ARTICLE V
7
EVENT OF DEFAULT
SECTION 5.01 Event of Default. The occurrence of any of the following events (“Event of Default”) shall constitute
the “Event of Default”:
(a) The Borrower fails to pay any amount of principal of, or interest on, the Loan
when due;
(b) Any representation or warranty made by the Borrower (or any of its offices)
under or in connection with this Agreement is proved to have been incorrect in
any material respect when made; or
(c) The Borrower fails in the performance of any other terms, covenants or
agreements contained in this Agreement and any such failure remains
unremedied for ten (10) days after written notice thereof has been given to the
Borrower by the Lender;
In the event of any Event of Default or if the Borrower becomes insolvent or
bankrupt, or a liquidator is appointed for the Borrower or for a substantial part
of its property, or bankruptcy, reorganization, insolvency or similar proceedings
is instituted by or against the Borrower under the laws of any jurisdiction, then,
and in any such event, the Lender may, by notice to the Borrower declare the
Loan, the interest thereon and all other amounts payable under this Agreement
to be forthwith due and payable, whereupon the Loan, the interest and all such
amounts shall become and be forthwith due and payable, without presentment,
demand, protest or further notice of any kind, all of which arc hereby expressly
waived by the Borrower
ARTICLE V7EVENT OF DEFAULTSECTION 5.01 Event of Default. The occurrence of any of the following events (“Event of Default”) shall constitute the “Event of Default”: (a) The Borrower fails to pay any amount of principal of, or interest on, the Loan when due;(b) Any representation or warranty made by the Borrower (or any of its offices) under or in connection with this Agreement is proved to have been incorrect in any material respect when made; or (c) The Borrower fails in the performance of any other terms, covenants or agreements contained in this Agreement and any such failure remains unremedied for ten (10) days after written notice thereof has been given to the Borrower by the Lender;In the event of any Event of Default or if the Borrower becomes insolvent or bankrupt, or a liquidator is appointed for the Borrower or for a substantial part of its property, or bankruptcy, reorganization, insolvency or similar proceedings is instituted by or against the Borrower under the laws of any jurisdiction, then, and in any such event, the Lender may, by notice to the Borrower declare the Loan, the interest thereon and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Loan, the interest and all such amounts shall become and be forthwith due and payable, without presentment, demand, protest or further notice of any kind, all of which arc hereby expressly waived by the Borrower
การแปล กรุณารอสักครู่..
