenant made by the Debtor under this Agreement; (iii) any default under, breach of any provisions pertaining to, or acceleration of any Superior Indebtedness; (iv) all or substantially all of the assets of the Debtor, or the Collateral or any material... portion thereof, is attached, seized, subject to a writ of distress warrant, or levied upon, or comes into the possession of any receiver, trustee, custodian or assignee for the benefit of creditors without being vacated, stayed, dismissed or set aside within 30 days after the occurrence thereof; (v) Sefton ceases to own at least 51% of the outstanding equity securities and voting power of the Debtor; (vi) The Debtor or Sefton (A) applies for or consents to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property, (B) makes a general assignment for the benefit of its creditors, (C) commences a voluntary case under the Bankruptcy Code (as now or hereafter in effect), (D) files a petition seeking to take advantage of any other law providing for the relief of debtors, (E) fails to controvert in a timely or appropriate manner, or acquiesces in writing to, any petition filed against it in an involuntary case under the Bankruptcy Code, (F) takes any action under the laws of its jurisdiction of organization analogous to any of the foregoing or (G) takes any requisite action for the purpose of effecting any of the foregoing; or (vii) a proceeding or case is commenced, without the application or consent of the Debtor or Sefton in any court of competent jurisdiction, seeking (A) the liquidation, reorganization, dissolution, winding up, or composition or readjustment of its debts, (B) the appointment of a trustee, receiver, custodian, liquidator or the like of it or of all or any substantial part of its assets or (C) similar relief in respect of it, under any law providing for the relief of debtors, and the proceeding or case continues undismissed, or unstayed and in effect, for a period of 45 days against the Debtor or Sefton; or action under the laws of the jurisdiction of organization of the Debtor or Sefton analogous to any of the foregoing is taken with respect to the Debtor or Sefton and continues undismissed, or unstayed and in effect, for a period of 45 days. View More

Event of Default. Means an event or circumstance defined as an "Event of Default" in any Loan Document, which entitles the Bank to accelerate the payment of the Secured Obligations.