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

Default in Favor of Third Parties. Any guarantor or Grantor 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 any guarantor's or Grantor's property or ability to perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 11 contracts

Samples: Security Agreement (Better Choice Co Inc.), Pledge and Security Agreement (Black Ridge Oil & Gas, Inc.), Commercial Security Agreement (Air T Inc)

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Default in Favor of Third Parties. Any guarantor or Grantor 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 any guarantor's ’s or Grantor's ’s property or ability to perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 8 contracts

Samples: Security Agreement (Syra Health Corp), Commercial Security Agreement (Vista Proppants & Logistics Inc.), Business Loan Agreement (TX Holdings, Inc.)

Default in Favor of Third Parties. Any guarantor or Grantor Borrower 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 any guarantor's ’s or Grantor's Borrower’s property or ability to perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 5 contracts

Samples: Change in Terms Agreement (Foundation Healthcare, Inc.), Change in Terms Agreement (Foundation Healthcare, Inc.), Change in Terms Agreement (Foundation Healthcare, Inc.)

Default in Favor of Third Parties. Any guarantor or Grantor Borrower 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 any guarantor's ’s or Grantor's Borrower’s property or Borrower’s ability to perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 3 contracts

Samples: Change in Terms Agreement (VCG Holding Corp), Change in Terms Agreement (VCG Holding Corp), Change in Terms Agreement (VCG Holding Corp)

Default in Favor of Third Parties. Any Borrower, any guarantor or Grantor 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, any guarantor's or Grantor's property or ability to perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 3 contracts

Samples: Security Agreement (Eaco Corp), Commercial Security Agreement (ERBA Diagnostics, Inc.), Security Agreement (Eaco Corp)

Default in Favor of Third Parties. Any guarantor or Grantor 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 any guarantor's ’s or Grantor's property or ability to perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 3 contracts

Samples: Commercial Security Agreement (American Consumers Inc), Commercial Security Agreement (American Consumers Inc), Commercial Security Agreement (American Consumers Inc)

Default in Favor of Third Parties. Any guarantor or Grantor Borrower 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 any guarantor's Borrower’s or Grantor's ’s property or Borrower’s or 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 (VCG Holding Corp), Business Loan Agreement (VCG Holding Corp)

Default in Favor of Third Parties. Any guarantor or Grantor Borrower 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 any guarantor's or GrantorBorrower's property or ability to perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 2 contracts

Samples: Change in Terms Agreement (Eaco Corp), Change in Terms Agreement (Rubios Restaurants Inc)

Default in Favor of Third Parties. Any guarantor or Grantor 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 any guarantor's or Grantor's property or ability to perform their respective obligations under this Agreement Assignment or any of the Related Documents.

Appears in 1 contract

Samples: Eaco Corp

Default in Favor of Third Parties. Any guarantor or Grantor of Borrower 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 any guarantor's ’s or Grantor's Borrower’s property or ability to perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Change in Terms Agreement (Innsuites Hospitality Trust)

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Default in Favor of Third Parties. Any Grantor or any guarantor or Grantor 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 Grantor's property subject to the aforesaid Collateral Mortgage or Grantor's or any guarantor's or Grantor's property or ability to perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Shadows Bend Development Inc

Default in Favor of Third Parties. Any Borrower, any guarantor or Grantor 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, any guarantor's ’s or Grantor's ’s property or ability to perform their respective obligations under this Agreement or any of the Related Documents.

Appears in 1 contract

Samples: Commercial Pledge Agreement (Western Capital Resources, Inc.)

Default in Favor of Third Parties. Any Borrower, any guarantor or Grantor 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, any guarantor's or Grantor's property or ability to perform their respective obligations under this Agreement or any of the Related Loan Documents.

Appears in 1 contract

Samples: Aircraft Security Agreement (Air T Inc)

Default in Favor of Third Parties. Any guarantor or Grantor Granter 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 any guarantor's ’s or Grantor's ’s property or ability to perform their respective obligations under this Agreement Assignment or any of the Related Documents.

Appears in 1 contract

Samples: Business Loan Agreement (Clearday, Inc.)

Default in Favor of Third Parties. Any Borrower, any guarantor or Grantor 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, any guarantor's ’s or Grantor's ’s property or ability to perform their respective obligations under this Agreement or any of the Related Loan Documents.

Appears in 1 contract

Samples: Trustee Aircraft Security Agreement (Air T Inc)

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