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 or agreement on its part to be performed or observed and contained in Section 7.1.(i) (solely with respect to the existence of the Borrower) or Article IX. (other than Section 9.7. or Section 9.9.); or (ii) Any Loan Party shall fail to perform or observe any term, covenant 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 calendar 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 7 contracts

Samples: Credit Agreement (Elme Communities), Credit Agreement (Elme Communities), Credit Agreement (Washington Real Estate Investment Trust)

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Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant covenant, condition or agreement on its part to be performed or observed and contained in Section 7.1.(i) (solely with respect to the existence 7.8., Section 8.4.(i), Section 9.1., any of the Borrower) or Article IX. (other than Sections 9.4 through Section 9.79.9. or Section 9.9.)9.12; or or (ii) Any Loan Party shall fail to perform or observe any term, covenant 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 calendar days after the earlier of (x) the date upon which a Responsible Officer of the Parent, the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Parent or the Borrower has received written notice of such failure from the Administrative Agent.

Appears in 3 contracts

Samples: Credit Agreement (Equity Lifestyle Properties Inc), Credit Agreement (Equity Lifestyle Properties Inc), Credit Agreement (Equity Lifestyle Properties Inc)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant covenant, condition or agreement on its part to be performed or observed and contained in Section 7.1.(i) (solely with respect to the existence 7.8., Section 8.4.(i), Section 9.1., any of the Borrower) or Article IX. (other than Sections 9.4 through Section 9.79.9. or Section 9.9.)9.12; or (ii) Any Loan Party shall fail to perform or observe any term, covenant 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 calendar days after the earlier of (x) the date upon which a Responsible Officer of the Parent, the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Parent or the Borrower has received written notice of such failure from the Administrative Agent.

Appears in 3 contracts

Samples: Credit Agreement (Equity Lifestyle Properties Inc), Term Loan Agreement (Equity Lifestyle Properties Inc), Credit Agreement (Equity Lifestyle Properties Inc)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant covenant, condition or agreement on its part to be performed or observed and contained in Section 7.1.(i) 8.1. (solely with respect to the existence of the Borrower) or ), Section 8.13., Article IX. (other than Section 9.7. or Section 9.9.)Article X.; or (ii) Any Loan Party shall fail to perform or observe any term, covenant 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 calendar days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains actual 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: Term Loan Agreement (Broadstone Net Lease Inc)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant covenant, condition or agreement on its part to be performed or observed and contained in Section 7.1.(i) (solely with respect to the existence of the Borrower) 8.15., Section 9.4.(l), or Article IXX. (excluding Sections 10.9. (other than Section 9.7. or Section 9.9and 10.10.); or (ii) Any Loan Party shall fail to perform or observe any term, covenant 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 (b)(ii) only, such failure shall continue for a period of 30 calendar days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other any 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 (Realty Income Corp)

Default in Performance. (i) Any Loan Party The Borrower or Realty Income shall fail to perform or observe any term, covenant covenant, condition or agreement on its part to be performed or observed and contained in Section 7.1.(i) (solely with respect to the existence of the Borrower) 8.2.(h), or Article IX. (other than excluding Section 9.7. or Section 9.99.8.); or (ii) Any Loan Party The Borrower or Realty Income shall fail to perform or observe any term, covenant 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 (b)(ii) only, such failure shall continue for a period of 30 calendar days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party Realty Income 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: Term Loan Agreement (Realty Income Corp)

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Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant or agreement on its part to be performed or observed and contained in Section 7.1.(i) (solely with respect to the existence of the Borrower) or Article IX. (other than Section 9.7. or Section 9.9.); or or (ii) Any Loan Party shall fail to perform or observe any term, covenant 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 calendar 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 (Washington Real Estate Investment Trust)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant covenant, condition or agreement on its part to be performed or observed and contained in Section 7.1.(i) 8.1 (solely with respect to the existence of the Parent and the Borrower) ), Section 8.8, Article IX or Article IX. (other than Section 9.7. or Section 9.9.)X; or (ii) Any Loan Party shall fail to perform or observe any term, covenant 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 calendar thirty (30) days after the earlier of (x) the date upon which a Responsible Officer of the Parent or the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower Parent has received written notice of such failure from the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (American Realty Capital Properties, Inc.)

Default in Performance. (i) Any Loan Party shall fail to perform or observe any term, covenant covenant, condition or agreement on its part to be performed or observed and contained in Section 7.1.(i) (solely with respect to the existence of the BorrowerSections 7.7., 7.12., 7.14., 8.1., 8.2., 8.3., 8.4.(l) or Article IX. (other than Section 9.7. or Section 9.9.); or (ii) Any Loan Party shall fail to perform or observe any term, covenant 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 calendar days after the earlier of (x) the date upon which a Responsible Officer of the Parent, the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Parent, the Borrower has received written notice of such failure from the Administrative Agent.

Appears in 1 contract

Samples: Term Loan Agreement (Parkway Properties Inc)

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