Cross Default and Cross Collateral Sample Clauses

Cross Default and Cross Collateral. 41 - In furtherance of prior provisions hereof, Borrower agrees and acknowledges that the occurrence of an Event of Default under the terms of this Agreement shall constitute an Event of Default under the Note, the Mortgage, and the other Loan Documents and under the documents evidencing any other loan now existing or hereafter made by Lender to Borrower or any of its Affiliates whether or not such loan is secured by all or any portion of the Property. The security interests, liens and other rights and interests in and relative to any of Borrower Collateral now or hereafter granted to Lender by Borrower or its Affiliates by or in any instrument or agreement, including but not limited to this Agreement and the other Loan Documents shall serve as security for any and all liabilities of Borrower and/or its Affiliates to Lender, including but not limited to the liabilities described in this Agreement, the Note, the Mortgage, and the other Loan Documents and, for the repayment thereof, Lender may resort to any security held by it in such order and manner as it may elect. 10.23
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Cross Default and Cross Collateral. In furtherance of prior provisions hereof, Borrower agrees and acknowledges that the occurrence of an Event of Default under the terms of this Agreement shall constitute an Event of Default under the Note, the Mortgage, and the other Loan Documents and under the documents evidencing any other loan now existing or hereafter made by Lender to Borrower or any of its Affiliates whether or not such loan is secured by all or any portion of the Property.
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Cross Default and Cross Collateral. The Borrower and the Bank have entered into a loan transaction (the "Construction Loan") regarding the construction of improvements on real property adjacent to the Property pursuant to which the Borrower has executed and delivered to Bank a Construction Loan Agreement of even date herewith, (the "Construction Loan Agreement") and other documents and instruments in connection with the Construction Loan as described in the Construction Loan Agreement (the "Construction Loan Documents"). The Construction Loan Documents provide that the Obligations under the Construction Loan are additionally secured by the Loan Documents encumbering the Property and that any default under the Construction Loan Documents shall be a default under the Loan Documents. Further, repayment of the Loan is additionally secured by the Construction Loan Documents and any default under the Loan Documents shall be deemed a default under the Construction Loan Documents. At such time as the Construction Loan is paid in full, the Borrower and Bank will either execute a modification of the Loan to extinguish the cross-default and cross-collateral provisions with respect to the Construction Loan or the Bank will mxxx the Construction Note "paid in full and cancelled, " but will retain the original thereof in order to effect a release of the Deed of Trust when the Note is paid in full.
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Cross Default and Cross Collateral. In addition to the terms and conditions set forth in the Cross Collateralization and Cross Default Agreement executed on even date herewith between the Borrower and the Bank, the Borrower acknowledges and agrees that the occurrence of an Event of Default under the terms of this Mortgage shall constitute a default under the other Loan Documents in effect at the time of any such default and under the documents evidencing any other loan now existing or hereafter made by the Bank to the Borrower, and a default under the other Loan Documents or any of them or any of said existing or future loans shall constitute an Event of Default under this Mortgage.
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Cross Default and Cross Collateral. The Borrower and the Surety consent and agree that a default on or under the Loan or any other obligation of Borrower or Surety to Bank, present or future, direct or contingent, shall at Bank's option constitute a default on or under all obligations of Borrower and Surety to Bank. Similarly, the collateral (real or personal) that secures any obligation of Borrower or any Surety to Bank shall secure all obligations of Borrower and any Surety to Bank.
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Cross Default and Cross Collateral. This Revolving Credit facility is cross-defaulted and cross-collateralized with each and every obligation of the Borrower due to the Bank or any successor and/or assignee or parent or subsidiary thereof.
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Cross Default and Cross Collateral. All of the rights of Lender contained in this Agreement shall likewise apply, insofar as applicable, to any modification of or supplement to this Agreement and to any other agreements between Lender and Borrower. Any default of this Agreement by Borrower shall constitute, likewise, a default by Borrower of any other existing agreement with Lender, and any default by Borrower of any other agreement with Lender shall constitute a default of this Agreement.
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Cross Default and Cross Collateral. In furtherance of prior provisions hereof, Borrower agrees and acknowledge that the occurrence of an Event of Default under the terms of this Security Instrument shall constitute an Event of Default under the Note, the Loan Agreement, and the other Loan Documents and under the documents evidencing any other loan now existing or hereafter made by Lender to Borrower which is secured by all or any portion of the Premises or other Collateral. The security interests, liens and other rights and interests in and relative to any of the Collateral now or hereafter granted to Lender by Borrower by or in any instrument or agreement, including but not limited to this Security Instrument and the other Loan Documents shall serve as security for any and all liabilities of Borrower to Lender, including but not limited to the liabilities described in this Security Instrument, the Note, the Loan Agreement, and the other Loan Documents and, for the repayment thereof, Lender may resort to any security held by it in such order and manner as it may elect.
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Cross Default and Cross Collateral. An Event of Default hereunder or under any Sub-Loan Agreement or Sub-Loan Documents shall constitute a default under any other loan documents between Borrower or Guarantor and Lender and vice versa, including, without limitation, any other Sub-Loan Agreements or Sub-Loan Documents. At all times hereunder, all Sub-Loan Collateral with respect to any Sub-Loan Agreement or Sub-Loan Documents shall secure and collateralize the Applicable Sub-Loan and each and every Sub-Loan covered by the terms hereof and under any Sub-Loan Agreement. The Sub-Loan Collateral for any Applicable Sub-Loan shall be released upon payment in full of the Applicable Sub-Loan for which it serves as primary security so long as there is no Event of Default under the Applicable Sub-Loan Agreement or any other Sub-Loan Agreement for which there is any amount outstanding and unpaid at the time of the occurrence of such Event of Default. If an Event of Default hereunder or under any Sub-Loan Document exists at the time of such requested release and during the time such Event of Default is continuing, Lender shall not be obligated to release any existing Sub-Loan Collateral. Notwithstanding the foregoing to the contrary, a default under any of the existing or future bonds or other securities or certificates purchased by Lender in connection with any securitization undertaken by a Bluegreen entity or Affiliate now or in the future (collectively, “Securitization Bonds”) will not constitute a Default or Event of Default hereunder or under any Sub-Loan Agreement or other Sub-Loan Documents and a Default or Event of Default under any Sub-Loan Agreement or other Sub-Loan Documents will not constitute a default under any of the Securitization Bonds.
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Related to Cross Default and Cross Collateral

  • Cross Default and Cross Collateralization (a) Cross-Default. As stated under Section 10.1 hereof, an Event of Default under any of the Affiliated Financing Documents shall be an Event of Default under this Agreement. In addition, a Default or Event of Default under any of the Financing Documents shall be a Default under the Affiliated Financing Documents.

  • Cross-Default; Cross-Collateralization (a) Borrower acknowledges that Lender has made the Loan to Borrower upon the security of its collective interest in the Properties and in reliance upon the aggregate of the Properties taken together being of greater value as collateral security than the sum of each Individual Property taken separately. Borrower agrees that each of the Loan Documents (including, without limitation, the Security Instruments) are and will be cross collateralized and cross defaulted with each other so that (i) an Event of Default under any of Loan Documents shall constitute an Event of Default under each of the other Loan Documents; (ii) an Event of Default hereunder shall constitute an Event of Default under each Security Instrument; (iii) each Security Instrument shall constitute security for the Note as if a single blanket lien were placed on all of the Properties as security for the Note; and (iv) such cross collateralization shall in no event be deemed to constitute a fraudulent conveyance and Borrower waives any claims related thereto.

  • Cross-Default If "Cross Default" is specified in the Schedule as applying to the party, the occurrence or existence of (1) a default, event of default or other similar condition or event (however described) in respect of such party, any Credit Support Provider of such party or any applicable Specified Entity of such party under one or more agreements or instruments relating to Specified Indebtedness of any of them (individually or collectively) in an aggregate amount of not less than the applicable Threshold Amount (as specified in the Schedule) which has resulted in such Specified Indebtedness becoming, or becoming capable at such time of being declared, due and payable under such agreements or instruments, before it would otherwise have been due and payable or (2) a default by such party, such Credit Support Provider or such Specified Entity (individually or collectively) in making one or more payments on the due date thereof in an aggregate amount of not less than the applicable Threshold Amount under such agreements or instruments (after giving effect to any applicable notice requirement or grace period);

  • Events of Default and Remedies Section 8.01

  • Cross-Defaults (i) The Borrower, any Guarantor or any of their respective Subsidiaries shall fail to pay any principal of or premium or interest on its Debt which is outstanding in a principal amount of at least $1,000,000 individually or when aggregated with all such Debt of the Borrower, any Guarantor or any of their respective Subsidiaries so in default (but excluding Debt evidenced by the Notes) when the same becomes due and payable (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise), and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to such Debt; (ii) any other event shall occur or condition shall exist under any agreement or instrument relating to Debt which is outstanding in a principal amount of at least $1,000,000 individually or when aggregated with all such Debt of the Borrower, such Subsidiary, or such Guarantor so in default, and shall continue after the applicable grace period, if any, specified in such agreement or instrument, if the effect of such event or condition is to accelerate, or to permit the acceleration of, the maturity of such Debt; or (iii) any such Debt shall be declared to be due and payable, or required to be prepaid (other than by a regularly scheduled required prepayment), prior to the stated maturity thereof; provided that, for purposes of this subsection 7.01(d), the “principal amount” of the obligations in respect of any Hedging Contracts at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that would be required to be paid if such Hedging Contracts were terminated at such time;

  • Indebtedness Cross-Default (i) Any Credit Party or any of its Subsidiaries shall fail to pay any principal of, premium or interest on or any other amount payable in respect of any Indebtedness of such Credit Party or such Subsidiary (as the case may be) that is outstanding in a principal amount of at least $20,000,000 either individually or in the aggregate for all such Credit Parties and Subsidiaries (but excluding Indebtedness outstanding hereunder), when the same becomes due and payable (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise), and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to such Indebtedness; or any other event shall occur or condition shall exist under any agreement or instrument relating to any such Indebtedness and shall continue after the applicable grace period, if any, specified in such agreement or instrument, if the effect of such event or condition is to accelerate, or to permit the acceleration of, the maturity of such Indebtedness or otherwise to cause, or to permit the holder thereof to cause, such Indebtedness to mature; or any such Indebtedness shall be declared to be due and payable or required to be prepaid or redeemed (other than by a regularly scheduled required prepayment or redemption), purchased or defeased, or an offer to prepay, redeem, purchase or defease such Indebtedness shall be required to be made, in each case prior to the stated maturity thereof; or (ii) any Credit Party or any of its Subsidiaries shall breach or default any payment obligation under any Hedging Agreement that is a Bank Product to the extent such breach or default in any payment obligation is not cured within three (3) Business Days after the same shall become due and payable; or

  • Default and Remedies Either of the following constitutes cause to declare this Contract, or any Participating Entity order under this Contract, in default:

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