Common use of Breach of Lease Clause in Contracts

Breach of Lease. The occurrence of any event such that any Indebtedness of the Borrower to any creditor in excess of $500,000.00 other than the Agent or any Lender could be accelerated or, without the consent of the Borrower, Leases with aggregate monthly rents of at least $180,000.00 could be terminated prior to the stated termination date thereof (whether or not the subject creditor or lessor takes any action on account of such occurrence).

Appears in 2 contracts

Samples: Loan and Security Agreement (Designs Inc), Loan and Security Agreement (Designs Inc)

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Breach of Lease. The occurrence of any event such that any Indebtedness of the any Borrower to any creditor in excess of $500,000.00 1,000,000.00 to any creditor other than the Agent or any Revolving Credit Lender could be accelerated or, without the consent of the any Borrower, Leases with aggregate monthly rents of at least $180,000.00 any Lease could be terminated prior to the stated termination date thereof (whether or not the subject creditor or lessor takes any action on account of such occurrence).

Appears in 1 contract

Samples: Loan and Security Agreement (Phar Mor Inc)

Breach of Lease. The occurrence of any event such that any Indebtedness of the Borrower to any creditor in excess of $500,000.00 250,000.00 in the aggregate to any creditor other than the Agent or any Lender could be accelerated or, without the consent of the Borrower, Leases with aggregate monthly rents of at least $180,000.00 could be terminated prior to the stated termination date thereof (whether or not the subject creditor or lessor takes any action on account of such occurrence)more than one Lease is terminated.

Appears in 1 contract

Samples: Loan and Security Agreement (Harrys Farmers Market Inc)

Breach of Lease. The occurrence of any event such that any Indebtedness of the any Borrower to any creditor in excess of $500,000.00 200,000 in the aggregate to any creditor other than the Agent or any Lender could be accelerated or, without the consent of the any Borrower, Leases with aggregate monthly rents of at least $180,000.00 any Capital Lease could be terminated prior to the stated termination date thereof (whether or not the subject creditor or lessor takes any action on account of such occurrence).

Appears in 1 contract

Samples: Loan Agreement (Lojack Corp)

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Breach of Lease. The occurrence of any event such that any Indebtedness of the any Borrower to any creditor other than the Lender in excess of $500,000.00 other than 250,000.00 in the Agent or any Lender aggregate, could be accelerated or, without the consent of the any Borrower, Leases with aggregate monthly rents of at least $180,000.00 could be any Lease is terminated prior to the stated termination date thereof (whether or not the subject creditor or lessor takes any action on account of such occurrence).

Appears in 1 contract

Samples: Loan and Security Agreement (Dreams Inc)

Breach of Lease. The occurrence of any event such that any Indebtedness of the Borrower to any creditor in excess of $500,000.00 other than the Agent or any Lender in excess of $200,000.00 could be accelerated (including, without limitation, under the Term Loan) or, without the consent of the Borrower, Leases any Lease with annual payments in the aggregate monthly rents of at least amount exceeding $180,000.00 200,000.00 could be terminated prior to the stated termination date thereof (whether or not the subject creditor or lessor takes any action on account of such occurrence).

Appears in 1 contract

Samples: Loan and Security Agreement (Sun Television & Appliances Inc)

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