Common use of Default in Performance Clause in Contracts

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Section 8.1. (solely with respect to the existence of the Borrower), Section 9.4.(j) or Article X. (excluding Section 10.8.); or (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, and in the case of this subsection (b)(ii) only, such failure shall continue for a period of 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent.

Appears in 6 contracts

Samples: Term Loan Agreement (Realty Income Corp), Credit Agreement (Realty Income Corp), Credit Agreement (Realty Income Corp)

AutoNDA by SimpleDocs

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Section 8.1. 8.1 (solely with respect to the existence of the Borrower), Section 9.4.(j9.4(j) or Article X. X (excluding Section 10.8.); or (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, and in the case of this subsection (b)(ii) only, such failure shall continue for a period of 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent.

Appears in 4 contracts

Samples: Term Loan Agreement (Spirit Realty Capital, Inc.), Term Loan Agreement (Spirit Realty Capital, Inc.), Term Loan Agreement (Realty Income Corp)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Article IX or Article X (other than Section 8.1. (solely with respect to the existence of the Borrower)10.5, Section 9.4.(j) 10.9, Section 10.10 or Article X. (excluding Section 10.8.10.12); or (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document (including in Section 10.5, Section 10.9, Section 10.10 or 10.12) to which it is a party and not otherwise mentioned in this Section, and in the case of this subsection (b)(ii) only, such failure shall continue for a period of 30 thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent.

Appears in 3 contracts

Samples: Term Loan Agreement (Spirit Realty Capital, Inc.), Term Loan Agreement (Spirit Realty Capital, Inc.), Revolving Credit and Term Loan Agreement (Spirit Realty, L.P.)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Article IX or Article X (other than Section 8.1. (solely with respect to the existence of the Borrower)10.5, Section 9.4.(j) 10.9 or Article X. (excluding Section 10.8.10.10); or (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document (including in Section 10.5, Section 10.9 or Section 10.10) to which it is a party and not otherwise mentioned in this Section, and in the case of this subsection (b)(ii) only, such failure shall continue for a period of 30 thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent.

Appears in 2 contracts

Samples: Loan Agreement (Spirit Realty Capital, Inc.), Term Loan Agreement (Spirit Realty Capital, Inc.)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Section 8.1. 8.1 (solely with respect to the existence of the Borrower), Section 9.4.(j) 9.4(i), or Article X. X (excluding Section 10.8.); or (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, and in the case of this subsection (b)(ii) only, such failure shall continue for a period of 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or and (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent.

Appears in 2 contracts

Samples: Credit Agreement (STORE CAPITAL Corp), Term Loan Agreement (STORE CAPITAL Corp)

Default in Performance. (i) Any Loan Party Borrower shall fail (or, where applicable, shall fail to cause any Subsidiary) to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Section 8.1. (solely with respect to the existence of the BorrowerSECTIONS 7.11, 7.12, or 8.4(i), Section 9.4.(j) or Article X. (excluding Section 10.8.); or in SECTION 9 or (ii) Any Loan Party Borrower shall fail (or, where applicable, shall fail to cause any Subsidiary) to perform or observe any term, covenant, condition condition, or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, Section and in the case of this subsection CLAUSE (b)(iiii) only, such failure shall continue for a period of 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent.

Appears in 2 contracts

Samples: Credit Agreement (Allied Capital Corp), Credit Agreement (Allied Capital Corp)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Section 8.1. (solely with respect to the existence of the Borrower), Section 9.4.(j) 9.4.(i), or Article X. (excluding Section 10.8.); or (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, and in the case of this subsection (b)(ii) only, such failure shall continue for a period of 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or and (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent.

Appears in 2 contracts

Samples: Credit Agreement (STORE CAPITAL Corp), Credit Agreement (STORE CAPITAL Corp)

Default in Performance. (i) Any Borrower or any other Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Section 8.17.1. (solely with respect as to the preservation and maintenance of existence of the Borroweronly), Section 9.4.(j8.4.(i) or Article X. (excluding Section 10.8IX.); or (ii) Any Borrower or any other Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, and in the case of this subsection (b)(ii) only, such failure shall continue for a period of 30 days after the earlier of (x) the date upon which a Responsible Officer of the any Borrower or such any other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower Representative has received written notice of such failure from the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Sl Green Operating Partnership, L.P.)

AutoNDA by SimpleDocs

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Article IX or Article X (other than Section 8.1. (solely with respect to the existence of the Borrower)10.5, Section 9.4.(j) 10.9 or Article X. (excluding Section 10.8.10.10); or (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document (including, without limitation, in Section 10.5, Section 10.9 or Section 10.10) to which it is a party and not otherwise mentioned in this Section, and in the case of this subsection (b)(ii) only, such failure shall continue for a period of 30 thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Spirit Realty Capital, Inc.)

Default in Performance. (i) Any Loan Party Borrower shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Section 8.1. (solely with respect to the existence any of the BorrowerArticle VI, Article VIII or Sections 5.01(d)(vii), Section 9.4.(j) 5.01(d)(viii), 5.01(d)(xiii), 5.14, 5.15, or Article X. (excluding Section 10.8.); or 5.18 or (ii) Any Borrower, any Subsidiary or any other Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, Section and in the case of this subsection clause (b)(iiii) only, only such failure shall continue for a period of 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative AgentAgent and the Lenders.

Appears in 1 contract

Samples: Credit and Security Agreement (Five Star Quality Care Inc)

Default in Performance. (i) Any Loan Party The Borrower or the Parent shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Section 8.1. (solely with respect to the existence second proviso of the Borrowersecond sentence of Section 2.4(b), Section 9.4.(j7.8, Section 8.1, Section 8.2, Section 8.3, Section 8.4(i) or in Article X. (excluding Section 10.8.); or IX or (ii) Any the Borrower, the Parent or any other Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, Section and in the case of this subsection clause (b)(iiii) only, only such failure shall continue for a period of 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent.

Appears in 1 contract

Samples: Revolving Credit Agreement (Piedmont Office Realty Trust, Inc.)

Default in Performance. (i) Any Loan Party The Borrower or the Parent shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Section 8.1. (solely with respect to the existence second proviso of the Borrowersecond sentence of Section 2.4.(b), Section 9.4.(j8.1., Section 8.2., Section 8.3., Section 8.4.(i) or in Article X. (excluding Section 10.8.); or IX. or (ii) Any the Borrower, the Parent or any other Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, Section and in the case of this subsection clause (b)(iiii) only, only such failure shall continue for a period of 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Piedmont Office Realty Trust, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!