15.1 each of the following events shall be an event of default:
(1) the borrower fails to pay any sum due and payable hereunder in such amount, currency manner or at such time in accordance with be provisions hereof.
(2) save as provided in clause 15.1(1)above the borrower fails to duly and punctually perform or comply with any other obligation under any fiancé document and this irregularity remains 30 business days after writer notice of the lender.
(3) the borrower fails to comply with any representation, warranty or statement made by it in or in connection with any finace document or any document provided by it thereunder, or any foregoing representation, warranty or undertaking made or repeated(or deemed to be repeated)by the borrower is incorrect or misleading in any substantial respect and remains incorrect in any material respect 30 business days after written notice of the lender.
(4)in relation to the borrower, it fails to pay any indebtedness due and payable; or the occurrence of any event of default ( howsoever described) ( or any event which, with the giving of notice, the lapse of any period, the satisfaction of any other applicable conditions or the make of substantial determination or other wise concurrence of any above circumstance, would be likely to constitute an event of default) under any document in connection with its indebtedness; or any indebtedness of any of them is declared to be or otherwise becomes due and payable immediately or prior to its specified maturity as a result of an event of default (howsoever decribed) under the relevant documents in connection therewith; any commitment for any indebtedness of any of them is cancelled or suspended as a result of an event of default (howsoever described) under the relevant documents in connection therewith; or any security interest to secure any indebtedness of any of them is realized. This does not apply, if the relevant indebtedness does not exceed an aggregate amount of RMB 100,000,000.
(5)the borrower fails to comply with or perform any final and effective judgement or order made or given by any court of competent jurisdiction; or the borrower fails to pay any final and effective judgement or order made or given by any court of competent jurisdiction.
(6)the borrower, by reason of current inability to meet any indebtedness as they fall due or similar circumstances, commences negotiations with onc or more of its creditors with a view to the general redjustment, rescheduling or a general assignment of its indebtedness.
(7)the borrower takes any corporate action or any person takes any step, or commences any legal proceedings, or makes any order, or presents any petition or passes any resolution for the winding-up, administration, liquidation, bankruptcy or dissolution of the borrower or for the appointment of a liquidator, trustee bankruptcy or receiver of the borrower or for all or any part of its assets revenues for such purpose.