Common use of Default on Other Obligations Clause in Contracts

Default on Other Obligations. The Borrower or any Guarantor shall be in default under the terms of any loan agreement, promissory note, lease, conditional sale contract or other agreement, document or instrument evidencing, governing or securing any indebtedness owing by the Borrower or any Guarantor to the Bank or any indebtedness in excess of $10,000 owing by the Borrower to any third party, and the period of grace, if any, to cure said default shall have passed.

Appears in 17 contracts

Samples: Revolving Credit Agreement (SRS Labs Inc), Term Loan Agreement (Park City Group Inc), Revolving Credit Agreement (Itex Corp)

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Default on Other Obligations. The Borrower or any Guarantor shall be in default under the terms of any loan agreement, promissory note, lease, conditional sale contract or other agreement, document or instrument evidencing, governing or securing any indebtedness owing by the Borrower or any Guarantor to the Bank or any indebtedness in excess of $10,000 100,000 owing by the Borrower to any third party, and the period of grace, if any, to cure said default shall have passed.

Appears in 2 contracts

Samples: Revolving Credit Agreement (National Research Corp), Credit Agreement (Phoenix Gold International Inc)

Default on Other Obligations. The Borrower or any Guarantor shall be in default under the terms of any loan agreement, promissory note, lease, conditional sale contract or other agreement, document or instrument evidencing, governing or securing any indebtedness owing by the Borrower or any Guarantor to the Bank or any indebtedness in excess of $10,000 100,000 owing by the Borrower to any third party, and the period of grace, if any, to cure said default shall have passed.,

Appears in 2 contracts

Samples: National Research Corp, National Research Corp

Default on Other Obligations. The Borrower Borrower, any Guarantor or any Guarantor Subsidiary shall be in default under the terms of any loan agreement, promissory note, lease, conditional sale contract or other agreement, document or instrument evidencing, governing or securing any indebtedness owing by the Borrower Borrower, any Guarantor or any Guarantor Subsidiary to the Bank or any indebtedness in excess of $10,000 owing by the Borrower to any third party, and the period of grace, if any, to cure said default shall have passed.

Appears in 1 contract

Samples: Revolving Credit Agreement (Team Financial Inc /Ks)

Default on Other Obligations. The Borrower or any Guarantor guarantor shall be in default under the terms of any loan agreement, promissory note, lease, conditional sale contract contract, guaranty or other agreement, document or instrument evidencing, governing or securing any indebtedness Indebtedness or other obligations owing by the Borrower or any Guarantor guarantor to the Bank or any indebtedness Indebtedness in excess of $10,000 100,000 owing by the Borrower or any guarantor to any third party, and the period of grace, if any, to cure said default shall have passed.

Appears in 1 contract

Samples: Revolving Credit Agreement (Sonic Foundry Inc)

Default on Other Obligations. The Borrower or any Guarantor shall be in default under the terms of any loan agreement, promissory note, lease, conditional sale contract or other agreement, document or instrument evidencing, governing or securing any indebtedness owing by the Borrower or any Guarantor to the Bank or any indebtedness in excess of $10,000 $ 100,000 owing by the Borrower or any Guarantor to any third party, and the period of grace, if any, to cure said default shall have passed.

Appears in 1 contract

Samples: Park City Group Inc

Default on Other Obligations. The Borrower or any Guarantor guarantor shall be in default under the terms of any loan agreement, promissory notePromissory Note, lease, conditional sale contract or other agreement, document or instrument evidencing, governing or securing any indebtedness owing by the Borrower or any Guarantor guarantor to the Bank or any indebtedness in excess of $10,000 owing by the Borrower to any third party, and the period of grace, if any, to cure said default shall have passed.

Appears in 1 contract

Samples: Revolving Credit Agreement (Taylor Investment Corp /Mn/)

Default on Other Obligations. The Borrower or any Guarantor shall be in default under the terms of any loan agreement, promissory note, lease, conditional sale contract or other agreement, document or instrument evidencing, governing or securing any indebtedness owing by the Borrower or any Guarantor to the Bank or any indebtedness in excess of $10,000 100,000 owing by the Borrower Borrower, to any third party, and the period of grace, if any, to cure said default shall have passed.

Appears in 1 contract

Samples: Revolving Credit Agreement (Outdoor Channel Holdings Inc)

Default on Other Obligations. The Borrower or any Guarantor shall be in default under the terms of any loan agreement, promissory note, lease, conditional sale contract or other agreement, document or instrument evidencing, governing or securing any indebtedness owing by the Borrower or any Guarantor to the Bank or any indebtedness in excess of $10,000 10000 owing by the Borrower to any third party, and the period of grace, if any, to cure said default shall have passed.

Appears in 1 contract

Samples: Revolving Credit Agreement (Rochester Medical Corporation)

Default on Other Obligations. The Borrower or any Guarantor shall be in default under the terms of any loan agreement, promissory note, lease, conditional sale contract or other agreement, document or instrument evidencing, governing or securing any indebtedness owing by the Borrower or any Guarantor to the Bank Lender or any indebtedness in excess of $10,000 10,000.00 owing by the Borrower to any third party, and the period of grace, if any, to cure said default shall have passed.

Appears in 1 contract

Samples: Credit Agreement (New Age Beverages Corp)

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Default on Other Obligations. The Borrower or any Guarantor shall be in default under the terms of any loan agreement, promissory note, lease, conditional sale contract or other agreement, document or instrument evidencing, governing or securing any indebtedness owing by the Borrower or any Guarantor to the Bank or any indebtedness in excess of $10,000 owing owning by the Borrower to any third party, and the period of grace, if any, to cure said default shall have passed.

Appears in 1 contract

Samples: Revolving Credit Agreement (Universal Manufacturing Co)

Default on Other Obligations. The Borrower or any Guarantor shall be in default under the terms of any loan agreement, promissory note, lease, conditional sale contract contract, guaranty or other agreement, document or instrument evidencing, governing or securing any indebtedness or other obligations owing by the Borrower or any Guarantor to the Bank or any indebtedness in excess of $10,000 owing by the Borrower or any Guarantor to any third party, and the period of grace, if any, to cure said default shall have passed.

Appears in 1 contract

Samples: Revolving Credit Agreement (Park City Group Inc)

Default on Other Obligations. The Borrower or any Guarantor shall be in default under the terms of any loan agreement, promissory note, lease, conditional sale contract or other agreement, document or instrument evidencing, governing or securing any indebtedness owing by the Borrower or any Guarantor to the Bank or any indebtedness in excess of $10,000 owing by the Borrower to any third party, and the period of gracegrade, if any, to cure said default shall have passed.. (e)

Appears in 1 contract

Samples: Revolving Credit Agreement (Nautilus Group Inc)

Default on Other Obligations. The Borrower or any Guarantor shall be in default under the terms of any loan agreement, promissory note, lease, conditional sale contract or other agreement, document or instrument evidencing, governing governing, or securing any indebtedness owing by the Borrower or any Guarantor to the Bank or any indebtedness in excess of $10,000 owing by the Borrower to any third party, and the period of grace, if any, to cure said default shall have passed.

Appears in 1 contract

Samples: Revolving Credit Agreement (Universal Manufacturing Co)

Default on Other Obligations. The Borrower or any Guarantor shall be in default under the terms of any loan agreement, promissory note, lease, conditional sale contract or other agreement, document or instrument evidencing, governing or securing any indebtedness owing by the Borrower or any Guarantor to the Bank or any indebtedness in excess of $10,000 100,000 owing by the Borrower or any Guarantor to any third party, and (i) the period of grace, if any, to cure said default shall have passed; and (ii) such third party has taken any action with respect to such default.

Appears in 1 contract

Samples: Revolving Credit Agreement (Park City Group Inc)

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