DEFAULT IN OBLIGATIONS TO THIRD PARTIES Sample Clauses

DEFAULT IN OBLIGATIONS TO THIRD PARTIES. 45 8.15 LICENSES.............................................. 46
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DEFAULT IN OBLIGATIONS TO THIRD PARTIES. Any Obligor is in default beyond any applicable grace or cure period of any material obligation to any third party unless (i) a bona fide dispute exists as to such Obligor's compliance with such obligation, (ii) such bona fide dispute is being diligently resolved and (iii) any monetary amounts potentially
Sample 1
DEFAULT IN OBLIGATIONS TO THIRD PARTIES. Any Obligor is in default beyond any applicable grace or cure period of any obligation for in excess of $10,000 (in the aggregate), unless such Obligor is contesting such default in good faith and shall have set aside on its books adequate reserves to satisfy any claims arising therefrom.
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DEFAULT IN OBLIGATIONS TO THIRD PARTIES. Any Borrower is in default (unless subsequently waived) beyond any applicable grace or cure period (i) of any material obligation to any third party or (ii) under any Indebtedness in an unpaid amount in excess of $250,000 if the effect is to accelerate or permit the acceleration of the payment thereof or if such amount is not paid upon the maturity thereof. If a default under Indebtedness in an unpaid amount in excess of $250,000 would permit the acceleration thereof (but such acceleration has not occurred) and the Borrowers are vigorously disputing such default and have set aside reserves for such dispute in an amount satisfactory to the Required Banks, such default shall not be an Event of Default hereunder so long as such dispute continues to be vigorously pursued, such reserves are maintained and no acceleration of such Indebtedness occurs.
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DEFAULT IN OBLIGATIONS TO THIRD PARTIES. The Borrower is in default beyond any applicable grace or cure period of any Indebtedness or any other material obligation to any third party in excess of $500,000 in the aggregate.
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Related to DEFAULT IN OBLIGATIONS TO THIRD PARTIES

  • Obligations to Third Parties Each party warrants and represents that this Agreement does not conflict with any contractual obligations, expressed or implied, undertaken with any Third Party.

  • 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.

  • Acceleration of the Obligations Upon or at any time after the occurrence and during the continuance of an Event of Default, (i) the Revolving Loan Commitments shall, at the option of Agent or Majority Lenders be terminated and/or (ii) Agent or Majority Lenders may declare all or any portion of the Obligations at once due and payable without presentment, demand protest or further notice by Agent or any Lender, and Borrowers shall forthwith pay to Agent, the full amount of such Obligations, provided, that upon the occurrence of an Event of Default specified in subsection 10.1.8 hereof, the Revolving Loan Commitments shall automatically be terminated and all of the Obligations shall become automatically due and payable, in each case without declaration, notice or demand by Agent or any Lender.

  • Certain Obligations Whenever this Agreement requires any of the Subsidiaries of any Party to take any action, this Agreement will be deemed to include an undertaking on the part of such Party to cause such Subsidiary to take such action.

  • Conditions to the Obligations of the Parties The obligations of the Parties to consummate the transactions contemplated by this Agreement are subject to the satisfaction or, if permitted by applicable Law, waiver by the Party for whose benefit such condition exists of the following conditions:

  • Conditions to Xxxxx’x Obligations The obligations of Xxxxx hereunder with respect to a Placement will be subject to the continuing accuracy and completeness of the representations and warranties made by the Company herein, to the due performance by the Company of its obligations hereunder, to the completion by Xxxxx of a due diligence review satisfactory to Xxxxx in its reasonable judgment, and to the continuing satisfaction (or waiver by Xxxxx in its sole discretion) of the following additional conditions:

  • No Obligations to Third Parties Except as otherwise expressly provided herein, the execution and delivery of this Agreement shall not be deemed to confer any rights upon, nor obligate any of the parties hereto, to any person or entity other than the parties hereto.

  • CONDITIONS TO THE OBLIGATIONS OF EACH PARTY. The obligations of the Company, Parent and Merger Sub to consummate the Merger are subject to the satisfaction of the following conditions:

  • Grantor’s Obligations Upon Default Upon the request of the Administrative Agent after the occurrence and during the continuance of an Event of Default, each Grantor will:

  • Condition to the Obligations of the Parties The obligations of all of the parties to consummate the Closing are subject to the satisfaction of all the following conditions:

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