Common use of Default by Borrower Clause in Contracts

Default by Borrower. If Borrower becomes insolvent or bankrupt, this Agreement shall remain in full force and effect. Any default by Borrower under the terms of the Subordinated Indebtedness also shall constitute an event of default under the terms of the Superior Indebtedness in favor of Lender.

Default by Borrower. If Borrower becomes insolvent or bankrupt, this Agreement shall remain in full force and effect. In the event of a corporate reorganization or corporate arrangement of Borrower under the provisions of the Bankruptcy Code, as amended, this Agreement shall remain in full force and effect and the court having jurisdiction over the reorganization or arrangement is hereby authorized to preserve such priority and subordination in approving any such plan of reorganization or arrangement. Any default by Borrower under the terms of the Subordinated Indebtedness also shall constitute an event of be a default under the terms of the Superior Indebtedness in favor of to Lender.

Default by Borrower. If Borrower becomes insolvent or bankrupt, this Agreement shall remain in full force and effect. Any default by Borrower under the terms of the Subordinated Indebtedness lndebtedness also shall constitute an event of default under the terms of the Superior Indebtedness lndebtedness in favor of Lender.

Default by Borrower. If Borrower Xxxxxxxx becomes insolvent or bankrupt, this Agreement shall remain in full force and effect. Any default by Borrower under the terms of the Subordinated Indebtedness also shall constitute an en event of default under the terms of the Superior Indebtedness in favor of Lender.Xxxxxx,

Default by Borrower. If Borrower Xxxxxxxx becomes insolvent or bankrupt, this Agreement shall remain in full force and effect. effect Any default by Borrower under the terms of the Subordinated Indebtedness also shall constitute an event of default under the terms of the Superior Indebtedness in favor of LenderXxxxxx.