Common use of Default by Others Clause in Contracts

Default by Others. Any material default by any Account Debtor or other Person obligated to Borrower, any other Obligor, or any Subsidiary, under any contract, chattel paper, note or other evidence of amounts payable or due or to become due to Borrower, such Obligor or Subsidiary if the amount payable under such contract, chattel paper, note or other evidence of amounts payable or due or to become due is material;

Appears in 1 contract

Samples: Loan and Security Agreement (Rainbow Rentals Inc)

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Default by Others. Any material default by any Account Debtor or other Person obligated to any Borrower, any other Obligor, or any Subsidiary, under any contract, chattel paper, note or other evidence of amounts payable or due or to become due to any Borrower, such Obligor or Subsidiary if the amount payable under such contract, chattel paper, note or other evidence of amounts payable or due or to become due is material;.

Appears in 1 contract

Samples: Credit and Security Agreement (Simon Transportation Services Inc)

Default by Others. Any material default by any Account Debtor or other Person obligated to Borrower, any other Obligor, or any Subsidiary, Subsidiary under any contract, chattel paper, note or other evidence of amounts payable or due or to become due to Borrower, such Obligor or such Subsidiary if the amount payable under such contract, chattel paper, note or other evidence of amounts payable or due or to become due is material;

Appears in 1 contract

Samples: Loan and Security Agreement (Elxsi Corp /De//)

Default by Others. Any material default by any Account Debtor or other Person obligated to Borrower, any other Obligor, or any Designated Subsidiary, under any contract, chattel paper, note or other evidence of amounts payable or due or to become due to Borrower, such Obligor or Designated Subsidiary if the amount payable under such contract, chattel paper, note or other evidence of amounts payable or due or to become due is materialreasonably likely to have a Material Adverse Effect;

Appears in 1 contract

Samples: Loan and Security Agreement (Pioneer East Inc)

Default by Others. Any material default by any Account Debtor or other Person obligated to Borrower, any other Obligor, or any Subsidiary, Subsidiary under any contract, chattel paper, note or other evidence of amounts payable or due or to become due to Borrower, such Obligor or such Subsidiary if the amount payable under such contract, chattel paper, note or other evidence of amounts payable or due or of to become due is material;

Appears in 1 contract

Samples: Loan and Security Agreement (Elxsi Corp /De//)

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Default by Others. Any material default by any Account Debtor or other Person obligated to either Borrower, any other Obligor, or any Designated Subsidiary, under any contract, chattel paper, note or other evidence of amounts payable or due or to become due to either Borrower, such Obligor or Designated Subsidiary if the amount payable under such contract, chattel paper, note or other evidence of amounts payable or due or to become due is materialreasonably likely to have a Material Adverse Effect;

Appears in 1 contract

Samples: Loan and Security Agreement (Pioneer Companies Inc)

Default by Others. Any material default by any Account Debtor or other Person obligated to Borrower, any other Obligor, the Borrower or any Subsidiary, under any contract, chattel paper, note or other evidence of amounts payable or due or to become due to Borrower, the Borrower or such Obligor or Subsidiary if the amount payable under such contract, chattel paper, note or other evidence of amounts payable or due or to become due is material;.

Appears in 1 contract

Samples: Loan and Security Agreement (Pemstar Inc)

Default by Others. Any material default by any Account Debtor or other Person obligated to any Borrower, any other Obligor, or any Subsidiary, Subsidiary under any contract, chattel paper, note or other evidence of amounts payable or due or to become due to such Borrower, such Obligor or such Subsidiary if the amount payable under such contract, chattel paper, note or other evidence of amounts payable or due or of to become due is material;

Appears in 1 contract

Samples: Loan and Security Agreement (Elxsi Corp /De//)

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