Breach of Material Contracts. If any party to any of the Material Contracts is in breach in any material respect of its obligations thereunder and such breach or default has a Material Adverse Effect.
Breach of Material Contracts. (a) Any Obligor fails duly to perform or comply with any obligation expressed to be assumed by it in any of the Material Contracts to which it is a party (other than the Licence), where such failure would be reasonably likely to have a Material Adverse Effect.
(b) Any Authorisation necessary for any Obligor to comply with any Material Contract or any Material Contract (other than the Licence) is cancelled, suspended, withdrawn, revoked or terminated or expires by effluxion of time in a manner or circumstances (in whole or in part) without being replaced as soon as reasonably practicable on terms not materially less favourable than such Material Contract.
Breach of Material Contracts. Any Loan Party or any Subsidiary thereof fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Material Contract or fails to observe or perform any other agreement or condition relating to any such Material Contract or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which failure, default or other event is to cause, or to permit the counterparty to such Material Contract to terminate such Material Contract; or
Breach of Material Contracts. (a) Any Material Contract is modified or amended without the consent of the Off Shore Facility Agent or materially breached (other than a breach by a Finance Party of its obligations under the Finance Documents).
(b) Any Material Contract is cancelled, revoked or terminated prior to the end of its term without the consent of the Off Shore Facility Agent.
(c) No Event of Default under paragraph (a) above will occur if the relevant breach is capable of remedy and is remedied within any grace period applicable under such Material Contract.
(d) No Event of Default under paragraph (a) or (b) above will occur if such Material Contract is permitted to be modified, amended, substituted, terminated or expire in accordance with the terms of Clause 24.27(a) (Amendments).
Breach of Material Contracts. The Business Loan Agreement dated April 21, 1999 among Clinsites, the direct and indirect subsidiaries of Clinsites, White Pines Management L.L.C. and certain other "Lenders." The Security Agreement dated April 21, 1999 among PDA and the Lenders. The Security Agreement dated April 21, 1999 among Clinsites and the Lenders Lease agreement dated May 28, 1998 between Copelco Capital and Clinsites for KONAN specular microscope. Finance Agreement dated July 3, 1998 between HPSC, Inc. and Clinsites for a Lombart specular microscope. Finance Agreement dated August 21, 1998 between HPSC, Inc. and Clinsites for a Lombart specular microscope. Schedule 5.05 Required Consents White Pines Management L.L.C. as agent for the "Lenders" under the Business Loan Agreement dated April 21, 1999, and the Loan Documents (as defined in the Business Loan Agreement). Schedule 5.06 Financial Statements of Seller Pharmaceutical Development Associates, Inc. Balance Sheet As of December 31, 1999 Dec 31, '99 ------------ ASSETS Current Assets Checking/Savings Intercompany-PDA 347,806.30 Checking First Commerce 503.34 ------------ Total Checking/Savings 348,309.64 Accounts Receivable WIP 84,965.68 A/R Sponsors 295,836.98 Allowance for doubtfull account (61,210.28) Total Accounts Receivable 319,592.38 Other Current Assets Income tax receivable 750.00 Due from CDAI 127,394.99 Prepaid Expenses Legal 850.33 American Express 2,462.24 Total Prepaid Expenses 3,312.57 Employee Advances 443.45 Total Other Current Assets 131,901.01 Total Current Assets 799,803.03 Fixed Assets Computer equipment 2,217.28 Computer Software 5,969.80 Medical Equipment 71,392.91 Furniture & Fixtures 40,833.70 Office Equipment 118,317.92 Accum Depreciation (124,477.41) Total Fixed Assets 114,254.20
Breach of Material Contracts. (a) Any Obligor falls duly to perform or comply with any obligation expressed to be assumed by it in any of the Material Contracts to which it is a party (other than the Licence), where such failure would be reasonably likely to have a Material Adverse Effect.
(b) Any Authorisation necessary for any Obligor to comply with any Material Contract or any Material Contract (other than the Licence) is cancelled, suspended, withdrawn, revoked or terminated or expires by effluxion of time in a manner or circumstances (in whole or in part) without being replaced as soon as reasonably practicable on terms not materially less favourable than such Material Contract.
Breach of Material Contracts a legal opinion, in a form and substance satisfactory to the Lessor, has been provided in the Relevant Country in which the relevant Equipment the subject of the relevant drawdown is to be located;
Breach of Material Contracts. BREACH OF LEASE.
(a) The occurrence of any event such that any Indebtedness of the Borrower in excess of $2,000,000 to any creditor other than the Agent could be accelerated (whether or not the subject creditor takes any action on account of such occurrence).
(b) The default by Borrower under any Material Contract which default continues for more than the applicable cure period, if any, with respect thereto which default could have a Material Adverse Effect.
(c) The default by Borrower under any Credit Card Agreement, which default continues for more than the applicable cure period, if any, with respect thereto which default could have a Material Adverse Effect, or any Credit Card Issuer or Credit Card Processor withholds payment of amounts otherwise payable to the Borrower to fund a reserve account or otherwise hold as collateral, or shall require the Borrower to pay funds into a reserve account or for such Credit Card Issuer or Credit Card Processor to otherwise hold as collateral, or the Borrower shall provide a letter of credit, guarantee, indemnity or similar instrument to or in favor of such Credit Card Issuer or Credit Card Processor such that in the aggregate all of such funds in the reserve account, other amounts held as collateral and the amount of such letters of credit, guarantees, indemnities or similar instruments shall exceed $2,000,000 or any Credit Card Issuer or Credit Card Processor shall debit or deduct any amounts in excess of $100,000 in any instance and $500,000 in the aggregate in any Fiscal Year of the Borrower from any deposit account of the Borrower.
(d) Any Credit Card Issuer or Credit Card Processor shall send written notice to Borrower that it is ceasing to make or suspending payments to the Borrower of amounts due or to become due to the Borrower or shall cease or suspend such payments, or shall send written notice to the Borrower that it is terminating its arrangements with the Borrower or such arrangements shall terminate as a result of any event of default under such arrangements, which continues for more than the applicable cure period, if any, with respect thereto, unless the Borrower shall have entered into arrangements with another Credit Card Processor or Credit Card Issuer, as the case may be, with thirty (30) days after the date of such notice.
(e) The occurrence of any of the following with respect to Leases on which the Borrower is the lessee or is obligated and which do not constitute Eligible Leaseholds:
(i) Def...
Breach of Material Contracts. (mm) so far as the Seller is aware all Material Contracts are valid and subsisting and no material default exists thereunder;
Breach of Material Contracts
