Common use of Default or Revocation of Guaranty Clause in Contracts

Default or Revocation of Guaranty. The occurrence of an event of default under, or the revocation or termination of, any agreement, instrument or document (other than this Agreement) executed and delivered by any Person to Agent or any Lender pursuant to which such Person has guaranteed to Agent and Lenders the payment of all or any of the Liabilities or has granted Agent a security interest in or lien upon some or all of such Person’s real and/or personal property to secure the payment of all or any of the Liabilities (other than in connection with a merger, consolidation or transaction expressly permitted by Section 13(d)) provided, that a breach of subsections 8(b)(i), (iii) and (iv), 8(c) and 8(h) of the Security Agreement will not constitute an Event of Default hereunder until the tenth (10th) day following the occurrence thereof.

Default or Revocation of Guaranty. The occurrence of an event of default under, or the revocation or termination of, any agreement, instrument or document (other than this Agreement) executed and delivered by any Person to Agent or any Lender pursuant to which such Person has guaranteed to Agent and Lenders the payment of all or any of the Liabilities or has granted Agent a security interest in or lien upon some or all of such Person’s real and/or personal property to secure the payment of all or any of the Liabilities (other than in connection with a merger, merger or consolidation or transaction expressly permitted by Section 13(d)) provided, that a breach of subsections 8(b)(i), (iii) and (iv), 8(c) and 8(h) of the Security Agreement will not constitute an Event of Default hereunder until the tenth (10th) day following the occurrence thereof.