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 Grantor's property or Grantor's or any Grantor's ability to repay the Indebtedness or perform their respective obligations under this Agreement or any of the Related Documents. FALSE STATEMENTS. Any warranty, representation or statement made or furnished to Lender by Grantor or on Grantor's behalf under this Agreement 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. DEFECTIVE COLLATERALIZATION. This Agreement or any of the Related Documents ceases to be in full force and effect (including failure of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason.

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 GrantorBorrower's property or GrantorBorrower's or any Grantor's ability to repay the Indebtedness Loans or perform their respective obligations under this Agreement or any of the Related Documents. FALSE STATEMENTS. Any warranty, representation or statement made or furnished to Lender by Grantor or on Grantor's behalf of Borrower or any Grantor under this Agreement or the 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. DEFECTIVE COLLATERALIZATION. This Agreement or any of the Related Documents ceases to be in full force and effect (including failure of any collateral document Security Agreement to create a valid and perfected security interest or lienSecurity Interest) at any time and for any reason.

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 Grantor's property or Grantor's or any Grantor's ability to repay the Indebtedness or perform their respective obligations under this Agreement or any of the Related Documents. FALSE STATEMENTS. Any warranty, representation or statement made or furnished to Lender by Grantor or on Grantor's behalf under this Agreement 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. DEFECTIVE COLLATERALIZATION. This Agreement or any of the Related Documents ceases to be in full force and effect (including failure of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason.

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 GrantorBorrower's property or GrantorBorrower's or any Grantor's ability to repay the Indebtedness Loans or perform their respective obligations under this Agreement or any of the Related Documents. FALSE STATEMENTS. Any warranty, representation or statement made or furnished to Lender by Grantor or on Grantor's behalf of Borrower or any Grantor under this Agreement or the 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. DEFECTIVE DETECTIVE COLLATERALIZATION. This Agreement or any of the Related Documents ceases to be in full force and effect (including failure of any collateral document Security Agreement to create a valid and perfected security interest or lienSecurity Interest) at any time and for any reason. INSOLVENCY The dissolution or termination of Borrower's existence as a going business.

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 GrantorBorrower's property or GrantorBorrower's or any Grantor's ability to repay the Indebtedness Loans or perform their respective obligations under this Agreement or any of the Related Documents. FALSE STATEMENTS. Any warranty, representation or statement made or furnished to Lender by Grantor or on Grantor's behalf of Borrower or any Grantor under this Agreement or the 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. DEFECTIVE COLLATERALIZATION. This Agreement or any of the Related Documents ceases to be in full force and effect (including failure of any collateral document Security Agreement to create a valid and perfected security interest or lienSecurity interest) at any time and for any reason.

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 GrantorBorrower's property or GrantorBorrower's or any Grantor's ability to repay the Indebtedness Loans or perform their respective obligations under this Agreement or any of the Related Documents. Documents FALSE STATEMENTS. Any warranty, representation or statement made or furnished to Lender by Grantor or on Grantor's behalf of Borrower or any Grantor under this Agreement or the 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. DEFECTIVE COLLATERALIZATION. This Agreement or any of the Related Documents ceases to be in full force and effect (including failure of any collateral document Security Agreement to create a valid and perfected security interest or lienSecurity Interest) at any time and for any reason.

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 GrantorBorrower's property or GrantorBorrower's or any Grantor's ability to repay the Indebtedness Loans or perform their respective obligations under this Agreement or any of the Related Documents. , FALSE STATEMENTS. Any warranty, representation or statement made or furnished to Lender by Grantor or on Grantor's behalf of Grantor under this Agreement Agreement, the 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 thereafterfurnished. DEFECTIVE COLLATERALIZATION. This Agreement or any of the Related Documents ceases to be in full force and effect (including failure of any collateral document documents to create a valid and perfected security interest or lien) at any time and for any reason.