Default of Other Obligations. The Borrower shall fail to pay any material indebtedness to or perform any other obligation under any material agreement to any other firm, party or person, and such failure shall continue beyond any applicable grace period and result in the acceleration of such indebtedness or obligation or the Borrower shall suffer to exist beyond any applicable grace period any other event of default under any material agreement binding upon the Borrower unless such event of default has been waived in writing by the appropriate party or parties to such agreement.
Appears in 2 contracts
Samples: Credit and Security Agreement (Cohesant Technologies Inc), Credit and Security Agreement (Cohesant Technologies Inc)
Default of Other Obligations. The Borrower shall fail to pay any material indebtedness to or perform any other obligation under any material agreement to any other firm, party or person, and such failure shall continue beyond any applicable grace period and result in the acceleration of such indebtedness or obligation or the Borrower shall suffer to exist beyond any applicable grace period any other event of default under any material agreement binding upon the Borrower Borrower, unless such event of default has been waived in writing by the appropriate party or parties to such agreement.
Appears in 2 contracts
Samples: Credit Agreement (Next Inc/Tn), Credit Agreement (Next Inc/Tn)
Default of Other Obligations. The Borrower shall fail to pay any material indebtedness to or perform any other obligation under any material agreement to any other firm, party or person, and such failure shall continue beyond any applicable grace period and result in the acceleration of such indebtedness or obligation or the Borrower shall suffer to exist beyond any applicable grace period any other event of default under any material agreement binding upon the Borrower Borrower, including, without limitation, the lease of the Leased Premises, unless such event of default has been waived in writing by the appropriate party or parties to such agreement.
Appears in 1 contract
Samples: Credit Agreement (Syndicated Food Service International Inc)