Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts), or violates any of the covenants contained in Article 7 of this Agreement; or (b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 5 contracts
Samples: Loan Agreement (Dyne Therapeutics, Inc.), Loan and Security Agreement (Allena Pharmaceuticals, Inc.), Loan and Security Agreement (Cirius Therapeutics, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), ) or 6.6 (primary accounts), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, condition or covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 4 contracts
Samples: Loan and Security Agreement, Loan and Security Agreement (Kaleido Biosciences, Inc.), Loan and Security Agreement (Rubius Therapeutics, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under in Sections 6.2 (financial reporting)6.3, 6.4 (taxes)6.4, 6.5 (insurance6.6, 6.7, 6.8, 6.9, 6.10(b), or 6.6 (primary accounts), 6.11 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other obligation under Article 6 not listed in clause (a) above or any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 fifteen days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 fifteen day period or cannot after diligent attempts by Borrower be cured within such 10 fifteen day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 4 contracts
Samples: Loan and Security Agreement (EverQuote, Inc.), Loan and Security Agreement, Loan and Security Agreement (EverQuote, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.3, 6.4 (taxes)6.6, 6.5 (insurance)6.7, 6.8, 6.9, 6.10 or 6.6 (primary accounts), 6.11 or violates any of the covenants contained in Article 7 of this Agreement; , or
(b) If Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten days after Borrower receives notice thereof or any officer of Borrower becomes aware the occurrence thereof; provided, however, provided that if the default cannot by its nature be cured within the 10 ten day period or cannot after diligent attempts by Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Loans will be maderequired to be made during such cure period);
Appears in 4 contracts
Samples: Loan and Security Agreement (Imanage Inc), Loan Modification Agreement (Imanage Inc), Loan and Security Agreement (Imanage Inc)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections Section 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, or covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank Agent and/or any Lender and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten-day period or cannot after diligent attempts by Borrower be cured within such 10 ten-day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 4 contracts
Samples: Loan and Security Agreement (Kala Pharmaceuticals, Inc.), Loan and Security Agreement (Kala Pharmaceuticals, Inc.), Loan and Security Agreement (Kala Pharmaceuticals, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts) or 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 4 contracts
Samples: Loan and Security Agreement (SteadyMed Ltd.), Loan and Security Agreement (SteadyMed Ltd.), Loan and Security Agreement (Tobira Therapeutics, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts), or 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 15 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 15 day period or cannot after diligent attempts by Borrower be cured within such 10 15 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 4 contracts
Samples: Loan and Security Agreement (Precision Biosciences Inc), Loan and Security Agreement (Precision Biosciences Inc), Loan and Security Agreement (Precision Biosciences Inc)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)Section 6.2, 6.4 (taxes)6.4, 6.5 (insurance)6.5, 6.6 or 6.6 (primary accounts)6.7, or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 3 contracts
Samples: Loan and Security Agreement (diaDexus, Inc.), Loan and Security Agreement (diaDexus, Inc.), Loan and Security Agreement (diaDexus, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts) or 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 15 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 15 day period or cannot after diligent attempts by Borrower be cured within such 10 15 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 3 contracts
Samples: Loan and Security Agreement (GenMark Diagnostics, Inc.), Loan and Security Agreement (Clearone Communications Inc), Loan and Security Agreement (GenMark Diagnostics, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes)Section 6.4, 6.5 (insurance), or 6.6 (primary accounts), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 3 contracts
Samples: Loan and Security Agreement (Northern Power Systems Corp.), Loan and Security Agreement (Wind Power Holdings Inc), Loan and Security Agreement (Wind Power Holdings Inc)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts) or 6.7 (product covenants), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 3 contracts
Samples: Loan and Security Agreement (Dermira, Inc.), Loan and Security Agreement (Dermira, Inc.), Loan and Security Agreement (Dermira, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts) or 6.7 (financial covenants, if any), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 15 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 15 day period or cannot after diligent attempts by Borrower be cured within such 10 15 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 3 contracts
Samples: Loan and Security Agreement (Evelo Biosciences, Inc.), Loan and Security Agreement (Evelo Biosciences, Inc.), Loan and Security Agreement (Evelo Biosciences, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts) or 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, or covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 15 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 15 day period or cannot after diligent attempts by Borrower be cured within such 10 15 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 3 contracts
Samples: Loan and Security Agreement (SendGrid, Inc.), Loan and Security Agreement (SendGrid, Inc.), Loan and Security Agreement (Evoke Pharma Inc)
Covenant Default. (a) If a Borrower fails to perform any obligation under Article 6 (other than Sections 6.2 (financial reporting)6.1, 6.4 (taxes)6.2, 6.5 (insurance)6.5, or 6.6 (primary accounts6.11(a), ) or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If a Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between a Borrower and Bank Administrative Agent and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten days after a Borrower receives notice thereof or any officer of a Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten day period or cannot after diligent attempts by Borrower Borrowers be cured within such 10 ten day period, and such default is likely to be cured within a reasonable time, then Borrower Borrowers shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 2 contracts
Samples: Loan and Security Agreement (Tabula Rasa HealthCare, Inc.), Loan and Security Agreement (Tabula Rasa HealthCare, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 6.3 (financial reporting)Financial Statements, 6.4 (taxesReports, Certificates), 6.5 (insuranceTaxes), or 6.6 (primary accountsInsurance), 6.7 (Accounts), 6.10 (Creation/Acquisition of Subsidiaries), 6.11 (Litigation Cooperation) or 6.13 (Financial Covenant), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 fifteen (15) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 fifteen (15) day period or cannot after diligent attempts by Borrower be cured within such 10 fifteen (15) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 2 contracts
Samples: Loan and Security Agreement (Cytosorbents Corp), Loan and Security Agreement (Cytosorbents Corp)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts) or 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, or covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 15 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 15 day period or cannot after diligent attempts by Borrower be cured within such 10 15 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 additional days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 2 contracts
Samples: Loan and Security Agreement (Marinus Pharmaceuticals Inc), Loan and Security Agreement (Marinus Pharmaceuticals Inc)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)Article 6 other than Section 6.1, 6.4 (taxes), 6.5 (insurance)6.2, or 6.6 (primary accounts)6.9, or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any provision of Section 6.1, 6.2, or 6.9 or any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 twenty (20) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 twenty (20) day period or cannot after diligent attempts by Borrower be cured within such 10 twenty (20) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 an additional twenty (20) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 2 contracts
Samples: Loan and Security Agreement (Lightpath Technologies Inc), Loan and Security Agreement (Lightpath Technologies Inc)
Covenant Default. (a) If a Borrower fails to perform or observe any obligation under term, covenant or agreement contained (i) in Sections 6.2 (financial reporting)6.1, 6.4 (taxes)6.3, 6.5 (insurance)6.4, 6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.12 or 6.6 (primary accounts), or violates any of the covenants contained in Article 7 of this Agreement; orVII;
(ba) If a Borrower fails or neglects to perform or observe any other material term, provision, condition, or covenant contained in this Agreement, Agreement or in any of the Loan Documents, or in any other present or future agreement between a Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten days after a Borrower receives notice thereof or any officer of a Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten day period or cannot after diligent attempts by such Borrower be cured within such 10 ten day period, and such default is likely to be cured within a reasonable time, then such Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 2 contracts
Samples: Loan and Security Agreement (Journey Medical Corp), Loan and Security Agreement (Journey Medical Corp)
Covenant Default. (a) If a Borrower fails to perform any obligation under Sections Section 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts) or 6.7 (financial covenant), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If a Borrower fails or neglects to perform or observe any other material term, provision, condition, or covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between a Borrower and Bank Agent and/or any Lender and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten days after a Borrower receives notice thereof or any officer of a Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten-day period or cannot after diligent attempts by Borrower Borrowers be cured within such 10 ten-day period, and such default is likely to be cured within a reasonable time, then Borrower Borrowers shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 2 contracts
Samples: Loan and Security Agreement (Asante Solutions, Inc.), Loan and Security Agreement (Asante Solutions, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts), Article 6 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 fifteen (15) days after Borrower receives notice thereof or any officer Responsible Officer of Borrower (or Borrower’s General Counsel) becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 fifteen (15) day period or cannot after diligent attempts by Borrower be cured within such 10 fifteen (15) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 2 contracts
Samples: Loan and Security Agreement (Somaxon Pharmaceuticals, Inc.), Loan and Security Agreement (Santarus Inc)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.2, 6.4 (taxes)6.4, 6.5 (insurance)6.5, 6.6, 6.7 6.8, 6.10 or 6.6 (primary accounts), 6.11 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other provision of Article 6 or any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 2 contracts
Samples: Loan and Security Agreement, Loan and Security Agreement (Legalzoom Com Inc)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts) or 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 20 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 20 day period or cannot after diligent attempts by Borrower be cured within such 10 20 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 2 contracts
Samples: Loan and Security Agreement (Aratana Therapeutics, Inc.), Loan and Security Agreement (Aratana Therapeutics, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 Section 6.1 (financial reportingwith respect to maintenance of Borrower’s existence), 6.4 (taxes)6.3, 6.5 (insurance)6.8, 6.9, 6.10 or 6.6 (primary accounts)6.11, or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If or if Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, Agreement or in any other present or future agreement between Borrower and Bank a Lender, and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 fifteen (15) days after Borrower receives notice thereof or any officer Responsible Officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day such period or cannot after diligent attempts by Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) or other longer period of time as agreed upon by Administrative Agent in writing to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions will be maderequired to be made during such cure period);
Appears in 2 contracts
Samples: Loan and Security Agreement (Ubiquiti Networks, Inc.), Loan and Security Agreement (Ubiquiti Networks, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections Section 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), ) or 6.6 (primary accounts), ) or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that that, if the default cannot by its nature be cured within the 10 day ten (10)-day period or cannot after diligent attempts by Borrower be cured within such 10 day period, ten (10)-day period and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 2 contracts
Samples: Loan and Security Agreement (Liquidia Technologies Inc), Loan and Security Agreement (Liquidia Technologies Inc)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.5, 6.4 (taxes), 6.5 (insurance)6.6, or 6.6 (primary accounts), 6.7 or violates any of the covenants contained in Article 7 of this Agreement7; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 2 contracts
Samples: Loan and Security Agreement (Maxwell Technologies Inc), Loan and Security Agreement (Maxwell Technologies Inc)
Covenant Default. (a) If a Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts), or violates any of the covenants contained in Article 7 of this Agreement; or;
(b) If a Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between a Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after a Borrower receives notice thereof or or, any officer of a Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrower Borrowers be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrower Borrowers shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 2 contracts
Samples: Loan and Security Agreement, Loan and Security Agreement (Obalon Therapeutics Inc)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accountsdepository), or 6.7 (cash security account), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, or covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 15 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 15 day period or cannot after diligent attempts by Borrower be cured within such 10 15 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 2 contracts
Samples: Loan and Security Agreement (Precision Biosciences Inc), Loan and Security Agreement (Precision Biosciences Inc)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts) or 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 2 contracts
Samples: Loan Agreement (Acorn Energy, Inc.), Loan and Security Agreement (Viveve Medical, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts)Article 6, or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case without Bank’s consent exceed 30 thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 2 contracts
Samples: Loan and Security Agreement (Bellicum Pharmaceuticals, Inc), Loan and Security Agreement (Bellicum Pharmaceuticals, Inc)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts) or 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 15 day period or cannot after diligent attempts by Borrower be cured within such 10 15 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 2 contracts
Samples: Loan and Security Agreement (LOCAL.COM), Loan and Security Agreement (LOCAL.COM)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts) or 6.7 (milestone covenants), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, or covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 15 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 15 day period or cannot after diligent attempts by Borrower be cured within such 10 15 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 2 contracts
Samples: Loan Agreement, Loan and Security Agreement (Heat Biologics, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)Section 6.2, 6.4 (taxes)6.4, 6.5 (insurance)6.5, 6.6 or 6.6 (primary accounts)6.7, or violates any of the covenants contained in Article 7 of this Agreement;
(b) If Borrower fails or neglects to perform any obligation under Sections 6.1, 6.3, 6.8, 6.9 or 6.10 and has failed to cure such default within 10 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; or
(bc) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 2 contracts
Samples: Loan and Security Agreement (Upland Software, Inc.), Loan and Security Agreement (Upland Software, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.2, 6.4 (taxes), 6.5 (insurance), 6.6 or 6.6 (primary accounts), 6.7 or violates any of the covenants contained in Article Section 7 of this Agreement; , or
(b) If Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this AgreementAgreement (other than as described in Section 8.2(a)), in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank any Lender and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 daysthirty (30) days after the end of such ten (10) day period) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions will be made;made during such cure period).
Appears in 2 contracts
Samples: Loan and Security Agreement (Cadence Pharmaceuticals Inc), Loan and Security Agreement (Cadence Pharmaceuticals Inc)
Covenant Default. (a) If a Borrower fails to perform any obligation under Sections 6.2 (financial reporting)Article 6 other than Section 6.1, 6.4 (taxes), 6.5 (insurance)6.2, or 6.6 (primary accounts), 6.10 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If a Borrower fails or neglects to perform or observe any provision of Section 6.1, 6.2, or 6.10 or any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between such Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 twenty (20) days after such Borrower receives notice thereof or any officer of such Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 twenty (20) day period or cannot after diligent attempts by such Borrower be cured within such 10 twenty (20) day period, and such default is likely to be cured within a reasonable time, then such Borrower shall have an additional reasonable period (which shall not in any case exceed 30 an additional twenty (20) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 2 contracts
Samples: Loan and Security Agreement, Loan and Security Agreement (Lightpath Technologies Inc)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts), Article 6 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank Lender and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 twenty (20) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 twenty (20) day period or cannot after diligent attempts by Borrower be cured within such 10 twenty (20) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 2 contracts
Samples: Loan and Security Agreement (Roka BioScience, Inc.), Loan and Security Agreement (Roka BioScience, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts) or 6.7 (milestone covenant), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days Business Days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day Business Day period or cannot after diligent attempts by Borrower be cured within such 10 day Business Day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 2 contracts
Samples: Loan and Security Agreement (Auspex Pharmaceuticals, Inc.), Loan and Security Agreement (Auspex Pharmaceuticals, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts) or 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 15 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrower be cured within such 10 15 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 2 contracts
Samples: Loan and Security Agreement (Oxford Immunotec Global PLC), Loan and Security Agreement (Oxford Immunotec Global PLC)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), ) or 6.6 (primary accounts), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after Borrower receives notice thereof or any officer Responsible Officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 2 contracts
Samples: Loan and Security Agreement (Unum Therapeutics, Inc.), Loan and Security Agreement (Unum Therapeutics, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts), or 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, or covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 15 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 15 day period or cannot after diligent attempts by Borrower be cured within such 10 15 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 2 contracts
Samples: Loan and Security Agreement (Xilio Therapeutics, Inc.), Loan and Security Agreement (Xilio Therapeutics, Inc.)
Covenant Default. (a) If a Borrower fails or neglects to perform any obligation under Sections 6.2 (financial reporting)Section 3.3, 6.4 (taxes)6.3, 6.5 (insurance)6.5, 6.6, 6.7, 6.8, 6.9, 6.12 or 6.6 (primary accounts), 6.13 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If a Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the other Loan Documents, or in any other present or future agreement between a Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 fifteen (15) days after a Borrower receives notice thereof or any officer Responsible Officer of a Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 fifteen (15) day period or cannot after diligent attempts by Borrower Borrowers be cured within such 10 fifteen (15) day period, and such default is likely to be cured within a reasonable time, then Borrower Borrowers shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts), Article 6 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 twenty days after Borrower receives notice thereof or [***] = Confidential treatment requested for redacted portion; redacted portion has been filed separately with the Securities and Exchange Commission. any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten day period or cannot after diligent attempts by Borrower be cured within such 10 ten day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 40 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.7, 6.4 (taxes)6.8, 6.5 (insurance)6.9, 6.10, or 6.6 (primary accounts), 6.11 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances or Term Loan Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If a Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.2, 6.4 (taxes)6.4, 6.5 (insurance)6.5, 6.6, 6.7, 6.9 or 6.6 (primary accounts), 6.11 or violates any of the covenants contained in Article Section 7 of this Agreement; or
(b) If a Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between a Borrower and Bank Lender and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 15 days after a Borrower receives notice thereof or any officer of a Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 15 day period or cannot after diligent attempts by Borrower Borrowers be cured within such 10 15 day period, and such default is likely to be cured within a reasonable time, then Borrower Borrowers shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Samples: Credit Agreement (Trupanion Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.2, 6.4 (taxes)6.3, 6.5 (insurance)6.5, 6.6, 6.7, 6.8, or 6.6 (primary accounts)6.9, or if Borrower violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 twenty days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten day period or cannot after diligent attempts by Borrower be cured within such 10 twenty day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.3, 6.4 (taxes)6.5, 6.5 (insurance)6.6, 6.7, 6.8, 6.10 or 6.6 (primary accounts), 6.11 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank Lender and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 fifteen (15) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 fifteen (15) day period or cannot after diligent attempts by Borrower be cured within such 10 fifteen (15) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 fifteen (15) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but but, at Lender’s option, no Credit Extensions will be made;.
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation ---------------- under Sections 6.2 (financial reporting)6.3, 6.4 (taxes)6.7, 6.5 (insurance)6.8, 6.9, 6.10, 6.11 or 6.6 (primary accounts), 6.12 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower , or fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such obligation, term or other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten business (10) days after Borrower receives notice thereof or any officer of Borrower a Responsible Officer becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) business day period or cannot after diligent attempts by Borrower be cured within such 10 ten business (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but "provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.7, 6.4 (taxes)6.8, 6.5 (insurance)6.9, 6.10, or 6.6 (primary accounts), 6.11 or violates any of the covenants contained in Article 7 of this Agreement; , or
(b) If Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts), 6.7 (financial covenants) or 6.12 (amended and restated subordination agreement) or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, or covenant contained in this AgreementAgreement (other than the sections enumerated in Section 8.2(a) above), in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 15 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 15 day period or cannot after diligent attempts by Borrower be cured within such 10 15 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Samples: Loan and Security Agreement (Diamond Eagle Acquisition Corp. \ DE)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accountsdepository), or 6.7 (cash security account), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, or covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 15 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 15 day period or cannot after diligent attempts by Borrower be cured within such 10 15 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 45 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Samples: Loan and Security Agreement (Ekso Bionics Holdings, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation ---------------- under Sections 6.2 (financial reporting)6.7, 6.4 (taxes)6.8, 6.5 (insurance)6.9, 6.10, 6.11, 6.12 or 6.6 (primary accounts), 6.13 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower , or fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrower receives notice thereof or any officer Responsible Officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.7, 6.4 (taxes)6.8, 6.5 (insurance)6.9, 6.10, or 6.6 (primary accounts), 6.11 or violates any of the covenants contained in Article 7 of this Agreement; , or
(b) If Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; , provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.3, 6.4 (taxes)6.6, 6.5 (insurance)6.7, 6.8, 6.9, or 6.6 (primary accounts)6.10, or violates any of the covenants contained in Article 7 of this Agreement; , or
(b) If Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 thirty (30) days after notice by Bank to Borrower receives notice thereof or any officer of Borrower becomes aware the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the 10 thirty (30) day period or cannot after diligent attempts by Borrower be cured within such 10 thirty (30) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Samples: Loan and Security Agreement (Mobius Management Systems Inc)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accountsdepository) or 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.3, 6.4 (taxes)6.7, 6.5 (insurance)6.8, 6.9, 6.10, 6.11 or 6.6 (primary accounts), 6.12 or violates any of the covenants contained in Article 7 of this Agreement; , or
(b) If Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts), or 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, or covenant contained in this Agreement, in any of the Loan Documentsdocuments, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 15 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 15 day period or cannot after diligent attempts by Borrower be cured within such 10 15 day period, and such default is likely to be cured within a reasonable time, then the Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 15 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 15-day period or cannot after diligent attempts by Borrower be cured within such 10 15-day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Samples: Loan and Security Agreement (Omega Therapeutics, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)Article 6 other than Section 6.1, 6.4 (taxes), 6.5 (insurance)6.2, or 6.6 (primary accounts), 6.10(a) or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any provision of Section 6.1, 6.2, 6.10(a) or any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 twenty (20) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 twenty (20) day period or cannot after diligent attempts by Borrower be cured within such 10 twenty (20) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 an additional twenty (20) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Samples: Loan and Security Agreement (Lightpath Technologies Inc)
Covenant Default. (a) If Borrower fails Borrower's failure to perform any obligation under Sections 6.2 (financial reporting), 6.4 6.3 (taxes), 6.5 6.4 (insurance), or 6.6 6.5 (primary accounts), or violates any of the covenants contained in Article 7 of this Agreement; or;
(b) If Borrower fails Borrower's failure or neglects neglect to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between a Borrower and Bank Lenders and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after a Borrower receives notice thereof or or, any officer of a Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrower Borrowers be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrower Borrowers shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Samples: Secured Short Term Loan Agreement
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.1, 6.4 (taxes)6.2, 6.5 (insurance)6.3, 6.4, 6.5, 6.6, 6.7, 6.8, 6.9 or 6.6 (primary accounts), 6.10 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts), or 6.7 (financial covenants), or violates any of the covenants contained in Article 7 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Samples: Loan and Security Agreement (Liquidia Technologies Inc)
Covenant Default. (a) If Borrower fails or neglects to perform any obligation under in Sections 6.2 (financial reporting)6.2, 6.4 (taxes)6.3, 6.5 (insurance)6.5, 6.6, or 6.6 (primary accounts), 6.7 or violates any of the covenants contained covenant in Article 7 of this AgreementSection 7; or
(b) If Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant or agreement contained in this Agreement, in Agreement or any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default (other than those specified in this Section 8) under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such the default within 10 ten (10) days after Borrower receives notice thereof or any officer the earlier of (i) a Responsible Officer of Borrower becomes aware thereofof such default or (ii) receipt by Borrower of notice from Bank of such default; provided, however, that if the default cannot by its nature be cured within the 10 thirty (30) day period or cannot after diligent attempts by Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such cure the default shall not be deemed an Event of Default (but no Credit Extensions will shall be mademade during such cure period). Cure periods provided under this section shall not apply, among other things, to financial covenants or any other covenants set forth in clause (a) above;
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.3, 6.4 (taxes)6.6, 6.5 (insurance)6.7, 6.8, 6.9, 6.10, 6.11, 6.12, or 6.6 (primary accounts), 6.13 or violates any of the covenants contained in Article 7 of this Agreement; , or
(b) If Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrower fails Borrowers fail to perform any obligation under Sections 6.2 (financial reporting)6.7, 6.4 (taxes)6.8, 6.5 (insurance)6.9, 6.10, 6.11, 6.12 or 6.6 (primary accounts), 6.13 or violates any of the covenants contained in Article Section 7 of this Agreement; , or
(b) If Borrower Borrowers fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower Borrowers and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrower Borrowers receives notice thereof or any officer of Borrower Borrowers becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrower Borrowers be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower Borrowers shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but provided that no Credit Extensions Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrower fails Borrowers fail to perform any obligation or meet any requirement under Sections 6.2 (financial reporting)6.7, 6.4 (taxes)6.8, 6.5 (insurance), 6.9 or 6.6 (primary accounts), 6.10 or violates any of the covenants contained in Article 7 of this Agreement; , or
(b) If any Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between any Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after any Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by such Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower Borrowers shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions such Advances will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting3.3(b), 6.4 (taxes)6.1, 6.5 (insurance)6.3, 6.7, 6.8, 6.10, 6.12, or 6.6 (primary accounts)6.13, or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank Agent and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.3, 6.4 (taxes)6.5, 6.5 (insurance)6.6, or 6.6 (primary accounts)6.7, 6.8, 6.9 and 6.13 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, Agreement or in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 fifteen (15) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be by cured within the 10 fifteen (15) day period or cannot after diligent attempts by Borrower be cured within such 10 fifteen (15) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Samples: Loan and Security Agreement (Scientific Learning Corp)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.7, 6.4 (taxes)6.8, 6.5 (insurance)6.9, 6.10, or 6.6 (primary accounts), 6.11 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 Article 6 (financial reporting)other than Section 6.1, 6.4 (taxes)6.2, 6.5 (insuranceor 6.10(a), or 6.6 (primary accounts), ) or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any obligation under Section 6.1, 6.2, 6.5 or 6.10(a) or any other material term, provision, condition, or covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten day period or cannot after diligent attempts by Borrower be cured within such 10 ten day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)3.3, 6.4 (taxes)6.2, 6.5 (insurance)6.4, 6.5, 6.6, 6.7, or 6.6 (primary accounts)6.12, or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank Administrative Agent and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day ten (10)-day period or cannot after diligent attempts by Borrower be cured within such 10 day ten (10)-day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Covenant Default. (a) If a Borrower fails to perform any obligation under Sections 6.2 Article 6 (financial reporting)other than Section 6.1, 6.4 (taxes)6.2, 6.5 (insurance)6.4, or 6.6 (primary accounts), and 6.10) or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If a Borrower fails or neglects to perform or observe any obligation under Section 6.1, 6.2, 6.4, or 6.10 or any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between such Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten days after such Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten day period or cannot after diligent attempts by such Borrower be cured within such 10 ten day period, and such default is likely to be cured within a reasonable time, then such Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.3, 6.4 (taxes)6.5, 6.5 (insurance)6.6, 6.7, 6.8, 6.9, 6.10, 6.11, 6.12 or 6.6 (primary accounts), 6.14 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 fifteen days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 fifteen day period or cannot after diligent attempts by Borrower be cured within such 10 fifteen day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.3, 6.4 (taxes)6.7, 6.5 (insurance)6.8, 6.9, 6.10 or 6.6 (primary accounts), 6.11 or violates any of the covenants contained in Article 7 of this Agreement; , or
(b) If Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten (10) day period or cannot after diligent attempts by Borrower be cured within such 10 ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.3, 6.4 (taxes)6.6, 6.5 (insurance)6.7, 6.8, 6.9, 6.10 or 6.6 (primary accounts), 6.11 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If , or if Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any such default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 fifteen (15) days after Borrower receives notice thereof or any officer of Borrower becomes aware Borrower's actual knowledge thereof; provided, however, that if the default cannot by its nature be cured within the 10 fifteen (15) day period or cannot after diligent attempts by Borrower be cured within such 10 fifteen (15) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 daysthirty (30) days after Borrower's actual knowledge) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions will be maderequired to be made during such cure period);
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), or 6.6 (primary accounts) or 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, or covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Samples: Loan and Security Agreement (Aldexa Therapeutics, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 Section 6.1 (financial reportingwith respect to maintenance of Borrower’s existence), 6.4 (taxes)6.3, 6.5 (insurance)6.8, 6.9, 6.10 or 6.6 (primary accounts)6.11, or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If or if Borrower fails or neglects to perform perform, keep, or observe any other material term, provision, condition, covenant covenant, or agreement contained in this Agreement, in any of the Loan Documents, Agreement or in any other present or future agreement between Borrower and Bank a Lender, and as to any default under such other term, provision, condition condition, covenant or covenant agreement that can be cured, has failed to cure such default within 10 fifteen (15) days after Borrower receives notice thereof or any officer Responsible Officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day such period or cannot after diligent attempts by Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) or other longer period of time as agreed upon by Agent in writing to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but (provided that no Credit Extensions will be maderequired to be made during such cure period);
Appears in 1 contract
Samples: Loan and Security Agreement (Ubiquiti Networks, Inc.)
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.2, 6.4 (taxes)6.4, 6.5 (insurance)6.5, 6.6, 6.7, 6.9 or 6.6 (primary accounts), 6.10 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that that, except with respect to violations of Sections 6.1, 6.3 or 6.8, if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;
Appears in 1 contract
Covenant Default. (a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting)6.1, 6.4 (taxes)6.2, 6.5 (insurance)6.3, 6.5, 6.6, 6.7, 6.8, 6.9, or 6.6 (primary accounts), 6.11 or violates any of the covenants contained in Article 7 of this Agreement; or
(b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 ten days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 ten day period or cannot after diligent attempts by Borrower be cured within such 10 ten day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made;.
Appears in 1 contract
