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

Default in Favor of Third Parties. 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 or ability to perform Grantor’s obligations under this Agreement or any of the Related Documents.

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

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

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 or any Grantor’s 's property or Borrower's or any Grantor's ability to repay the Loan or perform Grantor’s their respective obligations under this Agreement or any of the Related Documents.

Default in Favor of Third Parties. 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 's property or ability to perform COMMERCIAL PLEDGE AND SECURITY AGREEMENT Grantor’s 's obligations under this Agreement or any of the Related Documents.

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 or any Grantor’s property or Borrower’s or any Grantor’s ability to repay the Loans or perform Grantor’s their respective obligations under this Agreement or any of the Related Documents.

Default in Favor of Third Parties. Grantor defaults under any loan, extension of credit, security agreement, purchase or sales agreement, or <PAGE> COMMERCIAL SECURITY AGREEMENT (Continued) any other agreement, in favor of any other creditor or person that may materially affect any of Grantor’s 's property or ability to perform Grantor’s obligations under this Agreement or any of the Related Documents.

Default in Favor of Third Parties. Should Grantor defaults 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 Grantor’s property of Grantor’s or any Grantor’s ability to repay the Indebtedness or perform Grantor’s their respective obligations under this Agreement or any of the Related Documents.

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

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 or any Grantor’s 's property or Borrower's or any Grantor's ability to repay the loans or perform Grantor’s their respective obligations under this Agreement or any of the Related Documents.

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

Default in Favor of Third Parties. Borrower or any Grantor defaults defaults, which default has not been waived or cured, 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 's property or Borrower's or any Grantor's ability to repay the Loans or perform Grantor’s their respective obligations under this Agreement or any of the Related Documents.

Default in Favor of Third Parties. Borrower or any Grantor defaults under any loan, extension of credit, security agreement, purchase or sales agreement, 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 Grantor’s their respective obligations under this Agreement or any of the Related Documents.

Default in Favor of Third Parties. In the event that Grantor defaults under any loan, extension of credit, security agreement, purchase or sales and sale agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Grantor’s property assets or Grantor’s ability to repay the Note or perform Grantor’s its respective obligations under this Agreement or any of the Related Documents.Security Agreement;