Common use of Default in Favor of Third Parties Clause in Contracts

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 171 contracts

Samples: Loan Agreement (R B Rubber Products Inc), Loan Agreement (Industrial Services of America Inc /Fl), Business Loan Agreement (Litronic Inc)

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Default in Favor of Third Parties. Should Borrower or any Grantor default defaults under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's or any Grantor's ability to repay the Loans this Note or perform their respective Borrower's obligations under this Agreement Note or any of the Related Documentsrelated documents.

Appears in 60 contracts

Samples: Business Loan Agreement (Elevate.Money REIT I, Inc.), Business Loan Agreement (Landmark Bancorp Inc), Business Loan Agreement (Sielox Inc)

Default in Favor of Third Parties. Should Borrower Grantor or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of BorrowerGrantor's property or BorrowerGrantor's or any Grantor's ability to repay the Loans Indebtedness or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 10 contracts

Samples: Commercial Security Agreement (Versant Corp), Assignment of Deposit Account (American Consumers Inc), Assignment of Deposit Account (American Consumers Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's or any Grantor's ability to repay the Loans Indebtedness or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 6 contracts

Samples: Commercial Security Agreement (Daily Journal Corp), Commercial Security Agreement (Daily Journal Corp), Business Loan Agreement (Advanced Life Sciences Holdings, Inc.)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor credit or person that may materially affect any of Borrower's property or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 2 contracts

Samples: Disbursement Request and Authorization (California Beach Restaurants Inc), Business Loan Agreement (Key Technology Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 2 contracts

Samples: Commercial Security Agreement (New West Eyeworks Inc), Commercial Security Agreement (New West Eyeworks Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, agreement in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 2 contracts

Samples: Loan Agreement (Labor Ready Inc), Commercial Pledge and Security Agreement (Williams Francis M)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Grantor's financial condition, operations or assets or Borrower's or any Grantor's ability to repay the Loans Indebtedness or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 2 contracts

Samples: Business Loan Agreement (Niku Corp), Business Loan Agreement (Niku Corp)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of BorrowerGrantor's property or BorrowerGrantor's or any Grantor's ability to repay the Loans indebtedness or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 2 contracts

Samples: Commercial Security Agreement (Eacceleration Corp), Commercial Security Agreement (Stronghold Technologies Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor default defaults under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's or any Grantor's property or Borrower's or any Grantor's ability to repay the Loans Loan or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 2 contracts

Samples: Business Loan Agreement (Community First Bancorp Inc), Business Loan Agreement (Elecsys Corp)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's Borrowers' or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 2 contracts

Samples: Business Loan Agreement (Litronic Inc), Business Loan Agreement (Litronic Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrowerborrower's property or Borrower's or Borrxxxx'x xr any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Business Loan Agreement (Hycor Biomedical Inc /De/)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's Borrower property or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Revolving Credit Agreement (Leap Group Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales sates agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Business Loan Agreement (Stearns & Lehman Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor default defaults under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's or any Grantor's property or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related DocumentsDocument.

Appears in 1 contract

Samples: Business Loan Agreement (I/Omagic Corp)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's or any Grantor's ability to repay the Loans Loan or perform their perforx xxxxx respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Negative Pledge Agreement (Dawson Production Services Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor Borrower default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's Borrowers or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Business Loan Agreement (Pods Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, agreement purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Business Loan Agreement (Usa Net Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.. AMENDED AND RESTATED BUSINESS LOAN AGREEMENT (Continued)

Appears in 1 contract

Samples: Business Loan Agreement (Laserscope)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Business Loan Agreement (Transcrypt International Inc)

Default in Favor of Third Parties. Should Borrower Grantor or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's Grantor`s property or Borrower's Grantor`s or any Grantor's Grantor`s ability to repay the Loans Indebtedness or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Commercial Security Agreement (Trimedia Entertainment Group Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor default defaults under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's Borrower`s or any Grantor`s property or Borrower's Borrower`s or any Grantor's Grantor`s ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Business Loan Agreement (Trimedia Entertainment Group Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's the Real Property or any Grantor's ’s ability to repay the Loans or perform their respective obligations under this Agreement Mortgage or any of the Related Documents. Failure of Grantor to make any payment when due relating to the Real Property, or any other act of default under this Mortgage, the Note, the Loan Agreement, or other Related Documents.

Appears in 1 contract

Samples: Mortgage

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Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, loan extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Commercial Security Agreement (Pods Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor Guarantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any an of Borrower's property or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Business Loan Agreement (U S Laboratories Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property Borrower's- property, or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Commercial Security Agreement (Astropower Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's the Real Property or any Grantor's ’s ability to repay the Loans or perform their respective obligations under this Agreement Mortgage or any of the Related Documents. Failure of Grantor to make any payment when due relating to the Real Property, or any other act of default under this Mortgage, the Note, the Business Incentive Agreement, or other Related Documents.

Appears in 1 contract

Samples: Mortgage

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect effect any of Borrower's property or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Business Loan Agreement (Back Yard Burgers Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's or any Grantor's Borrowers ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Loan Agreement (Teraforce Technology Corp)

Default in Favor of Third Parties. Should Borrower or any Grantor grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Business Loan Agreement (Dental Care Alliance Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement Deed of Trust or any of the Related Documents.

Appears in 1 contract

Samples: Deed of Trust (Newstar Media Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor default defaults under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of BorrowerBorrower or any Grantor's property or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Business Loan Agreement (Husker Ag Processing LLC)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or of person that may materially affect any of Borrower's property or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Business Loan Agreement (Direct Focus Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.other

Appears in 1 contract

Samples: Commercial Security Agreement (American Stone Industries Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, . in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Business Loan Agreement (Rexall Sundown Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor default defaults under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's or any Grantor's ability to repay the Loans this Note or perform their respective Borrower's obligations under this Agreement note or any of the Related Documentsrelated documents.

Appears in 1 contract

Samples: Promissory Note (Tower Tech Holdings Inc.)

Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or of sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's or of Borrxxxx'x xr any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Business Loan Agreement (T&w Financial Corp)

Default in Favor of Third Parties. Should Borrower or any Grantor default defaults under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's or any Grantor's property or of Borrower's or any Grantor's ability to repay the Loans or perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Business Loan Agreement (International Remote Imaging Systems Inc /De/)

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