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

Default in Favor of Third Parties. Borrower or any 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 property or Borrower’s ability to repay this Note or perform Borrower’s obligations under this Note or any of the related documents. False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or on Borrower’s behalf under this Note or the related documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter.

Appears in 17 contracts

Samples: Loan Agreement (Torotel Inc), Business Loan Agreement (Loyalty Alliance Enterprise Corp), Business Loan Agreement (Loyalty Alliance Enterprise Corp)

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Default in Favor of Third Parties. Borrower or any 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 's property or Borrower’s 's ability to repay this Note or perform Borrower’s 's obligations under this Note or any of the related documents. False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or on Borrower’s 's behalf under this Note or the related documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter.

Appears in 11 contracts

Samples: Business Loan Agreement, Business Loan Agreement (Wilhelmina International, Inc.), Business Loan Agreement (Wilhelmina International, Inc.)

Default in Favor of Third Parties. Borrower or any 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 adversely affect any of Borrower’s property 's financial condition, operations or assets or Borrower’s 's ability to repay this Note or perform Borrower’s 's obligations under this Note or any of the related documents. False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or on Borrower’s 's behalf under this Note or the related documents is false or misleading in any material respect, either now or or, in the case of representations made at the time of any Advance after the date hereof, at the time made or furnished or becomes false or misleading at any time thereafterfurnished.

Appears in 2 contracts

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

Default in Favor of Third Parties. Borrower or any Grantor defaults 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 ability to repay this Note or perform Borrower’s obligations under this Note or any of the related documents. False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or on Borrower’s behalf under this Note or the related documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter.

Appears in 2 contracts

Samples: Loan Agreement (Labwire Inc), Loan Agreement (Labwire Inc)

Default in Favor of Third Parties. Should Borrower or any Grantor defaults 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 's property Borrower's or Borrower’s any Grantor's ability to repay this Note the Loans or perform Borrower’s their respective obligations under this Note Agreement or any of the related documentsDocuments. False Statements. Any warranty, representation or statement made or furnished to Lender by or on behalf of Borrower or on Borrower’s behalf any Grantor under this Note the Agreement or the related documents Related Documents is false or misleading in any material respect, either now or respect at the time made or furnished furnished, or becomes false or misleading at any time thereafter.

Appears in 2 contracts

Samples: Loan Agreement (Bab Holdings Inc), Loan Agreement (Bab Holdings Inc)

Default in Favor of Third Parties. Borrower or any Grantor defaults under any loan, extension of credit, security agreement, . purchase or sales safes 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 ability to repay this Note or perform Borrower’s obligations under this Note or any of the related documents. False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or on Borrower’s behalf under this Note or the related documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter.

Appears in 1 contract

Samples: Business Loan Agreement (Prospect Acquisition Corp)

Default in Favor of Third Parties. Borrower or any 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 property or Borrower’s ability to repay this Note or perform Borrower’s obligations under this Note or any of the related documents. False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or on Borrower’s behalf under this Note or the related documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter.

Appears in 1 contract

Samples: Pc Universe Inc

Default in Favor of Third Parties. Borrower or any 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 Borrowers property or Borrower’s ability to repay this Note or perform Borrower’s obligations under this Note or any of the related documents. False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or on Borrower’s behalf under this Note or the related documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter.

Appears in 1 contract

Samples: Business Loan Agreement (Niku Corp)

Default in Favor of Third Parties. Borrower or any 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 BorrowerBorrowers or any Grantor’s property or BorrowerBorrowers or any Grantor’s ability to repay this Note the Loans or perform Borrower’s their respective obligations under this Note Agreement or any of the related documentsRelated Documents. False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or on Borrower’s Borrowers behalf under this Note Agreement or the related documents Related Documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter.

Appears in 1 contract

Samples: Business Loan Agreement (Rancon Realty Fund V)

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Default in Favor of Third Parties. Borrower or any 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 Borrower’s property or Borrower’s ability to repay this Note or perform Borrower’s obligations under this Note or any of the related documents. False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or on Borrower’s behalf under this Note or the related documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter.

Appears in 1 contract

Samples: Business Loan Agreement (Torotel Inc)

Default in Favor of Third Parties. Borrower or any 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 property or Borrower’s ability to repay this Note or perform Borrower’s obligations under this Note or any of the related documents. False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or on Borrower’s behalf under this Note or the related documents is false or misleading in any material respect, either now new or at the time made or furnished or becomes false or misleading at any time thereafter.

Appears in 1 contract

Samples: Business Loan Agreement and Security Agreements (Macc Private Equities Inc)

Default in Favor of Third Parties. Borrower or any 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 's property or Borrower’s 's ability to repay this Note or perform Borrower’s 's obligations under this Note or any of the related documents. False Statementsstatements. Any warranty, representation or statement made or furnished to Lender by Borrower or on Borrower’s 's behalf under this Note or the related documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter.

Appears in 1 contract

Samples: Loan Agreement (Petmed Express Inc)

Default in Favor of Third Parties. Borrower or any Grantor defaults 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 ability to repay this Note note or perform Borrower’s obligations under this Note or any of the related documents. False Statementsstatements. Any warranty, representation or statement made or furnished to Lender by Borrower or on Borrower’s behalf under this Note or the related documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter.

Appears in 1 contract

Samples: Business Loan Agreement (First Light Bancorp)

Default in Favor of Third Parties. Borrower or any 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 yr person that may materially affect any of Borrower’s property or Borrower’s ability to repay this Note or perform Borrower’s obligations under this Note or any of the related documents. False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or on Borrower’s behalf under this Note or the related documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter.

Appears in 1 contract

Samples: Business Loan Agreement (Arena Resources Inc)

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